Creating a social media strategy is a difficult task. You set your goals from the start, such as increasing brand or product awareness, generating leads, or increasing sales. But once that’s done, you still have a long way to go before reaching glory. And when you finally get there, when your campaign is over, how do you know if you met your goals?
In the midst of the sea of data provided by both native and external social media analytics tools, you must decide what truly matters for your business and establish your benchmarks. It is critical to not only monitor your performance on a daily but also to conduct audits on a regular basis.
Why is it important to track your social media performance?
With ever-increasing competition, good practices and social media tips you read about on the Internet are no longer sufficient to achieve success. It is an excellent year to harness the power of strategic thinking and incorporate it into your marketing strategy.
In-depth social media audits are available to assist you in understanding consumer behavior online and using the research to improve your tactics. Conduct analysis to identify on a regular basis to determine where the results are coming from.
What metrics should you keep track of?
With so many metrics to track and analyze, it’s critical to filter and prioritize data. We’ve chosen some universal metrics that will provide you with a thorough understanding of your social performance. Tracking interaction, follower growth, reach, customer satisfaction and the customer journey will provide you with useful data to interpret and use to improve your social media strategy. When deciding on KPIs to use to measure your social performance, keep the following metrics in mind:
1. Getting back to basics: engagement rate
- Likes, comments, retweets, shares, and all the other ways social media users can interact with your content are where you should start. In the end, social media is just media if it isn’t used.
- Create content with your target audience in mind, make it interactive, and always provide excellent customer service.
- These are the fundamentals that will encourage your followers to spread the word about your brand, either personally or through the social ranking algorithms that will display their activity on the timelines of their friends.
2. What is the size of your audience – reach analysis
- Reach is a metric that is calculated in a consistent manner across all social media platforms. Facebook defines it as the number of unique users who saw content from or about your Facebook Page in their newsfeed.
- Simply put, the metric indicates the size of your content’s audience. In the case of Instagram, reach appears to be especially important. Because the platform no longer displays likes, this metric will show you how much brand awareness you’ve managed to spread with your content.
- While reviewing your Facebook performance, you should take a closer look at reach. If you run paid campaigns, track the paid reach, identify peaks and valleys, and use the knowledge gained to improve future social media campaigns.
3. Track follower growth
- A large audience is meaningless if it is not your target audience. Make certain that the people you reach out to with your content are potential customers. Or, at the very least, ardent supporters.
- Keep an eye on follower growth; as it rises, so should your engagement and overall traffic. Check your social media analytics tool to see if there were any spikes be it positive or negative during the period analyzed.
4. Examine customer satisfaction in greater depth
- It’s not easy to quantify satisfaction – in the end, it’s the same as attempting to quantify love or anger. Nonetheless, there are some indicators that can give you a sense of whether your followers’ satisfaction is increasing, static, or decreasing.
- If you’re providing excellent service to your customers, they should be pleased. Within your Inbox Activity Report, you’ll be able to see the total number of conversations tagged with any of the above, giving you a big picture of your brand’s sentiment on social media.
5. Extend your reach beyond social media platforms
- It is all about detailed analysis and attribution in performance marketing. That is why you should not rely solely on social media, but rather treat it as a component of the overall picture.
- Track the customer journey beyond Facebook and Instagram. Examine the clicks and traffic brought to your website by your social media followers.
- Examine the steps required for them to convert: if they followed you on social media, what channels do they use, and how long does it take for them to enter your website?
- Examine technical issues in greater depth to see if there is anything that is preventing people from taking another step forward or simply confuses them.
- It could be the illegible way a post is written or a difficult-to-find CTA button on your website. Improving even the smallest details can have a huge impact.
Assessing your performance is no longer a trend; it is a requirement. Analyzing your audience and their behavior will provide you with the most powerful weapon: knowledge and propel you up the success ladder. Knowing your social media performance in depth will allow you to create better content and, as a result, bring you closer to your goal.