Social media metrics and results can often be difficult to measure. While impressions and reach are great, those don’t always tell you what you really want to know - how is this tool contributing to gaining new leads and sales? What metrics should you be measuring to determine the actual returns from your social media efforts?
One thing to remember when measuring the performance of your social media accounts is that impressions and reach are still important metrics to be aware of. These two metrics tell you how many people are seeing your posts and how large your audience is. The larger these two numbers are, the more people who see your post.
This is why it is important to keep track of reach and impressions. However, reach and impressions are not very helpful in determining which content people actually are taking action on. These are the metrics that will tell you how your actual posts and campaigns are doing and which posts are working towards meeting your goals.
Metrics to Measure
So, now that you know your audience reach, which metrics should you measure to determine if your campaigns and content are actually working towards gaining new leads and sales? We’ve put together a list of four metrics to measure that will tell you if your posts are working towards your goals.
Clicks and Traffic
Clicks typically fall under engagement on your metrics; however, clicks tell you much more than a post like or comment would. While any kind of post engagement is beneficial for increased post views, a contact clicking on your post means the post has generated enough interest to drive traffic back to your site. The post has met your goal of continued engagement beyond social media: increased site traffic and hopefully a conversion.
To use this measurement correctly, take a look at which posts have been clicked on and driven the most traffic back to your site. These are the types of posts people are interested in and want to click on to learn more. It could be a blog share, a photo or video, or a specific subject. Keep this in mind when developing content for the future.
Shares and Reposts
How often your posts have been shared or reposted is a great example of impressions versus engagements. You could have a large reach or a large audience, but if they are not interacting with your posts, then your posts are not working no matter how many people they reach. Shares and reposts are a great way to gauge if your content is valuable and attention-grabbing to your audience.
Even more so than likes or comments, shares and reposts prove that the content you are posting on your accounts is tailored towards the correct audience. When your contacts share your posts, they are not only saying you are publishing the right content, but they also feel that their audience will benefit from the post. It is not only a great way to measure your post’s performance, it also is beneficial because your content is now in front of a secondary audience.
Traffic per Social Channel
We’ve talked before about using a buyer persona to determine which channels will be best to focus on for your target audience. If you have the reporting abilities to see which individual social channel your traffic is coming from, it will help to confirm your hypothesis formed from the buyer persona. The best way to do this is through a CRM like Hubspot, but it can also be done to a lesser extent through Analytics.
Once you know which channels are producing the most traffic back to your site, you can then focus your efforts on those channels. This is not to say you should abandon your other social accounts; instead you can spend the time and resources more on the channels producing the most return.
Customers Generated from Social Channels
One of the most important metrics to measure is the amount of customers generated from your social media efforts. While it is great to get your business out there on social media and have post interactions, at the end of the day, your goal should be to gain new customers. If your posts are not increasing your customer base, you need to head back to your buyer persona and reevaluate why they are not converting.
One of the best and easiest ways to measure the amount of customers is through a CRM. However, if this is not available to you, you can also determine this by installing a Facebook pixel on your site. This pixel can track when a person visits your site from Facebook and when they complete a conversion. Although with this method, you only track Facebook, it will still provide you with a good indication on if your posts are converting or not.
Social media is a great marketing tool to use for many reasons. While we do believe it is very important for businesses to be present and active on social channels, they should also be aware of the return those channels are generating. By tracking the correct metrics, you will be able to determine not only your posts’ reach, but also the return they are bringing back to your company.
Interested in learning about how to measure other marketing metrics? Download our Marketing Metrics Calculator to have the tools on hand to determine the value of your marketing efforts.