Why You Should Use These Social Media Metrics
Using metrics to measure your social media marketing performance is crucial to your overall marketing initiative. By setting up metrics and evaluate your social media performance based on them helps you determine whether your internal team or outsourced digital marketing agency is managing your social networks properly.
To help you evaluate your social media performance properly, we've come up with four metrics you can use:
Responses, favorites, retweets per tweetThe average number of responses, favorites, retweets you receive for every tweet reflects your followers’ engagements. The more interactions you obtain, the greater the engagement. This is a useful metric to track because it showcases your social initiatives’ potency in inducing your followers to socialize with you. Moreover, it allows you to assess your tweet or content’s appeal as consumers are unlikely to favorite or retweet a tweet that they find dull. If you can continuously get more interactions, it means that your content is intriguing and your tweets are appealing to your audience.
Referral traffic from TwitterTwitter is often used by marketers and businesses to run their own in-house advertising agency. By using this micro-blogging platform, advertisers can create and deliver promotional content and blog articles effectively to their target audience. This allows businesses to reduce their advertising costs substantially and bolster their competitiveness as they can produce potent ads similar to large corporations. That said, while it’s known that Twitter can deliverable positive results, it’s still important for companies to assess their performance. Particularly, businesses should see how much traffic, or inbound leads, they’ve generated through Twitter as the whole point of advertising via Twitter is to sell. You can do so by accessing your Google Analytics account as you can see the number of visit you’ve generated from your tweets. This enables you to examine the potency of your tweets, relevancy of your ads, and quality of your fans. You then can use this information to modify your Twitter marketing efforts.
Likes, comments, and shares per Facebook postSimilar to the average number of responses, favorites, and retweets you receive per tweet, the amount of likes, comments, and shares you obtain for each Facebook post is an effective way to evaluate your social media initiatives. By analyzing your Facebook interactions, you can determine how engaged your fans are with your brand and your Facebook page. Moreover, this measurement identifies the relevancy and usefulness of your Facebook content as users are more likely to interact with statuses that reflect their needs or resolve their problems. Moreover, this assessment can help you evaluate your quality of your statuses, in terms of copywriting, as an emotionally-appealing, curiosity-provoking status update can attract tremendously more fans than a dull, unarousing status.
Week-over-week Twitter growth rateThe size of your Twitter audience can affect your content marketing and business performance significantly. If you have a large Twitter community, you can reach a large number of customers every time you promote a sale or product release or share an article. This will help you generate a larger return on your advertising efforts and reach economies of scale as you potentially can generate more inbound leads and sales every time you create and tweet promotional content. Hence, you have to continuously grow your Twitter audience and most importantly, measure your week-over-week followership growth. This measurement allows you to determine if your fan-base is increasing at a steady, healthy rate or performing poorly. For instance, by assessing your week-over-week Twitter growth rate, you can clearly see that you’ve failed to reach your goal of 3% growth rate when you actually only increased your fan-base by 1%. This clear identification of your shortfall allows you to reflect your current strategy and come up with new ways to achieve your goal.
By using the 4 social media metrics above, you can easily track your Twitter followers and Facebook fans’ engagements and growth rates. This will help you determine areas, such as the effectiveness of your headline and the relevancy of your content, that you can improve on. You in turn can use this information to bolster your content strategy and social media initiatives to reach more consumers, yield more qualified leads, and make continuous improvements. To learn more about social media marketing, read our interview with Katt Stearns, a Vancouver-based social media marketing consultant.