Focusing hard into your business means using tools that drive traction. Social media is a great example of an instrument that has continued to evolve over the years. Learn more in our latest blog!
Focusing hard into your business means using tools that drive traction. Social media is a great example of an instrument that has continued to evolve over the years. According to Global Demographics, the USA has 302.35 million social media users as of 2023—meaning that 90% of the population actively uses social media. It challenges entrepreneurs to capture the attention of audiences, build brand visibility, and generate leads. However, for it to be effective, you need to understand which metrics matter the most to your business goals.
Metrics & Marketing
Social media metrics are the data points that show you how well your social media strategy is performing. They allow you to track almost every detail down to how many people see your content and up to how much money you earn per strategy. Metrics are the building blocks for your business’s ongoing improvement and growth.
But first, you need social media marketing that works for you to gain those followers. Social media marketing is described as the process of using different social media channels to promote and sell brand services. This type of marketing can improve businesses in many aspects like building engaged communities, measuring brand sentiment, pushing awareness, and adjusting according to strategies. Creating a social media marketing strategy is the next step. It is usually an outline that lists your media goals, tactics used to achieve them, and the metrics needed to track your progress. Once you’ve defined the roles and responsibilities required to attain a regular cadence, brand awareness is where you need to focus further.
Brands clarify what a company stands for and why it does what it does. They are an effective way to communicate vision through images, stories, and shared experiences. Ultimately, a brand is the sum of how a product or business is perceived by those who experience it—including customers, investors, employees, and the media—and becomes the process of shaping these perceptions. Brand awareness is the measure of how well your products are recognized. Strong brand awareness means your business is at the top of mind when people think about the category of products you sell.
And…that brings us back to metrics! When you have cultivated a firm foundation for your brand through awareness, strategy, and marketing, your social media metrics become the best way to track your business. So let’s look at how to track some of the most advantageous ones.
Which Social Media Metrics to Track?
1. Audience Growth Rate measures how many new followers your brand gets on social media in a certain period. This is just a percentage of your total audience, not count of your new followers, but it can also be used to track the progress of your competitors!
To calculate—take your net new followers over your desired period and divide by your total audience—then multiply by 100.
2. Average Engagement Rate measures the interaction level between your posts and your audience (reactions, comments, or shares), but not as simply as you think. How you define your audience might vary.
To calculate—add your total interactions on a specified number of posts and divide by your number of followers—then multiply by 100.
3. Virality Rate measures how much our content is shared, but specifically when it achieves a fresh set of impressions—so how your content spreads exponentially rather than gradually. It can also be seen as the number of unique views vs. the number of people who share your post.
To calculate—take the number of shares and divide by unique views—then multiply by 100.
4. Bounce Rate measures the number of people who click on a link in your posts then quickly move away. A low bounce rate means that you are targeting the right audience and see what kind of return on investment you’re getting.
To calculate—take the number of total visitors who left your webpage without interacting and divide by the total visitors to your webpage—then multiply by 1000.
5. Click-Through Rate measures how often people click a link from your site to access additional content such as a blog post, online store, or for a service. These people want to know more about what your business offers. Measuring this indicates how well your content is ranking.
To calculate—take record of a post’s total linked clicks and divide by the number of impressions or people who saw the ad—then multiply by 100.
6. Cost-Per-Click Rate measures how much you pay for individual clicks on social media advertisements. It shows you just how much you are spending on marketing to figure out if your ads are worth the money you invest.
To calculate—take the total amount you spend on ads and divide by the total measure of clicks on the specific ads you want to calculate—then multiply by 1000.
These are just a few metrics out of the hundred you can examine for your business. Without metrics you cannot link social media with your informed business goals and prove your success. If you are unsure of how to conquer the vast world of social media, then check out our experts at Treebird!
Treebird’s Metric Success
As you know, everyone’s crazy for social media, but when it comes to figuring out social media marketing, suddenly the room gets very, very quiet. Fortunately, we think we have solved a good part of the social problem with our Social Media Partnership. In the past, we may have handed off troves of content to a client, only to have that content not be used to its fullest potential. Or, a client would hand the content off to another social media group who had no hand in developing it and, once again, missed out on fully bringing it to life.
Now, we plan out your whole social media for the entire month. Since we’re the masters of social media marketing content, we know just how to get the most out of it, and we make your life easier by not having to figure out what to post where each day.We monitor each post from conception to creation and answer questions about posts in real time. We keep a close eye on your accounts and get you involved only when it's urgent. We hope our Social Media Partnership makes your lives easier, frees up your time to do what you want to be doing, and helps out your bottom line.
When you choose Treebird as your social media agency, you get a focused design that captures what’s unique about your business and speaks honestly to your target audience. Take a look at our credo and contact us for more information!
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