If you’re like me, you might manage dozens of social media accounts for clients. Each has its own objectives and strategy to support business goals. It can get confusing.
Is there a way to determine which key performance indicators (KPIs) should be tracked based on my client’s goals? Yes!
But I manage only my accounts. Will these still work?
Yes, it works for small business owners too. Keep in mind, however, the account your tracking must be a business account, not a personal account, or you may not be able to access analytics.
When and Which?
Download the Social Media Key Performance Indicators and When You’d Use Them chart to help you identify the metrics you would use based on the social media account’s goals and objectives. This chart also includes the formulas to calculate KPI metrics manually.
Example
Business Goal = Increase leads by 10 percent annually. The social media strategy options might include:
- Create landing pages for downloadable content
- Drive traffic to landing pages with organic and paid social media efforts, reach out to influencers, use relevant hashtags
- Develop webinar series with registrations
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- Create content for the series, offer promotions for current clients, create a unique hashtag, use paid and organic social efforts
- Measure results of downloads and registrations
- Review website analytics and social media analytics
To measure success, consider these KPIs for both social media and website landing pages:
- Conversion Rate
- Click-thru Rate
- Bounce Rate
- Cost-Per-Click (CPC)
- Cost-Per-Thousand (CPM) alternative
- Social Media Conversion Rate
- Website landing page conversion metrics
Example
Business Goal = Increase brand awareness by 20% for an annual event. The social media strategy options might include:
- Unique Hashtag
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- Track the number of mentions for the hashtag
- Connect with influencers who’ve participated before
- Ask them to post on your page about their experience, and use the new hashtag
- Measure results
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- Review website analytics and social media analytics
To measure success, consider these KPIs for both social media ads and website landing pages:
- Post Reach
- Impressions
- Audience Growth Rate
- Social Share of Voice
- Website landing page audience metrics
Keep in mind, if you’re creating business goals and social media is a tool you use to meet those goals, measuring its effectiveness is not only good business, it’s smart strategy.
If you need help with your social media efforts, give us a call. We can help you out.