Social media use isn’t just growing – it’s exploding. Statista reports that Facebook has 2.9 billion monthly active users and is just one of many popular platforms that customers regularly consume. Constructing a comprehensive social media strategy is top of mind for businesses, and knowing what to measure is as important as how to measure these interactions.
Understanding how social media metrics reflect user sentiment and conversion is as critical as understanding business goals. Assuming a company understands what outcome is expected from posting on social media, consider the following selection of some of the data that helps to form a strategy:
- Video Views
- Click Links
The challenge is to parse which data aligns with business goals. If you have heard of the term vanity metrics, there isn’t much more to say about the quality of this data. The most passive of data is considered nothing more than vanity, so while measuring how many likes on a post can be satisfying, it doesn’t relate often to conversion. Likes, followers, and comments are prime examples of vanity metrics. Determining the best channels for communication affects this as well. For example, if customers are not shopping on TikTok for a product or service, those metrics (likes) are not relevant and are considered vanity metrics. Given the nuance of business goals, no two metrics are alike in value from account to account.
Actionable metrics provide opportunities to measure goals and analyze success. Social media strategy is formed based on metrics that matter. Click-throughs show interest, with people taking time to actually consume the content. Similarly, tracking the flow of traffic from social media to website sales shows concrete data on conversion, attributable to a singular post or ad. Social media conversion rates show the percentage of visitors referred by social media who become actual customers. The measurable quality of these data points reflects true business impact.
The metrics a business chooses to measure will vary from platform to platform. Reach and impressions are two examples of metrics that might not measure the same thing on different social platforms. These platforms have significantly different ways of measuring accounts, so understanding those differences helps to parse what metrics will affect strategy. For example, Facebook reflects data around reactions, shares, and comments, whereas Instagram measures likes, saves, and comments. “X” looks at likes, retweets, and replies. When businesses understand where to meet the target audience, then the metrics that matter fall into place.
Staying adaptable on social media is a means to go with the flow, to identify additional opportunities for connection that happen organically. A post with significant engagement (comments, shares) can spark additional content creation or even a conversation with customers. It’s difficult to know what content will foster spur-of-the-moment opportunities, so having the ability to respond makes for stronger connections.
So, which are the metrics that matter? It depends. What are the business goals? What is the impact of the campaign’s strategy? Select Social KPIs that align with those goals. Enjoy the benefits of authentic interaction with customers, it’s the best way for a brand to shine.
To learn more about the changing digital media landscape and how it will impact your brand’s social media marketing strategy, call the experienced professionals at Junction Creative Solutions (Junction) today at 678-686-1125.