With the endless amounts of data available on the performance of our Social Media Ads and posts, it can be hard to figure out which metrics we should be checking. Knowing which stats to look at can help you truly understand how effective your social media efforts are and how you can adjust your strategy to receive better results.
In this guide we’ll talk you through the top 5 social media metrics we think every business should be tracking and how you can use this data to create more effective content. Let’s get straight into it.
Every business wants to reach a large audience when pushing out organic content on social media as it generally leads to an increase in other metrics (e.g. clicks, conversions, likes, comments etc.). A large reach also helps to increase brand awareness which in turn can help improve brand and product recognition.
But how do you optimise your posts for a larger reach? Creating genuinely engaging and relevant content for your audience will help gain the trust of the algorithms which will reward you with a larger outreach. Another method is to schedule your posts (link to scheduling tools) to go out when your audience is most active on each channel. This will ensure you reach as much of your audience as possible.
The number of followers you have on your social channels will massively impact the reach, engagement, clicks and conversions of your posts. Not only that but it will help identify what content people are finding most valuable and what they want to see more of. Similarly to your reach, the best way to increase your followers is by publishing engaging and valuable content that people will want to see more of. And the more frequently you post that content, the more likely people are to follow you.
Your Click-through Rate (CTR) is the percentage of people who click your post or ad out of the total number of people reached. This metric is extremely important when directing people to a page that includes the desired action of the ad or post (e.g. click to email, complete a purchase or fill out a form). Your click-through rate will also have a massive impact on the cost per click of your Ad campaigns as the social platforms use this data to rate the quality and relevancy of your ads. Therefore the higher your click-through rate is, the more they will trust you and the less you will be paying for each click.
The number of conversions you receive for each post/ad campaign is one of the most important metrics to track and analyse on social media. However, it is often overlooked as it is generally harder to access than a lot of other metrics. To track your online conversions in Facebook, Instagram, Twitter and LinkedIn you will be required to create and add a Pixel to your website or set up conversion tracking within Google Analytics. This will allow you to see which channel or piece of content is leading to the most conversions. This data can then be used to make informed decisions on where to focus your marketing efforts.
Generally used in paid campaigns, the cost per result metric is a great way of judging how cost-effective your campaigns are. The result of your campaign refers to the main objective you are trying to achieve from your Ads (e.g. Clicks, Landing Page View, Conversion, App Install etc.). The CPR metric allows you to see how much you are paying for each of these results which can be used to figure out which channels are driving the most results for the lowest costs.
Need help capturing, curating or publishing content for your Business? Get in touch today to see what we can do for you!