7 Social Media Metrics You Need to Track

- 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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