Publishing any content online today will always generate plenty of data. And whatever kind of business you run, you will have access to unlimited information about how the content you post is both received and acted upon. And as you gather more data, you would be right to assume that at least some of it are going to be very useful and important to your business. If you’re posting on social media regularly and using social platforms to engage with your customers, here are some important metrics that you should definitely be tracking.
5 Social Media Metrics Your Company Should Be Monitoring:
Tracking your reach allows you to determine your audience’s growth rate and clearly see how your social media data connects with your business profits. Thankfully, vague reach tracking metrics on social media like Facebook’s ‘People Talking About This’ is being phased out and replaced by more specific categories that allow you to get a better idea of how far your content is going. Your Audience Growth Rate is one item that you should pay particular attention to, allowing you to evaluate your marketing efforts over time.
Tracking the average engagement rate of both your content posts and your marketing campaigns on social media is especially important to help you learn what works best. You can use UTM links in your social media marketing campaigns to better track the engagement rate and get even further insights into your campaign with a dashboard that uses Google Analytics. UTM Star is a great place to start if you would like to start adding UTM links to your social media campaigns.
Tracking conversion allows you to directly connect your social media activity and data to your business’ profits, making it easier for you to see which posts tend to attract the most customers over to your website to sign up or make a purchase. Tracking conversion data allows you to make better, data-driven decisions for the future that encourage visitors to your brand’s website, with defined goals on how you want these visitors to convert into customers.
Tracking acquisition allows you to optimize the targeting of both new and returning visitors, providing you with clear numbers when it comes to impressions from social media and your click-through rate. Tools like Google Analytics allow you to track visitors to your website that have been referred through social media and determine how many visitors are reaching your site from your social media profiles or posts.
Finally, tracking activity allows your business to determine how much you are making in customer service savings from social media, and clearly shows the impact of using social media on your business’ bottom line. It takes you beyond post likes, shares, and content types to connect your social media activity to your company’s profits and allows you to track metrics such as how much you save via providing customer service on social media compared to a traditional call center, for example.
To make the most of social media for your business, it’s important to start tracking these metrics as soon as possible.