One of the most important things that you can do as a modern marketer is fall in love with something that direct response marketers have loved ever since the early 1900’s – the ability to measure your marketing and its impact: to test, tweak, and modify your marketing until you get the kind of conversion rate you’re happy with!
Unfortunately, a lot of otherwise smart and savvy business owners really aren’t all that comfortable with marketing OR measuring – and that’s why most have absolutely no idea about KPIs for social media reports or which KPIs to pay attention to and give the most weight to.
Obviously, that’s going to be a big problem – especially considering just how competitive today’s online marketplace really is. If you’re not measuring your results, you won’t be able to replicate the things that work…and revamp those that don’t.
Pay attention to all of the inside information we are able to share with you below and you’ll begin to understand EXACTLY which KPIs to include in your social media reports and which ones to really lean on when you want to know how well your social media campaigns are doing!
How to Measure Social Success
Have clear goals
You can’t measure success unless you have goals…good goals. A goal is not “become popular on Instagram”. Here are a few examples of good social media goals:
- Increase click through to my website from Social Media to 30% during Q1
- Increase click through to my website from Twitter by 15% in the next 3 months
- Get 15 influencers to share my content during the first week of my social contest
- Increase social media sales by 10% YOY
- Increase my targeted (meaning either geo-targeted people who fit your target demographic) by 20% by year’s end
Note these goals have very specific number goals. All these goals should also include a time period.
Your followers and fans numbers are critical
One of the most important KPIs (Key Performance Indicators) that you’re going to want to pay a lot of attention to is the number of followers and fans that you have on your social media platform.
Before you get overly excited, you need to make sure that the current following you have is real and targeted. Why? Because these followers don’t convert. Sure, those big numbers look nice, but fake or untargeted followers will mess up your ROI.
You need to be able to market and advertise to real people, so once you have made sure your following is real and targeted, you need to work on building a stronger, bigger follower base. A HUGE note here. Not every business needs to be at 100,000 or 1 million followers. You should be measuring:
- Twitter followers
- Facebook likes
- Instagram followers
- Pinterest followers
What matters is the money that ends up on in your bank account…which leads us to the next social media success indicator:
Engagement KPIs are KEY
You really need to pay attention to engagement KPIs that include (but certainly aren’t limited to):
Clicks: How many people click through on your social media posts (use a URL shortener like Bitly – they’re Socialdraft compatible).
Comments: This is one of my favorite measurements. If people take time to comment on your social media posts, this means they are really invested in your brand. Pro tip – ask questions to increase your comments on your social media posts.
Retweets: Retweets are awesome. It’s a very simple metric. How many people on Twitter have “forwarded” your tweet on their feed to their network of followers. Retweets give you a chance to be seen by that person’s entire Twitter circle who may, in turn, share it as well and even follow you. Retweets will usually (but not always include an “RT” at the beginning of the post, but will always include the retweet icon. The more retweets you get, the better.
Social mentions: If you are being @mentioned by others on Social Media, you should rejoice. The more mentions of your brand or business on social media (unless you’ve just been involved in a snafu) is a great thing. Keep an eye on the conversations that mention your company, this will give you a better idea of reach.
Social shares: You want your content to be shared all over social media. Think of each social share as a link to your content. The more shares, the better. Just as with retweets, they increase the chance that your article or message will be seen (and that an action may be taken) by the sharer’s social circle.
If you have not already set up Google Analytics, you need to. They can get pretty complicated, but we’re going to give you a simple place to get started. Once you have done set up your Google Analytics, go to Acquisition > Social > Network Referrals. This will show you how much traffic each social network is sending to your website.
Conversions: This (IMHO) is the most important metric. When you put out social media posts, does your audience do what you want them to? This is super important…but first you need to understand what makes up a conversion…sure, a conversion can be a sale, but it can also be:
- a click thru
- a registration for a webinar
- a pdf download (in exchange for an email address)
- a newsletter sign up
So make sure that you have a goal for each of your social media posts and that you measure the conversions on each of these calls to actions.
Sales: Speaking of conversions…this is the ultimate conversion, a monetary transaction. Each time you sell something (be it a physical product, service, or membership) – make sure you track where that sale came from organic traffic, paid traffic, or social media. If you’re noticing a decent number of sales from Social Media, then you’re doing a-ok.
Social Media Reporting
If you’re just getting started in social media, you may not have the time to do this all by yourself. Socialdraft offers great reporting (with white label options – so you can remove our branding and add your own) that includes all the basics to get you started on reporting including:
Facebook: Total Fans, New Fans, Unlikes, Top Views, page Impressions, and gender impressions, page views, post reach, impression demographics by age and gender, top country and top cities
Twitter: Overall followers, times you have been listed, favorites, daily interactions, twitter mentions, and audience demographics by age and gender
… And that’s just the tip of the iceberg!
These engagement details are of the utmost importance to track because they are going to let you know just how well you are resonating with your market, at least from a social media standpoint.
These are the KPIs to include in your social media reports when you want to really understand how effective your marketing is, how much you understand about your target market, and what you can do to better improve your marketing moving forward.
How to Manage your Social Media Accounts
Socialdraft is an all-in-one Dashboard that helps you manage multiple Social Media Acccounts. It is the most robust and simple tool for agencies and teams to effectively handle social media. With Socialdraft you can:
Schedule posts to Facebook pages, Twitter, Instagram, LinkedIn Business Pages (and one LinkedIn account) and Pinterest Boards
Schedule posts individually, as recurring posts, or bulk upload them as CSV
Easily re-schedule with a drag & drop action
Schedule GIFs to Facebook and Twitter
Download content calendars as PDF
Keep an eye on your online reputation and easily share the good news to social
Find content on Instagram and easily schedule reposts not just to Instagram but to all other social networks
Engage on Twitter, Facebook, and Linkedin
Download Facebook and Twitter reports
and tons more…