Top Social Media Metrics That Your Business Should Be Tracking

Top Social Media Metrics That Your Business Should Be Tracking

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Social media has become part of many brand’s marketing strategies, and for it to be effective, brands need to know the various important social media metrics that need to be tracked. It is essential to know the different social media metrics to track for you to see if you are having a high return on investment through your social media marketing strategy.

Many brands and marketers only focus on the primary social media metrics like Facebook shares, followers, comments, etc. Still, there are important metrics that they either do not know about or just ignore altogether.

To get the most out of your social media marketing efforts, these important metrics shouldn’t be ignored. Ignoring specific social media metrics will have a significant effect on your social media campaign.

Facebook comments, shares, likes, and the rest provide some necessary information about your social media efforts but it will be more meaningful and beneficial to your business if you could track the metrics that provide you with a deep understanding of the impression of your social media marketing efforts.

There are many reasons why just relying on social followers, shares, and likes alone won’t benefit your social media campaign. Some of the reasons include:

  • Social shares and likes may not come from your target audience.
  • Social shares and likes may come from bots.
  • Some social shares may come from people who are saying negative things about your brand.

The main goal of every brand’s social media campaign is to increase customer engagement and raise awareness for the brand. So, relying just on social followers and shares won’t provide you with an in-depth analysis of how your campaign is performing. To have more valuable insight into your social media campaign, then you should follow the various important metrics I am about to discuss in this article.

Why Should You Track Social Media Metrics?

Every business has a goal, and every social media metric measure a business goal. So, it is important to know the various social media metrics for you to be able to tell if you are hitting your goals with your social media strategy.

Whatever business goals you have, you can get social media metrics that measure that goal. The metrics help you to make adjustments to your strategy whenever it is needed.

For example, suppose your business goal is to increase conversions. In that case, your business social media goal is to increase conversion from the audience that visits your site through your social media post. After getting a clear picture of your goal, you can now determine which social media metric can help you achieve that goal and the time frame to measure the goal. For example, let’s say we want to increase conversions from social media by 30% in two months. For us to meet this goal, our social media strategy will require us to run a campaign that will include paid ads. To measure the success of our strategy, we can check the conversion rate metric and social traffic on the post we used in our campaign from our web analytics tool.

We have to track social media metrics because they help us measure our social media strategy and determine if our strategy will have an impact on our business. They also help you measure the impact of your social presence. If you are managing a social media page for a client, it allows you to send timely reports on the impact of your social media effort.

For you to know if your social media strategy is performing, then you have to go the extra mile and measure the metrics I am about to reveal in this article.

Let’s get started…

Social Media Metrics You Should Be Tracking

  • Engagement: Comments, Likes, Shares, And Clicks
  • Awareness: Reach and Impressions
  • Share of Voice Metrics: Sentiment and Volume
  • Conversion Metrics: Conversions, Referrals, And Click-Through Rates
  • Customer Metrics: Satisfaction, Testimonials, And NPS

 

Engagement: Comments, Likes, Shares, And Clicks

Engagement metrics are simply the metrics that every new user to social media decides to track; they are mostly referred to as vanity metrics. Engagement on social media is a big category to measure because it includes likes, shares, comments, and clicks. Even though they are vanity metrics, their measurement gives value to any social media strategy or campaign.

Marketing goals which are non-transactional like brand sentiment and brand awareness, can be measured using engagement metrics. The number of engagements you get on your social media, tells you how many engaged and active followers you have on social media.

Let’s look at the breakdown of the engagement metrics:

Engagement Rate

Simply put, the engagement rate shows the number of engagements you get on your content divided by the number of reach or impressions. If your engagement reach is high, it means your content is interesting.

Comments, Likes, Shares, And Clicks

Comments, likes, shares, and clicks are all under engagement metrics which need to be studied as such. Studying the metrics individually won’t give you a better perspective on the performance of your social media strategy. You might have more of one metrics and less of another metric on your content which, when studied individually, won’t give you a clear understanding of your social media strategy.

For example, you might post content which encourages people to share the content; if you get more likes and fewer shares on that content, it means you need to adjust your call-to-action or change the whole content structure. In this example, the likes on the content aren’t bad; it shows you that people like the content but the call-to-action which tells them to share the content might not be well communicated to your audience. Looking at the whole metric helps you in adjusting your entire strategy while looking at a particular metric will help you optimize the content well to achieve that specific business goal.

Awareness: Reach and Impressions

Awareness metrics, as the name suggests, are used when you are measuring a business goal that touches on brand perception and brand awareness. The metrics help you to your audience in general and how well those audiences know your brand.

Impressions

Impressions are the number of times a content shows up on a user’s timeline.

Reach 

Reach is the unique viewers that a post can potentially have. (this could be your follower count in addition to the accounts that shared the post’s follower counts).

Impressions alone can tell you the potential your post has in terms of visibility on social media, but impressions alone will not tell you how the content is performing concerning your social media effort and business goal. Impressions, together with engagement, can tell you if your content is being appreciated by your audience or not.

For a content that has high impressions but low engagement, it indicates that a lot of your audience saw your content, but they didn’t find it interesting enough to engage with it. For content with high reach and high engagement, it indicates that your audience was interested in your count, and they went ahead to engage with it by liking, sharing and commenting.

Share of Voice Metrics: Sentiment and Volume

Brands on social media often use share of voice metrics to check what people are saying about the brand. It also shows how much of the market sphere your brand owns.

You can check this metric manually or use social media listening tools to make the process less stressful and more manageable.

Sentiment

Sentiment measures the expressions consumers have about your brand. It measures their opinions, feelings, and attitudes towards your brand.

Sentiments go deep into revealing the context of your brand’s shares, mentions, and comments, while volume just shows you “how many”. You should aim at getting positive sentiment for your brand.

Measuring sentiments helps you to:

First of all, better your customer service system. Sentiments make you identify where your brand is being mentioned with a negative comment for you to address it before it spreads quickly.

Secondly, you can check sentiment for your competitors and see how they are crafting their messaging, for you also to do a similar thing for your brand.

Finally, it helps you know how well your audience is receiving your message.

Volume

Volume lets you know how many people are talking about your content, business, or brand on social media. Volume tells you how many times you are mentioned on social media, or your brand is tagged in a post, or if your brand name has been used as a hashtag.

When you don’t find any data on mentions of your brand on social media, it could mean that your content isn’t what your audience wants, or you are not reaching the right audience with your message.

 

Conversion Metrics: Conversions, Referrals, And Click-Through Rates

The conversion metrics are mostly used by businesses with an e-commerce store or website. To many, conversions mean “purchase”, but it can also mean anything that a brand asks its audience to do. You can use the Google analytics tool to track referrals and conversions.

Conversions

Conversion is when a visitor to your website performs an activity that you requested (for example, signs up for your newsletter or registers for your webinar) or when a visitor makes a purchase on your website. Social conversion simply means a visitor coming to your website through social media and performing an activity in the same visit.

Referrals

Referrals refer to the channel through which visitors get to your website. When you check your Google analytics software, you will see a breakdown of your referral sources. You can see the referrals which came from social media and even further get the specific social media channel that gave you the traffic.

Click-Through Rates

The Click-through rate shows you if your post or ad is effective. It is the measure of the number of times your post is clicked divided by the number of times that the post is shown. A higher CTR means your content is performing well.

 

Customer Metrics: Satisfaction, Testimonials, And NPS

Customer metrics focus on the experiences of your customers when it comes to your brand. Under this metric, we will talk about customer satisfaction, testimonials, and the net promoter score.

Customer Satisfaction

Customer satisfaction measures the excitement customers attach to your brand’s products and services. You can measure customer satisfaction by sending a short survey to your customers for them to rate their satisfaction with your brand, it could be numerical (on a linear scale from 1-10) or sentimental (“good”, “poor”, “better”).

Testimonials

Testimonials are the feedbacks that customers give to your brand in the form of ratings, reviews, and endorsements. Testimonials can serve as social proof which sends signals to your potential customers that your current customers are excited about your brand. It builds trust for your brand and boosts credibility.

Net Promoter Score 

Net promoter score is used to predict customer engagement for a brand. It measures customer loyalty. Just like how customer satisfaction is measured, NPS is measured in the same manner; a question is sent out to customers asking them that on a scale of 1-10, how likely will they recommend the brand to family and friends. Most brands use the result to group customers into three categories.

  • 0-6 rating being the detractors
  • 7-8 rating being the passives
  • 9-10 rating being the promoters

Brands can reach out to the customers in the promoter’s category and make them brand evangelists.

 

Conclusion

There are more social media metrics to track aside from the ones that I have discussed in this article but going after all the metrics will be a bit overwhelming, that is why I took my time to put together the essential social media metrics that would be able to help you with your business goals. To emphasize, social media metrics are crucial because they tell you if your social media strategy is successful or not, over a given period.

The essential social media metrics that most successful brands are using are impressions, reach, engagement, referrals, conversions, response rate, and time. All these social media metrics will help you make an informed decision when it comes to measuring your social media campaign.

Every social media platform has its analytic tool which measures social media metrics but gathering analytics manually from all the social media platforms can be overwhelming, so it helps to get a social media analytics tool to do all the tracking.

Top Social Media Metrics That Your Business Should Be Tracking. pinterest

Kelvin Nii Ayi Aryee

I am a Social Media Marketer and Consultant and my aim is to help businesses and startups use the power of social media to increase their marketing effort and build a strong audience for their brand. I do this by implementing various social media marketing strategies to bring in more sales, traffic and leads for businesses through various social media platforms. Specialties: Social Media Marketing, Online Marketing, blogging, Affiliate Marketing and Email Marketing.

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