Any social media advertising company can tell you that navigating the world of social media metrics may be difficult. It often seems like a new vital metric develops every time you begin to get the hang of things.
Do you know what metrics you should be keeping track of? Is it even necessary to measure them for your company? This article will walk you through the essential metrics that any firm may find worthy of tracking in 2021 and beyond.
What Are Social Media Metrics? Why Should You Track Them?
Your social media goals determine your metrics. Every plan comes with a statistic that you can use to judge whether or not your social strategy is on track. Increased conversions, for example, could be one of your company’s goals. That means that increasing conversions from those who visit your site—whether through organic or inorganic means—will be your social media aim.
Social media metrics are significant because they demonstrate that you can assess the success of a campaign, the effectiveness of your social strategy, and, ultimately, whether you will impact your entire organization.
What Social Media Metrics Should You Measure?
Here are five easy but beneficial social media metrics you should track right now:
Volume is the first and most straightforward social media statistic to assess. How big is the conversation around your brand or your campaign? The initial indicator of interest is volume. People usually talk about what they like or dislike, but they rarely talk about what they don’t care about at all.
Find out when there is a spike in activity—are there days or periods when more people seem to be talking about your brand? Use this data to schedule more of your articles around these hours to increase engagement, which we’ll discuss in a moment.
You can measure the spread of social media discourse by reach; it can assist you in grasping the context for your content on its own. What is the reach of your material, and who is the target audience for your message? The term “reach” refers to the size of a possible audience.
Sure, having a broad audience is beneficial, but reach alone does not reveal all. When compared to other engagement measures, reach becomes quite powerful. In your social media measurement formulae, use reach as the denominator.
When it comes to social media engagement metrics, this is one of the most crucial areas to track. What are the different ways that individuals are interacting with your brand? What are they doing to promote your content and get people to talk about it?
Content can be shared and responded to in most social media venues. Retweets (RTs) on Twitter and Facebook shares and posts help you see who is sharing your content, while comments, replies, and likes help you know who is responding to it. Consider your social media objectives carefully. Make sure the metrics you’re utilizing match what’s crucial to your brand right now.
Who is talking about your brand, and how significant is their influence? The impact is undoubtedly the most divisive social media statistic; many tools measure social power, and they may use different formulae to do so. However, they all agree on one thing: audience size does not always correlate with influence. Just because someone has many friends or followers does not guarantee they can motivate them to accomplish anything.
5. Share of Voice
Finally, it would be best to consider a share of voice statistics to comprehend how well you’re performing on social media. What is the difference between conversations about your brand and conversations about your competitors?
Compare your percentage to your primary competitors. Determine the general debate about what you focus on your brand. And, because so many of these social media interactions are public, you can measure your competitors’ influence just as easily as your own.
What’s next? Do you need help in tracking your social media metrics?
Among the many social media metrics available to you to track, we’ve compiled the essential ones that matter for most businesses and most goals. Metrics are important because they tell if a campaign or strategy is successful over time.
Are you considering working with experts? CCG is a creative agency in California that offers a broad range of digital solutions, including social media services. We design our approach to unleash solutions that will connect you to your customers. Contact us today and start working with the best-in-industry professionals.