Are you tracking how well your social media is performing? Even if you know it’s working, being able to prove that can be tricky if you aren’t tracking certain metrics.
Choosing the right metrics is important in developing reports that show what happens on your social media channels and how that impacts the business. While there are hundreds of metrics you can measure, selecting just a few of the ones that matter most for your goals can go a long way. Proving your ROI is important to any business, so here are some metrics you should consider tracking as your key performance indicators (KPIs) as you work to prove the effectiveness of your social media campaigns.
Engagement: The engagement rate can give you a really good idea about how your posts are performing. This number includes clicks, likes, comments and shares of a particular post. The higher the number the better.
Impressions: This is how many times your posts show up on a newsfeed/timeline. It’s not how many people saw it though — sometimes one person may have seen your post several times on their timeline.
Website traffic from social media: This is an important one — how many people are going to your website from social channels? It’s the first step in taking someone from follower to customer, so tracking how many sessions are generated from LinkedIn or Twitter (or other social networks) can give you an idea of what’s working.
Conversions: This is how you know it’s working. The conversion rate is dependent upon the goal of the campaign — if you want to get more email signups, then your conversion rate is the percentage of people who signed up of the referrals. If you want leads, it’s the percentage of leads (preferably qualified leads). If your goal is to have people download a white paper or register for a webinar, that is your conversion rate.
Followers: As you grow your brand online, keep an eye on your followers. However, it’s important to remember that not every single person who follows you sees each post you put out there. Getting the right followers who are engaged with your brand is what’s key here.
There are a number of other KPIs out there, and a quick search will bring up articles listing out what KPIs you can measure for which goals. But the key is: Measure how your social media is performing.