5 Social Media Metrics Your Business Needs to Track
Online businesses constantly have to struggle with the crowded market. One of the main business concerns is whether their marketing efforts are making an impact or are they all in vain. Nowadays, businesses concentrate their marketing on social media platforms, because social media is the best place to publish your content and engage with your target audience.
However, social media platforms are vast, and tracking your marketing success on social networks isn’t as simple as it sounds. In addition, waiting to see whether or not your marketing will bear fruit takes too long, and by the time you get a clear picture, it may be too late to fix things. That’s why businesses track social media metrics, which helps them gain insight into customer behavior and how customers respond to their marketing campaigns. Here are a few social media metrics you should definitely track.
This metric enables you to track the number of followers you have on social networks, such as Facebook, Twitter, Instagram and others. Moreover, it allows you to track whether the number of social followers is increasing or decreasing over time. The main reason this metric is important is that it gives you insight into your exposure on social media.
If you’re trying to grow your audience, it’s good to have clear numbers. That way, you’ll know if your efforts to attract new followers are working or not. Furthermore, you’ll have a clear picture of the number of followers on each social media channel, so that you can always improve your presence on specific networks if you need to.
This metric tracks whenever someone on social media mentions your business, content, product or service. This gives you insight into how people respond to your publishing, offers, promotions and other activities.
You can use media monitoring tools to track relevant conversations that matter the most to your businesses to notify you whenever specific keywords you’ve assigned are mentioned across social media networks. Moreover, you can also track mentions of your main competitors and gain information about what they’re doing right or wrong, in order to leverage that data and find ways to outrun them.
This is another metric that tracks conversations, only this one goes deeper into sentiment behind the mentions. Social sentiment metric is essential for tracking brand’s perceptions and equity. Moreover, you can track these mentions across social media channels, blogs, press releases and many more. Tracking sentiment is crucial for identifying how your audience feels about your brand.
This allows you to engage in relevant conversations at the right time and ensure your marketing strategies are right on track. You can also categorize sentiment mentions as positive, negative and neutral for your brand. That way, you can zoom in onto conversations that need your involvement and, that way, ensure that your reputation remains intact. In addition, you can also identify your brand ambassadors by tracking followers who always mention you in a positive context.
Social traffic and conversions
Social traffic and conversions metric measures just how effective your social media marketing campaign is in converting followers and generating website traffic. The main reason you need to track this metric is so that you can accurately measure your return on investment (ROI) from social media marketing efforts. The best way to do that is to track how many followers from your social media channels have vested your website and how many of them were converted into customers.
As an important website traffic source, you can analyze social media to identify which networks hold the most value to your marketing efforts. You can calculate the goal conversion rate (GCR) for each network and identify whether or not your messages are resonating well with your followers. If the messages are spot on, your goal conversion rate will increase; if messages aren’t received well, your goal conversion rates will decrease, and you’ll need to reassess your marketing strategy.
This metric effectively measures the engagement levels of your social media marketing campaigns. The main key performance indicators (KPI) for social interactions metric is how effective are your social media marketing efforts in developing engagement with your followers. It’s not only about how many tweets, shares, likes your post get, but also about the potential of your posts going viral on social media networks.
That’s how this metric helps you identify and nurture the right types of interactions with your followers. In addition, social interactions can help you measure how your interactions reflect on your marketing goals, such as lead generation, web traffic and so on. The best way to improve your social interactions is to engage with customers and build relationships with them, instead of simply trying to push sales.
Social media became the most important platform for business to launch their marketing campaigns and actively engage with a broad number of potential customers. The main reason is that social media platforms have a large number of users and are quite business-friendly as well. That’s why social media metrics are one of the essential business metrics a company can track. These metrics give insight into your customers’ satisfaction and the effectiveness of your marketing campaigns on social networks.