Social media has been buzzing around everyone’s radar for the past fifteen years…and yet, people still aren’t utilizing it to its fullest potential. We’ve all heard how successful digital platforms can be in creating brand awareness and driving traffic to a company’s website. That’s why about 97% of businesses are using social media to market themselves. But what percent of you are using social media effectively and recording measurable results?
Let’s Find Out!
Measuring your efforts and placing key performance indicators (KPIs) to your social media campaigns are easy ways to shape your content with quantitative data. It is important to remember to set goals for each of your campaigns so the appropriate performance metrics can be assigned properly. For example, if you are an e-commerce website trying to generate sales through your social media campaign, you will probably want to focus more on a metric like conversion rate. we realize that social channels may be harder to measure than traditional traffic sources, but don’t worry…that shouldn’t stop you.
5 Social Media KPIs Business Owners Need to Know
How many unique visitors did your social content drive to your website? And more importantly, where did they come from?
- Use Google Analytics to track where your traffic is coming from under the sessions tab.
- You will want to focus on URL shares, clicks, and conversion rates
- For improved tracking, use campaign tagging for all links or a link shortening service, like Bit.ly to track engagement.
Network of Followers
Who are you posting to daily? Tracking which platforms bring in the largest audience is a great performance metric to have in your back pocket.
- Twitter built in an audience view to their analytics for business owners to utilize. Now you can track the number of new followers gained over a certain span of time.
- There are also resources like Followerwonk that can gather and analyze information on Twitter users.
Your content is out there. Now what are people doing with it?
- Facebook offers an insights page to business owners where you can track likes, shares, page views, actions on pages, etc.
- Understanding the type of content that engages your followers will allow you to generate more traffic and ideally more qualified leads.
- Don’t forget to tie metrics back to your established business goals!
How many users saw your content?
- This is where your paid and organic posts will come in handy. It is important to know how many people you are reaching organically and understanding the potential reach if you put a little money behind your content.
- As a business owner, learn how to make custom reports for a more thorough analysis of your company’s reach.
Lead Generation or Sales
Generating qualified leads, or increasing sales for e-commerce sites, will ultimately grow your business and enable it to reach new heights, and it could be one social media click away!
- Try something new, like creating a landing page for tracking purposes.
- Monitor different channels and see which are the best for converting leads.
- Don’t forget about assisted conversions! Some channels play a part in the conversion process but are not the final step before purchase. Just because a channel is not contributing directly to conversions, doesn’t mean there isn’t value.
Before investing time, energy, and money in social media for your business, know these KPIs and their value. You should be able to create goals for your individual campaigns and associate the proper performance metric with the goal. Dig deep to find the insights that will help your business use social media to get the best returns. For more information on social media and the effectiveness, it can provide for your business, check out the social media section on our blog!
Read On: Vanity Metrics in Digital Marketing