According to Jeff Bullas, 72% of all internet users are now active on social media. Also, according to SocialFresh, social media marketing budgets are expected to double in the next 5 years. However, sharing content with thousands of followers at once isn’t the only benefit of social media for business. Businesses worldwide have been discovering the ways social media can contribute to success and growth in all areas of their companies.
To implement a successful Social Media Strategy, you need to measure the performance of your social media efforts.
Figuring out which social media metrics you need to track to determine how you're progressing towards your marketing goals can be confusing. In this post, I will go through the social media metrics every social media manager needs to know to prove the success of their efforts.
Amplification Rate is the rate at which your audience shared a particular post in a specific period of time. Think of this one as the number of retweets, re-shares, or re-pins of a particular post.
Total number of amplification actions ÷ Total number of posts per reporting period * 100
Calculated per social network:
Twitter: Total number of retweets ÷ total posts
Facebook: Total number of shares ÷ total posts
Google Plus: Total number of shares ÷ total posts
LinkedIn: Total number of shares ÷ total posts
Pinterest: Total number of repins ÷ total pins
The applause rate is based on the number of "likes" each post gets. Every social network out there has a button to show applause. Twitter has favorites; Facebook has likes; Google+ has +1's. Approval actions are a sign that your content is on the right track and show a level of engagement with and approval of a brand’s content.
Total number of applause actions ÷ Total number of posts per reporting period. * 100
Calculated per social network:
Twitter: Total number of favorites ÷ total posts
Facebook: Total number of likes ÷ total posts
Google Plus: Total number of +1s ÷ total posts
LinkedIn: Total number of likes ÷ total posts
Pinterest: Total number of favorites ÷ total pins
Audience Growth Rate is the rate at which a brand gains or loses its audience per social network. When viewed as a percentage of the overall audience per channel, the audience growth rate is a more useful metric than simply looking at new fans or followers.
Average Engagement Rate is the percentage of your total audience engaged with your content (likes, shares, retweets, favorites, etc.) on a social channel per reporting period. This number gages the level of interest your audience has in your brand. In addition, the average engagement rate helps you identify which type of content and tone of voice resonates better with your audience.
The total number of engagement actions across each social network per reporting period ÷ The total in your audience on that network.
Facebook: People Talking About This ÷ total fans
Twitter: Total number of retweets + mentions+replies ÷ followers
Google+: Total number of shares + comments + +1s ÷ number of people that have you in Circles
LinkedIn: Group: Member posts + member-originated discussions + comments + likes ÷ total group members
Company page: Likes + comments + shares ÷ total company followers
Personal page: Likes + comments + shares ÷ total connections
Pinterest: favorites + comments + repins ÷ total followers * 100
Average Response Time is the average time it takes you to respond to your audience's comments, questions, or problems. According to Social Habit, 42% of consumers who complain about social media expect brands to respond within one hour, while about 32% expect a response within 30 minutes.
Brand Awareness is the overall number of mentions of your brand online. This number represents overall social buzz about your brand; the more mentions, the more buzz your brand is getting.
Click-Through Rate is the rate at which your audience clicks on a link within a post on a given social network. This is a great way to identify what type of content your audience likes to consume. By comparing the click-through rate of one post to another within the same social network, you can easily identify which types of posts work best.
The number of clicks on the link ÷ total number of people who saw it * 100
It is important to use URL shorteners like bit.ly to measure the number of clicks on a specific URL
Conversion is defined as the number of visitors who take or complete the desired action, such as making a purchase, registering their interest, and fill in a contact form. Therefore, a conversion rate is the percentage of conversions out of the total number of visitors.
Follower growth by channel is the change in the number of followers for a given social media profile.
#of comments, questions, or comments you responded to ÷ The total # of comments, questions, or problems from people talking about your brand
Percentage of Social Visits is the percentage of traffic to your site referred by any social media source. This is an important metric to gauge the contribution of your social media efforts to bringing visitors to your website.
Post Rate is the Number of posts to each social media network per reporting period (e.g., the total number of Facebook posts, Twitter tweets, Pinterest pins, etc.), broken down by average daily, weekly, or monthly.
Usually, brands post multi-topic content, like brand news, industry news, competitions, etc. Therefore, it is helpful for brands to measure the percentage of posts to each social media network per reporting period broken down by content topic.
Reach measures your brand's largest potential audience on a given social network per reporting period. Reach value allows you to quantify not only the users you engaged with but the followers of those users, who may have seen your @handle or Tweet or on Facebook Friends of Friends.
Response Rate is how long it takes you to respond to a customer comment, question or problem. To truly delight your customers, you have to respond to their comments and always answer their questions or problems. The response rate is calculated as follows:
Total mentions replied to ÷ Total mentions
Sentiment refers to the emotion behind a social media mention. It’s a way to measure the tone of the conversation — is the person happy, annoyed, angry? Sentiment adds important context to social conversations. Without it, the measurement of mentions alone could be misleading. Although measuring sentiment on your own can be quite a time commitment, there are tools like UberVU that can automate measuring your brand's mentions sentiment.
Share of Voice is the percentage of conversation about your brand. The total conversation about your brand and competitors should add up to 100%. This metric lets you know how your brand stacks up against competitors.
Your brand’s mentions ÷ The total industry mentions * 100
Visitor Frequency Rate is the percentage of social media-referred visitors to your site that are returning, as well as the percentage of new visitors. This metric helps you measure how your social media content is working to keep visitors returning to your website. In addition, analytics tools such as Google Analytics can help you measure %of new visits and % of return visits by referral source.
With these Social Media Marketing metrics, you can start measuring and evaluating your Social Media effectiveness to launch better and more engaging social media campaigns that you can present to your leadership team.
My name is Izzy and I am a co-founder of CRM Toolbox, an award-winning HubSpot Solutions Partner. I lead our team of consultants who provide professional guidance to help businesses implement the HubSpot CRM platform migrate, integrate their tech stack to HubSpot to create a seamless environment for sales reps to use. There is nothing I love more than solving the challenges that come up when someone wants to migrate an old system or integrate their tech stack with HubSpot - it's like a puzzle!
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