Like many other businesses across the globe, your business probably already has a presence on various social media platforms. You may have a Facebook page, Twitter account, or maybe even some Pinterest Boards. You respond to customer queries and questions, post new content every day, share videos and infographics with your followers, and thank them for being associated with your brand. All the while you trust that your social media strategy is going well, but is it actually successful in reality?
Are you doing anything to keep track of your social media marketing strategies? How are you monitoring social media interactions? Great social media marketing requires robust real-time data. In order to identify whether the social media marketing decisions you are taking are smart and suitable for your business, you need to measure their performance.
Remember, social media is not the same for all businesses. What may work for Business ‘A’ may not work for Business ‘B’ and vice versa. Hence, you need to track the various social media metrics that matter to your business and measure the Return on Investment (ROI).
Possible goals of your social media marketing strategy
- Creating brand awareness
- Driving traffic to your website
- Generating quality leads
- Boost sales and revenue
- Increasing your followers on various social media platforms
- Keep customers engaged with your brand
You may have other goals as well apart from these. Whatever your goals are, it is important to assess whether social media marketing gives the right results for your business.
Here are the various social media metrics that you should keep on your radar and measure consistently.
Social Media Post Reach
The social media metric ‘Reach’ refers to the number of unique users exposed to the content you share on a particular social media platform. Post Reach gives you an idea of how many people (users) have viewed your content. It is a measure of the target audience size and is a powerful social media metric. For example, 1,320,208 accounts were reached.
Social Media Followers
Your business or brand needs to have followers. But what is more crucial is how many followers are engaged with your brand. If your goal is to expand your network and increase your reach, a higher social media follower count makes all the difference. For example, 45,600 followers on Twitter, 14,900 subscribers on YouTube, etc.
Social Media Engagement
It is not just about how many people view your content on social media. The engagement of the audience to your content is even more important. Be it Facebook, Twitter, Instagram, or any other social media platform, there are different ways of keeping a track of engagement. Likes, comments, shares, posts, retweets, or replies – all of them form a crucial aspect of social media engagement. Posting highly engaging content means that the users interact with your content and share it with other users. This translates to better algorithms and higher post reach and impressions.
Social Media Conversions
This metric gives an accurate record of all the conversions that have happened from social media platforms. Getting the total conversions through social media is a great way to prove the value of social media for your business. The marketing team in your organization will have monthly, quarterly, and yearly targets. The social media conversion metric helps to know the contribution of social media to meeting those targets.
Website traffic, followers, and many metrics are important. But what matters most to the entrepreneurs and business executives is the revenue generated from social media. Revenue generation directly adds to the bottom-line of the company. Measuring the revenue from social media channels helps you assess the social media marketing ROI.
The success of a social media marketing strategy depends on whether or not it is making your business grow. Social media metrics serve as an eye-opener for many businesses across the globe. It lets businesses across the world make informed decisions regarding their social media marketing strategy.
To Your Best Online!
Ingrid Maddox, Internet Marketing & Strategy Consultant. bluedress INTERNET MARKETING, an Internet Marketing Company headquartered in Knoxville, TN. Internet Marketing Developed, Implemented, and Managed to Full Circle! Organic Internet Search Engine Guru. Turn-Key Internet Optimization Programs Placing You Everywhere and Anywhere You Need to Be Online.