This video discusses seven essential social media metrics that marketers need to track. The first metric is reach, which refers to the number of people who see your content. It is important to analyze whether you are reaching enough people and if they are converting. The second metric is impressions, which measure the number of times your content is viewed. Monitoring impressions allows you to assess whether your content is gaining visibility. The third metric is engagement rate, which measures the level of interaction and involvement with your content. Comparing your engagement rate with your competitors can provide valuable insights. The fourth metric is amplification rate, which measures the extent to which your content is shared by your followers. Understanding amplification rate helps identify the most shareable content. The fifth metric is virality rate, which calculates the percentage of shares based on the number of impressions. This metric is useful for measuring the impact of your content's reach. The sixth metric is audience growth rate, which measures the rate at which you are acquiring new followers. Lastly, the most important metric is ROI (Return on Investment), which assesses the effectiveness and profitability of your social media efforts. It is crucial to track which posts generate the most return and to understand the channels that contribute to your biggest ROI.
- Seven social media metrics you need to track.
You might be on every single meaningful social media site
out there but all your effort isn't really worth anything
unless you're tracking what's driving your results
and what's not.
Trust me, there have been plenty of times
I post something out there and I thought that was great.
Well, I gained no traction.
Sure, I may have gotten some likes or impressions
but those things really didn't help my business grow.
So, what do I do after a post like that?
I go to the numbers and not the big ones like,
hey there are 4.5 billion users
on social media according to status that's a obvious one
and that doesn't really help move the needle.
When I'm talking about when I say numbers
I'm talking about the metrics,
the essential ones that you know you need to track
and you need to optimize to maximize your return
on social media spend or just your time on social media.
So metric number one, reach.
This is a easy one.
Reach is the number of people who see your content.
It's always important to ask yourself two main questions
with this one,
whether or not you're reaching enough people.
If you're reaching enough people why aren't they converting?
Nearly 75% of the world's population
over the age of 13 uses social media.
So, your audience is out there.
Pay attention to an important subset of your reach.
What percentage is made up of followers
versus non followers?
What percentage is made up from followers
within your ideal regions and age range
that you're targeting that's the right fit
to buy your product or service?
If you're targeting the wrong type of people
you may want to adjust your content,
look to see what some of your competitors do
so that way you can target the right people
and generate more sales.
Metric two, impressions.
Meta saw impressions grow 10% in 2021.
Yes, if they're seeing impressions grow
and 2022 and 2023 and over time, numbers change.
But when you think about this, if these social networks
are seeing their percentages grow,
your percentages should also grow.
But on the flip side, if their percentages are decreasing
and yours are decreasing, you're like, wait,
I'm not getting as many impressions.
What am I doing wrong?
Well, let's say a social platform's, you know,
impressions decrease by 20%,
but your impressions maintain flat.
That means you're doing something right.
If they're actually gaining users, you would be
doing better, but that's why tracking impressions
is super important.
Metric three, engagement rate.
Facebook engagement rate benchmark is 0.06%.
Instagram engagement rate benchmark is 0.68%.
That just gives you idea,
you want to be doing better than your competition.
Forget these bench, you know, mark stats, instead,
the easiest way to figure out how you're doing
on all the social networks is go look at your competition,
see their engagement rate with how many likes
and comments they're getting per post
based on how many followers they have.
So if they get a thousand likes when they have a hundred
thousand thousand followers, that's a 1% engagement rate.
If you're doing better than your competition,
you're doing good.
Metric four, amplification rate.
The ratio of shares per post
to the overall number of followers.
Coined by Avinash Kaushik,
the author and digital marketer at Google,
amplification is the rate at which your followers
take your content and share it through their network.
So, you want to really look at this
because you can see what kind of content is helping you
and which content isn't really getting you the amplification
that you're looking for.
You want to create more of the content that is
getting you the amplification and less of the content
that isn't getting you much of it.
Metric five, virality rate.
Similar to amplification in that
it measures how much your content is shared,
but virality rate calculates share as a percentage
of the impressions rather than
as an impression of followers.
Metric six, audience growth rate.
How many new followers are you getting on social media
over a certain period of time as a percentage
of your total audience?
Here's a tip for you.
If you want to grow your audience fast, get on TikTok.
It's the fastest growing social network with
105% user growth in the US over the last couple years.
Metric seven, social referrals.
According to HubSpot, consumers are 71% more likely
to make a purchase based on social referrals.
Now, social referrals are huge because it's other people
vouching for you saying your product
or your service is good.
Think of it as a version of review or a rating on Amazon.
That's the same concept with let's say, social referrals.
Now, a bonus metric for you
and this is the most important one
which is why I really want to save it for last
and this would technically be number eight, is ROI.
What is your ROI on social media?
What posts are getting you the most return
versus which posts are generating very little to nothing?
And you can track this in Google Analytics.
You can set up goal and conversion tracking.
Also, when someone completes a lead form or a purchase
or buys a service from your signs up
you can also survey them and ask them how they find you
and where they signed up from.
This will give you an idea of what channels are giving you
your biggest ROI.
And if they said, hey, social media,
well what posts on social media made you find me?
They may remember, they may not.
But it all helps out, especially when you combine
that with Google Analytics goal tracking.
Now, if you need help with your social media marketing
and setting up your analytics and tracking your ROI
from social media, check out my ad agency, NP Digital.
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tell the people about it.
If you have questions, leave a account below.
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Social media is a powerful tool for businesses, but simply having a presence on various platforms is not enough. To truly see results and fuel business growth, it's important to track the right metrics. Here are seven essential social media metrics that every marketer should keep an eye on:
Reach refers to the number of people who see your content. It's crucial to assess whether you're reaching enough people and if they are converting into customers. Consider the percentage of followers versus non-followers in your reach, and target the right audience to generate more sales.
Impressions indicate how many times your content is being seen. If the social platforms you're using show an increase in impressions, your content should also see growth. Tracking impressions helps you identify if you're reaching enough people and if your strategies are working effectively.
Engagement rate measures the level of interaction your content receives. Benchmarking against your competition can provide insights into how well you're performing on different social networks. Higher engagement rates indicate that you're connecting with your audience effectively.
Amplification rate is the ratio of shares to the overall number of followers. This metric helps you understand which types of content are being shared more and resonating with your audience. Focus on creating content that generates more amplification and discard those that don't.
Similar to amplification rate, virality rate calculates the percentage of shares based on impressions rather than followers. This metric reveals how widely your content is being shared and can help you gauge its impact on a larger audience.
Audience growth rate measures the number of new followers gained over a specific period as a percentage of your total audience. To expand your audience quickly, consider leveraging platforms like TikTok, which has experienced significant growth in recent years.
Social referrals occur when consumers make a purchase based on recommendations from others on social media. This metric highlights the importance of positive word-of-mouth and reflects the impact of social validation on your business's success.
The most crucial metric that determines the success of your social media efforts is return on investment (ROI). Tracking which posts generate the most return and align with your business goals is vital. Implementing Google Analytics and conversion tracking can help measure the effectiveness of your social media campaigns.
In conclusion, tracking these essential social media metrics is crucial for optimizing your efforts, increasing your reach, and maximizing your return on investment. By focusing on the right metrics and constantly refining your strategies, you can achieve significant growth and success in your social media marketing endeavors.
If you need assistance with your social media marketing and setting up analytics to track your ROI, feel free to check out NP Digital, our digital marketing agency.
Remember, constant monitoring and improvement are key to mastering the social media game!
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