With social media becoming an increasingly important marketing tool, tracking your Key Performance Indicators (KPIs) is more crucial than ever. These key performance indicators will help you measure the effectiveness of your social media campaigns and determine what adjustments need to be made. Here are a few essential social media KPIs you need to track.
What is a KPI?
KPIs are the metrics your business tracks to help determine the overall effectiveness of your business’s marketing and sales efforts.
4 KPIs You Should Track
Average Engagement Rate
This metric measures how often users interact with your content. A high engagement rate can mean that people find your content interesting and valuable and are more likely to become customers or clients. There are many ways you can measure the engagement of your social media page or a particular post.
Below is the engagement rate formula:
Take the total engagement (likes, comments, shares, reactions, etc.) and divide by the number of posts, divide by your total number of followers, and multiply by 100.
If you would like to do the past 30 days, follow the same process above, and instead of doing every image, just do the past 30 days.
Most social media marketing experts agree that a good engagement rate is between 1% and 5%.
This metric measures how many people see your content. A high reach means more people are seeing your content, thus more potential customers or clients. There are two different types of reach: organic and paid.
- Organic Reach: people who see your content from your original page, not sponsored or paid advertisement posts.
- Paid Reach: people who see your content from paid content like ads and sponsored posts.
According to Influencer Marketing Hub, here are the average social media post reach percentages:
- Facebook: 5.2%
- Instagram: 20%
- Twitter: 3.61%
- LinkedIn: 13%
Lead Conversion Rate
This metric measures how often users are converting into leads after seeing your content. To calculate your lead conversion rate, divide the number of leads by the number of impressions. Conversion rates will vary from company to company, but generally, a successful conversion rate is around 2-5%. This means that 2-5% of people clicking on social media advertisements go to the website and perform the desired action.
Click Through Rate (CTR)
This metric measures how often people who see your content click on a link to your website or blog. A high CTR means that more people are interested in what you have to say and are more likely to visit your site or make a purchase. On average, anything between 3-5% is a good range.
By tracking these three key social media metrics, you can ensure that your social media campaigns are effective and driving results for your business.
Symboliq Media is a marketing and design agency specializing in web design, development, and SEO practices. We are always up to date with the latest trends and strive to help our clients be seen and heard online. If you need to improve your social media KPIs, contact us!