KPI or the Key Performance Indicator is the ultimate decider of every digital marketing effort. These are the metrics that help to evaluate the strategy, performance and whether they are at right trajectory.
Today, the social media marketing has become a phenomenon because there are certain KPIs with which brand can measure every effort.
When planned and tracked right the KPIs can add massive impetus to every social media marketing strategy.
Why do you need social media marketing KPIs?
Today social media marketing is not just an option but a big bucket list for you.
With over 1.7 billion Facebookers, 1 billion YouTube users, and hundreds of millions of others on platforms from Twitter and SnapChat to Reddit and Instagram, going social is the best way to leverage some good fortune for your brand and business.
And here starts the problem of plenty where KPIs can save your budget and time.
Is it a wild goose chase or one can reap the benefits at a specific stage of their campaign- the study of KPIs can unveil the mystery.
For a naive the study and implementation of KPI can turn out to be a headache as there are numerous KPIs in social media marketing. On top of that, not every KPI can be used to assess the performance for every project or platform.
So, how will you decide which KPI is crucial for your business and what have less or no value in your social media platform and plan?
Here are the top seven KPI which will help you to sum up your social media marketing efforts.
These KPIs have been picked up based on their role in social media journey-
Let’s know the seven KPIs one by one now-
Every success of the social media campaign starts with the engagement of their posts. How the post is performing? The only way to understand the process is to count the clicks it has earned.
More clicks will signify that the post has been able to catch people’s imagination. And they are either clicking the post image for a better view or they are clicking the associated link to have more information.
Click is not a vanity metric. Giving a valuable insight it underlines the positives and also the loopholes.
Both Facebook and Twitter have their insights packed with how many people have clicked their posts.
Facebook insights showing how many clicks a certain posts has got.
Even with the Twitter, it’s easy to track down the “clicks”.
After click comes likes, one of the major KPIs in social media marketing. The “likes” are the holy grail of social media campaigns. More number of likes signifies the growing acceptance of the page or post among the folks and target audience.
Take any popular brand or business and measure their “likes” and you will find that their social media pages have acquired huge number of likes.
For any emerging business, “likes” is a crucial KPI for reasons more than one-
- More page “Likes” cater to credibility
- More post “Likes” increases the chance of better visibility in news feed
Evaluating the “likes” and tracking down their gradual leaps or landslide is simple with Facebook and Twitter.
Twitter too provides a rich analytics where one can easily track down the “likes” achieved over a period of time.
Across the platforms “Likes” have different role. Whereas in Facebook, one can use this very KPI to gauge their page and post performance, platform like Twitter is known for providing the post likes. There is nothing called “Page Likes” in Twitter.
3. Share and Retweet
Another important KPI if not the most crucial one for maximizing your promotional efforts. “Likes” and “Clicks” are the primary stages of engagement where your target audience is slowly drawing to your page. But the shares and retweets are the signs which sealed the victory for you.
When someone agrees to share or retweet your posts (image, blog links, videos, meme, Gif), they give their vote, confidence and love to you. It’s their conscious decision to share your views with folks and friends.
More number of sharing on your posts underlines that you have been able to tap into their interest and now with valuable content you can convert them into your loyal followers and potential buyers.
On top of that, every share gives your post better visibility and chances of more engagement.
All major social platforms have “shares” to give their users maximum exposure.
In Facebook, share is a foremost KPI to understand the post’s popularity. In Twitter, it’s the retweet.
This KPI differentiates the loyal fans from mere Followers.
Whoever comments on your post, tap on them. They are the genuine prospects. Instead of just following you they are making an effort to interact with your post giving the valuable feedback.
To be very honest, an online merchant cannot ask for more. If it’s a good feedback, embrace and dive in to create more awesome strategy. And if it fails, take a fresh stance to win your audience back.
Good or bad, every comment and every feedback is valuable giving you a reality check.
Comments are valuable for brands as they will have definite idea on their users’ perception. They can also engage with the users by taking part in the conversation.
It feels nice when someone calls out your name in a crowd. You feel special, you feel important. Getting mentioned on social media is a similar feeling. For both Facebook & Twitter ‘at’ (@) is used for mentioning a person or brand.
So how does it work?
Suppose you are carrying out your business under the brand name ‘xyz’. You have a Facebook page where you post every update about your business. You have a good follower base. Now, each time your business page gets a mention, it appears in the news feed of your followers. This improves your chances of getting noticed which finally results in an extended page reach.
Mention also aids the company in tracking the conversations related to the brand name. It is like who is remembering you & for what reason. However, mention is a risky parameter as it exposes both the positive & negative sides of a brand’s services.
6. Active Followers
Every social media journey wants to close with a bagful of followers giving a shot at the conversion. The follower list allows the brand and business to showcase their products and services to more number of people who actively follow them.
The term “active following” underlines the active participation from the followers. These loyal troop actively like your post, share them and provide their valuable feedback.
An envious number of followers gives you the edge over your competitors. More you have, better the chances of leads and conversion. Good follower list also helps you to build your brand. How many followers do you have?
Successful digital marketers like Neil Patel has been massively benefited by the fat follower list.
This is a deciding KPI and a trump card in your social media marketing game.
Influencers are the people with maximum reach, impeccable thought-leadership on their domain and a strong grip on their targeted audience.
All emerging brands look for someone who can draw massive audience to their products and service. Influencers add immense value here with their great fan following.
More number of this strong KPI can give you scores of followers and potential buyers without any hustle.
Let’s understand what an influencer can do-
Imagine you are a tech startup battling for some word-of-the-mouth promotion. You need someone who has massive follower base and whose words people follow, pursue and worship.
In such scenario, someone like Gary Vaynerchuk can make a huge difference.
If a brand earns Gary’s vote and convinces him to give them a little promotion, then it’s a moonshot. Reason? Gary has 1.51 million followers.
This is why having an influencer is so important KPI for social media marketing.
Save yourself from Vanity KPIs:
If you want to reap the fruits from your social media marketing, embrace the KPIs which we have mentioned. If you go to Facebook, Twitter or any other third party analytical tools, you will get plenty of metrics. Don’t confuse yourself with the metric like “impression”. They matter nothing to your brand except the visibility. Engagement and interaction are more valuable where the KPI like “click”, “comment” and an active “follower” list bring massive metamorphosis. Start leveraging all six of them now.