The world of social media is so vast, so diverse. Imagine the number of platforms, innumerable hashtags in use and varied campaigns being run – there is so much happening socially, digitally. Naturally, if you are in this business, you invariably come a part of it or get affected by it.
As a marketer, working on social media can be quite a tedious process. And let’s not forget the time and energy invested to study the analytics bit on social media. But for the betterment of a brand and the growth of a business, an effective social media presence is paramount.
While regular posting on social media channels (not all, of course!) is fine and in fact – necessary, analyzing the social performance is equally important. Just like how you you narrow down the most important social media platforms for your business, the same rule applies to selecting the social media metrics – which are so many, to be honest!
To make things easier for you, here are 5 top social media metrics that you must follow. And no – they are not the ones you would normally expect:
1. Click through rate
This metric tells you how interesting your social media copy is to grab the attention of its customers. Sharing posting or commenting on them are solid social metrics but when your copy nudges a reader to click on it, it is important to find out about how and why he or she is engaging.
By tracking the number of people who click and what kinds of content they would like to see, social media marketers can get an insight to the audience’s tastes and preferences. This will allow them to create campaigns or similar copies to keep them engaged on that social media platform.
2. Bounce rate
Although self-explanatory, we will start our explanation from the basics. This metric is quite popular to check how many people visit the website but leave after viewing one page. However in social media, this indicator works a tad differently.
Here the bounce rate is calculated by comparing the website visitors who come from any of your social media networks and compare it with the rate of website visitors whose contact of origin is Google or any other search engine.
If the bounce rate is lower, it means your social media copies are bang-on and are delivering the right message or prompting the right action in the visitors.
3. Social mentions
As you know mentions indicate how much people are actually talking about your business on social media. But this metric becomes even more valuable when it is compared with the total number of industry mentions which also include your competitors.
Pick up one or all social media channels of your brand and count the number of mentions each channel garnered. Then divide that number with the total number of industry mentions to get the rate.
4. Conversion rate
This one’s easy and almost all business calculates this way in some or the other way. It is the ratio of comments per post to the number of overall followers or page/post likes. The more the conversion rate is, the better it is.
Conversion rate shows just how impressive your content is and how a user converse with your brand on a particular platform. It gives credibility to your social media copies – which is a big motivating factor for all marketers.
It is believed that brands become more humanized on social media provided the staff makes a constant effort to keep the “social conversion” interactive. Social media gives the brands a chance to act like people because in the end people like doing business with other people, not companies.
Got what we mean?
5. Amplification rate
This metric measures the ratio of shares per post to the number of shares per post to the number of overall followers or page likes. By following a brand, a visitor shows the willingness to associate with your brand.
Depending upon the platform, you can check the amplification rate for each of the channels on the basis of the following:
- Twitter retweets
- Facebook shares
- Google+ shares
- LinkedIn shares
- Pinterest repins
- Instagram regrams
It is a pretty niche metric, we must add!
Over to you
There is no limit to the number of metrics we can discuss. The point is to dig deeper and analyze only those metrics which you feel will add value to your business. The thing is too many social media marketers rely on easy answers.
They only look at the increase in follower count or RTs/reposts/shares. And those are very generic metrics. So next time you hold a campaign, use these metrics. The results will be phenomenon!
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