Essential Social Media Metrics Your Business Should Start Tracking

Essential Social Media Metrics Your Business Should Start Tracking

Emma Miller
7 March 2017
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Every social media campaign requires a good strategy to start generating leads and turning profits. However, for a campaign to be effective, it has to appeal to the target audience in the right way. But, if a campaign is going to be truly successful, you must know how to measure the impact and response it makes. Enter…social media metrics.

This is where social media metrics can be of great assistance. With metrics, you can measure whether or not your campaign is as efficient as you wanted it to be, and will it produce a substantial ROI.

Most people measure the number of likes, tweets, shares and followers their content has. That is okay, numbers are important because it means your content has attracted some attention. However, what you really want to measure is, how well are your viewers engaged in your content – in order to find out if you are sending the right message or not. Let’s have a look at which social media metrics you should track, in order to have more success.

Analytics

Facebook likes, Twitter shares and number of followers can give you a general idea on how much attention your marketing messages are attracting. Although likes and shares are important, they are not what you need to reach a valid conclusion.

You must understand that people on social networks like to “like” random things. This doesn’t mean they are engaged in the content. Those who are indeed engaged are the ones you should focus on. There are social media metrics you can track that will help you locate interested parties.

  • Engaged comments – These are left by the people who are really interested in content. They will ask questions and seek additional information and be overall engaged. On the other hand, there are people that will “like” something without even knowing what it is because someone else did it, so why not join the bandwagon? These are not people you should be interested in.
  • Time spent on your web page – Always measure who and for how long were they on your website. This will give you insight on who is actually reading your content and who is just passing by. Time spent on your blog or website will help you “isolate” people who are interested in your content.
  • Bounce rate – Whenever someone visits your website and leaves immediately after viewing one page is measured as bounce. This is an important statistic, if you are drawing leads from social media to your website. It will give you the information on how well is the response rate of your content – what are people reading and what generates the most “interest” or if it generates any interest at all.
  • Who comes back – Who visited and came back for more? This is vital for your business. People who visit your page and keep coming back are the ones that are most likely to convert from viewers to customers at one point.

Combine findings of these metrics and you will have a clearer picture about your target audience, content that is the most interesting and how well is your social media campaign performing. If you don’t like the result you can improve or change your strategy.

Engagement

Engagement metrics can offer valuable information on who’s talking about you the most and on what social, individual message performance, and competitive benchmark. You can measure all the “chatter” about your brand, and step up your game if the need arises.

These social media metrics can also help you form a better relationship with your audience by providing better content, increasing your response rate to their questions, and improving their overall experience. They can also help you locate influencers among your audience and maybe use them to your advantage.

  • Improve response rate – Your audience will post stuff on social networks. It is important to reply to those inquiries, unless you want them to feel neglected. You can automate most of the basic replies, but important inquiries should require personal involvement.
  • Promotions by users – It’s always good to have someone promote and share your content. That’s why marketers strategically place “call to action” and share buttons in the content. But if your viewers have a good relationship with you, they will promote your business even without being asked to do so.
  • Expansion – When your online community starts to grow, metrics can assist you in forming new relationships with new viewers – supplying them with content that suits their needs.
  • Brand influencers – People who give your products positive reviews and recommend them to others are influencers. They can greatly improve your campaign success rate.

By tracking these metrics you can raise interest and improve relations if your popularity ever starts to descend.

Monitoring

By tracking social media metrics, you can always stay a few steps ahead of the game. This means you can locate the most interesting conversations about your product, track competitors and their response to your campaign and track the overall performance and success rate of your strategies.

With new, more advanced social platforms popping up on a regular basis, it can be an overwhelming task to keep track of which ones to use to implement your digital marketing strategy. This is where metrics can be of great assistance as well. You can pinpoint exactly where do most valuable conversations about your brand are taking place and on which platforms. This will help you manage marketing ideas and content placement for the most important platforms. Not only that, but you can also track media exposure, location coverage, and how your messages are being received. The point of tracking metrics is to lead a successful campaign with high conversion rate, or simply put, the final decision a visitor will make with your brand. Your conversion might be a sale, a subscription, a download, a signup or many other things.

Social media metrics listed above can provide you with a general idea on how to create a good marketing campaign. They can also provide you with a general sense of direction on how to navigate your brand through social networks. There are plenty of metrics that can assist you immensely. However, which ones you will use, depends on your business plans and the goals you want to achieve.

Emma Miller is a marketer and a writer from Sydney. Her focus is digital marketing, social media, start-ups and latest trends. She’s a contributor at Bizzmark blog and a mother of two.