Publishing content through social media sites such as Facebook and Twitter generates tons of data, data which is valuable and should be used to improve your social media marketing. As a content creator, you have complete access to lots of useful information about how your content is being engaged with, acted on and received.
As social media’s impact grows even greater, there is an ever-increasing stream of data available, and lots of this can be used for your business. When you are posting and engaging regularly through social media, you should be using this data to improve your social influence, so you can get optimum results for your business.
It can seem hard, though – with all the data available, it is not always easy to determine which data is relevant. There are several different metrics which each paint a different picture, and you need to know which ones to monitor and make sense of.
Here are five metrics you should be tracking –
Audience Growth Rate
Your audience growth rate tells you about your reach – where and how your posts are appearing to an audience. Facebook has a convenient way of tracking this, and keeping an eye on audience growth rate helps you evaluate your long-term marketing efforts without being distracted by metrics such as total followers.
You can use your growth rate to determine which marketing campaigns have been a success, or which posts performed best.
Impressions are the number of times your content has been displayed on someone’s feed, timeline, etc. and measuring it can be a little tricky. A unique individual can cause multiple impressions for one piece of content (e.g. if their friend shares it) and it would re-display in the original sharer’s feed.
It is still a useful metric to track, however, as it gives you a rough idea of how many people have seen your post. You can also boost your impressions by boosting a post with ads, and running individual ads, which can later translate into better engagement.
Engagement rate is the number (usually a percentage) of people who have been exposed to your content and have in some way engaged with it, either through shares, comments, likes or re-tweets.
Engagement rate is calculated by dividing the total number of engagements by the total number of impressions and multiplying it by one hundred to get a percentage. The higher this percentage, the better.
Assisted Social Conversions
Social media is more about just getting people to visit your brand’s website, it is about converting them from visitors into customers, however merely pushing your product is a sure-fire way to lose followers.
Assisted Social Conversions can be defined via Google Analytics and then used to follow your site’s visitors through social media channels and see how many are converted into customers over a period of time. Using this metric, you can chart which posts are paying off.
Share of Voice
This tells you how you are stacking up against your competitors. To understand how your social media channels are performing, you need to have at least a vague understanding of your competitors and how they perform and operate.
How much of your conversions are driven by your brand through mentions? There are tools which can track mentions across the web and social media channels, and they tell you whenever you are mentioned anywhere in any context.
When push comes to shove, having the right tools for the job of monitoring and tracking social media metrics is important. Although Facebook has some inbuilt tools, they are nowhere near as good as the many third-party tools which you can find on the internet. Often, these tools can track all of your social media channels from a single dashboard.