11 important KPIs to follow to measure social media success
We live in a hyper-connected digital world that is driven by data. And with so much emphasis on social media marketing, businesses need to gather meaningful information about their audience to make sure their marketing efforts aren’t wasted. You might put a lot of energy into curating the best content for your social profiles, but if you don’t track your results, it will be like rowing a boat without oars.
Let me say it – your social media profiles aren’t just for increasing brand awareness. They are there to drive engagement, generate leads, increase your website traffic, provide customer service, and drive conversions.
So how do you achieve all of this? By setting goals and tracking your results. Here are 11 important social media KPIs that you should measure regularly:
1. Audience growth rate and number of subscribers
Watching the number of subscribers is no feat. You can check these numbers right from your dashboard / profile. But keeping an eye on the audience growth rate will give you an idea of how fast your subscribers are growing. So it’s not about how many subscribers you have, but how quickly they grow.
To calculate your audience growth rate, divide the number of new subscribers for a given month on a social platform by the total audience. Multiply this number by 100 and the resulting number will be your audience growth percentage. For Instagram, you can check this metric directly from the Insights section if you have a business account.
2. Scope and impressions
Post Reach is the total number of unique accounts that have viewed your post since it was downloaded, while Impressions are the total number of times your post has been viewed by people. The number of impressions is usually higher than the number of your subscribers and the reach of the post because a person can have multiple impressions for a single post.
Most social media platforms provide this data in the analytics section, including Instagram and Twitter. If you want to calculate the reach percentage yourself, here is the formula: Post Reach = Post Views / Total followers × 100
3. Likes and comments
Likes and comments are a way to analyze how much your audience liked your content. Although platforms like Instagram and Facebook offer the option to hide the number of likes, you can display your own metrics in the Insights section. More likes is also a sign for algorithms that your content deserves a place on crawl pages.
Along with likes, comments are another important form of interaction that your content should receive. They are a good indicator of an engaging post and can help you strike up a conversation with your followers. Including a good caption and a CTA can attract more comments.
A lot of people tend to like a maximum of the posts that appear on their threads. Shares, however, is a metric that shows people really liked your content and found it worth sharing with their audience, which helps improve brand awareness online. It’s a conscious decision made by your followers to invite others to view your posts.
On Twitter, shares are essentially retweets. On Pinterest, it’s a repin. And on Instagram and Facebook, the share icon can be used to post in DMs, stories or feeds. If you have a high number of shares, that also indicates that your post is viral.
5. Profile visits
Not all social media platforms provide this metric. But if they offer, like Instagram, you should take a look. When someone finds out about your brand and what you have to offer, they will visit your social media profiles, visit your website, sign up for the newsletter, and more. The number of profile visits indicates how many people have visited your feed to view your content.
It indicates people’s interest in your brand beyond your last post. If people visit their profile frequently, it’s a good sign to keep your profile always up to date with your most important link destinations included in the bio.
6. Share of votes and brand mentions
Social Voice Share (SSoV) is a metric that tracks how many people have mentioned your brand on social media compared to the number of people who have mentioned your competition. It shows how popular your brand is in the industry. The more you share your voice, the greater your popularity on the social platform.
Using a social listening tool can let you know how many people are discussing your brand on a particular social network. It can help you uncover any request or complaint and make things better for your brand. You can also keep an eye out for mentions from your competition to see if you’re missing out anywhere.
7. Click-through rate
Click-through Rate (CTR) will count the number of times people clicked on your call-to-action buttons or links when they viewed your post. This metric is an indicator of whether or not your content is prompting your audience to take the desired action.
To improve your link clicks, don’t be afraid to share your linked content on the same social platform multiple times. Include clickable links where appropriate, especially to get engagement on Twitter. Highlight your CTA with an emoji or special text. You can also use Twitter cards so that when people share a link to your comment, the image and title of your post are visible.
8. Cost per click
Cost per click is an important metric for calculating your ROI when serving ads on social media platforms. Paid campaigns are certainly worth your investment, but measuring your success is important to optimize future promotions.
Thanks to the CPC, you will be able to know the amount you pay for each click received. This will allow you to determine if you are getting a positive return on your advertising investment. CPC can be calculated by dividing total ad spend by the total number of clicks measured. The lower the CPC, the better.
9. Reference traffic
Social SEO traffic is the number of people who visit your website by clicking on a link on your social profiles. This is an important metric to track because it shows the interested prospects you have encouraged. This is the traffic that will potentially be converted into paying customers in the near future.
To track this, in Google Analytics, go to Acquisition> Social> Network Referrals. There you will be able to see a report showing the traffic received from different social platforms. If you can’t get enough traffic to your social media website, change the way you write your content and CTAs.
10. Leads generated
Before generating sales, you should track the number of leads generated from your social sites. A successful lead can be counted as the contact information obtained from a qualified prospect through a social media post.
Whether someone signs up for your newsletter, fills out an inquiry form, or downloads your e-book, it indicates that they are interested in what you have to offer and want to stay in touch with your brand. You can further nurture these leads to convert them into paying customers.
11. Direct and indirect conversions
Without a doubt, the end goal of putting all of that effort into social media marketing is to generate sales and grow your brand. So, in addition to building awareness and increasing the number of subscribers, your social accounts should generate business. Thanks to Google Analytics, you can measure your lead conversion rate.
Along with direct sales, you should also consider indirect conversions, which can include eBook downloads, newsletter signups, whitepaper downloads, form fills, and more. Generate a QR code for your website and embed it in the post. to get more traffic, which ultimately leads to more conversion. These actions can turn out to be action triggers and turn into long-term direct sales. So, if your business allows it, you can consider indirect conversions in your social media reports.
In a word,
It is imperative to track and measure the impact of your social media marketing campaigns. At first, you might have a hard time choosing the right KPIs for your social media. So, to help you, here is a quick overview:
- Get to the situation and understand what, when and how you want to measure.
- Clearly define your goals because you won’t have time to analyze every metric that comes your way.
- Select the metrics you need to measure your goals.
- Stay away from vanity measures that don’t add value to your end goals.
- Once you’ve chosen your KPIs, evaluate your efforts consistently and stay ahead of the competition.
Alright, it’s time to start now!