Each business has to make its space on social media. This helps in building a brand that the audience can trust and helps in spreading the word out. The power of social media is undeterred and it can positively affect your business if used smartly. Brands are making conscious investments in social media advertising to reach out to their target audience.
However, it is necessary that you focus on the right priorities if you wish to achieve success with social media marketing. To do that, it is important to keep track of the right social media marketing KPIs or “key performance indicators”.
The following indicators must be checked and monitored on a regular basis to measure the success of the marketing campaign. The best KPIs for social media are as follows:
- Number of Followers or Fans
It is important to determine the reach and how far your message is traveling. This can be calculated on the basis of the number of followers who have shown explicit interest in receiving content from your brand. The numbers of people who view your content, comment on it, and share it with others in their social circle can be easily calculated. The numbers can signify the reach.
- Number of Impressions
It is said that a higher number of impressions means that you’re connected to greater numbers of people, which is a great thing! Getting higher impressions means that a huge number of people are viewing what you’re posting.
- Number of Social Media Influencers
The latest trend is getting your brand endorsed by some social media influencer. These people are in the position to spread awareness about a particular topic, service, or product through the network they have built on different social media platforms. You could either ask an influencer with a high number of followers or someone with less yet close-knit followers. But for this, choose such influencers who are more connected and reliable to your brand.
- Your Voice
Social media can be used as a brilliant tool to help you generate a buzz around your product or service. Create brand awareness and make sure more and more relevant people recognize it. This will give you a clear idea of where your brand stands in terms of having people talk about your product or service.
- Number of Clicks
Engagement metrics are based on how your audience is interacting with your content and that is mainly based on clicks. Higher the number of clicks, higher is the chance of a conversion. However, focus on the number of likes and shares your content is receiving as that is essential too.
- Number of Likes
A post with a high number of likes gains higher credibility in the eyes of the people who come across it. It simply means that they “like” or relate to it. Also, the number of likes signifies that it is worthy and authoritative in nature.
- Number of Shares and comments
The next step after calculating the number of likes is its comparison to the number of shares and comments. Having a huge number of likes indicate the content is good enough but a large number share and comments imply that your engagement is going to the next level. People not just like the product or service in the post, but also want others to know about it as well. They wish to share their experience with others by interacting with the brand or other individuals. Handling negative and derogatory comments properly is another way to create goodwill of the brand in the eyes of social media users.
- Social Media Mentions
While measuring social media KPIs, it is important to keep a track of mentions. It helps in maintaining your online reputation and provides the customers with the answer that they have been looking for. Consequently, knowing your “mentions” helps you stay on your toes and ultimately gives you an edge over the competition.
- Number of Leads
It is of paramount importance to know those conversions that have not resulted in a sale. The number of social media followers converting into some kind of lead or subscriber matters a lot. Also, it gives you a fair idea where a marketer must focus your attention.
Creating a social media presence isn’t as simple as creating a profile. Social media marketing is a lot more than just that. It is a great medium to connect to your target audience and deliver them the value they are looking for. By tracking social media KPIs, a marketer can know the efficiency of their social media marketing campaigns and how effectively the word is spreading out for them while trying to create more meaningful relationships with your target audience.