In order to determine the ROI of your social media activity, you need to be able to track its effectiveness and find new areas where you can improve. You can access your analytics to get access to various insights on your followers, as well as your content performance.
These are the key metrics to track:
• The number of people who regularly engage with you
• The number of new leads from social media
• The engagement on each of your posts
• The number of clicks to your website from social media
• The potential reach of your posts
• The number of people who see your posts
• The number of new followers or likes acquired
High levels of engagement
Engagement rate factors in all of the ways that followers can interact with your account, including replies, mentions, re-tweets, favorites and link clicks.
A high engagement rate shows that users are interested in your content and love engaging with your brand, which will more likely lead to increased traffic to your website and purchases of your products.
Increased community growth
Keep an eye on follower trends over a specific period. Spikes in follower growth will likely be tied to specific actions, such as engaging with influencers, posting a particularly relevant piece of content or engaging in a particular trend. This can help you identify what you should spend more time on and what you should do more consistently.
A consistently increasing growth rate means that you are delivering value on a regular basis. However, daily spikes mean that there’s plenty of room for improvement.
High levels of traffic to your website
This is the best indicator that your content strategy is working. When your users want to engage with you on other platforms, they will be more likely to return to your website and purchase your products. If you use Google Analytics, you can use the Social report to track the amount of traffic to your website via social media, as well as which content drove the most traffic.
Increased impressions and reach
Impressions and reach is based on the size of your followers’ audience. An increase is an indicator of having high-influential followers, who will amplify your message to their audiences.
Follower quality and influence
A low-quality audience is unlikely to engage with your content, visit your website or purchase your products.
However, a highly influential audience will help share your message, recruit new followers and become loyal champions of your brand.
You don’t need thousands of followers, as long as the followers
you do have will help you build a successful business.
High conversion rates
When your efforts on social media drive your followers to take action on your website, such as sign-up for your mailer, or purchase your product, whatever your objective may be, your strategy is a success.
Need help measuring the ROI on your social media activity? Leave a comment.