In today’s world, social media offers businesses a quick and effective way to reach current and prospective customers.
But simply hitting “post” (especially paid posts) will not do you any good. For the best results, your marketing team must dive into the data to see exactly what’s working, and what’s not.
Here are 11 metrics your social media marketing team should be watching:
- CPM: This is your cost per thousand impressions. Generally associated with paid ads, this metric shows you your initial, upfront cost on your media buy.
- CTR: Your click-through-rate shows you how many people clicked on any post you’ve made, not exclusive to paid ads. CTR gives you a handle on the percentage of people who are interested enough to “find out more.”
- CPC: The cost-per-click metric is the amount you’re paying for someone to click on one of your social ads. If you spend $500 and you get one click, your CPC is $500.
- Conversion Rate: This shows you what percentage of your “post” viewers turn into a customer; depending on how you define it. Every post should have conversion tracking to help you refine your messaging.
- Impressions: This is the number of times people saw your post, or content. Impressions include multiple views from one person and can help you determine how “sticky” your content is.
- Social Reach: Like Impressions, Social Reach measures the number of people who saw your post. However, this metric measures unique views, and does not include people who reengaged with your content.
- Amplification Rate: This ratio measures the number of overall followers you have compared to the number of shares of your content. It’s a great metric to see how many of your followers are boosting your content.
- Audience Growth Rate: Just as it sounds, this is the rate at which your audience is growing (new followers) over a defined amount of time. A strong and continual growth rate means your content is standing out.
- Video Views: Another self-explanatory metric, video views show you how many people have at least started watching your video content. It doesn’t, however, show you how many people finished it.
- Video completion rate: If you have 100 views on your video, but only 1 person completed it, you have a 1% video completion rate. This metric can indicate how engaging your videos are, the higher the rate the better.
- Engagement Rate: Your engagement rate measures the percentage of your audience that is somehow reacting to your posts. It could be comments, likes, follows, shares or other reactions. A high engagement rate means your content is generating buzz.
All of these social media metrics (and many others) have hidden “granular” data within them. So, if you’re looking for advice on how to better analyze your granular data, so you can boost your conversions, sales and ROI…
Partner with Conversion Media Group!