Which Social Media metrics you need to keep watch on?
Which Social Media metrics you need to keep watch on?
Social Media and hence Social Media Marketing (Digital Marketing’s edge portion) has tremendous power to uplift the business in this digital landscape. However, it all comes down to if you are using it appropriately. Otherwise, it will not do any good for you. Therefore, here is a comprehensive Social Media metrics list you need to track, alongside the methods you can find them out.
Sounds fascinated? Let’s get started.
CTR – Click Through Rate
It concerns the number of clicks that your posts typically get. Therefore, tracking it tells you the posts are appealing to the target audiences or not. Eventually, you can keep post devising tactics as it is or modify it. Simply divide the clicks (number) with the number of impressions. Afterward, multiply it with the 100, and it will relate the CTR.
Conversion Rate
Conversion rate is the number of individuals who end up purchasing with you, signing up, or drawing whatever action you want them to take on your links/ posts. Besides, this measure from Social Media metrics tells you what good is social media drawing for your business.
For calculation, divide the number of conversions via the post by the number of clicks and multiply by 100.
Potential & Post Reach
The number of followers can be an important factor here. However, you can’t be sure that all of your followers will interact and engage with you every time. Therefore, reach is the number of views.
Potential reach is the number that you expect your posted content can have after being live. Likewise, the post reach is the number of people that actually view your published content.
Obviously, you can compute potential reach by looking at your previous record (of any month). Whereas, for post reach, divide the number of impressions by the number of followers you have and multiply by 100.
Brand Awareness & Average Engagement Rate
Awareness calculates how much people are attentive towards you. How much they know about you? One of the essential Social Media metrics is the engagement rate. That is how much your audience found you captivating, and think about purchasing with you whenever they need your business-relevant services and products.
There is no specific formula for this. However, you can scan over the number of impressions, likes, shares, tweets, comments, applause, etc.
CPC – Cost-Per-Click
Social media offers two approaches; organic and paid. Every time your post/ link/ ads get clicked, in the paid scenario, you have to pay. Therefore, you need to be sure how much you are spending on Social Media Marketing. Moreover, together with other metrics, CPC tells you, is your spending well worth it or not?
Audience Growth Rate
How often are you getting new followers for your business? Want to know? Multiply 100 with the number you get after dividing the number of new followers with the net followers, and you get a percentage audience growth rate
Bounce Rate
If a visitor just after clicking the link/ ad/ post leaves the site/ page, it refers to bouncing. In simple words, they didn’t get what they have clicked for. You certainly need to work on your landing pages, content that leads to these pages, etc.
Installing Google Analytics for your website will narrate the social media bounce rate.
You can find many free or paid tools to calculate Social Media metrics. Further to make it easier, you can contact a Social Media Marketing Agency to watch on them. Moreover, you can also ask the company to manage your social media for you in poor performance.
