Say you set up all the social media networks you require to execute the well planned out social media strategy for your business, how do you determine to what extent it is working out? this is where Social media metrics come into play. Social media metrics are basically the data revealing your social media performance through which you can judge whether your intended goals can be reached or not.
How do you track social media metrics?
All the social media platforms have their own analytics for you to investigate your social media performance. Twitter contains Twitter analytics, Facebook’s data can be acquired through its Insights tab while Instagram’s and Pinterest’s data are only available via business accounts. Inspecting each and every metric individually can be a hassle hence if your budget allows it opting for a social media analytics tool is the best choice.
Let’s take a look at some of the most important social media metrics you should be aware of and be measuring regularly.
- Engagement rate
Engagement rate refers to the number of likes, comments and shares your posts receive and it shows how keen your audience is to know about your products and services. Hence for the target audience to keep up with your publications you must cater quality and useful content. Engagement rate is an important measure to find out how effective your content is.
- Impressions and reach
Virality rate or the extent your content goes viral includes the impressions and reach made by the published posts. Impressions refer to how many times a post appears on someone’s feed while reach is the number of unique users who come across your posts, even if they see your posts several times. For example, if you have 1k followers and each one sees your content twice, your reach would still be 1k. Impressions are important in getting to know the potential of your content. Reach is also an important metric since you will be able to know when you reach a new user who will be getting their first exposure to your brand.
- Share of voice (SOV)
Share of voice is a metric indicating how many users are conversing about your brand online compared to your competitors. It is significant in determining what percentage of the overall conversation regarding your industry is centered on your brand.
- Audience growth rate
It is the speed at which the number of your followers grows. You can set targets such as gaining a certain percentage of followers within a given time period and evaluate its success using this metric.
- Response rate and time
Customer satisfaction is a vital element in any business hence metrics such as response rate and time allow you to know whether your customers are being responded to in a reasonable amount of time. They track how quickly your team responds to your clients and to how many they provide responses.
To sum it up, if you are dedicated to drive people towards your content in order to achieve your social media marketing goals and strategies it is crucial to make good use of social media metrics to stay on track of your brand’s performance.