The attention of the modern consumer has changed. This attention shift towards social media and other forms of online indulgence has brought upon us marketers, many beautiful business opportunities.
Social Media network websites are some of the most used websites in the world. One of the most amazing things this shift has done is that it has brought people with similar interests together online.
These online users have succeeded in creating communities that can be easily targeted by businesses all over the world.
But, in the quest to create a solid social media presence, one should never cease to learn to identify the opportunities and loopholes of one’s social media marketing strategy.
To help you with this, we have brought together a few social media marketing metrics that you just can’t ignore!
So, without any further ado, let’s take a plunge!
1. Audience Growth Rate
You want your brand following to improve every single day. After all, every single action you take on your social media marketing channels is to increase those magic numbers.
Well, the audience growth rate metric helps you track the speed of your social media fan following and growth.
What one should realize is that the speed of the follower growth matters more than the number of followers gained.
The audience growth rate will help you optimize your social media handles in order to attract the right target audience.
Work out the problem of slow follower growth with this social media marketing metric to gain an edge against your competitors.
2. Audience Reach
Advertisers can easily realize the size of their potential audience by taking the reach factor of all their social media accounts, profiles, groups, or pages.
This social media marketing metric will help you improve the depth at which your conveyed messages reach your target audience.
Combined with the engagement rate, this metric becomes a powerful insight tool as it can provide great information as to how many of the people who were reached by the content actually engaged with the content.
To determine the audience reach, you can divide the total number of engagements (like, share, comment, clicks, retweets, etc.) by total reach that particular post achieved.
3. Timing Metrics
It is important to track the number of times a day or the number of days you post on social media. Not just that, it is equally important to figure out the time when your audience engages with your content the most.
This social media marketing metric is a great reflection of your consistency on social media. Once you have analyzed this metric clearly, you can easily come up with a posting schedule which has the best times to post on social media.
To improve the posting schedule, you may track the following to successfully utilize timing metrics:
Number of Social Media Posts Per Week
Most Common Publishing Time
Most Common Publishing Day
Time when Audience is Most Engaged
Day when Audience is Most Engaged
4. Average Engagement Rate
Once you have your posting schedule defined, it becomes imperative for businesses to track the amount of engagement your posts achieve.
This social media marketing metric is called Average Engagement Rate and it measures the amount of engagement your posts receive over a period of time.
Average Engagement Rate is also useful in determining how much interest the present social media audience has in the posts you publish.
This metric is entirely different from Applause Rate as the former determines the number of people who are talking about your business online.
It’s a useful social media marketing metric which allows you to realize the taste of your current audience and helps you to create more optimized content.
5. Conversions
Turning Social Media into a money-making machine is always a dream for many businesses. Well, when used smartly, social media can effectively increase the brand’s online presence and boost its engagement and conversion rate.
When tracking conversions, you will come across insights that will help you draw the attention of your social media followers towards your business website.
Measuring the success of your social media marketing campaigns will involve optimizing your social media sales funnel, which requires extensive conversion related insights.
This can definitely improve the quality of the posts you publish on social media over time as it will involve experimenting with different content initially until a perfect conversion rate is met.
6. Competitor’s Analysis Metrics
You don’t just want to compete with your competitors. You want to beat them and come on top as an authority in your field of expertise.
Therefore, you should always have the information about the latest campaigns and post published by your competitors.
Metrics like Competitor Strengths, Weaknesses, New Opportunities, % of Engagement Difference, etc. should be mentioned and tracked on a regular basis.
When doing competitors’ analysis, make sure you are not creating a social media marketing strategy that resembles that of them. You must do your best to generate better ideas and strategies to beat them at their own game.
7. Social Traffic Metrics
Some of the digital marketing campaigns focus entirely on social media marketing which eventually helps them achieve great social media traffic figures.
When taking Social Media as a source, it becomes important to make sure the content/message conveyed on the platform resembles that of on the website where the user is redirected to.
The very point of creating a huge social media user base is to make them take a desired action. These actions will focus mainly on creating huge impacts on your website conversions.
Therefore, it is important for you to know what happens when the user leaves social media and reaches your online business website.
Factors like Total Sessions, Total Page Views, Bounce Rate, Pages Per Session, Average Session Duration, Mobile Vs. Desktop Traffic, and more should be regularly analysed and concluded results should be implemented straight away.
Over to You
Social Media Audit in 2019 has changed and doesn’t just focus on glancing at the engagement and reach metrics.
To perform well on social media, you will require keeping tab on all the social media marketing efforts, data analysis and experiments with new tactics.
The above-discussed metrics will help you with almost all the latest social media marketing trends we have been a part of in 2019. We hope this piece of content brought great value to you, in a way that will help your digital marketing campaigns grow and achieve your business or personal goals.
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