Explaining to the boss why your social media methods are a must-have requires more than just your word. It needs data to back it up.
However, as you dive into your metrics, you'll find there's too much data to sift through. This makes it difficult for even the most seasoned social media managers to extract meaningful data.
Don't be overwhelmed. There's a way to pull insightful information from your campaigns.
Let's dive into how to understand social media marketing metrics and discuss which you should be measuring.
What's the point of having thousands of followers if no one's going to interact with your content?
When you publish posts on social media, do any of your followers engage with it? Engagement can mean different things, depending on your goals. Engagement is a prime indicator that your content meets their expectations. If there's no engagement, then this is an indicator that you're targeting the wrong crowd, or your content marketing needs a revamp.
Some of the things you should measure include:
- Profile visits
- Brand mentions (96 percent of brand mentions are from non-followers)
- Link clicks
- Active followers (logged in and interacted with your content in the past 30 days)
Just because you're posting content doesn't mean you're reaching a large enough audience. If you aren't, you won't see the engagement and conversion rates you desire to achieve.
Combining this metric with your engagement rate can help paint a broader picture of how well your social media campaign is doing. For instance, you can take the amount of engagement (clicks, shares, and comments) and divide this by reach. The percentage will tell you many of the people you're reaching are participating.
This is critical to identifying your influence and whether or not you're targeting the right people.
Some of the things you should be tracking include:
- Number of followers (doesn't include engagement)
- Number of impressions (identifies potential reach, not actual)
- Traffic Data (sources from social media channels)
What makes social media miraculous isn't that you can build visibility for your brand, but the fact you're able to connect with followers and make them care for your brand.
Social media influencers are becoming the go-to resource for companies because they have large followings of people who trust them. So when they recommend a product or service, it means something.
As a brand, you also want to have an influence on your audience. This is possible when you gain trust and a list of loyal fans.
Some of the ways you can measure your influence include knowing how many people are:
- Engaging with your content
- Converting (clicking on links)
- Talking about your brand (aka brand sentiment)
There are tools you can use to help gauge influence, such as PeerIndex and Klout.
Quick Tip: About 81 percent of SMBs are using social media; chances are, your competitors are as well. Make sure to keep an eye on your competitors to see what your audience is saying about them. You can gauge their influence against your own.
Leads and Conversions
Leads and conversions are the ultimate metrics you want to keep an eye on to determine the success of your social media campaigns. While it's great that you have followers and engagement, you need to ensure that when people are clicking your links, they're converting. The way you determine conversions is based on your campaign.
For example, a conversion can be a sale or a subscription to your email newsletter. You'll need a system in place to measure the leads and conversions that derive from social media.
This is why we recommend using a URL shortener to identify the source of your traffic. You can use Google Analytics to monitor the behaviors and journey of traffic that stem from social media sources. Monitor this on all of your platforms to see which of them are the weakest link. You may need to drop a channel or revise your content marketing strategy for that channel.
Start Measuring the Right Social Media Marketing Metrics
At first, you may gather all the data you can to identify whether your social media campaigns are effective, but this is counter-productive. You only need to keep your eyes on KPIs that directly influence your bottom line.
If you're getting traffic to your website but are struggling with converting leads, then we recommend using SmartForms. This will help you gather critical data to learn more about your prospects.
Ready to learn more? Find out how you can Enrich Inbound Leads in Real-Time!