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From follower tallies to post engagement rates, social media metrics can be befuddling to swim into. Additionally, a new vital metric seems to be made on a week after week basis. Your goals are the determining factor behind the metrics. You need a metric that relates to them. Metrics help with social media performance and analyzing social media performance.
What Is Social Media Performance?
Social media performance is basically how your page has been performing, the rate of engagement you’ve received, how much it has been shared, and what kind of progress you have had. You get to know how your social media performance is and how you can improve it to do better.
The Value of Tracking Social Media Performance
Social media metrics play an imperative role since they demonstrate how you’ll be able to measure the effectiveness of a campaign, the status of your social media performance, and eventually whether you’ll have an impact or not on your overall commerce.
Not only does having the various metrics grant you an opportunity to exhibit the impact of your business to executives but also gives reliable social media metric working reports that can help your social media platforms to get a boost and progress in the right direction. This includes an increment in your budget.
Important Social Media KPIs You Should Be Tracking
There are a number of metrics that are helpful for your business. You should consider the following categories.
Reach KPIs measures how numerous clients come across your social media channels. These clients might only be associated with your social media channels latently. Keep in mind that engagement and reach are two completely different things. Reach data shows your existing and potential audience, brand awareness, and growth.
This shows how many times your post showed up on someone’s feed. It does not necessarily mean that they noticed it.
Tells about how many followers you have at a particular time.
Audience Growth Rate
This shows how your follower growth rate is changing over time.
Shows the number of people who interacted with your post since the time you uploaded it. This depends on your content and people online. It shows you what your audience finds interesting and valuable.
This shows the people who can see a post during a specific time. In other words, if a person reshared your post via their platform, then their followers would be a potential reach for your post.
Social Share of Voice
It shows the number of people that mentioned your brand while comparing it to the number of people who mentioned your competitor’s names. It shows how significant your brand is inside your industry.
Social Media Engagements KPIs
These measure the quality and degree of interactions with your followers. They showcase whether your followers like interacting with your posts and what you say.
The number of likes tells you how many times your followers interacted with your social media post by liking it.
This shows how many times the followers commented on your posts. Keep in mind that comments can be both positive and negative. Hence having a lot of comments on a post does not always mean that it is good for you.
It keeps track of only the positive approval interactions and interactions that are made with your post such as likes, favoriting a post, retweets, saves, etc.
Average Engagement Rate
This divides all the social media engagement your post receives, which includes comments, likes, favorites and saves, by the number of followers you have on a specific media channel. This showcases how engaging your post is on average.
This is the number of your followers who share your posts with their followers. It includes retweets, shares, programs, and re-pins. A high rate of amplification depicts that your audiences like associating with you.
These measure the number of social interactions that become website visits, purchases, sign-ups, or some other similar action. They show the effectiveness of the social media strategy and if it is good for your brand.
This reflects the number of your followers who perform actions that are mentioned in your CTA such as visiting the website, purchase, or subscribing to your page, etc in comparison to the number of interactions on the post. High rates of conversion show that your audience is liking your content.
Click-through Rate (CTR)
This shows people who followed the CTA. This shows if your content is good or not.
It is the percentage of people who clicked on the links on your post but left the page quickly.
Cost per Click (CPC)
It is the amount you pay to the social media platforms for sponsoring your page.
Cost per Thousand Impression (CPM)
It is the amount you pay when your sponsored post gets a thousand scrolls.
Customer Satisfaction KPIs
These are tracked so that you know what your followers think about your business. This gives you feedback.
Reviews and ratings given by your customers show how good or bad your content is.
Customer Satisfaction Score (CSat)
This showcases how satisfied your audience is with the brand.
Net Promoter Score (NPS)
This depicts the loyalty of your followers.
5 Ways to Analyze Your Social Media Marketing Performance
If you want to improve your social media marketing performance, you need to measure and analyze your efforts. Look at the engagement rates of your posts—how many likes, comments, and shares they receive. Analyze which topics generate the most discussion and attention. Track how much traffic each social media platform sends to your website. It will reveal what part of your strategy is working and which places can improve.
Here are five ways to help you analyze your performance.
Examine Follower Growth to Identify Anomalies in Audience Behavior
You will get better insights when you study your brand’s social media analytics and pay attention to the graph of follower growth. Keep check of the outliers in the information.
Look at Impressions to Spot Irregularities in Reach
Most social media platforms have built-in analytics that shows impressions your page receives. They may increase when you post more. Keep track of that.
Monitor Engagement to Find Peaks and Valleys in Interactions
If your page receives no engagement then any number of followers will do you no good. When the engagement is good that means your audience likes your content. Keep track of things that invite more interactions and engagement.
Review Clicks and Traffic to Reveal Inconsistencies with Website Experience
When analyzing, see how many clicks you receive and the traffic you get on your website. Keep in mind the traffic that has been recommended. This shows what your audience likes.
View Mentions and Sentiments to Assess Overall Brand Reputation
For this use a listing tool. It will show how many times people mention your brand. Create a report and see what brings in the best response.
Best Tools to Analyze Social Media Performance
Here are some best tools that analyze social media performance:
It helps you keep track of data such as from where your audience visits your page and how your content is being shared. It helps you secure your goals.
This is one of the best tools for management. It collects data and tells you how you can improve. You can also compare the data with other platforms
With the help of this app, you can compare the data of all your social media platforms. You can improve your future performance.
It provides you with real-time monitoring. You can monitor engagement. It helps in understanding the recent trends too.
This helps you in calculating the impact of your posts. It helps in tracking all the hashtags.
Has features like social performance analytics, competitor insights, reports of campaigns on all social media platforms, and reports.
Helps in calculating ROI, organizing content, and also scheduling posts.
Helps you perform an entire audit of your social media platform. This way you can progress in the right manner.
Now you know why metrics are important for your social media platforms. They help you in Analyzing your social media performance. Therefore you should go ahead and take the help of these apps so that you can improve your overall social media performance. This is the way to go if you want to expand your business.