KPIs To Use For Social Media Marketing Campaigns
Indluyengwe Digital
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How can you determine the success of your social media marketing campaigns? To ensure that you aren't wasting your time and resources on a social media content plan that isn't working, you need to keep track of the key social media KPIs ( Key Performance Indicators ).
These indicators go beyond vanity metrics such as follower count, likes or fans. You need to track the key metrics that help you reach your business goals. The goals can be anything from increasing the traffic to your website, generating more leads and increasing brand exposure.
In today's article, we share the social media KPIs you should be tracking in 2022 would be divided into three main categories:
Reach is the total number of people that see your social media posts. You can look at reach as the total number if unique individuals that come across your social media content. Defining your reach on social media can be difficult since most social media analytics would show you the potential number of people that would see your post.
You cannot accurately determine your social media reach just by the amount of followers or fans you have. Having 500 followers does not mean that 500 of them would see your post, some might not be online when you make a post.
Post Reach
Post reach is defined as the total number of people that have seen your post since it went live. Factors such as timing significantly determine your post reach. Uploading content when your followers are most active would significantly increase your post reach.
Post Reach Percentage = Post Views / Total Follower x 100
So, to calculate your post reach, divide the number of post views by the number of followers you have. So if you have 100 followers and post view is 20, your post reach is ( 20/100 ) x100 = 20% post reach.
Audience Growth Rate
It is important to track the rate of growth of your audience on social media. You should identify the number of new followers or fans you get at the end of the month. To get your growth rate percentage, divide the number of new followers by total followers and multiply the result by 100.
Growth Rate Percentage = New Followers / Total Followers x 100
2. Social Share Of Voice ( SSOV )
Social share of voice measures brand exposure based on social media conversion. It is a measure of your brand's visibility when compared with your competition. The more your social share of voice, the greater your popularity among your audience and potential customer.
To calculate your social share of voice
So the formula to track the SSOV Percentage:
SSOV Percentage = Your Mentions / Total Mentions x 100
2. Social Media KPI: Engagement
A basic definition of social media engagement would be the measurement of metrics such as likes, comments and shares. While it is important to keep track of vanity metrics like this, they won't give a good insight into the engagement level on your post. The are other ways to determine if people are interacting with your content.
Average Engagement Rate
Instead of just calculating the number of shares, comments and likes that your post generate, you can measure them in relation to your number of followers.
Average Engagement Rate Percentage = Like Plus Comments Plus Shares / Followers x 100
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So, if you had 170 likes plus 400 comments plus 250 shares on post and have 5000 followers, your average engagement rate percentage would be - ( 170 + 400 + 250 ) / 5000 x 100 = 16,4%
Amplification Rate
The best thing about social media is that you can reach people that are not following you with your content. Your amplification rate would tell you the number of your followers that are sharing your content.
Depending in the platform, this can be a retweet ( Twitter ), shares ( Facebook ) or repins ( Pinterest ).
Amplification Rate Percentage = Shares / Followers x 100
Virality Rate
Is the measurement of the number of people that shared your post.
Virality Rate Percentage = Shares / Impressions x 100
Post can be shared a lot of times but have a low virality rate, if your post was shared 5, 000 times and you have 100, 000 followers, the virality rate would be 0,5%. Compare that to another post that was shared 3, 000 times with 10, 000 followers. The virality rate would be 30%.
3. Social Media KPI: Conversions
To find out how effective your social media is in helping you reach your business goals. These are the social media KPIs you should track.
Conversion Rate
How many clicks does it take before visitors take a desired action? When visitors click on the call - to - action button on your social media posts and are directed to your landing page. do they take a specific action?
Conversion Rate Percentage = Conversions / Click x 100
Click - Through Rate ( CTR )
For this KPI, you would track the rate of people that are clicking on your call - to - action button.
CTR Percentage = CTA Clicks On a Post / Impressions x 100
Bounce Rate
This occur when people click on your CTA button and leave the page without taking any action. To calculate your bounce rate, you would have to set up Google Analytics. Then,
Social Media Conversion Rate
This is the total number of conversions that you get from social media as a percentage. This KPIs allows you to measure the effectiveness of your social media campaigns. For example, if your goal for a social media campaign is to increase the number of new subscribers to your newsletter, this is the formula you would use.
Social Media Conversion Rate = Social Post Visitors / New Subscribers x 100
Conclusion
No matter the marketing channel you are using, performing in depth analytics helps you measure the effectiveness of your campaigns. Regarding social media , you need to constantly track these social media KPIs listed above to ensure that you are meeting your business goals.
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