Metrics That Matter

More than ever digital trends are leading consumers to interact with businesses online. Social networking apps make it easy to connect with followers that allow you to gain knowledge of customer interests, preferences with lots of relational data. Analytics (Google, Facebook, Meta Suite and your website) help you understand your audience behaviors and interests, to include knowing when they might be online. Knowing how to use this data allows you to to identify what works, improve your rate of engagement, and success. This is a short article to help you create metrics that will bring you closer to your audience and in that process grow your business.

Why Data

Social media metrics are sets of data used to measure the effect of social media activity on a business’s revenue. Businesses and their Marketing departments (sometimes that is you) use social media monitoring software to examine consumer activity, with your website, parts of your website, social media profiles and collect information about the consumers company, brand, product’s, interests and other information. With social media becoming more relevant to consumers, with improved search results and tailored content, monitoring tools are making it easier for companies to turn that data into actions that will benefit their business. The world of social media metrics can be challenging to understand. From likes per post to follower counts, it’s hard to know what you should be tracking and if it’s essential for your growth.
So, if you want to know which metrics your business should be paying attention to, keep reading.

“With social media becoming more relevant to consumers, monitoring tools are making it easier for companies to turn data into actions that will benefit their business”

Post Engagement

Think: Clicks, Comments, Likes, and Shares. Engagement encompasses a lot of categories but essentially, it accounts for how much and how often your followers are engaging with your profiles. Each platform has different engagement metrics that are made up of smaller metrics – likes, shares, comments, etc. High engagement rates not only show that your audience is responsive but that you have “real” followers vs. passive followers or bots.

Awareness

Impressions and reach are both important metrics to track, specifically if your social media objectives are to grow or change your brand awareness/perception. If you decide to use these metrics, it’s critical to understand the difference between the two. Impressions: How many times your content was displayed, whether someone interacted with it or not Reach: How many views your post has received Though these are both important, they work best when accompanied by other metrics. Try looking at both awareness and engagement metrics to get an accurate idea of your audience.

Return on Investment

Return on investment metrics are used to track how much website/social media traffic coverts to sales. This metric is most important for businesses with websites and social media referrals that can be tied to sales and marketing objectives. To track ROI effectively, you’ll need a tracking tool as well as a website traffic analytics tool such as Google Analytics.

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