For any business, the best way in today’s world to get connected to customers and prospective customers and to continuously engage with them is social media.
At the same time, it is very important to make sure that your social media efforts are making positive impact on your business goals.
You need to closely monitor your social media data to analyze and measure your key performance indicators (KPIs). It will help you understand whether you are making the right decisions and if not, make changes in your social media strategy.
Based on your business goals, the kind of KPI that you need to track would be different.
Following are 4 of the most important KPIs you need to track to see if your social media efforts are on the right track.
Engagement – Engagement is the most important KPI to track if you are in the awareness stage of your product or service.
How people are engaging with your social media content with their likes, comments and shares shows how productive your social media efforts is.
If you are getting more engagement it means that people are accepting your content and it has the quality to attract people.
People spending time to comment on your social media posts means that they are interested in your product or service.
If people are engaging with your posts with comments then it is the best place to receive feedback about your products.
Reach – Your social media messages have the chance to get engagement with your customers and prospective customers only if you can connect with the right people.
You need to identify your target customers and try to reach them with your social media posts.
Your social media profiles need to reach the maximum people by gaining more followers.
Reach is a KPI that needs close monitoring and you need to clearly identify how many visitors are coming to your website or finding your phone numbers from the posts you have shared in your social media profiles.
Return on Investment (ROI) – The revenue that you got from the people who have purchased your products or availed your services as a result of seeing and engaging with your social media posts is an important KPI to track.
If your ROI from social media posts are not huge, then it certainly means that you have to change your social media strategy.
How many customers you got through social media posts, how many leads you got from them are both important metrics to consider.
Retention and loyalty – Your loyal customers are those who would act as an advocate of your products and services.
Closely monitoring people who share your content with their social media friends show the loyalty value of your social media efforts.
You must not only create social media profiles and share posts, but you must also closely monitor the value you are getting from those social media profiles.
Keeping track of the social media KPIs can help you see if your social media efforts are helping you achieve your business goals.
Digital marketing India team of Calpine Group has been helping businesses to create and manage social media strategy. Contact us for more details.