Social media KPIs form an important part of your overall social media marketing strategy. All your social media activities need to be measured in order to understand your audience’s reaction. Your social media KPIs or key performance indicators help you determine just this.
Social media KPIs provide you with a sense of direction on your social media strategy. This helps you frame efficient social media strategies that will help you fulfill social media goals. You can ascertain what should be your next steps with regard to your social media actions by keeping track of your social media KPIs. Use this information to identify which aspects of your social media activity need more focus and which ones are not giving back any results. Whether it is the nature or the type of your content that needs to be changed or your content delivery strategy, your social media KPIs will help you get an answer to this question.
You can track your social media KPIs using a good social media analytics tool like Unbox Social. With this tool, you can track and monitor your social media activity across different platforms. From your engagement levels to audience analytics, Unbox Social, lets you stay on top of all important aspects of your social media marketing. You can generate comprehensive social media reports and uncover important insights and KPIs using this social media reporting tool.
But before you jump into the analytics, it is important to know which are the top social media KPIs that you should be tracking on the platform. There are 3 main social media metrics, under which fall the different social media KPIs you need to track. The 3 social media metrics are:
Outreach Metrics: How many people are seeing your brand on social media
Engagement Metrics: How many people are engaging and interacting with your brand
Conversion Metrics: How many people are becoming your paid customers
Here are the top social media KPIs that you need to track right now are:
Top Social Media KPIs
Fans or Followers
This is the total number of people who are following your brand on a given social media platform. It indicates how many people you have the potential to reach out to. Although having a good number of followers may appear to be a very good sign for your social media, it is only a vanity metric when monitored alone. Monitor it along with other engagement and reach metrics to derive more actionable insights for your social media activity. For instance, measuring your total shares against your total followers will indicate how well your content is being received by your followers.
Reach and Impressions
Reach is the total number of people who view your content on social media. Impressions on the other hand indicate the number of times people saw your content. In this sense, reach indicates the total unique impressions.
If your content is receiving low impressions and unique impressions, it could be a sign that you need to make changes to your content strategy. Is your content not impactful enough, or maybe you need to rethink your content delivery strategy?
In this sense, your reach and impressions help determine if you need to make changes to your social media strategy.
Your Share of Voice
It allows you to know how many people are talking about your brand on social media. How many conversations on social media are happening around your brand? It indicates how much conversations about your brand dominate the industry. It also gives you an idea as to where you stand in comparison to your competitors. This is one of the outreach metrics that help you define your position in the industry.
Likes on social media are indicators of your engagement. A good social media post will have more likes than others. If a piece of content has a good number of likes, it means that the content was powerful enough to push people to hit the like button.
Your social media likes simply indicate if people liked your content. You can use social media posts with more likes as an inspiration for future content posts. At the same time, you can learn from content posts with less likes to create better in future.
If likes are a good indicator of your social media engagement, your shares are an even better indicator that people like your content. It indicates how often and how many people are liking your content to refer it and share it with others.
If you have a good number of shares on a particular piece of content, it is an indication that people resonate with your content and refer it to others. The suggestion again would be to keep track of content that received a good number of shares to draw inspiration and ideas.
All your direct, as well as indirect sales through social media, indicate your brand’s conversion metrics. These depict if your social media activity is ultimately getting people to actually purchase your products. If you are putting in the time, money and efforts to post your content for your target audience, you need to track if these efforts are bringing you the desired results.
If your social media performance is not bringing you any profits, you may need to consider making modifications in your strategy.
Is your content generating conversations on social media? The number of comments on your social media as well as the nature of your comments also offer an insight into your content. If your content is not drawing many comments, then you need to either push for more traction. Or you may need to reconsider the type of content you are posting.
Keep an eye out for comments that are not good for your brand, that is, comments that are critical. Even one critical comment can ruin your reputation and outdo all the good response that you may have received so far.
Constantly watch out for this social media KPI to determine what you need to do to increase your engagement through your content.
@ mentions, brand mentions and tags
The number of mentions or tags that your brand has, is another valuable indicator of your social media engagement. Every brand mention will help you derive an idea about how people are viewing not just your content, but your brand in general.
Your brand mentions and tags are one of the most valuable indicators determining people’s opinions about your brand, products or content. Keep track of all your brand mentions and tags to stay on top of any complaints and to gain feedback in general.
Your social media leads are the people who have shown interest in your brand but have not yet made a purchase. It is important to monitor leads to know if your social media activity is on the right track. After all, when you are using social media, you are making investments in terms of time, money and efforts. In this sense, if people are not showing interest in your products or brand, you may need to make changes to your strategy.
Direct and Indirect Sales
Since you are putting in the money and efforts to create lucrative social media campaigns, you need to measure the ROI on these efforts. By tracking important social media KPIs, you can get insights on which aspects of your platform require more attention.
Here is a snapshot of all the social media KPIs you need to track right now:
- Fans or followers
- Reach and impressions
- Your share of voice
- @ mentions, brand mentions and tags
- Leads Generation
- Direct and indirect sales