Social Media Analytics: The Most Important Metrics to Track
For beginners, understanding social media analytics can be a challenge.
But when you start to figure out the most important metrics to track and how to measure them one-by-one, social media analytics will help improve your overall marketing strategy. It will also help you get more engagement, followers, conversions, and sales.
Why are social media metrics important?
They are an essential part of your strategy because they will allow you to determine how your marketing plan is performing, how successful your campaigns are, and if you’re really achieving your social media objectives.
Metrics will also give you an opportunity to showcase the impact of your projects to stakeholders. On top of that, having consistent metric reports will turn major shifts for your team, including increased budget and access to resources.
The Most Important Metrics to Measure
So, what should you be tracking?
In this article, Easy Media will tell you the most basic metrics that every business should be focusing on based on their social media goals.
These metrics are generalized across different platforms, though. Their names can vary depending on the social media channel you use, but we will cover the core metrics that you’ll want to stay on top of your brand tracking, goal setting, and KPIs.
1. Impression and reach
These two social media metrics will help you learn more about your current and potential audiences, and how aware they are of your business. If the centre of your marketing goal is brand awareness and perception, impression and reach should be included on your social media analytics.
Impressions will tell you how many times your content shows up in people’s timelines.
Reach is the total number of unique viewers your content has or could have. Typically, it is the follower count plus the follower count of the people who shared your post.
If you want to get a good overall view of how your posts are performing, it’s recommended to combine both of them with other metrics. For instance, if you want to increase the awareness around a certain marketing message, you should combine impressions and engagement together.
High engagement and reach simply means you’ve created a winning message. But if you have low engagement and high impression, your content didn’t totally encourage your audience to take action.
2. Engagement metrics
Engagement metrics, including engagement rates, likes, shares, clicks, and comments simply show how many social media users are interacting with your content. They will tell you how responsive your audience is, and provide an indication of how many engaged and active followers your channels have.
Engagement rate tells the number of engagements with your content. This is divided by either reach or impressions. If the rate is high, it simply means that users who saw the content find it interesting.
Like, share, clicks, and comments are individual metrics that add up to provide an overall engagement count for your profile or posts.
They are a big part of social media metrics, and they tend to be the only data that social media marketing beginners can track.
However, they should be measured and combined with other metrics like impressions and reach to provide real value. When tracked alone, they will just become vanity metrics that won’t give you the context needed to make actionable decisions about your marketing strategy.
3. Conversions and referrals
If your goal is focused in driving more conversions, you should include conversion, referral, and click-through rates in your social media analytics. They will all show you how effective your audience engagement tactics are.
Conversions occur when a customer completes an action you’ve requested or someone buys the products or services from your site. This means that the customer came to your website through one of your social channels and converted at the same time.
Referrals show how visitors found your website. You will be able to see referrals broken down to their sources when you check your web analytics software. For social media, on the other hand, you will be tracking the social source, which can be drilled down find referral information for each platform.
Click-through rate represent the number of clicks you receive. Then, they it will be divided by how many times your post is shown on users’ timelines. For example, if you have 100 impressions and 5 clicks, your click-through rate is 5%. Your post is definitely effective if your CTR is high.
4. Voice and sentiment
Share of voice is a social media measurement that is often considered as part of competitor analysis or paid ad campaigns. It is usually used in public relations, too, indicating how much of the online market your brand is taking part in compared to your competitors.
You have two metrics to measure it – voice and sentiment. If you want to make the analysis easier and less time-consuming, you should utilize social listening tools.
Volume shows how many social media users are talking about your content, brand, or industry. It has counts of how many times your brand is tagged, mentioned in different platforms without being tagged, or when it is used as a hashtag.
Sentiment is a metric of the feelings, attitudes, and opinions that audience or customers have and express about your business. It gets into the context of your comments, shares, and mentions.
Tracking social media sentiment is beneficial for your business. You will be able correct your message if something goes wrong with it as sentiments allow you to know how the message is being received. And since you’re able to determine negative comments and solve them before they spread, you can also provide a better customer service experience to your audience.
5. Testimonials and customer satisfaction
These measurements reflect how your active and current customers think about your brand. They are customer satisfaction rate, testimonials, and net promoter score.
Customer satisfaction represents how satisfied customers are with your products or services. You need to ask a simple question to measure it – “How satisfied are you with this product or service?” Customers will then rate how happy they are on a scale of 1 to 10 or choose on options like “poor”, “good”, and “excellent”.
Testimonials are any endorsement, rating, or review for your business. They are great social proofs, signaling to potential clients that those who purchased from you are happy and satisfied. They can help build trust and boost your brand’s credibility.
Social Media Analytics for Better Results
There’s a wide range of social media metrics that you can track. And because of this, it’s quite confusing to choose the measurements that will help you achieve all of your social media marketing goals.
The metrics we’ve included above may not be the only metrics that you can track, but they’re the best ones we’ve found to work for most brands. Everything will come down to what your marketing goals are. Choose the metrics that will help you get the best out of your social media marketing efforts.