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
hanadoesmarketing 
September 23, 2016 at 10:48 am
I agree that you can’t just rely on one form of metrics to measure the performance of brands, businesses and individuals social media. Tracking followers though an important source of information, it is not specific enough nor is it enough to measure the total success of ones social media.
How ever metrics such as conversions and engagement that you have mentioned in your blog are not just found by themselves, they are often compiled together into one metric analysis tool.
For example Followers + measures aspects such as new followers, lost followers, posts with the most likes and comments, the percent of engagement, audience, missed connection and more.
Link to Followers +: https://itunes.apple.com/au/app/followers-+-for-instagram/id566223681?mt=8
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October 10, 2016 at 10:58 am
Thanks for your comment, I think its great to look at everything, as you said you get a lot of the information all at once. But I believe sometimes this information can be overwhelming and you need to know what it the most important tools to look at.
What do you think are the most important tools to look at?
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October 11, 2016 at 4:28 am
That is very true as sometimes it’s best to focus on specific elements in order to improve a company’s digital marketing strategies.
I feel like whilst measuring engagement is crucial, it is quite basic and doesn’t really measure how the company is doing in relation to competitors.
As you mentioned in your blog, I believe that Share of Voice would be the most important, as not only does this measure the overall success of failure of digital marketing strategies via comparison to competitors but it also provides an insight on customers word of mouth triggered by a company’s digital marketing strategies.Although word of mouth is simple,it is one of the most persuasive tools a company can hook onto to really get their brand out there.
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