Social Media Metrics: How To Track Your Goals

Social media metrics – the number of users on social media platforms is growing at a monumental rate, with 2018 figures standing at 3.196 billion users worldwide, up 13 percent from 2017. With a pool of prospects that large, if you’re business is not currently utilizing social media, you probably should be. There are many benefits of using social media for your business, from increasing brand awareness, facilitating communication to improving growth. If you’re not convinced that a social media presence for your company is deserved, these guys have put together a pretty comprehensive list of the benefits, and why you need it.

Before you start tracking your metrics, claim your FREE 14 day trial of Cascade

Cascade is the complete strategy execution platform and will help you to track all your metrics and much more. Easy to use, incredibly powerful and trusted by some of the largest (and smallest) brands in the world. Pricing starts at $29 per month

Chances are though, your company already has an established presence on at least one social media platform, if not multiple. This is where it can get tricky, managing multiple social media channels can take a lot of time, money, and resources, so you’ll want to make sure you’re measuring the ROI for each, to ensure your efforts are worthwhile. Measuring ROI will vary for every business, depending on your goals for each platform. You might be interested in increasing the number of people who sign up to your mailing list, click through to your website, the number of impressions/reach from your campaigns or the number of followers/likes on a platform. Once you’ve established your social media goals, measuring these against the time, money and resources you’re expending will help you calculate your ROI and prove whether or not your efforts are worthwhile.

Common Social Media Goals and the Metrics to track them

If you’re struggling to clearly define your social media goals and the metrics to measure them, below we go through some common social media goals, the metrics you can use to track them, and the free and paid tools you can use to track and gather this data.

Awareness

Getting your brand out there and increasing brand recognition and awareness is a pretty common goal for companies using social media. In today’s hyper-competitive markets, if you’re not making noise, you’re probably not going to get a lot of new business. Prospects need to know your brand exists and the benefits of choosing your brand over competitors for them to consider you.

Establishing metrics for your awareness goal is the next step, as the saying goes ‘You can’t manage what you can’t measure’. Some of the metrics that can be used to measure your social media awareness goal include:

  • Impressions from social media campaigns.
  • Reach from social media campaigns.
  • Likes/followers on your social media platforms.

Impressions and reach let you know how far your messages are spreading and the exposure your campaign is getting, while the number of followers/likes on your social media platform helps you establish the number of people who know your brand exists, and like what you’re doing.

Tracking the number of followers/likes on social media always stirs a particular argument- some will say it’s just a vanity metric and otherwise useless, while others will say follower numbers are crucial for establishing brand authority and improving marketing success. We, however, agree with the latter and believe it’s an important metric to track, and should be used with a combination of other metrics to determine the overall success of your social media activities.

Most social media platforms provide their own analytics which will show impression and reach data, however, there are also many apps on the market which will track and display your data for multiple social media platforms in one place, apps such as Keyhole or Hootsuite.

For a free tool to track your social media followers/likes across multiple platforms, access our Social Tracker Reporting File!

Download your FREE Social Tracker Reporting File

This tool will help you to track your social media followers/likes. Click the download button below.

DOWNLOAD YOUR SOCIAL TRACKER FILE!

Social Media Metrics

Instead of logging in to each of your social media platforms to check data on followers/likes, simply check the social tracker report to view all your social media platforms data in one place. The report will automatically update numbers, so you’ll always have the most up to date figures.

Engagement

Engagement goals focus on improving the interactions between your brand and it’s target audience. It’s been shown that brands who interact with their target audience via social media improve their target audiences perception of them, their loyalty, and word of mouth recommendations. If that’s not reason enough to focus on engagement goals for your social media, algorithms on many social platforms seem to favor and prioritize posts that have high engagement, meaning your post reach and impressions will also improve.

Metrics you can use to track an engagement goal can include:

  • Social shares- retweets, shares, repins, etc.
  • Comments on posts.
  • Likes on posts.
  • Mentions and replies on posts.

Social Media Metrics

Drive Traffic to Your Website

Encouraging people to move from your social media to your website is another very common goal for social media channels. Your website showcases your product/service and is the ideal place to sell to your target market. Driving your audience to your website will improve your chances of turning those people into customers. To measure the traffic delivered to your website via social media, you can use all or a combination of the metrics below:

  • Number of visitors that are coming from your social media to your website.
  • Share of overall website traffic generated by social media.
  • Bounce rate of social media traffic.

The best tool to track website traffic is Google Analytics, you’ll be able to view overall website traffic, as well as website traffic generated from social media platforms, and the exact amount from each platform. You’ll also be able to view the bounce rate and many other important metrics.

Find Advocates and Fans

Advocates and fans are the people who love your brand. They spread positive word of mouth via social media and can have an immense impact on your brand depending on their own following and influence. People trust the messages other people deliver the messages brands deliver, which is what makes advocates and fans extremely important. Advocates and fans can generally be categorized into four categories

  • Satisfied Customers
  • Loyal Employees
  • Business Partners
  • Industry experts and influencers

If your social media goal is to find advocates and fans, you’ll want to measure some of the metrics below

  • Reviews
  • Shares
  • Questions on pages
  • Comments on posts

Tools such as Klout and Hootsuite are extremely useful for monitoring social media.

Share of Voice

The share of voice is the amount of conversation in your industry that is about your brand, relative to that of your competitors. It’s useful to measure as it presents you with the results and impact of your efforts, rather than the amount spent on advertising. In order to determine your brands SOV, the metrics below can be used to give you insight

  • Positive and negative product mentions
  • Positive and negative campaign mentions
  • Positive and negative competitor product mentions
  • Positive and negative competitor campaign mentions

To measure these metrics, you can use an app such as social mention. It’s a free tool and it will allow you to measure the number of mentions your brands receiving in comparison to competitors.

Hopefully, you now have an idea of some of the social media goals you’d like to achieve. Once you have established your goals and the metrics you’ll use to track them, it’s important that you also remember to compare the success of your social media activities with the time, money, and resources that have gone into achieving them, in order to determine your ROI. Understanding your ROI will allow you make better decisions going forward in regards to your social media strategy, as you’ll be able to clearly see the activities that are benefiting your brand, and the ones that aren’t worth your while. This may mean after 6 months or some other interval, you revise and reiterate your social media strategy to focus on the social media activities that are delivering results to ensure you’re achieving the goals of your brand.

Whether you’re on a free trial or already a Cascade subscriber, if you’re interested in getting even more data about your social media followers/likes, you can set up automatically tracked goals using our knowledge base resource How to Integrate Social Media Followers with Cascade.  Just follow along the steps outlined in the article.

Before you start tracking your metrics, claim your FREE 14 day trial of Cascade

Cascade is the complete strategy execution platform and will help you to track all your metrics and much more. Easy to use, incredibly powerful and trusted by some of the largest (and smallest) brands in the world. Pricing starts at $29 per month

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