With more than 3 billions users all over the world, social media has become one of the most dominant marketing platforms to grow your business. However, unless you measure the right social media KPIs & metrics, it will be difficult for you to figure out what’s working and what isn’t in your marketing strategy, and if you’re headed in the right direction.
Here are 7 Social Media KPIs every business must monitor to measure the performance of marketing campaigns, identify new growth areas and spot issues up front.
Driving User Engagement is perhaps the most important objective of any social media marketing strategy. It’s pointless to reach millions of users if they don’t engage with what you have to offer.
A small but engaging audience will help spread the word about your business and grow your audience organically.
In fact, platforms like Facebook & Twitter see engagement as a yardstick to measure the quality of your content & the popularity of your business. Content that e, generates a lot of interactions will be shown in more Facebook news feeds.
Although the actual engagement KPIs you measure will vary depending on the platform, most of them include the following:
1. Number of Clicks
Clicks are one of the most important social media KPIs that indicate the quality of your post title & image. Most of your followers will only click on posts that are actually interesting or useful to them.
So if your posts have a large number of clicks but very few likes & shares, then it means your title & image have got their attention, but your content wasn’t as good as what they expected.
On the other hand, if your posts drive a lot of likes & shares but very few clicks, then it means that you have great content, but you need to work on your pitch, by trying out different post titles & images.
2. Likes, Shares & Comments
Likes, Shares & Comments are different ways people engage with your content on social media.
Not popular as it used to be, Likes are still an important metric indicating the popularity of your content. Content with more likes drives more clicks, as people are naturally attracted towards popular things. A high number of likes also signals to the social media algorithms that your content is popular and deserves a prominent spot in search results.
Although, likes may, sometimes, be an impulsive response, sharing is a more conscious decision. If someone shares your post, they’re effectively recommending it to their own social network of friends, family & colleagues and it’s an appreciation of the quality of your work.
Interesting content is bound to start a conversation. If your post drives comments, it shows that people actually care about its topic. Whether you get compliments, criticisms or simply general discussion, comments indicate that your content is touching up on the right spots of interests.
In fact, posts that get a lot of likes, shares & comments are also featured as “posts you may like” in Facebook news feeds of people who are interested in your post topic, even if they’re not your fans or followers. This is a great way to grow your audience.
Social media mentions or tags provide a great way to track the popularity of your business, even when you’re not actively promoting it. It tells you how many times your brand is mentioned on social media posts and comments. It’s an important social media KPI that enables you to monitor your brand awareness, as well as relevance
4. Profile Visits
Profile visits is the number of users who visit your social media profile. It’s a key metric that indicates how many people are interested in your brand or business, beyond your latest post.
Although your page may have a lot of followers, they may not visit your profile. However, new followers as well as newsletter subscribers tend to visit profiles to know more about your business.
If your profile has a lot of visitors it might be a good idea to use it as a platform for promotion.
Reach is one of the oldest marketing metrics that is still important today. It tells you how many people potentially saw your message.
However, measuring reach can be tricky, as it is only an estimate and not actual number. For example, if your post was shown on a user’s news feed and he scrolled past your content, it will still be counted as an impression.
Having said that, here are 3 social media KPIs that you can use to measure your reach.[tweet “Which #socialmedia #KPIs are you tracking? Are they relevant?”]
5. Followers or Fans
This is the total number of users that follow your brand on social media, and could potentially see your each post or tweet. This is the number of users who have actively indicated that they want to receive updates from your social media profile.
Impressions are the number of times your post was displayed on users’ news feeds, either because they follow your page, or someone in their social network liked, shared or commented on it. It doesn’t mean that they actually looked at your post. As described earlier, they could have simply scrolled past it. However, it tells you how many people were shown your content on their news feeds. The higher the impressions, the wider your reach.
7. Website Traffic
This is one of the most important social media KPI. Tools like Google Analytics help track what percent of your web traffic is from social media websites, how much time visitors spend on your site and which pages they visit. All you have to do is visit the Overview section under Acquisition Reports.
Clicking on “Social” link will drill-down to site-specific stats for Facebook, Twitter, YouTube. This will help you identify which social media platforms drive most visitors to your website, so you can focus more time & resources on it.
It will also help you find out which blog posts and topics drive most traffic, so you can produce more such content.
How to measure social media KPIs
If you’re wondering, “How do I measure these social media KPIs”, you can start by using the free in-house analytics provided by each social media platform, which already track the above metrics & KPIs. For example, Facebook provides Audience Insights, Twitter has Twitter Analytics and Pinterest provides Pinterest Analytics
However, if you want to monitor all your social media KPIs across various platforms from one place, then there are plenty of free social media analytics tools that allow you to connect your social media accounts and automatically monitor these KPIs using real-time online dashboards.
They basically work off the same analytics data available within the social media platforms. However, their main benefit is that they allow you to aggregate social media KPIs across multiple platforms & accounts in one place, and also provide automated email reporting capabilities. So you don’t need to log into various social media platforms all the time.
Although there are tons of social media metrics available, it’s important to focus on only the KPIs relevant to your top performing platforms.
For example, even though you’re active on multiple social platforms, if you find that Facebook drives more leads & customers to your business, focus on Facebook KPIs instead of spreading yourself thin by monitoring all your active platforms.
Track what helps you grow your business and actually generates results.
For more than 8 years, Sreeram Sreenivasan has worked with various Fortune 500 Companies in areas of Business Intelligence, Sales & Marketing Strategy. He regularly writes at Fedingo about a wide range of business growth & marketing topics. He’s also the Founder & CEO of Ubiq BI, a cloud-based BI Platform for SMBs & Enterprises.