Social media metrics and the power of digital marketing

Digital360 on 25 July 2017

If you aren’t a digital specialist, social media reporting can be tricky because there are so many metrics to consider. Social media is used by most small to medium sized enterprises (SMEs), but will be customised to suit an industry and the objectives – a plumbing company, for instance, will have vastly different social media targets to a cosmetics company.

However, most SMEs will be interested in two main areas of social media reporting: first, there is audience engagement, and second, there is PPC marketing performance and campaign results. To help, we’re taken these two areas of social media marketing and broken them down into more manageable bites.

But first, what are social media metrics and how are they important? Social media metrics are collected to gauge the impact of social media on a business’s revenue. It’s important that you and your chosen agency are tracking social media performance to ensure you're getting a return on your investment.

Measuring social media engagement

Not all social media is focussed on the 'hard sell'. In many industries, there is a long sales cycle that requires trust to be built with a target market. Or perhaps the business relies on engaging loyal customers for repeat sales. In these instances, audience engagement on social media is important.

If audience engagement is your business objective, below are some of the engagement metrics that you or your social media agency should be assessing. Depending on the social media platform, some of these metrics may not be available.

  • Actions on Page – The number of interactions with your business information, such as contact information and call-to-actions.
  • Page views – The number of times your Page has been viewed by social media users.
  • Page Likes/follows – How many users have connected with your business by Liking or following your Page. This is an indicator of how large your audience reach is on social media platforms like Facebook.
  • Page reach – Indicates how many people viewed your Page's content in their feed. This is an indicator of how popular your Page content has been over the reporting period, broken down by both paid and non-paid reach.
  • Post engagements – Indicate whether your digital marketing efforts are effective. The higher the engagement, the more relevant it is to your target audience. Engagements can be anything from a reaction to a comment, a video view, or a claim to an offer.
  • Post frequency – Indicates how often you are posting content. It is important that your audience is exposed to regular, relevant and interesting content so that your other metrics, like engagement, remain high.
  • Most popular posts – Popular posts reveal the content that suits your audience. The goal is to increase audience engagement, so you want to identify the posts that are provoking the most responses.
  • Conversions – One of the most important metrics in social media marketing. This data may be extracted from tools such as Google Analytics. If you have a high conversion rate from social media channels, then you know that your investment in social media is delivering an outcome.

Measuring PPC performance and campaign results

While social media is great for engaging customers, it's also an excellent platform for paid promotion and advertising. These campaigns will have objectives directly focussed on driving short term business outcomes, such as sales.

Below are the metrics most important to a social media PPC marketing performance report.

  • Details of campaign performance – Business owners and managers should be aware of the who, where, when, what and how of key ad campaigns for the month.
  • Budget allocations for each campaign – This will make clear the cost of each click and determine whether these are in line with expectations or benchmarks.
  • Overall spend on digital marketing – Digital marketing is not the only channel SMEs will explore. It is important to compare all aspects of a company's marketing budget to gauge which marketing channel is performing best.
  • Campaign reach –How many of your target audience is seeing your campaign and how frequently.
  • Conversion rate – The number of users that have taken a desired action as a result of the campaign.
  • Prospective campaign ideas – The agency may also include an analysis of what campaign tactics have been working, and what should be improved for future campaigns.

Getting a complete picture

Digital marketing reports are important to your business. Without reliable reports, you cannot measure the performance of your digital marketing and whether your current strategy is generating value for your business. By keeping track of the social media metrics, business owners and managers are in a much better position to determine ROI.

But social media marketing is only one part of the digital marketing landscape. If your strategy is focussed on driving sales through your website, you may also need email marketing and SEO services, too. These services have different goals and reporting metrics. But by integrating your social media marketing with your wider digital strategy, your business can experience accelerated results.

Looking to learn more about social media marketing? Contact a social media specialist today.