Topics: Marketing Strategy
Previously, we discussed deciphering the analytics behind your email marketing and pay-per-click marketing campaigns. As we continue our series on the Metrics That Matter, we’ll delve into social media marketing.
Seventy-nine percent of the U.S. population (244 million people) has a social media account. If your business isn’t advertising on these platforms, it should be. Getting started is as simple as defining your audience, setting a budget, and adding creative elements. Once the campaign is up and running, tracking progress is possible via platform provided metrics, often referred to as “Insights.” Rather than trying to soak in all the available information, focusing on the following five metrics will give you great data that won’t overwhelm.
Interaction is the foundation of socialization. Without it, you may as well be talking to nobody. When a viewer interacts with your post (a share, like, click, or comment), it is measured as an engagement. While not directly linked to return on investment (ROI), engagement can help verify whether or not your content resonates with audiences.
Getting your message to the masses is the selling point of social media marketing. Understanding just how many people view your posts boils down to looking at the reach. Unlike impressions, which tallies the total amount of times your ad was shown, reach counts unique views (meaning the same person can see your post more than once yet still only contribute one point to the overall score.)
Acquiring a following should be a top priority of any social media marketer. Not only does the number of followers help provide tangible evidence of your brand’s fanbase, it can also cut the cost of advertising by allowing you to market to a large group of interested consumers organically. Growth data displays how many followers you have, how many you’ve gained over a period of time, and how many you’ve lost. Trending upwards means that your efforts are working, while a downward trajectory could be cause for concern.
Social referrals are the number of visitors that clicked through to your website from a social platform. Unlike the other metrics on this list, you won’t find referral data on platform insights; rather, you’ll find this information using Google Analytics. Knowing what’s driving traffic to your website can help you identify which platforms to target based on the amount of referrals, curate new content similar to well-performing posts, and track page visits to see what products or services pique your audience’s interest.
Getting a consumer to act is the purpose of advertising. When someone completes an action, such as making a purchase or signing up for your newsletter, they count as a conversion. Depending on your product or service, users can convert on the social platform. Those that require users to click through to an external page in order to complete an action can track conversions via a pixel code, which is provided by the social platform and added to the backend of your website.
These five metrics will help you quickly establish the success of your social media campaign. If you’d like to maximize the effectiveness of your social media marketing, our team of digital experts can help. Contact Axis41, A Merkle Company, today to learn more.