Many developers forget that social media metrics is very important for your brand`s success. If you track the right metric, you are able to find weak places of your social media strategy and fix them.
However, it`s also important to know what exactly should be tracked. So, it this article, we will tell you about 7 the most important social media metrics and show how to track them.
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Conversation rate
It`s the ratio of comments per post to the number of all followers you have. We recommend you to track comments without any context. After all, if you have an average 20 comments per post, it`s a lot more impressive if you have only 200 followers.
With tracking the conversation rate, you will be able to understand what part of your audience is compelled to add their voice to the content you post on social media.
How to track it:
- Use Hootsuite Analytics to pull the number of comments you received during a specific period.
- Divide that number by your total number of followers and multiply by 100 to get your conversation rate percentage.
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Cost per thousand impressions
CPM is the amount of you pay every time when a thousand people scroll past your sponsored social media post. A cost per impressions post won`t necessarily drives action. It`ll only create impressions and views. Therefore, it`s faster and cheaper way to split test contest.
How to track CPM:
- Check your platform`s advertising manager.
- Check it regularly.
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Bounce rate
Bounce rate is the percentage of page visitors that click on a link on your post, only to quickly leave the page they land on without taking an action.
This social media metric gives you an ability to measure your social media traffic – and, in turn – ROI against other sources of traffic.
If your social media bounce rate is lower than that of other sources, it`s proof that your social media campaigns are targeting the right audience and a high-value traffic.
How to track bounce rate:
- Set up Google Analytics
- Open the tab named “Acquisition” and look under “All traffic” for “The channels” segment
- Click on the “bounce rate” button, and you will see all the channels from the lowest to the highest.
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Cost per click (CPC)
CPC is the amount of you pay for every click made on your sponsored social media post. Whether you choose the platform for advertising (Facebook, Instagram, Twitter or LinkedIn), you don`t need to focus on your total spend. You should look only on your CPC. It`ll help you weigh if your investment in attention is efficient or wasteful.
How to track CPC:
- Check your platform`s advertising manager.
- Check it regularly.
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Virality Rate
Virality Rate is the number of people who shared your post relative to the number of unique views during a reporting period.
Nicolas Gremion said that if a post gets 17 000 likes, it may get only 0.1% virality. At that time, other post that gets 10 000 likes will get 9.97% virality, and this post will be better that the first one.
How to track it:
- Measure a post`s impressions
- Measure a post`s shares
- Divide the number of shares by the number of impressions and multiply by 100 to get your virality rate percentage.
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Engagement
Engagement is the social media metrics that gives you an information about the number of people who interacted with the content you posted on your social media platforms. Engagement could be shown in likes, comments, shares and other actions that are available in the social media.
How to track engagement:
- Open a social media platform (for example, Facebook).
- Open “settings” and click on the engagement button.
- You will be able to see all actions performed with your content.
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Audience growth rate
This metrics measures the speed at which your brand`s following increases on social media. In easy words, it shows how quickly you gain followers.
As access to the internet continue to increase around the world, brands` social media followings will also increase.
How to track audience growth rate:
- Measure your net followers over a reporting period
- Divide your new net followers by your total audience and multiply by 100 to get your audience growth rate percentage
Note: you should track this social media metrics separately for each platform.
Conclusion
So, here it is – our list of the most important social media metrics that should be tracked. Track them regularly, and you will have a better understanding about your social media business` progress.