5 Tips to Measure Social Media Marketing Performance

Jan 22, 2024 Reading time : 5 min

Businesses are putting high efforts into social media marketing nowadays, that’s why it is vital to regularly monitor the performance. One straightforward way of measuring performance is to see the analytics of your social media pages.

The number of followers and fans on your account widely shows the performance, but it’s not the metric of good performance in totality.

In this post, we will learn how you can measure the performance and effectiveness of your social media marketing strategy.

You must know the requirements and what exactly you want before diving into the metrics. Every business has different objectives for social media marketing based on their product and services.

Businesses use social media commonly to increase brand awareness, drive traffic, generate leads, foster engagement, improve customer service, etc.

Setting social media marketing goals is much more than getting a few followers on these platforms. So it should be the first step of your social media marketing strategy and performance measurement.

Social media engagement indicates the interaction of the audience with your videos and posts in terms of likes, comments, and shares. Regular monitoring of social media engagement helps you track if your content is resonating with the interest of the audience or not.

After setting the marketing goal, you can measure the engagement from metrics like reach, growth rate, number of followers, mentions tags, etc. The reach of your account shows the number of unique audiences interjected with your content.

It is advised to track monthly reach so that you can make possible changes quickly. For the metric of growth rate, consider checking the ups and dips of your follower growth during the month.

Tip #3: Select Effective KPIs

Key performance indicators (KPIs) set the standard of performance and help you track where you achieved the mark and where you fall short. The following are the major components of an effective KPI:

Goal Alignment
Attainability
Substance
Quantifiable and Measurable
Actionable

It is vital to choose an effective KPI for your business’s social media marketing. Following are some of the key considerations that can help you make an effective KPI for your business:

Set Goals: Knowing what you want to achieve through social media is the first step of aligning KPI with business goals. Set practical goals so that you can get audiences fast.

Make Goals Measurable: Your social media goal must be specific according to the product or service and quantifiable. It is necessary to measure the cost of each lead and return on investment.

Leverage Trends: KPI must be strategic according to the trends so that you can take the maximum out of the social media trends. If the sales of a product increased from last week because of some trend, then you should start focusing more on that.

Check top social media KPIs important for businesses in 2024.

Tip #4: Track Engagement Metrics

Tracking social media metrics is a valuable action in the measurement of social media marketing performance. These metrics show the number of audience interacting with your content. Here are some of the major social media metrics:

Engagement rate: The engagement rate of your content shows the ratio of likes, comments, shares, and actions towards your product with the total audience.

Virality Rate: Virality rate is the metric of measuring shares and content views as a percentage of total impressions. To measure the virality rate, divide the number of shares by impression and multiply by 100.

Reach: It’s a very basic metric, the number of total people who see your post or video. You can measure the reach of your story, video, and reels both combined and individually.

Video Views: Each platform has different boundaries for counting a view. Usually, most platforms count a video view after watching a few seconds.

Audience Growth Rate: This is the metric of measuring the number of new followers you get in a specific period. It measures the number of new followers in terms of total followers.

Tracking the social media metrics of different platforms is a tricky task. But measuring the data of likes, shares, comments, and audience feedback is very necessary for businesses.

The 2023 State of Social Media Report shows that more than 91% of leaders agreed that leveraging social media data helps in their business success. In this condition, social media monitoring tools help you collect data on your social media account engagement.

There are various effective monitoring tools available in the market. Most platforms offer built-in social media analytics or insights sections where you can access performance data, providing a consolidated view of your social media metrics.

Conclusion

Measurement of social media engagement and performance is not just about trends, it is the need of the hour. Analyzing and knowing the behavior of your target customer will be your weapon in the competitive era of social media.

Regularly monitoring the performance of social media accounts will help you craft better content and get connected to the audience.

In this [post, we discussed the key highlights of measuring social media performance. If you found this article valuable, share it with your friends and colleagues.