Social media KPIs shouldn’t be just another number for you.
Regardless of the type of business you run, nowadays it is important for you to be active on social media. This not only helps you build a brand that your audience trusts, but also helps you get the word out about your business much further.
Here are some statistics that should convince you about the power of social media and how it can positively affect your business.
71% of consumers who were on the receiving end of a good social media service experience from a brand are more likely to refer or recommend it to others.
There are 2.56 billion mobile social media users globally, which equals to a whopping 34% penetration; with 1 million new and active mobile social users joining in everyday.
More than 50 million small businesses today are leveraging Facebook Pages to connect and build a real relationship with their customers.
Hootsuite found that big brands on Instagram are experiencing a per-follower engagement rate of 4.21%, which is as much as 58 times higher than that of Facebook and 120 times more than what a business would see on Twitter.
These stats prove why more and more brands are investing in social media advertising to reach out to their target audience.
However, it is necessary that you focus on the right priorities if you want to achieve success with social media marketing. Or else, it is highly possible that your social media efforts go fruitless, and your brand ends up wasting time on popular social networks such as Facebook or Instagram.
Every brand using social media should realize that at the end of the day, it is a tool that you need to use efficiently in order to get results.
The question is, how do you make that possible? How do you avoid heading in the wrong direction?
The only sensible way to ensure that your brand is on the right track with social media, is to keep a track of the right social media KPIs or “key performance indicators”.
When you focus on understanding and recognizing the crucial social media KPIs, you will be able to keep track of where you’re going wrong and what is working for you. Not only that, you will also be able to recognize campaigns that are failing due to certain factors.
By understanding your valuable social media KPIs, you can tailor your campaign to match your customers’ needs and your business goals.
The problem is that many companies don’t even try to go beyond the basics. In other words, they think measuring social media metrics is only about tracking “fans” and “likes”. But as it turns out, successful social media KPI tracking is much more than that.
There are three key focus areas of your social media KPIs:
Reach: How many people come across your brand
Engagement: How often you engage with your target audience
Conversions: How many people convert into paying customers
Let’s look into each of these areas and analyze some of the crucial social media KPIs. And see how you can measure them the right way:
#1 of Social Media KPIs to Focus on: Reach
In order to survive on social media and make your presence felt, your content needs to get noticed by your audience. After all, what is the use of creating amazing content if there is nobody relevant to consume it?
Your social media reach is crucial for the overall growth of your marketing campaign. So if you don’t focus on improving your reach then you are leaving a lot of money on the table.
Even though reach is nothing new, and it has been an age old KPI when it comes to measuring the success of your marketing campaign, it is still relevant today. Your reach shows how effective your message is and how wide it is spread. In short, your reach matters to a great extent but it is not the only thing.
Number of Followers or Fans
Determining your reach and how far your messages are travelling is not complicated. It usually starts with the most obvious metric which is to see how many people you are able to reach out to on a social media platform. These people are your friends or your followers who have shown explicit interest in receiving content from you. It happens to be the total number of people that can view your content, comment on it, and share it with others in their social circle.
However, it is necessary to keep in mind that having thousands of followers or fans becomes irrelevant if they don’t engage with your brand. Interacting with your content is the first step to connecting with you. Having said that, knowing that your reach is high enough is a big plus. And it should give you the needed confidence to take your campaign to the next level.
2. Number of Impressions Generated
What makes impressions difficult to measure is the very nature of this particular metric. Your fans or followers may see the same content multiple times, each of which counts as an impression. However, it is safe to say that a higher number of impressions does mean – to a certain extent – that you’re connecting to greater numbers of people, which is obviously a good thing.
3. Number of Social Media Influencers
Not every brand on social media works with an influencer, but it ought to. A social media influencer is a person already has a strong personal brand and audience. They are in the position to spread awaren