Written by Khushbu Solanki Sharma
Social media has emerged as a powerful way for brands to build their presence, interact with customers, and build seamless recall across different platforms. Social media metrics provide strategic insight to measure the effectiveness of social media marketing efforts and provide space for real-time course correction. Hence, it is essential to map and document these social media metrics.
There are a myriad of options available that measure the results of social media efforts. It is critical to determine the right mix of metrics based on your brand’s requirements, goals, and campaign goals.
Here are some metrics decoded to help you achieve tangible results in digital advertising.
Awareness – impressions and access
If the goal of your campaign is to build brand awareness, you should track impressions and reach. Impressions refer to the number of times your ad appeared in someone’s timeline. Reach refers to the potential unique viewers of your post which includes the number of your followers as well as the number of followers of the accounts who shared your post.
If your goals are to build awareness and educate your target audience, it is essential to include engagement and reach as metrics. Posts with high impressions and low engagement indicate that the content was interesting enough to enable the target audience to take the desired action. High reach and high engagement indicate that the content struck a chord with the audience. Reach can be calculated by the number of retweets (in the case of
Twitter) in addition to the followers of those accounts.
Engagement is a broad category that includes various actions of the target audience, including likes, shares, retweets, and clicks. Engagement rate measures the extent to which your audience takes action on your post through either likes, comments, or engagement, or all or a combination of them. Engagement rate is the sum total of all requested actions by viewers. High engagement rates indicate exciting content that leads to more interactions with the target
Your brand’s audience.
A useful metric here is engagement rate, computed by dividing the number of engagement metrics by impressions or reach. Similarly, the account reports that brand engagement signs in social media conversations (excluding those as part of a response) indicate good brand awareness. It is necessary to look at more than one metric to depict your marketing efforts. For example, if a post with a beautiful picture gets likes but no comments
Doesn’t mean it’s under the mark. What it means is there is no call to action.
Share Audio – Volume and Feelings
These metrics are often used in public relations, competitive analysis, and paid advertising campaigns. Voice sharing indicates the strength of your brand presence in social media. It can be set through social listening tools that help marketers assess the volume of discussion for specific keywords. When combined with the Trends report, it gives insight into the keywords associated with your brand and what could be improved further.
ROI – Referral & Conversions
Social referral traffic and conversions are intrinsically linked to marketing goals and affect the bottom line for businesses. Referrals track the source of your traffic to a website. “Social” refers to traffic from social media platforms, further broken down by network.
Conversions refer to customers who have brought your product online. Social transfers refer to purchases made via social media platforms.
Another metric is click-through rate (CTR) in ads and posts. CTR can be calculated by dividing the number of clicks by the number of times the ad was shown. A high click-through rate indicates the effectiveness of the advertisement. Click-through rate (CTR) is used in links on landing pages, email links and call-to-action buttons, social media ads, and pay-per-click ads, among others.
These are some examples of key metrics that can affect your brand’s performance. Besides knowing these metrics, it is essential to know your industry standards, set your ads against them and adjust accordingly to get the best results. Leveraging the power of big data, these metrics measure performance accurately and in real time. This functionality gave digital advertising an advantage over outdoor advertising and helped make the first appearance as a cost-effective medium. The emergence of emerging technologies, the evolution of data science models and innovation by marketers represents an exciting time for social media analytics.
The author is the founder of Zero Gravity Communications
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