Did you know that there are an estimated 5.17 billion social media users worldwide in 2024? That’s more than 60% of the world’s population! With this many active users, the potential for businesses to reach and engage their audiences is unlike ever before. But there’s more to social media than just having an online presence. Knowing the right metrics to measure and what to do with that information is essential to make a difference.
We believe that you can turn social media into a powerhouse for your business, and we’re breaking down six of the most important metrics to help you maximize your strategy.
Engagement Rate
Engagement rate goes beyond the number of followers your social media accounts have gathered; it directly connects you to those followers and fans. “Engagements” on social media are the number of likes, shares, comments, saves, and reposts. If you’re seeing a relatively high engagement rate, that means that your audience is interested and involved in your content! Posts with higher engagement rates are more likely to be seen by more people.
Click-Through Rate (CTR)
The click-through rate on social media is crucial to knowing how your content is driving audiences to your website or landing page. Higher CTRs mean your audience wants to learn more about either the products you offer or the services you provide. It means that not only is your content engaging, but it is also an element in which customers take the next step in their buyer’s journey. Using engaging content alongside informative and persuasive landing pages is an excellent way to convert interested users into paying customers.
Reach and Impressions
Although they’re often confused, reach refers to the size of your potential audience, while impressions give an insight into how often your content is being seen. High reach and impressions mean that your content is being seen by a wider audience, which means your brand’s visibility and recognition get a nice boost!
Audience Growth Rate
Your audience growth rate measures the rate at which your followers increase over a specific amount of time and a great general look at profile growth! As your audience grows, so do your influence and potential customers. The audience growth rate is also a great way to reflect on how your social media strategies have been working to capture new users.
Conversion Rate
The conversion rate is one of the big “win” metrics. This number shows how many people take the desired action after clicking on the content you’ve created – no matter what the action is. If they make a purchase, join your newsletter, or download a resource, that goes to your account’s conversion rate. High conversion rates show that your social media strategies are effectively driving sales and helping you reach your business goals.
Customer Sentiment
We cannot read our audience’s minds, but through customer sentiment tracking, we can get an overall idea of their emotions. Customer sentiment allows you to understand how your audience feels about your brand based on the social media interactions you’re taking part in. A positive sentiment highlights customer satisfaction, while a negative sentiment highlights areas your brand can improve! Customer sentiment tracking is a great way to proactively address issues and improve your brand’s reputation.
When it comes to marketing, knowing what information to look for is the key to social media success. Following the right metrics allows you to turn data into action with strategies to boost your brand, engage and grow your audience, and drive conversions!
Take control of your social media and contact our team today to get started.