4 Social Media Marketing Metrics that are very important to track
Defining your Social Media Analytics approach is very important in this tech-driven world. Social Media Marketing Metrics are the life-saving heroes of every SMM strategy, determining if your goals for Facebook Marketing, Instagram Marketing, and other Social Platforms are hitting the right spot or not. However, if you’re new in the world of marketing, for major insight into your business’s general profile, consider metrics.
Among tons of metrics getting you the necessary data, we’ve listed down some important ones for you to track.
1. Awareness Metrics
These metrics give a better understanding of a brand’s impression on the potential audience, reach, and increased views on its website and social accounts. Let’s have a deeper look at what they get measured for you.
- Brand Awareness – Expressed through the likes, shares, and @mentions your brand gets, across the social media platforms. Provided that, the report generated is based on a reporting span of a week or a month, yielding statistical data the metrics record.
- Audience Growth Rate – With the increase of internet access around the world, brands’ social media following is also increasing gradually. Provided that, this metric measures the rate of social media followers increasing.
- Post Reach – The term says it all! Affected by the timing and content of your post, it demonstrated the number of people who’ve seen your post since it went live.
- Potential Reach – It measures the number of people to whom your mentions have reached. To clarify, this also includes the followers of the person that mentioned your brand.
- Social Share of Voices – Competitors being a threat to your business need to be taken care of too. The SSoV, a competitive analysis, measures how relevant your brand is in the market and how many mentions you’re getting, as compared to your competitors.
2. Engagement Metrics
In the low attention span world of Social Media, calculating the effectiveness of your campaigns is very important. The Engagement Metrics is a Social Media Marketing Metric that calculates how much the audience is engaging with your content. Here’s what they measure;
- Applause Rate – It helps you track the number of approval actions your brand is getting relative to the number of followers your social media has. Putting it another way, this is an acknowledgment by your audience that your content is valuable to them.
- Amplification Rate – A higher amplification rate is your way to associate more followers to your brand. It is the calculated rate at which your followers are sharing your content on their networks, relevant to the total number of your social media followers.
- Virality Rate – The riskiest decision in marketing is considering a post with a high number of likes as the best. Whereas, a professional marketer’s way to judge a campaign is by measuring its Virality rate, calculated by keeping the total number of shares your posts get, relevant to the number of impressions.
3. Conversion Metrics
These are metrics helping businesses by demonstrating the effectiveness of their Social Media Engagement.
- Conversion Rates – They measure the value of your content and its compatibility, based on the actions your audience takes when they visit you. For instance, out of 20 followers who’ve visited your site in the reporting span, 10 of them have subscribed to your newsletter or signed up for a webinar you’re hosting. They are ultimately increasing your conversion rate by these actions.
- Click-Through Rate (CTR) – Often confused with other actions, CTR is calculated a bit differently. Therefore, this rate demonstrates the number of times the audience has clicked on your Call to Actions placed in your content, relative to the total impressions on it.
- Bounce Rate – The only rate which gets you a sigh of relief when it’s lower. Bounce Rate is the number of visitors who instantly leave your post within seconds of clicking on it, without taking any action.
- Cost per Click – This may sound like an expense, but in reality, it demonstrates the effectiveness and attention that your content is getting. Every click on your sponsored Social Media posts which increases the spending is Cost per Click.
- Conversation Rate – This rate demonstrates that how much of your audience is compelled to share their voice over your content. Therefore, it is measured by comparing the number of comments per post to the total number of your followers.
4. Customer Metrics
Knowing what your potential customers think and feel about your brand is a healthy way to track your campaign. Customer Metrics are a clear reflection to know your audience.
- Customer Satisfaction Score (CSat) – Customer satisfaction is every brands’ topmost priority. This CSat Score helps you measure how happy your audience is, with your products and services. A survey is carried out, asking the audience to rate your brand on a scale of supposedly one to ten. The total score is compared to the total responses, getting the brand a CSat Score.
- Customer Testimonials – Great testimonials are eye candy, not just for you but also for the audience visiting your Social Media Accounts. A consistent and genuine stream of testimonials like Google Reviews can get you credibility and the audiences’ confidence.
Which metrics are you considering as a key to your Social Media Marketing in Pakistan a success? We understand it can be overwhelming to keep a check over all of them. Contact a Digital Marketing Agency in Pakistan to get some help.