4 Social Media KPIs that Make Your Life Easier
Your company is on social media. In this day and age, that’s a given. Do you manage two accounts, three, eight? It seems like every day, another medium is created that can help you reach your customer.
And there are so many social media strategies to choose from. Do you advertise on the big platforms, do you focus on niche communities, do you attempt to do it all?
Sometimes, it’s hard to be sure exactly how your social media spend is impacting your bottom line. Track your social ROI with key performance indicators (KPIs) like the following, and make the best decisions for your brand.
- Fans and Followers: In order to understand your brand’s reach, you need to know how many total followers you have on your many platforms. A running total (updated in real-time) will give you a snapshot of your audience for any content you put out. Additionally, comparing your brand’s reach between platforms will give you insight into where you should focus your marketing spends.
- Demographics and Locations: Your social media spend can be further maximized by targeting the demographics and locations that are already producing the best return. Once again, keep a track of the trends in your demographics and and locations among your platforms as a whole. Ideally, they should line up with your target customer. Drilling down into platform-specific demographics will also help you create content specifically for the people that engage with your brand in each medium.
- Engagement: Followers’ engagement with your brand can be essential for conversion. Understanding how it impacts your ROI comes down to conversions and SQL. Oftentimes, a user who engages with your brand on social media is more likely to convert and pay. However, that might not always be the case. Recall your social media strategy. If it is educational, and fan-based, with less promotion and more content, your engagement may not be the most significant measure of your performance. However, if it includes frequent CTAs, then you need to measure and compare the results across platforms.
- Qualified Leads per Platform: The average social media strategy includes at least 3 platforms. It’s important not to measure KPIs within the social network alone. Compare metrics like qualified leads per platform to understand which media produce your largest conversions, which reaches the biggest portion of your target market, and which has the lowest CAC. Don’t be afraid to mash-up your data- it will probably lead to the best ROI.
What social media metrics matter to your brand? With Leadtime, you can compare, contract, and simply keep track with your social media KPIs on one clean, easy dashboard. Get your free demo today!
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