List of 18 Crucial Social Media Metrics

Utilizing actual data to assess the influence of your social presence on the success of marketing campaigns and, ultimately, revenue, is the crux of tracking social media metrics. It enables you to assess the success of your social media marketing initiatives and identify areas for improvement.

While social media metrics are crucial, it can be challenging to identify the ones that matter most for your company.

We’ve listed 18 crucial metrics and explained how to track them as a result. You can gain knowledge from these metrics about your brand’s exposure, audience behavior, and conversions in order to make future marketing decisions that are more based on data.

Let’s start now.

Taking the social media funnel apart

Let’s dissect the social media funnel to determine where each metric fits before outlining the most important social media metrics.

There are four main stages to a typical social media customer journey:

• The awareness stage: These metrics display your current and potential audience.

• The engagement stage: These metrics demonstrate how your audience engages with your posts.

• The conversion stage: These metrics demonstrate the success of your social engagement.

• The consumer stage: Metrics in this stage show how current customers perceive your company.

There are specific metrics and KPIs for each stage of the social media funnel that demonstrate the effects of social media marketing on company expansion.

Social Media Metrics: Awareness

These metrics show your audience both now and in the future.

1. Brand recognition

The amount of attention your company receives each reporting period across all social media platforms is known as brand awareness.

Many metrics, such as impressions, shares, mentions, and links, can be used to measure brand awareness. Reporting intervals also vary. It can last up to a quarter, but some last a week, others a month.

How to find out

• Select the attention metric(s) you’ll use to gauge brand awareness.

• Decide which reporting period will be used for your brand.

• Track every time your brand is mentioned on social media, with or without a @, using a brand monitoring tool

2. Audience expansion rate

The audience growth rate describes how quickly followers for your brand are gained (or lost) on various social media platforms.

Brands will gain more followers as more people join social media platforms.

How many new followers did we gain last month, however, is not a question you should be asking yourself. Instead, consider how quickly you attracted followers the previous month and whether you did so more quickly than your rivals.

How to find out

• Total the net number of followers you gained across all of your platforms during the reporting period.

• Multiply your new followers by the sum of your existing followers (on each platform).

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Say 10,000 people followed your brand’s Facebook page in June (end of Q2). You must calculate the audience growth rate for Q2 between July 1 and September 30. If you have 12,546 followers as of September 30th, your audience growth rate for the third quarter is 25.46%. (approx.)

Note: You can use the same method to monitor the AGC of your rivals.

3. Post Reach

The number of people who have seen your post since it went live is referred to as post reach (even if they see it multiple times).

Your reach is still only 1,000, for instance, if each of your followers sees your post three times.

Timing (i.e., when they are online) and your content have a direct impact on this metric (i.e. the kind of posts they love).

How to find out

• Calculate a particle post’s reach.

Subtract the reach from the total number of followers you have. In order to calculate your post reach percentage, multiply it by 100.

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The “When Your Fans Are Online” feature on Facebook will let you know the best time to post. By posting then, you can reach more people.

4. Potential reach

The number of people who might see a post over a certain period of time is known as the potential reach.

For instance, if one of your followers shared your post with their network, the post’s potential reach will also include between 2 and 5 percent of that follower’s followers.

Because you should always try to grow your audience as a social marketer, this metric is crucial to track. You can gauge your progress by being aware of your potential reach.

How to find out

• Track brand mentions using a brand monitoring tool.

• Determine how many followers the account or accounts that mentioned your brand have.

• Multiply these two figures will give you your theoretical reach, or the number of people who could theoretically see brand mentions of your company.

About 2-5% of your actual reach is your potential reach.

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5. Social voice share

Social share of voice (SSoV) counts the number of times your brand has been mentioned on social media in comparison to that of your rivals.

Two categories of SSoVs exist:

• Direct tagging your posts with @resolute, for example

• Indirect – using your brand name without a tag, such as “Resolute”

SSoV essentially assesses the market visibility and relevance of your brand. You can decide whether or not to update your social media strategy by knowing this metric.

How to find out

• Track each and every mention of your brand on social media, both direct and indirect.

• Track the mentions of your rivals during the same time period.

• To obtain the total number of mentions in the industry, add your mentions to those of your rivals.

• To calculate the SSoV percentage, divide the number of brand mentions by the total number of industry mentions.

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Note: Make use of social media analytics tools to simplify this process.

Social Media Metrics: Engagement

These statistics demonstrate how viewers engage with your content.

6. Applause rate

The number of approval actions (or “applause”) a given post receives in relation to the total number of followers you have is known as the “applause rate.” These include thumbs-ups, favorites, and other like actions.

A follower who commends your post is acknowledging its importance to them. Knowing the proportion of readers who value your content can help you decide what kinds of posts to publish.

How to find out

• Total the number of approvals a post received overall during the reporting period.

• Multiply that amount by all of your followers. To calculate your applause rate percentage, multiply by 100.

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To streamline the process, track approval actions using a social media impact tool.

7. Engagement rate on average

The percentage of your audience as a whole who interacted with your content during a reporting period is known as your average engagement rate.

A higher engagement rate indicates that your audience enjoys your content, making this metric crucial. Track the interaction rate for each of your posts to be sure. The actual number of likes, shares, and comments is meaningless if the rate is high.

How to find out

• Total the likes, comments, and shares for your post.

• To calculate your average engagement rate, multiply the result by 100 and divide it by the number of followers you have.

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Every social media platform has a unique benchmark for this metric, so be aware of this.

For instance, engagement rates on Facebook and Twitter are lower (0.5% to 1%). Instagram, however, has engagement rates that range from 3 to 6 percent.

8. Amplification rate

The average number of shares you receive for each post is known as the amplification rate. The Google Digital marketing evangelist and term’s creator, Avinash Kaushik, defined it as “the rate at which your followers take your content and share it through their networks.”

Your audience is more likely to affiliate with your company if your amplification rate is higher.

Your amplification rate may be determined by metrics like Twitter retweets, LinkedIn shares, Pinterest repins, etc., depending on the social networks you use.

How to find out

• Total the number of times your post was shared during a reporting period (such as retweets, Instagram shares, repins, and shares).

• Your amplification rate percentage is calculated by dividing that figure by the total number of followers you have and multiplying the result by 100.

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9. Virality rate

The ratio of people who shared your post to the total number of impressions it received over the course of a reporting period is known as the virality rate.

More factors contribute to virality than just likes and shares. For instance, a post with 30,000 likes might only get 0.2% virality, while a post with 5,000 likes might get 8.94%. Actually, the second post is performing better in this instance than the first.

How to find out

• Figure out how many people saw your post.

• Calculate the shares for your post.

• Subtract the share count from the impression count. To calculate your virality rate percentage, multiply by 100.

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Social Media Metrics: Conversion

These metrics demonstrate the impact of your social engagement.

10. Conversion rate

The conversion rate is the proportion of users who visit a page after clicking a link in your post and then complete the desired action to the total number of users who visit the page.

These actions can include downloading content that is password-protected, signing up for a newsletter or webinar, etc.

A high conversion rate suggests that your audience values the information you provide. It signifies on social media that your post was consistent with the offer you made.

How to find out

• Post a link that includes a call-to-action (CTA) button. To track the link, use a URL shortener.

• A “cookie” will be placed on the user’s device. As a result, the lead is linked to the campaign.

• Monitor the total number of clicks and conversions the post brought in using the campaign reports.

To calculate your conversion rate percentage, divide the conversions by the total number of clicks and multiply the result by 100.

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It should be noted that traffic and conversion rates cannot coexist. Even with little traffic, a post can still have a high conversion rate.

11. Rate of click-through

The click-through rate (CTR) measures how frequently readers of our posts click on the CTA link.

Contrast this metric with engagement behaviors like likes and comments. A CTR is connected to a link that directs users away from the social media platform they are currently on to another page.

You can gain priceless knowledge about how relevant your offer is to your audience by regularly tracking CTR. A low CTR indicates that your offers aren’t being well received by your audience and vice versa.

How to find out

• Count the total number of times a post’s link has been clicked.

• Calculate the post’s overall impressions.

To calculate your CTR percentage, divide the number of clicks by the number of impressions and multiply the result by 100.

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Keep track of your impressions and clicks during the same reporting period.

12. Click-through rates (CPC)

The cost-per-click (CPC) is the sum you pay for each time a reader clicks on a sponsored post.

Don’t focus on the total amount you spent when running ads on social networks like Facebook, Twitter, Instagram, or LinkedIn. Pay attention to your CPC instead. It will assist you in determining whether or not your investment is producing positive returns.

How to find out

• Determine how much your social media campaign will cost overall.

• Subtract the number of conversions you received from your total costs.

For instance, your CPC is RM2500 if you spend RM10000 and receive four conversions. It is safe to say that your investment is not producing a good return on investment if your profit is RM1750

Note: The Ad Manager for your platform is another place to find your CPC. Make sure to frequently check the Ad Manager.

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13. Cost per thousand impressions (CPM)

Every time a thousand people scroll past your sponsored post, you must pay a cost per thousand impressions (CPM).

A CPM post does not really elicit action, as opposed to a CPC campaign. It only produces perceptions and views. CPM is a quicker and less expensive way to split-test your content, so do it that way.

How to find out

The Ad Manager on your platform allows you to track your CPM as well. Make sure to frequently check it and avoid leaving your CPM campaigns unattended for an extended period of time.

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14. Social media conversion rate

The percentage of all conversions that you receive from social media is known as the social media conversion rate.

You can gain important insights into the efficacy of each post in your social media campaign by tracking this metric. It reveals how well your offer(s) are received by your intended audience.

How to find out

• To make your CTA link trackable, use an online URL shortener.

• Compute your total number of conversions.

To calculate your social media conversion rate, divide your total conversions by the number of conversions from social media and multiply the result by 100.

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15. Conversation rate

The number of comments per social media post to the total number of followers you have is referred to as the “conversation rate.”

This metric, which was also developed by Avinash Kaushik of Google, allows you to track comments in context. If you only have 150 followers, getting an average of 15 comments per post is exceptional.

Understanding your conversation rate will enable you to determine whether the social media content you share is compelling enough to result in a conversion, which is the central purpose of any social network.

How to find out

• To find out how many people commented on your posts during a reporting period, use a tool like Hootsuite Analytics.

• To calculate your conversion rate percentage, divide the number of comments by the total number of followers you have, then multiply the result by 100.

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Social Media Metrics: Social Customer Service

These metrics demonstrate the opinions of your current customers about your company.

16. Testimonials from clients

Customers’ comments, reviews, assessments, or endorsements of your brand, whether favorable or unfavorable, are referred to as customer testimonials.

Customers are more likely to recommend your business to others if they are pleased with your offerings and brand.

A steady stream of sincere recommendations on social media will increase your brand’s visibility while fostering credibility and trust among your followers.

Here are some strategies for obtaining more client endorsements:

• Directly request reviews of your services from your best clients. However, don’t offer to pay them back because that would undermine your credibility.

• Launch a social media campaign to persuade users to leave written, online, or video reviews of your goods or services.

• Include a link to your Google My Business review form in your posts or social media bios to make it easier for your customers to leave testimonials.

17. Score for customer satisfaction (CSAT)

A metric called customer satisfaction (CSAT) lets you know how pleased customers are with your good or service.

What is your overall rating of satisfaction with this product or service? This is typically how the CSAT score is calculated.      

You solicit customer feedback by giving them a scale of 1 to 10 or a heartfelt sentiment (Poor, Fair, Good, Great, Excellent). Particularly on social media, this scale is simple to use and understand.

How to find out

• Develop a social media CSAT survey.

• Add up each score’s digits.

To calculate your customer satisfaction score, divide the total by the total number of respondents and multiply by 10.

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18. Net promoter score

A metric called net promoter score (NPS) gauges how devoted your customers are to your brand.

NPS allows you to forecast future customer engagement with your product, unlike CSat. Simply ask respondents how likely they are to tell a friend about our [brand/product/service].

Customers are then asked to rate your question on a scale of 0 to 10. You classify the respondents into one of three categories based on their responses:

Detractors: 0 – 6

Passives: 7 – 8

Promoters: 9 – 10

NPS is unique in that it measures both customer satisfaction and future engagement, which is why businesses of all sizes find it to be so valuable.

How to find out

• Create a social media NPS survey.

• Subtract the quantity of critics from the quantity of supporters.

To calculate your NPS, divide that figure by the total number of respondents and multiply the result by 100.

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Although readily available, vanity metrics have little bearing on the expansion of your business. However, the metrics listed above enable you to track information that actually affects how well your marketing campaigns perform.

To obtain these figures, you’ll have to put in more effort, but the effort will be more than compensated for.

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