Social Media KPIs
Social media marketing is an essential part of a successful business’s marketing strategy. Social media KPIs are used to measure the performance of implemented social media campaigns. They track social proof, build brand awareness, connect with your target audience, drive traffic to your website, and convert visitors into returning customers.
- Improve reach by post type metric – Your brand’s social media reach is the number of views a particular social media post receives. Posts are broken down into different types, like tweets, images, and social commentary. This metric measures how many unique visitors have viewed each post type, to determine which posts have social reach.
- Improve total watch time – Video is one of today’s most powerful promotional mediums available to the modern brand. YouTube is the go-to platform for social media marketers looking to grow their brand’s target audience. This KPI measures the total time that visitors to your brand’s YouTube channel have spent watching brand-specific content.
- Improve viewer retention metrics – Viewer retention is a metric offered by YouTube that measures how much of your brand’s video content viewers are watching. This metric also shows at what point viewers stop watching your content. Consequently, the “improve viewer retention” KPI helps you increase the number of retained viewers.
- Improve viewer information metrics – An essential aspect of social media marketing is to determine what sectors of your brand’s target audience you are attracting. Are you attracting consumers that are part of your brand’s target audience? If not, then you will have to adjust your social media marketing strategy to attract the correct audience.
- Improve new versus lost followers metric – Measuring the growth of your brand’s fan base over time metric is an essential social media KPI to track. A successful social media marketing campaign must consistently grow a targeted, focused follower base.
Social Media – Outreach objectives
Social media outreach is one of the most reliable methods to form new customer relationships, increase client engagement, and improve the visibility of the company’s brand. Consequently, measuring social media outreach metrics are a vital part of determining whether the social media campaign is successful or not.
- Improve follower count – Your outreach abilities are measured by increasing the number of followers on each social media platform you are required to monitor and maintain
- Increase the number of impressions – Social media impressions equate to the number of people your content or posts are visible to. The more times your brand’s social media posts are viewed, the greater the social influence
- Maintain a consistent brand voice – Maintaining a consistent brand voice across all social media platforms will increase social proof
Social Media – Engagement objectives
Engagement objectives are designed to create long-lasting relationships between the brand and its target audience. Consequently, it is essential to engage with social media followers who are credible and who have the potential to influence the brand’s target audience.
- Increase the number clicks per post – The number of clicks on a social media post is one of the most convenient forms of engagement to measure. The Click-through rate has the highest potential to convert.
- Increase post likes – Social media likes are a natural means of generating attention for your brand. The more likes a post has, the higher the engagement metrics. The greater the engagement metrics, the greater the social influence
- Increase social media shares – Post shares are a sign that your target audience is willing to recommend your brand to their friends and associates. In the age of social proof this is an essential metric to pay attention to.
- Increase the number of comments per post – The more comments your posts get, the more exposure your brand is receiving. The higher the number of comments, the more value your social media campaign is adding to your brand.
- Increase the number of social media mentions – Brand mentions on social media are an important metric to measure. Even though it is not always possible to directly influence the number of mentions, it is vital to be cognizant of what consumers say about your brand.
Social Media – Conversion rate objectives
Conversion rate objectives are designed to convert the brand’s target audience into returning customers. Social media plays an intrinsic role in improving the trust relationship between the brand and the consumer. Trust translates into loyalty. The more trust there is, the more likely the consumer will convert into a loyal customer.
- Increase sales revenue – The primary function of any social media campaign is to increase sales revenue by expanding on the brand’s social media exposure and social proof
- Increase lead conversion rates – The lead conversion rate indicates the number of leads who convert into loyal customers. Social proof encourages trust, which drives brand loyalty, resulting in customer conversions.
- Improve non-revenue conversions – Not all conversions must translate directly into sales. A successful social media conversion campaign can include signing up for an email newsletter, downloading an eBook, or filling out an online form.
Social Media – Customer loyalty objectives
Customer loyalty objectives are designed to measure the number of target audience conversions into returning customers. Social media plays an inherent role in building the trust relationship linking the brand and the consumer. The higher the trust, the greater the chance that the consumer will convert.
- Reduce cost per lead metrics – The cost per customer lead is a vital metric. Not only is it essential to know how much each lead costs, but it is also necessary to reduce this number.
- Increase the number of issues resolved – There is an increase in the number of customer service requests handled via social media. It is essential to respond to these requests timeously to increase the brand’s social proof
- Increase customer lifetime value metric – One of the most challenging assignments for any company to achieve involves increasing customer lifetime value. The more loyal your supporters become, the more inclined they will buy your products or services.
Measuring your social media marking strategy’s outcomes is not just about counting the number of likes a post receives. Therefore, social media marketing KPIs must track and drive improvements in the following areas:
- Social proof
- Build brand awareness among your brand’s targeted audience
- Grow your brand’s fan base
- Driving traffic to your brand’s website to convert visitors into returning customers.
- Post relevant, interesting, and consequential content that adds value to your target audience’s life.
- Engage in meaningful conversations with your client base.
- Track third-party mentions.
In order to implement a successful strategy, brands need to have an active social media presence on multiple channels like Facebook, Twitter, Instagram, and LinkedIn. In summary, consumers are keen on a social relationship with their favorite companies, and this goal is only achievable on social media. Consequently, it is just as important to measure how successful your brand’s strategy is by measuring social media traction and social proof with well-designed social media KPIs.
The rationale behind social media marketing KPIs is driven by the exponential increase in the use of social media platforms as a primary communication tool by consumers. Simply stated, if your brand is not visible on social media, your target audience will shrink, your brand will lose market traction, and by inference, sales numbers will drop. And unfortunately, it is challenging to regain lost market traction. Consequently, it is essential to design and implement a social media marketing strategy whose primary aim is to grow your brand’s target audience.
Finally, every profitable business, irrespective of company size and niche, must implement a successful social media marketing campaign to drive sales, income, and growth.