Social media is an extremely valuable tool for building relationships with your audience, improving brand awareness and ultimately increasing revenue. If your business isn’t already utilising social media as a marketing tool, then it’s time you jumped on the bandwagon. And if you are using it already, then how do you know whether it’s working for your business?
With an almost endless list of data and analytics available through various social media channels, deciding upon the right ones to track can be a difficult task. The metrics you decide to measure depend completely upon what you are looking to gain from your social media campaign, a decision that can be difficult to make. Unsure where to start? Here are some of the important, core metrics that you should be monitoring.
If brand awareness is a top priority for your marketing department, then Reach needs should be one of your top social media KPIs. Reach displays you how far your message is travelling, how many people are seeing it, and who those people are.
Once you’ve assessed how far your reach is it’s time to focus on how engaged the people seeing your content are. Engagement is arguably the most important thing you should be monitoring across all of your social accounts. In simple terms, engagement includes the number of likes, comments, shares and clicks your posts receive. Engagement is an extremely important metric to measure as platforms like Facebook and Twitter view engagement as a sign of quality and popularity, something that will ultimately help improve your organic reach.
Higher levels of engagement show that you are creating content that your audience is interested in. Alternatively, if you notice that you have a wide reach but no one is engaging with your content, then this suggests that your followers aren’t interested in what you are sharing or maybe you are reaching the wrong people.
Ultimately, the KPIs you measure will depend upon the end goal of social media campaign. If the sole purpose of using social media is to increase revenue and sales you will want to dig deeper and measure the number of leads and conversions from your social accounts. This will display how many of your followers are actually paying customers, and who is clicking through to your site and making a purchase as a result of your social media activity. However, if the initial aim of your social media campaign is to boost your reputation and raise brand awareness then measuring engagement and reach should be a top priority.
These are just a few of the basic KPIs that you should be keeping an eye on when using social media. If you are looking for to gain a deeper insight into the success of your social media campaign there are many additional metrics that can be analysed across various networks.