Social Media KPIs; Key performance indicators. Today Social Media is not just about publishing posts or replying to fans inquiries or complaints. Social Media has become a very important business and there is no company running a business without relying on it social media presence.
As marketers we are coming from an era of no data to very detailed insights about our customers and their behaviors. Years ago which is not so far; we have a high level numbers about newspaper sales, TV show views or even a radio audience but I’m not sure how many customer viewed or interested in my ad. But nowadays we have a full insights and data analysis of my ad performance in our Digital presence.
We should focus on how to use these data in preforming our business much better and achieve more success behind using our Social Media channels; that’s why we need to highlight about our Social Media KPIs.
Determine Social Media KPIs:
To measure the success behind your Social Media channels you need to identify your KPIs; the best-case scenario is to create the minimum number of KPIs which will deliver you to the required results. The ideal number of KPIs is from three to six KPIs. More than that, the team can not focus on all of it and you will not notice any development.
For Social Media we can split our KPIs into four main pillars and you can utilize the best which will meet your business needs:
- Growth: Number of Facebook fans or twitter followers is a good indicator for your channels expansion but due to Social networks’ algorithm and reach declining; you need to be ensure of the growth of your engaged fans or active followers; this KPI will be useful for you and your business
- Engagement: one of the KPIs that most of the brands are looking for; which can be figured out through numbers of reactions; likes, Retweets, shares, tweets on campaign hashtags and comments.
- Performance: it is your equation to measure your team performance based on the business objectives like: Engagement rate, Response rate, Response time, Conversion rate from Social Media… etc.
- ROI: the final pillar or the most important one is the ROI or the return on investment which measure the generated revenue behind the performing your team. This is the most important one because it will view the importance of this team to your business and how it helps in generating revenue. You can measure the ROI through sales or conversion rate from your social media channels; service activated and you can know more about how to measure Social Media ROI
Finally; you can share with us what’s your Social Media KPIs and how you measure it in the comments below.