you're wasting time on these social media metrics.
When we think of social media, we often think of funny videos on TikTok or lifestyle influencers...when in fact, you should probably consider social media itself in its entirety as the ‘great influencer’. Not sure what I mean?
/ 90% of marketers say marketing on social media has increased exposure for their brand.
/ 75% of marketers say they’ve increased traffic to their websites through social media.
/ 98% of digital consumers aged 16-64 have been active on social media in the last month.
/ 94% of digital consumers aged 16-64 have an account on at least one social platform.
..so it’s safe to say that social is a big deal when it comes to marketing your product or service. But how do you know if your social media marketing efforts are working? Which metrics really matter, and which ones are just noise? Let's explore some of the key social media metrics that businesses should be paying attention to, as well as those that aren't worth stressing over.
> the metrics that don't matter so much.
These are metrics that might look impressive at first glance, but that don't necessarily translate into real business value:
Follower count: While it might be tempting to focus on the number of followers you have, this metric alone doesn't tell you much about the quality of your audience or how well your marketing efforts are performing.
Vanity metrics: Vanity metrics are metrics that look good on paper but don't actually mean much in terms of real business value. For example, the number of likes or comments you receive might make you feel good, but they don't necessarily translate into actual sales or leads.
Impressions: Impressions refer to the number of times your content is displayed, regardless of whether it was actually seen or engaged with. While this metric might give you a sense of how far your message is spreading, it doesn't give you a clear picture of how well your content is performing.
> the metrics that do matter.
These are the metrics that can give you a clear understanding of how your social media marketing efforts are performing and help you make informed decisions about how to improve your strategy:
Engagement: Engagement is a measure of how actively your audience is interacting with your content. This can include likes, comments, shares, and other forms of interaction. Engagement is important because it shows that your content is resonating with your audience and that they are interested in what you have to say.
Reach: Reach refers to the number of people who see your content. This is important because it gives you an idea of how far your message is spreading and how many people you are reaching with your marketing efforts.
Conversion rate: Conversion rate is a measure of how many people take a desired action after seeing your content. This could be making a purchase, signing up for a newsletter, or downloading a lead magnet. Conversion rate is important because it shows how effective your social media marketing is at turning your audience into customers.
Audience growth: Audience growth refers to the number of new followers or fans you are gaining on your social media platforms. This is important because a growing audience means that more people are interested in your brand and what you have to offer.
Social media metrics are an important part of any marketing strategy, but it's important to focus on the metrics that really matter, such as engagement, reach, conversion rate, and audience growth, rather than getting caught up in vanity metrics or those that don't provide much value.
Need help trying to understand what your social media analytics mean for you? Get in touch to see how we can help.
