Measuring the success of your social media marketing efforts is an essential aspect of any marketing strategy for businesses on the Northern Beaches. The ability to track performance and determine what's working and what's not is critical in making informed decisions that can drive results and authentic growth for your business.
But with so many metrics to choose from, it can be challenging to know where to start.
That's why the team at Grab Social have taken time to break down some of the most important metrics you should be tracking to measure the success of your social media marketing efforts.
Arguably the cornerstone of measuring social media marketing success is engagement. Engagement refers to the number of likes, comments, shares, and other interactions that your posts receive (how much users are interacting and 'engaging' with your content).
It's a great way to gauge the level of interest and connection that your followers have with your brand. A limited amount of engagement relative to your amount of followers may indicate the need for a revamp of your content strategy. Check out our article on attention grabbing content for some ideas!
Social media marketing, especially in reference to SME's on the Northern Beaches is about building a 'personal' relationship with potential customers and clients who display the value of such a relationship through engagement.
Reach refers to the number of unique individuals who have seen your posts over a certain period. This metric is crucial because it helps you determine the size of your audience and how well your content is resonating with them.
The aim should always be to periodically grow your reach, as with higher reach your page is more likely to gain greater follower growth and long term engagement. Perhaps you've built a very high amount of followers, but declining or stagnating reach suggests that the platform is not seeing adequate value or consistency in your content, thus withholding it from new users.
Another critical metric to track is the amount of traffic your social media accounts are generating for your website. This metric helps you determine how effectively your social media efforts are bolstering your website and actually converting followers into customers. You can track this metric using tools like Google Analytics or your website's built-in analytics.
The best social pages will be able to actively grow a following which is both engaged with their content and their business.
4. Conversion rate
The conversion rate is the percentage of people who take a specific action, such as making a purchase or signing up for your newsletter, as a result of your social media posts or ads.
Typically the conversion rate would only be considered when producing and developing strategy for paid campaigns, but it can also be measured for organic content such as a 'sign-up' post whereby you may consider the reach against the actual sign ups achieved.
Particularly for businesses on the Northern Beaches, and especially those with lower margin for excess expense it is critical that social campaigns convert at a profitable level. Here's a great article on creating social media ads that convert.
5. Brand mentions
Tracking brand mentions is a great way to gauge the impact of your social media marketing efforts. This metric refers to the number of times your brand is mentioned on social media, whether in a post, comment, or direct message.
If users and other pages are mentioning you in their own content, this is almost a level of 'golden engagement' suggesting that your output is valuable enough not only to follow but freely promote by others.
These are just a few of the most important metrics you should be tracking to measure the success of your social media marketing efforts. By tracking these stats regularly, you can gain valuable insights into your audience, the performance of your content, and the impact of your digital output.
If you need help getting started with developing and measuring your social strategy, at Grab Social we have the expertise and tools to help you achieve your business goals.
Email us at firstname.lastname@example.org or schedule a call through our website.
Digital Marketing Strategist