With so many marketing metrics around it is hard to determine which ones actually tell you the relevant and helpful information.
Whilst some metrics are easy to track they don’t actually tell you much information about how your company is tracking.
To actually understand the effect your social media is having it is important to look deeper into the results and data.
Whilst it is important to keep track of likes, shares, post reach and engagement there are a lot of other tools that can tell you how your brand is tracking. As unfortunately just because someone likes your post doesn’t actually mean they engage with your brand directly or continue onto your website to buy anything.
The five metrics I believe are most important in telling you how your company’s social media efforts are tracking are detailed below:1. Share of Voice: Use Share of Voice to see how you stack up with your competitors.
to do this track the mentions of your brand and also more importantly your competitors and compare these over time. When tracked over time, share of voice can illustrate how your social campaigns are tracking and how you are going in relation to competitors.
2. CTR (Click through rate): This tells you how many people are clicking on your posts or advertising and actually visiting your website.
CTR can be combined well with A/B testing to determine which is the best way to post for your brand.
3. Conversions: Conversions are the way to measure action. This can simply be measured through the number of conversations or comments generated through your social media post.
4. Amplification Rate: helps to measure intangible aspects such as brand awareness. It describes how often and how far your content gets shared – its reach. This can in turn help you to determine which content generates the most interaction and awareness.
5. Engagement: This is one of the easiest things to track. tracking how many people engage with your brand – clicks, comments, shares – can demonstrate how interested people are in your brand and how the interest tracks over time.
It’s been great to share a bit about the social media metrics and blog stats I believe to be most valuable. I’d love to hear which ones you use in your marketing strategies!
Share your favourite metrics in the comments, or feel free to ask any questions