The Ultimate List of Social Media Metrics That Matter
Feb 04, 2020 ● 6 min read
These days, new and different metrics are being brought into the game and it's often hard to know, or hard to understand which of the social media metrics matters.
What are the right means for measuring social media performance? Tracking of social media metrics, how can it be done? There are some basic key metrics that most, if not all, companies must use when trying to measure performance.
These are generalized in every way and the user can work for you. Although the different names of key metrics are quite different from each other depending on the social media channel, they are basically the same.
Social Media Metrics Explanation and Reason for Tracking
Well-defined social media goals are the determinants of social media metrics, there is an equivalent metric for a well-defined goal. The metrics will be the indicator for performance through your strategy, it shows if you meet your goals successfully or not.
As an example, if one of your social media goals is increasing engagement with your clearly defined goal, you can now look for a related metric to monitor your performance. With the aim of accomplishing your goals, you can now create and post content that is engaging, and you monitor metrics like the number of likes, comments, and share. This is an equivalent to the goal, for every goal, there is a metric for it.
One great importance of social media metrics is that they are quantifiable proof that successful campaigns or unsuccessful campaigns can be measured. Metrics help calculate how your strategy and tactics are working in social media, it also helps to know the overall health of your business on social media.
With good social media marketing metrics, creating a social media report will be quite easy, and it will make your work easily understandable, therefore an appreciable increase in recognition of work and the benefits that come with it. Metrics serve as a backer to verbal words and visual acceptance. If you say your business is doing well, then metrics can back you; if it shows that you have many leads generation, then metrics can quantify it.
For every social media channel, there are dashboards that indicate where you can view your data for making analytics, for those that are trying to make waves through optimizing their business using social media marketing. Using the provided analytics on your various platforms is surely the right way to begin, even without spending much.
With your known goals and your data cache, you can easily do your analytics yourself assuming your know-how. With so much data flow, you will have to choose which metric data is relevant to you. Some important social media metrics are:
1. Social Media Metrics for Engagement
Engagement in social media is a very important metric to measure, it shows how productive your campaign is going, more engagement is positive, and less is means you can do better, but none is terrible. Engagement brings to light the social side of social media, where likes, comments, shares are seen. Here are some social media engagement metrics.
Likes - With more likes on a post of yours, it shows that your content has the quality and is accepted by your audience, and people tend to listen and follow things that are popular, with many likes coming from authority.
Clicks - This is a very integral engagement. It is a known fact that most people that click on an ad are likely to convert. Click helps you in lead generation.
Comments - For most people that take their time to leave comments on posts, it means that they are very much interested in what you are selling. The comment section is a very good engagement for getting feedback from your target audience. With many comments comes loyalty.
Shares - Now this is a great engagement that portrays loyalty. It shows that people are ready to go the long haul with your brand.
2. Social Media Metrics for Reach
You cannot start making leads or ROI without penetration on social media, the Reach metrics are integral in social media. You need to connect with the right people, show your business to the right people, build your reach to increase your social media performance.
The number of followers - this is the basic means to know how much your penetration has gone. It shows how many people are interested in knowing about you and your business. This might not be equivalent to lead generation but it's quite close.
Traffic on the web - Knowing how much traffic your website gets through social media is a way to know how good your social media reach is.
Voice Share - When your penetration on social media is high, many voices will be talking about your brand and vice versa.
3. Social Media Metrics for Conversions
This metric for conversion in social media helps to know how much people are brought in as customers through your social media platforms.
Revenue from sales - If much revenue is gotten from sales through social media marketing, that means the revenue conversion is high.
Lead Conversion Rate - This shows how many customers are gotten through social media
No-revenue conversions - This indicates leads that are gotten through social media.
4. Social Media Metrics for Loyalty
These metrics are perhaps the most technical of them all. It is much easier to make a new customer than to keep an old one. This KPI shows how to know if your customers keep coming back for more or if they don't return at all.
Cost for Lead Generation - As time progress, if the cost per lead decreases, then you are making the right impact through creating customer loyalty
Complaints solved - When customer complaints are solved almost immediately, they feel important and cherished, that creates loyalty
With so many metrics for social media out there, it is important that you don't waste your time bothering about the ones that are not relevant to your goals. For you to optimize your social media marketing experience, you need to have goals, goals that are related to what you want.
When you have done this, then you have to look for the equivalent metrics to go with it. The most important of all the metrics are engagement, conversion, reach and loyalty, with the combination of all these, you are sure to have all it takes to know how productive your campaign has been and what you can do to make it better.
1. Why Social Media Metrics Are Important?
Social media metrics are important because they are quantifiable proof that successful campaigns or unsuccessful campaigns can be measured. They help calculate how your strategy and tactics are working in social media, it also helps to know the overall health of your business on social media.
With good metrics, creating a social media report will be quite easy, and it will make your work easily understandable, therefore an appreciable increase in recognition of work and the benefits that come with it. Metrics serve as a backer to verbal words and visual acceptance. If you say your business is doing well, then metrics can back you; if it shows that you have many leads generation, then metrics can quantify it.
2. What Are the Most Important Facebook Metrics?