You hear us drone on and on about the importance of social media in today’s marketing landscape (and before we go any further, we’d like to remind you that we will continue to drone on and on about it - you’ve been warned). Clearly it has become a necessity for businesses to not only have, but improve upon their social media status.
The question now becomes, how can your social media team actually prove their hard work is adding to the company’s bottom line?
When you look at social media metrics, there is an abundance of data and ways to measure ROI. The true challenge is deciphering which metrics matter and which ones you might want to avoid focusing on. The metrics you choose to analyze will differing greatly depending on your individual business goals. Like a fingerprint, no two business goals are exactly alike. Before you even think about taking the deep dive into your analytics, make sure you have clearly identified your campaign goals. Otherwise, you won’t know which metrics are valuable.
Here are some metrics that you may want to give the Skkkrrrt, pass.
1. Likes - The first on the Vanity Metric scale is the sought-after thumbs up. Yes, getting a thousand likes on a post seems cool, but at the end of the day, what do those likes actually amount to? Maybe don’t completely ignore this metric, but definitely don’t gauge your overall performance on the number.
2. Followers - Ok, ok, we know you want to grow that follower number, especially when hitting 10K gives you the holy grail of the digital world - adding links, but over the years us humans have become all the wiser and it’s clear that buying followers is a real thing and brands actually do it. Plus, just because you have a large following doesn’t mean those followers care about your content. There’s literally nothing worse than having a bajillion followers and ZERO engagement. Shift the focus here on engagements per post or per follower. This will give you better insight into what your audience likes and what you should consider changing up.
3. Page or Video views - It’s great that your content received decent views, but what’s even better is tracking how engaging (see above) that content is! Unfortunately, page views will only tell you how many times that post was seen. Same goes for video views. It’s lovely to know your video played for at least three seconds, but did your video incite action? Who knows! That’s why views are almost virtually worthless on a conversion scale.
Give these metrics a little more of that lovin’.
1. Engagements - Here we go again on our engagement rant… Sorry not sorry. Engagement is so important! The entire premise of social media is built around, you guessed it, BEING SOCIAL. If the content you are posting is not being engaged with, there’s some serious restructuring to be done. It could be your content sucks (you know we’re figgin’ truth tellers) or you might be targeting the wrong audience. Either way, use engagement to measure how many people and how often those people are interacting with your brand.
2. Shares - Another form of engagement, shares are high quality because it increases the visibility of your profile or post, while telling you that you’ve accomplished a golden rule in social media: create shareable content!
3. Sales - Um, duh. If your social media profiles and content are converting sales then we’re pretty much done here. Like we said before, all business goals are different, so maybe you don’t need to make sales. However, with new tools like the Instagram shop tags in place, social media is now a hub for driving revenue if that’s part of your strategy.
Listen, all metrics exist for a reason and none should be completely sidelined. All we’re saying is some metrics are more valuable than others and it’s important that your team knows which to focus on.
Having a hard time deciding which metrics are important to your marketing goals? Hit us up. We can Fig It Out with your social media team so they’re stacked and ready for battle!