There are many social media marketing services your small business should consider. No matter which ones you choose, they should all include some form of social media analysis. This is the only way to truly understand how and if your social media marketing is achieving your goals. Here are 6 social media metrics we believe are worth measuring:
- Click-thru and Bounce Rate
A click-thru is simply a link click. When someone clicks a link, it indicates interest. This is certainly a significant metric to measure however, it becomes even more valuable when you add in your bounce rate. Measured as a percentage, the bounce rate is the number of visitors who leave your site after viewing a single page. Why is this important? Because your goal for every website visitor is to become immersed in your website for as long as it takes to become a customer.
- Audience Growth
Your social media audience is represented by the number of fans, page likes, and followers your business has. One of your digital marketing goals should be to continually grow this number. There are a few numbers to keep an eye on such as growth rate, new followers and follower/following ratio.
- Share Of Voice
This is how you gauge the success of your social listening skills. If you’ve been listening to and engaging with relevant social media discussions, then you should see more mentions of your brand versus the competition. This is a fantastic metric to use when you want to prove the effectiveness of your company’s social media efforts.
- Optimal Posting Time
If your customers are mostly social at night, don’t post at 7 am in the morning! Determining the best time to engage with your customers is as essential as what you post. Take advantage of the free analytics offered by Facebook and Twitter, then check your posting times every week and adjust accordingly.
- Social Media Traffic
Anther metric to consider tracking is your social media traffic. Just as important as getting traffic – is knowing where it came from. Was it one of the search engines? If so, which one? The same goes for social media – which platform? Look for any social networks that aren’t sending enough traffic and experiment with your content and call to action until those numbers improve!
- Conversion Rate
This particular measurement gives value to comments. It goes further than the number of comments that a particular post or tweet has. The way to calculate it as follows… Take the total number of comments you have over a specified period of time and divide it by the number of followers/fans/connections you have. Then multiply it by 100 to identify your conversion percentage.
Take this list of 6 social media metrics and decide how many you can handle at first. You can always build in more metrics to watch later on.
Determining and monitoring social media metrics is just one of the ways Venerate Media Group’s social media services can benefit you and your business. To learn more about our social media services, contact us today!