Top 5 Social Media Metrics To Track As A Business Marketer
Every marketing strategy demands accurate information to gain desired success. But many times, marketers miss out on gazing at results after running campaigns online.
That’s where social media metrics play a vital role in analyzing what’s working for your brand and what’s not. As a business marketer, you need to keep things genuine and transparent with your audience. It is necessary to showcase to your followers that they must believe in the business you run and the products and services you sell.
Here, we will provide you with tips on how to track social media metrics to help shape your business marketing. But before heading towards the tips, it is crucial to know why it is unavoidable to keep a note of ad metrics.
So let’s get started!!
In a hurry? Listen to the blog instead!
Why Track Social Media Metrics?
Social media metrics are data that are important for measuring the success of your online media channels, your content, your strategy and how it’s affecting your business.
Measuring social metrics has a lot of implications that go beyond just social. Online media is the business intelligence that drives brand health, competitiveness and ideal performance metrics.
In fact, a recent research report found that half of the business marketers observed that these data and insights directly brief their business’s current strategy. This can help you illustrate the importance of marketing and its return on investments (ROI) which is one of the most difficult challenges for social teams.
Now, you must be questioning how to measure reach engagement metrics or following for your business.
So, don’t worry we have picked these important five types of social media metrics for you. Just going through these metrics of yours can help you level up your creative business marketing game.
5 Types Of Social Media Metrics For You
Let’s dig deeper into what each of these metrics categories can do for your marketing strategy and related metrics in each category to consider prioritizing.
- Followers growth
- Analysing social media ads campaign
- Customer satisfaction score
- Awareness metrics (Impressions, awareness and reach)
- Paid social metrics ( CTR on social ads)
Follower growth isn’t just about how many followers you have. It’s also about how well your channel is doing, how much awareness you are getting and if you are lagging. If your growth in followers decreases, it is time to revise your approach, and this will vary across channels.
Follower growth rate
The follower growth rate indicates the percentage of your audience that grows or is slow over a specific period.
Here’s how to calculate social media metrics of follower’s growth:
Followers you achieved in a precise time
——————————————————————————— x 100
The initial digit of followers you held before that growth
For example, let’s state you had 40,000 followers at the start of June. By the end, you have 40,400 followers. The calculation of your growth rate is as follows: (200 / 40,000) x 100 = 1% growth rate.
Analyzing Social Media Ads Campaigns
Low returns on social ads and campaigns can be a costly and time-consuming drive for your marketing team. This is where the analysing and associating social media metrics come into view.
Conversion rate calculates how nicely your social ad or campaign influences people to take an anticipated action.
Think: making a purchase, opting into your email newsletter, signing up for an event or a webinar, downloading a guide or visiting a webpage.
You can calculate the conversion rate:
The total number of social media conversions
———————————————————————————————– x 100
preferred metrics, like clicks, website visits or impressions
If your conversion rate is down, then with PowerAdSpy, you can compare your ad campaign messaging, creative and CTA with your competitors and come up with a better plan.
Customer satisfaction score
Engagements that you can directly measure, such as likes, comments, and reactions, are general. These individual social media engagement metrics may appear to be vanity social media metrics in and of themselves, but they do add up.
If examined at a high level, they reveal a good deal about the success of your post and audience. You can even level up your ad game by observing competitors’ ads and their strategies.
By knowing your competitors you can make a new and different ad which can attract a new audience. But, manually analyzing your competitor can be a tough job.
Don’t worry!! You can check the top-performing ads of your competitors in just a few clicks with the help of ad analytics software like – PowerAdSpy. Let’s know more about it!
PowerAdSpy – Best Ad Intelligence Tool
PowerAdSpy is an advertising intelligence tool that can help you research competitors’ advertisements in a more enhanced way. This is the most effective tool to search for competitors’ ads across all social media platforms like Facebook, Instagram, YouTube, Google, Pinterest and many more in a single dashboard.
With more than 100+ million ads, it’s the largest ad inventory in the world. So, you can check what type of ads create the most engagement and appealing content. You can also bookmark these ads and interact with them later to create more creative ads for your brand.
With PowerAdSpy you can check many social media engagement metrics of Instagram, Facebook, YouTube, or other platforms, ads that you can analyze fo your competitor:
- Ad Impressions
- Ad Popularity
- Ad Demographics
- Social Engagement
This is not all, with this intelligence tool you can even look into competitor’s ad target preferences from age, gender and even relationships.
Customer Satisfaction And Feedback
Social media is a goldmine of unfiltered opinions and conversations about your brand, competitors and products. Conversations on social media reveal valuable information about what is and isn’t working with your content, customer care, brand, products and more.
Moreover, it is an invaluable source of uninhibited opinions and discussions about one’s brand, competitors and product. It’s also a great platform to help you figure out what works for you in terms of content, customer support, your company, product, and more.
Here are a few visionary social media metrics to observe for consumer delight:
Responding on social media is essential for building community and serving customers. In fact, according to the sources, over 70% of the customers expect a reply within 24 hours. Your reply time is one of the most critical service metrics to track.
Entire reply volume
Total Response Volume is the number of messages your team provides to customers. If your customers don’t get a reply to their messages on social media, then observing can help you improve the customer care experience by identifying how many messages you’re missing out.
This is also a customer engagement metric, as the content of the comment section is a great place to grab opportunities to improve the customer experience.
Awareness Metrics (Impressions, awareness and reach of content)
Awareness metric is the key to connecting your social media strategy to the brand awareness it’s generating. Here’s the list of key awareness metrics to focus on.
The impression is how many times people access your campaign content on any digital platform. If your images go up on any social media, that means more people are paying attention to your brand.
Although it doesn’t necessarily represent your target market’s opinion of your content, they do show how many people have seen it.
Reach refers to the number of potential unique viewers a post has. In other words, the number of people who have seen the post themselves. Social media like Instagram, Facebook and Google ads reach and impression can seem like different things at first.
Using information data, such as impressions, can be used to identify trends and determine the market coverage of the brand. It also helps you decide if you need to scale up or down your campaign.
Search engines rely on keywords to help people find what they want. Your brand search data is the number of people who searched for a particular keyword related to your brand or product over a certain period.
This number shows how interested people are in your brand and the industry. With the help of online tools, you can figure out what people are searching for and how your brand compares to key industry keywords.
With this info, you can create effective marketing campaigns that help boost brand recognition and rememberability.
Paid Social Metric[CTR on social posts and ads]
When it comes to paying for social media, it’s important to make sure you are getting the most out of your money.
We’ve already talked about some of the most important social media metrics to keep an eye on, like conversion and click-through rates, but here are some to help you save money and optimize your ads.
Cost per click
Basically, CPC is a cost associated with each click received on a content piece. Cost per impression (CPI) is the amount paid per thousand impressions.
Here is one way to calculate CPC:
Total Number Of Click
Here is how you calculate your average CPS:
Total Cost Of Clicks
Total Number Of The Clicks
Having an understanding of your average cost will enable you to identify which ads to optimise for higher engagement.
Return on ad spend
ROAS is an estimation of how much money your ad is generating relative to how much you’re spending on a particular ad campaign.
ROAS is an estimation of how much money your ad is generating relative to how much you’re spending on a particular ad campaign. It’s a great way to find out if you need to spend more money or if your ads aren’t making enough money.
You can calculate ROS Like this:
Ad Cost For Same Ads or Campaign
(You can plot the result as a ratio.)
With so many metrics out there, it can be easy to get caught up in the noise. But picking the right ones to track can make all the difference. It’s not just for your team but for your whole business.
Now, All that matters are the objectives of your business. We have mentioned some of the top online media like Instagram, YouTube and Facebook metrics that might come in handy while strategizing your business marketing.
But a few might work for your niche. And we hope that should be enough to prove your return on investment.
The whole point of this blog is to help you recognise the social media metrics that work well for your brand. It must increase your brand recognition and invite more users to follow your content.