You should always watch a few social media key metrics if you want to increase your presence on the platforms, as they can be a powerful tool for refining your social media strategy. By monitoring the following 10 metrics, you’ll gain valuable insight into how well you’re doing on a platform, which will hopefully help you better plan your future endeavors.
What Are Social Media Metrics?
Social media metrics are data that indicate how well you’re doing on a certain platform. They’re instrumental in figuring out whether your social media strategy is efficient. They cover various data points such as engagement, reach, CPC, etc.
What Social Media Metrics Are Important to Track?
You should watch every metric available to get the best assessment of how things look. If you want to rate the effectiveness of your social media strategy, you should rate it based on the following metrics.
Average Engagement Rate
The average engagement rate represents the average rate at which your audience engages with your content. It illustrates how often people click, like, comment, and share your content. Don’t be disheartened if the percentage is low. Even the biggest brands barely achieve a 4% – 5% engagement rate.
Amplification Rate
Amplification rate is the rate at which your presence grows on a platform. It’s calculated by dividing the ratio of shares per post by the number of followers you have and then multiplying it by 100. The number you get is the estimated amount of growth you experience with each post.
Virality Rate
The virality rate is a sister metric to the amplification rate. Amplification rate considers only the number of followers you receive from a specific post. The virality rate considers the amount of impressions you achieve with a post.
To calculate your virality rate, divide the total number of shares on a post with the total number of impressions. Once you have that, multiply it by 100.
Reach
Reach is a metric that represents the number of people your posts reach. You can track reach on a post-by-post basis, or you can track it by overall reach. The algorithm of most social media platforms is designed so that you reach your most immediate group first. Specializing in a specific niche is crucial so that the algorithm knows which people to push your content to.
Brand Awareness
Brand awareness shows how many people are currently aware of your existence and how many will become aware of your existence. Establishing a few key recognizable elements is essential to growing your brand awareness.
Audience Growth Rate
Audience growth rate is a metric that measures how much your follower count grew over a certain period of time. It’s best portrayed as a percentage rather than as a specific number.
To figure out your AGR, divide the number of new followers you receive within a certain time frame by the current follower count, then multiply by 100.
Cost-Per-Click (CPC)
Growing your presence on social media takes time, but more importantly, it takes money. CPC indicates how much a single click on your social ads costs. This metric should be taken in context with other metrics, like a customer’s conversion rate and lifetime value, to get the bigger picture of your performance.
Conversion Rate
The conversion rate shows how many people purchase your advertised product. To better understand this metric, compare it with other metrics, primarily Click-Through Rate. This is a critical metric as it helps you understand your ROI.
Click-Through Rate
The click-through rate is the percentage of people who click on your links. Unlike conversion rate, CTR doesn’t consider what the viewer does next. It just takes into account the fact that they’ve clicked on your link.
Divide the total number of received link clicks by the total number of impressions the post has received and multiply it by 100. The percentage you get is your CTR.
Click Per Thousand Impressions (CPM)
CPM is a metric that shows how much ads cost per thousand impressions. This metric does not consider any subsequent actions that a viewer might perform. Your CPM should be as low as possible for a successful marketing campaign.
Having Trouble Keeping Up With Social Media Key Metrics?
The thought of tracking and analyzing so many social media metrics may seem overwhelming, especially if you don’t have the right plan in place. That’s where Atomic Idea can help you out.
Our creative brand agency specializes in formulating unique and captivating social media campaigns that will help increase brand awareness, engagement, and conversions. Contact us, and let’s chat about how we can support your social media marketing goals.
