We’re sure you’ve asked yourself more than once, “does my business really need social media?” The short answer to this question is yes.
Even if it’s only LinkedIn or Facebook, your company needs to own its social media presence and make an effort to be active. From recruitment to industry positioning, social media has become necessary in marketing. But if you’re curious about the impact social media has on your company, or if you would like to improve that presence, digging into the metrics can give you a ton of insight into what is and is not working.
Before getting started, it’s best to set clear goals for your social media strategy. For example, do you want to drive more traffic to your website or are you looking to reach new customers? Understanding your endgame will help you determine what metrics to measure. You’ll also want to set up a timeline — such as running reports weekly, monthly or quarterly — and use your benchmark data to compare and contrast stats on a regular basis.
From the tools of the trade, to amplified awareness, we’re here to give you the lowdown on using social media metrics to measure your business’ online presence.
Many social media platforms have built-in tools, also called native tools, to help you see performance analytics and data. These tools, which can be found on Facebook’s Insights tab, Twitter Analytics, and Pinterest and Instagram’s business account dashboards, provide user-friendly interfaces and real-time updates at no additional cost. While native tools can be helpful in a pinch, they also require a bit more time to manage as each platform needs to be checked individually. Reports are pulled manually and some systems only provide data for the past 30 days (which is why we recommend creating a reporting cadence above!).
Social media management tools, such as Sendible and Sprout Social, allow you to track performance from a single dashboard. If you are managing multiple platforms or have an active social media presence, investing in these tools can help streamline the process, saving valuable time and helping you see trends across the board.
Are you interested in growing your audience? Curious how quickly your audience is expanding? You’re in luck! Grab your calculator and some scratch paper, because we’ve got an equation for you. To calculate your Audience Growth Rate Percentage, take the number of new followers, divided by total number of followers and multiply by 100. Make sure to do this calculation for each platform.
How many likes, retweets and shares are your posts getting? Which posts and what types of content are getting the most activity? These metrics reflect how engaged your followers are with your posts and can help you see what content is clicking with your audience. As you get a better sense of what’s piquing their interest, you can tailor posts to give them more of what they want — and increase clicks, comments and shares. In turn, this means you have a better chance of driving their behavior to meet your goals, whether that means signing up for your newsletter, reading a thought piece or visiting your website.
Who doesn’t want to see and be seen, especially on social media? Visibility is determined by your post reach and number of impressions. These metrics refer to the number of active users who are seeing your content and the potential audience you can reach. While not all of these users may be engaging with your posts, these metrics give you insight into your audience base and brand awareness. A higher visibility rate opens the door to reach more potential customers and boost your reputation.
Whatever your social media goals are, using social media metrics helps you stay on top of your strategy. Want more pro tips for deciphering the data? Design At Work is here to help. Contact us to grow your business’ online presence.