05 Nov The Scoop on the Metrics that Matter
If you’re not familiar with digital marketing, it’s easy to write off terms like “ROIs,” “KPIs,” “audience engagement,” and “conversions” as mere buzzwords.
But whether you’re a social media guru or a beginner, you can’t avoid marketing metrics. In fact, analyzing these metrics is crucial to understanding your KPIs, or Key Performance Indicators. KPIs are measurements that will help your business or organization identify whether or not you’re reaching your objectives. Depending on your goal, that may mean more sales or brand awareness.
Social Spice Media gives you a quick look at what social media metrics you should pay attention to:
It’s important to be able to track the success of your company’s campaign beyond “vanity metrics.” Examples of vanity metrics are number of followers/registered users, page views, and “likes.” After all, some of your followers might be spam accounts or other businesses trying to get you to follow them back. And even if you do get significant traffic to your page, users may only stay on that one page before deciding to turn their attention elsewhere. If they leave, it’s called a “bounce rate.”
In order to get a better look at how close you are to meeting your marketing goals, you’ll need to evaluate your 1. User engagement, 2. Reach, and 3. Conversions.
Perhaps most importantly, you want to see how users are interacting with your website and social media pages. You can measure engagement by seeing how many likes and shares your posts get, how much your following has grown over a certain period of time, and how often – and by whom – your brand was mentioned. Increasing your engagement means sharing compelling content that will resonate with your audience. For ideas, check out our Social Spice Media blog post that discusses ways you can leverage each social media channel to your advantage.
Reach is determined by how many eyes are viewing your content and how far your posts are going. There are three categories of reach: Organic Reach indicates the number of people who saw your post in their newsfeeds, while Viral Reach shows how many people were directed to your contact via a “share” on social media. The amount of people who saw your content through a promoted post or advertisement is known as Paid Reach.
Conversion refers to the amount of your website or page’s visitors who decide to follow your call-to-action, be it a purchase, download, or registration. The higher your conversion rate, the more effective your content and overall marketing campaign is.
Upon seeing your conversions, you’ll know what strategies were most effective in driving traffic and activity on your site. Take note of which social media platforms result in the highest conversion rates and spend more time utilizing those channels.
If you need help boosting your social media strategy, get in touch with one of our team members at Social Spice Media. We stay up-to-date on social media trends and how to keep your business at the top of the competition.
Do you know someone who could benefit from our services? Refer them to us today! Our team is eager to connect with businesses in any industry! We serve the local needs of Ventura County and Santa Barbara as well as anywhere in the United States.