Choosing which social metrics you will follow can be a difficult choice. Part of the challenge lies in the fact that sales are not directly influenced by social media interactions, but they definitely help. Since following the numbers spit up by Facebook and Twitter is an inexact science, social media marketing comes down to following the most important numbers and understanding why it is happening.
We are providing you with the metrics our company has found to be the most important. It is up to you to use those numbers to improve audience interaction.
1. Influence Score. Knowing your number of subscribers can be helpful. Audience size does positively correlate with business success but some subscribers are more vital than others. This metric tells you how influential someone is on a social media site. In other words, if Michael Jordan tweets about your product, more will listen than if average Joe tweets.
2. Audience Share. This is the percentage of your target market your brand reaches when compared to competitors.
3. Voice Share. This is how much of the conversation you have, as compared to competition.
4. Amplification Rate. The more your posts are shared, retweeted, and reposted, the more your voice is amplified.
5. Applause Rate. This metric records how many people enjoyed any given post, or number of posts over a time period, by measuring the number of likes, favorites, and other favorable actions.
6. Virality. Virality increases the faster the content is shared throughout different social media sites. This is a great way to measure how successful your online marketers are at reaching customers.
7. Bounce Rate. When customers visit your landing page then immediately click back, that is called “bouncing.” The higher your bounce rate, the less engaging your landing pages are. A high bounce rate will also hurt your SEO ranking.
8. Sessions. The “session” metrics judge interactions between you and your web traffic. If multiple people visit your website because of a Facebook post, that is considered a session. The duration of the session can also be judged. This can be very helpful when hosting online events, webinars, or sales.
9. Conversion Rates. This metric looks at how many conversions are made within a time period, as well as the going rate of conversion based on number of customers.
10. CPA. Important to marketing, you need to know how much it costs for your marketing and advertising teams to land new leads.