We live in a data-driven, hyper-connected digital world. With so much emphasis on social media marketing, businesses must obtain valuable audience insights to ensure their marketing efforts aren’t wasted. It’s like rowing a boat without oars if you don’t track your results.
Simply said, your social media presence aren’t merely for brand promotion. They are there to interact, generate leads, increase website traffic, serve customers, and convert.
So how do you do it all? Setting goals and tracking progress. Here are 10 important social media KPIs to track regularly:
1. Audience growth rate and follower count
Follower counting is easy. You can see them in your profile/dashboard. Keeping an eye on your audience growth rate can give you an idea of how quickly your followers grow. So, it’s not so much about numbers as it is about growth.
To calculate your audience growth rate, divide your monthly new followers by your overall audience. Multiply this by 100 to get the percentage of your audience growth. If you have a business account on Instagram, you may view this metric straight from Insights.
2. Likes and comments
Likes and comments show how much your viewers enjoyed your material. While Instagram and Facebook allow you to disable the like count, you can still examine your own analytics in the insights section. More likes tell the algorithms that your material is worth exploring.
Along with likes, comments are a vital source of interaction with your material. They can help you start a conversation with your followers and indicate an engaging post. A good caption and CTA can increase comments.
3. Reach and Impressions
It shows how many unique accounts have seen your post since it was uploaded. It shows how many times your post has been seen. Because one individual might have several impressions for a single post, impressions are often higher than followers and reach.
Instagram and Twitter, among others, provide this data in their statistics. If you want to determine your own reach percentage, use this formula: Post Reach = Post Views / Total followers × 100
4. Shares
Many people prefer maximum posts in their feed. However, shares signal that people loved your material enough to share it with their audience, which helps build brand exposure online. Your followers actively invite others to view your postings.
Shares are essentially retweets. A repin on Pinterest. Shares can go into DMs, stories, or feeds on Instagram and Facebook. A high share count indicates a viral post.
5. Profile visits
No social media network has this metric. But if they provide anything like Instagram, take a look. People will learn about your business and products through visiting your social media profiles, website, and signing up for your newsletter. The number of profile visits indicates how many people have looked at your stuff.
Indication of brand interest beyond recent post. If people frequently visit your profile, keep it updated with your most important link destinations in the bio.
6. Share of voice and brand mentions
It compares the number of individuals who mention your brand on social media to the number who mention your competitors. It shows your brand’s industry popularity. The more you share your voice, the more popular you become on social media.
Uncover how many people are talking about your brand on a given social network. It can help you discover customer needs and improve your brand. You can also monitor your competitors’ mentions to see where you fall short.
7. Click-through rate (CTR)
The CTR measures how many times individuals clicked on your call-to-action buttons or links when they saw your post. This number shows if your content encourages your viewers to take action.
Don’t be scared to publish your related content on the same social platform several times. Include clickable links, especially for Twitter involvement. Emoji or custom wording for your CTA. You may also use Twitter cards to make your post’s image and title visible when shared.
8. Referrals
The number of individuals who visit your website after clicking a link on your social accounts. This indicator reflects the number of interested leads you’ve generated. It is the traffic that may soon become paying clients.
Go to Acquisition > Social > Network Referrals in Google Analytics. You can obtain a report of traffic from several social media channels. If you can’t get enough social traffic to your website, change your content and CTAs.
9. Cost Per Click
CPC (cost per click) is a key indicator for calculating return on investment when advertising on social media. Paid campaigns are absolutely worthwhile, but it’s critical to track results to improve future initiatives.
CPC lets you know how much you pay for each click. It will tell you if your ad expenditure is paying off. CPC is computed by dividing total ad expenditure by total clicks. Less CPC is preferable.
10. Leads generated
Before making sales, you must track your social media leads. A qualified lead gained via social media is a successful lead.
In any case, it shows that the person is interested in what you have to offer and wants to stay in touch with your business. These leads can be nurtured into paying customers.