A good social media marketing strategy is a measurable social media marketing strategy. You may be guessing which content or channel will be most effective in helping you achieve your business goals.
However, in the absence of clear measurements, these guesses are just inaccurate, so they are likely to be wrong. Key performance indicators or KPIs are one method that you can apply to measure the effectiveness of your social media marketing strategy.
There are now many analytics tools available that allow you to measure and monitor thousands of social media metrics.
But that doesn't mean you have to measure all of those metrics. You just need to measure and monitor the performance of your social media campaigns based on metrics that are relevant to your marketing goals.
This article will discuss some important KPIs in social media marketing that can help your social media marketing strategy run more measurably. In addition, at the end of the discussion, tips are also included on how to start measuring the KPIs of your marketing strategy well.
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4 Most Important Social Media KPIs
There are various reasons why brands or businesses use social media, for example, to reach new audiences, share information or updates, interact with consumers, and other reasons.
Your goal in doing social media marketing will determine what KPIs you should measure. Some of these KPIs can be categorized as follows.
1. Brand Awareness
Surely someone will not be possible to become a consumer if they do not know your brand or business.
Social media is a fairly effective platform for introducing your brand to users and convincing them that your business offers products or services that are relevant to them.
If your goals are related to brand awareness, then some metrics that you can use as KPIs include followers, mentions, as well as consumer sentiment towards your brand.
Being active on social media can help you to increase brand awareness, while building a positive perception from the audience towards the brand, you can apply the next KPI.
2. Engagement
Having a lot of followers is certainly a good thing because it means the audience coverage of your account is getting bigger.
However, this number of followers will only be meaningful to the business if they are actively interacting with your account. Do they take the time to visit your social media page or website? Did they leave comments or share your posts? Or are they willing to make posts about your brand or product?
You can use all of these metrics as a measure of how much engagement you receive from your followers.
3. Website Traffic
If bringing traffic to your website is one of your main goals, then you need to measure the number of visitors your website gets through social media platforms.
This will help you to understand how effective your CTA (call to action) is, or find out how many followers decide to visit your website after viewing your account profile.
You can also see the behavior of your website visitors who come from social media. For example, by finding out what visitors do once they arrive on your landing page, or whether they make a purchase based on the content on your social media.
4. Conversions
Although your social media marketing strategy should be focused on building relationships or interactions with consumers, you can also set the conversion value you get as a KPI for your social media marketing efforts.
If you lead followers to your website to take an action, then you have to monitor how many followers visit your website and take the action. Actions can take the form of signing up for a mailing list, downloading content, or making a purchase.
How to Start Measuring Social Media KPIs
After knowing what KPIs can be used, the next thing you need to know is how to measure them. KPIs are the most effective way to find out if social media is helping you in growing your business.
The following steps will assist you in measuring and monitoring social media marketing KPIs.
1. Setting Goals
Running social media marketing can offer a variety of benefits for your business.
But how profitable social media marketing is for your business can only be seen if you have clear goals. The goals you set must be specific, measurable, and have a timeframe.
For example, “getting a lot of followers on Facebook” is an example of a less clear objective. To be more specific, you can change it to “get 1000 followers on Facebook in 3 months”.
2. Choose Analytics Tools
After having specific goals, you must determine how your social media marketing progress will be measured.
Currently, there are many built-in tools such as Instagram Insights and Twitter Analytics, which can help you easily monitor social media marketing performance. However, some of these tools usually have limitations in terms of metric availability.
For example, if generating website traffic is one of your goals, then you will need to use additional tools such as Google Analytics to measure the amount of traffic you are bringing in from social media.
3. Experimenting and Optimizing
After your campaign has been running for a few months, you will have an idea of whether the current campaign will achieve the goals that have been set, or whether a strategy adjustment is needed or not.
To improve your strategy, you can do various experiments such as trying to differentiate between posting times, creating posts with different formats (photos or videos), or changing language and visual style.
Keep experimenting and optimizing until you find the right way to interact with your followers.
Conclusion
In general, key performance indicators (KPIs) are useful to assist marketers in determining whether their digital marketing efforts have been effective in helping their business or not. Likewise, KPIs for social media marketing can help you create a more measurable social media marketing strategy for your business.
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