Do you know what are social media metrics and how to track them? There might be several reasons why you would need to track them. In this post, we will elaborate on the top 5 most essential social metrics and share our practices on how to track them. Let’s go.
Let’s think, you are a social media handler, running paid campaigns on social media. If you are doing that for any customers or your organization, your boss is likely to ask a few questions frequently. For example, “Are They Improving?”, “What Are You tracking?”, “What Will You Be Tracking?” and “Why Are You Tracking?”
If you couldn’t find an answer to these questions, you are not alone. With hundreds of social media metrics out there, it becomes complicated to decide what to implement and what to track.
But, as a social media professional, it is crucial to demonstrate the value of your work, and the result of the strategies you’ve implemented. Collecting the right data will assure you that your investment in social media is paying off. Additionally, it will help you formulate a smarter, data-driven strategy to move forward.
This article elaborates on important social media metrics, why they matter and how to track them properly. So, are you ready to make an impression? We would love to assist you.
1. Social Media Reach
This is perhaps the most important social media metric that every advertiser should know. But what is social media reach?
Reach refers to the percentage of people who are engaging with your brand and content over social media platforms. Apparently, the more people interact the better your reach will be. But reach doesn’t show the full picture, therefore, it is critical to monitor your reach.
Why Reach Measurement Is Important
Set atop of the marketing funnel, reach is an essential social media metric that helps marketers develop a foolproof SMM strategy. No matter whether you spend an hour or a week on social media if your reach is not increasing, nothing counts in.
How To Track Reach
It’s not a big task. With dedicated tools, you can track your reach on all social media platforms individually. You can simply start by looking at your follower growth individual post reach, overall campaign reach, and the ratio of audience growth. If everything goes well, your reach will increase over time.
Suggested Read: Tips To Get More Views On Instagram Stories
If your reach is increasing, it doesn’t mean that your campaign will have a good engagement too. Both are different but play a crucial role in the success of a marketing campaign.
In layman’s terms, engagement is the percentage of people who are interacting with your posts and taking immediate action. Engagement can be measured in several forms, including comments, shares, likes, clicks and saves as well.
Why Engagement Is Important
While everything you post and share over social media accounts for your audience, it is essential to measure your engagement. Also, if your reach is doing well but the engagement graph is down, there may be an issue. Social media engagement rate shows the behavior of your audience and how they interact with your content.
How to Track Engagement
So, how to know if your actions are engaging enough? Be it Instagram, Facebook, Twitter, or others, each social media platform displays the engagement rate of each advertisement or campaign you run. If your engagement rate is unfairly low, we would suggest your running multiple ads at one time and continue with the best ones.
3. Amplification Rate
We recently started taking this into accounts and realized how critical it is. So, if you want to make the most out of your social media campaign, we would suggest you take this into consideration.
The number of shares per post is called amplification rate, which takes account into both reach and engagement of your content. Here’s how it helps you.
Why Amplification Rate Is Important
Likes and comments are common with time, but they don’t necessarily improve your reach. But, a good amplification rate can assure you of the good performance of your social media campaign. It shows that people know and trust you. Every time they share your post, they work as an influencer. However, the amplification rate may vary depending on multiple factors including niche and platform.
How to Track Amplification Rate
It is so simple. Just keep an eye on the number of shares or re-shared per post, divide the total number by your total followers, and multiply by 100. Unfortunately, you won’t find it with any platform, but you must take this into account for better results.
4. Social Media Referrals
With over 3.6 billion people using social media worldwide, it has become an ideal place for businesses looking for free promotion. They share their business across social media platforms and get referral traffic, but do you know why it matters and how to track it? Let’s find it below.
Social media referral accounts for the number of visitors coming to your website from social media. Whenever you promote your blogs or share a link on your social media platform and someone clicks to reach your website, it will be considered referral traffic.
Why Referral Traffic Is Important
If people leave their social media and visit your website to explore, it means they really want to know more about you. There are various techniques to encourage your social media followers to visit your website. You can either try it using stories, posting memes or videos on your social media. The engaging and actionable content will attract more visitors you will attract to your website.
How to Track Social Media Referral
You can track the referral traffic easily using Google Analytics Tool. Just go to Acquisition > social to measure the social media referral. It clearly shows the number of people visiting your website from social media platforms. One of the most essential social media metrics, it allows you to separate both paid and organic referrals using a UTM parameter.
5. Conversion and Conversion Rate
In this world, when affiliate marketing is getting pace, measuring conversion rate makes more sense than ever before. One of the most important social media metrics, tracking the conversion rate of your social media campaign helps you measure your efforts.
Conversion is something that is quite specific to your business model. It is perhaps the most accurate social media metric which plays a great role in redefining your social media strategy.
A conversion rate may be defined as a direct purchase in affiliate marketing, but it also includes subscribing to your newsletter, downloading content, or registering for any local event.
Why Conversion Rate Is Important
In social media advertising and affiliate marketing, the conversion rate matters a lot. While it has a direct impact on your Return on Investment, it is essential to track your conversion rate properly.
How To Track Conversion Rate
You can track it using Facebook Pixel which also applies on Instagram and campaigns placed through Facebook. If you are not running paid social media campaigns, you can track user’s paths through short URLs or call-to-action links. It will make them easy to collect the data effectively.
While it is easy to get all the data in one place. You better ensure that you are tracking all social media metrics carefully. Also, remember that you are not measuring these metrics to impress your boss, it will change your social media strategy and impact your business as well.