Most businesses today agree that social media is an essential part of any marketing strategy. Facebook, Twitter, LinkedIn, Instagram … you have to be there! But how do you measure your presence on social networks once the social media strategy is in place? Looking at the number of fans, followers or likes is not enough. You need to keep track of the right social media KPIs …
Your social media KPIs (Key Performance Indicators) should focus on driving new traffic to your site, increasing lead generation, and expanding your brand.
Why are these KPIs so important?
- They reveal your health on social networks;
- They go hand in hand with ROI;
- They affect the rest of your social media strategy and digital marketing strategy.
While social media is only part of your marketing mix, with the right KPIs you can drive your brand forward and achieve your goals.
are you ready ?
Check out some of the social network KPIs to use in your social media strategy.
This is the number of standard activities received by an account.
Likes indicate that a follower liked your post enough to engage with it. Although some platforms like Instagram and Facebook now hide the number of likes from public view, you can still see these numbers in the stats.
Post and profile shares are a great way to measure engagement. A large number of shares is also an indication of how viral a post is. This function has different names depending on the platforms:
- On Facebook, this is still called sharing, but there are plenty of options to choose from.
- On Instagram, use the share icon for DMs or a story;
- On Pinterest we talk about repin;
- On Twitter, it’s a retweet.
Like likes, comments are another one of those essential interactions to monitor and enhance. They can be placed on posts and live streams. And just like shares, comments are a good indicator of an engaging post. Not only are they meaningful as metrics, but you also need to develop a strategy to effectively manage social media comments to engage with your fans through responses and interactions.
Mentions occur when an account tags your business account or mentions your brand. They can be included in a post, comment or story, for example. This metric isn’t always tracked natively, so you’ll need to use a tool to track how and how often your brand is mentioned on social media.
When someone finds out about your business, they visit your website, sign up for your newsletter, and view your profile page. The number of profile visits tells you how many times your page has been viewed in a given period of time.
Your engagement rate shows the total engagement received by your account, containing all the different forms of interaction. This can also include engagement rate per reach, rate per impression, and so on.
Post reach is defined as the total number of people who have seen your post since it was published. Factors like the timing significantly determine the reach of your publication. To calculate the reach of your post, divide the number of views on the post by the number of followers you have. If you have 100 followers and 15 post views, your posts’ reach rate is (15/100) × 100 = 15% post coverage.
Post Coverage Percentage = Total Post Views / Followers × 100
Impressions are important to track, as social networks like Facebook can only show around 10% of your posts in some cases. For example, if you have a large number of followers but few impressions, you might want to consider promoting your posts. Checking your impressions is essential to understand if your messages are arriving.
Your number of impressions is usually greater than the number of followers you have. A person can have multiple impressions for a single piece of content. If your followers share your post on their profile and their followers see it, your impression level increases. This is why you can see on Twitter that your impressions are much more important than your follower count.
Click-through rate (CTR)
Click-through rate (CTR) is the clickthrough rate an ad receives relative to its impressions. A high click-through rate is a good sign because it indicates that your target audience is finding your ad relevant.
If your CTR is high, but your conversion rate is low, that could suggest a problem with your landing page – your ad is attractive enough to attract clicks, but users aren’t taking the desired action on the your website. . On the other hand, if your CTR is low, it could indicate that there is a problem with copying or creating an ad, or perhaps your audience is poorly targeted.
Voice sharing on social media (SoV)
This KPI is the advertising activity of a brand on social networks in a product category. Indicates your online visibility compared to the competition. This is not readily available in native analysis. Instead, you’ll need to decide which keywords, hashtags, or categories to focus on.
If you want to see your share of voice (SoV) on education-related topics, for example, you should compile a list of hashtags and keywords to check for that topic. Next, you’ll use a tool to gather information on how often your brand is mentioned with those words versus the total number of times the key terms are mentioned overall.
Return on ad spend (ROAS)
If you’re running ads, ROAS is a metric you MUST track. This will help you gauge the effectiveness of your ads by showing the total amount generated by your overall ad spend.
ROAS is an important key performance indicator for ecommerce businesses in particular, as it helps gauge the success of your advertising campaign and social media strategy. It also helps to identify the optimizations that need to be performed. At the same time, this KPI enables advertisers to make decisions based on relevant analytics and data to choose the right channels, the right way.
This is the number of conversions (product purchases, website subscriptions, etc.) you have received from all clicks on links in your content. This helps show how many people are taking action through the call-to-action or call-to-action (CTA).
For example, you can create a social media campaign with giveaways, contests, and promotions to measure your conversion rate. Paid advertising is one of the best and most accurate ways to get an estimate of this KPI.
It’s your turn !
Selecting the right KPIs for social media is no easy task. You need to match them with your brand and social media strategy while taking many factors into account. But I hope you are now able to better understand the role and functioning of the different KPIs on social networks.
Above all, don’t hesitate to train yourself to optimize your social media strategy. This web marketing training with a social media strategy component offers a comprehensive theoretical aspect and practical cases to master the subject perfectly.