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!