As a social media marketer, you know how significant it is to demonstrate the value of your work and set an impact on the decision you have made. You also have to keep in mind that only a great marketing strategy enables your business to walk on the success stairs. 

However, for that, you need appropriate data or metrics. From making a smart decision to using a precise strategy to grow your business, everything requires a metric to measure your performance. And, it is not only applicable for marketing your website or business but also required is social media marketing. 

So, what are social media metrics? And why is it relatively significant to track them? You will get the answer to this question in this blog today.  

What Are Social Media Metrics?

Social Media Metrics means utilizing data to measure the impact of social media activity on a company’s revenue. Marketers use social media monitoring software that enables them to observe their social platforms and gather information about how they perceive the brand, company, or product-related topics.  

Types Of Social Media Metrics And How To Go Beyond Them?

Social Funnel

A social funnel is a path that your customer travels through. It includes the initial stage when someone gets to know about your business to the stage where they purchase a product from it. In a nutshell, it is a map route to conversion and beyond. 

With the help of precise analysis, you can improve the strategy of influencing customers towards your products and services. A social media marketing funnel ends only when your customer becomes loyal to your brand. The most essential social media marketing metrics involve awareness, consideration, action, engagement, and advocacy. 

If social media is a significant part of the marketing strategy, it is essential to incorporate social posts according to the stage in the funnel. This way, you can help your customer in their journey organically. 

Awareness Metrics

Awareness metrics help you in identifying your current and potential customers. It includes:

  • Brand awareness is the insight you get concerning the attention acquired by your brand across the social media platforms during a reporting period. 
  • The audience’s growth rate helps you to identify the speed with which your brand is acquiring followers on social media. 
  • Post reach and potential reach provide you with the data concerning the number of people watching your post after it went live or the number of people who watched it during the reporting time. 
  • The social share of voice measures the number of people mentioning your brand on social media in comparison to the competitors.  
How To Go Beyond Awareness Metrics?

With the help of a brand monitoring tool, you can acquire social media metrics that include mentions, shares, links, and impressions. Using the same tool, track down your competitor’s progress too. Also, be aware of the optimal time for posting your content on social media platforms. You can use the “When Your Fans Are Online” feature of Facebook. It will help you to increase your reach. For a more effortless experience, you can even use the best social media analytic tool. 

Engagement Metrics

Engagement metrics give you the data on the number of people interacting with the content.

  • It provides the applause rate, which gives insight into the number of approval actions a post receives other than your followers. 
  • It also provides an average engagement rate that shows the number of engagement actions a post receives. It is the most crucial metric since higher engagement means that the content is resonating with the audience.
  • Next is the amplification rate that is the ratio of shares per post to the number of followers. 
  • Then comes the virality rate that shows the number of people who shared your post to the number of unique views it got during reporting time.
How To Go Beyond Awareness Metrics?

If you want to improve your engagement metric, use a social media impact tool that will track the approval actions and makes the process relatively straightforward. However, keep in mind that the benchmark of this tool is different in distinct platforms.  

Conversion Metrics

Conversion Metrics provide you an overview of the effect your social media engagement has on the audience. 

  • The first thing it includes is the conversion rate that involves the number of visitors taking action after clicking on the link and visiting your page. If your conversion rate is higher, it means that your target audience is considering your content valuable and compelling. 
  • Next is the Click-through rate that shows the number of people clicking on the call-to-action link provided in the post. 
  • Bounce Rate gives the percentage of visitors visiting your page and clicking on the link given in your post. But quickly leave it without taking any action. 
  • Cost-Per click is another metric that involves the amount you pay to the individual who clicks on your sponsored social media post. 
  • CPM is about how much you pay people in addition to your sponsored social media posts.
  • The social media conversion rate shows the total number of conversions you acquire on social media in the form of a percentage.
How To Go Beyond Awareness Metrics?

It is significant to know that a post’s conversion rate is always high even if the traffic is low. However, you need to measure the clicks and impressions within a similar reporting time. This way, you will prove the effectiveness of your social media efforts and go a long way in proving its value to the business. Also, do not leave your CPC or CPM campaign unattended for a longer timeframe. 

For social media conversion rate, create a link in the post using a shortened URL by placing a “Cookie” on the user’s machine. Then, measure the total number of conversions. It is very effective as it helps you to acquire insight into the success of each post in a campaign.  

Customer Metrics

Customer Metrics provides you with insight into your customer’s perspective about your brand. It includes:

  • Customer Testimonials, which include customer reviews, assessments, comments, endorsements, or interviews concerning your brand. 
  • Customer Satisfaction score measures the number of people satisfied with your products or services. 
  • Net Promoter Score gives your metrics about the number of loyal customers. 
How To Go Beyond Awareness Metrics?

For customer metrics, you have to ask your best customers to give your reviews concerning your product and services. Also, run a social media campaign that influences the people creating written, video, or online testimonials of your products or services. 

Create a survey to obtain feedback about the product and change it accordingly. 

Key Takeaway

The performance of your website, content, and social media impact every aspect of the business dramatically. Hence, it is significant to monitor the metrics regularly and build a sturdy strategy that improves the conversion rate. Although it is relatively challenging, as soon as you start making numbers work for you, it increases the customers, sales, and business altogether. 

You will also discover the opportunities you are missing for quite a long time and work hard on specific social channels on grabbing them. Because in the end, the entire time and effort are for making informed decisions for the business. 

Also Read: 10 Solutions for Social Media Analytics, Monitoring & Marketing