3 Essential Social Media Metrics Marketers Must Track
Measuring performance based on solid numbers is not new in business. Companies have used metrics for centuries to determine their profitability and growth rate. This same approach can also be found in social media where more marketers are utilizing metrics to determine if they’re garnering desirable returns from their efforts and avoid social media time wasters. Here are 3 essential social media metrics you must track:
Social networks’ audience growth ratesThere are only 3 ways to increase your revenue. You either have to increase the frequency of your customers’ purchases, expand your customer-base, or increase your average value per purchase. If you use social media to generate sales leads and drive revenue, the size of your audience is integral to your success. By growing your fan-base, you can advertise your products or services to a vast number of consumers every time you publish a status update or tweet. This increases your chance of converting more sales since the larger your qualified audience is, the more likely your chances of turning them into buyers. Therefore, you have to keep track of your social audiences’ growth rates. You have to set quantifiable goals such as: increase LinkedIn page members by 5% month-over-month, or increase Twitter followership by 2% week-over-week. This enables you to see the augment of your social audience clearly and support your sales initiatives.
Number of click-throughThe amount of traffic you generate through your social channels gives you a myriad of insights. It enables you to see if you’re writing intriguing headlines, posting content at optimal times, and most importantly, targeting the right audience. If you have a low click-through rate, it may suggest that you’re engaging with the wrong audience. You may be interacting with males between the ages of 20 and 25 when you should be engaging with females between the ages of 26 and 32. By tracking your click-through rate, you can see if you’ve segmented and targeted your consumer market properly.
Pageviews per visitIn addition to examining your click-through rate, you also have to look at your pageviews per visit to see if you’re creating compelling content and powerful call-to-actions (CTRs). If only a small number of readers visit other webpages besides the landing page, it could mean they’re not interested in your content or that you didn’t include powerful call-to-actions. To make proper adjustments, you have to do split-testing. You have to develop different content topics and see which ones yield the most engagement. You also have to test different call-to-actions in various locations to see which CTR induced the most on-page clicks. This will help you improve your engagement and yield the largest return from your content marketing.
Just as in every other area of business, metrics are vital to measuring a company’s performance. By using metrics in social media, you can see if you’re making a rich return from your content and social media marketing. Moreover, you’ll be able to identify areas of improvements. If you want help with your social media marketing, you can download our P.A.C.E. eBook to learn about the latest best digital marketing practices or you can contact us to learn about our digital marketing services including social media and digital marketing audits.