Social media KPIs, or Key Performance Indicators, are metrics used to track and measure the success of social media campaigns. By establishing and measuring KPIs, you can evaluate whether your social media efforts are effective and identify areas for improvement.
There are several KPIs that can be used to measure the success of social media campaigns, and the specific KPIs employed will depend on the campaign objectives. However, some common social media KPIs include engagement rates, reach, and leads generated.
Which Social Media KPIs are used in social media reports?
There are a variety of social media KPIs that companies or community managers can track to measure the success of their social media campaigns. Here are some examples of social media KPIs:
- Number of “likes”, comments, and shares on posts
- Number of new followers
- Engagement rate (total interactions divided by number of followers)
- Click-through rate (CTR) on links
- Sales generated from social media
- Cost per lead
- Conversion rate of leads
By tracking these KPIs, you can better understand what works well on your social channels and what needs improvement. Additionally, KPIs can help companies compare their performance against competitors.
Engagement Rates
Engagement rates measure how frequently users interact with content. Content with high engagement rates is more likely to be seen and remembered by users, making it an important metric to track.
There are several ways to calculate engagement rates, but a common method is to divide the number of interactions by the number of followers. For example, if a piece of content receives 100 “likes” and 10 comments on a page with 1,000 followers, the engagement rate would be 10%.
Reach
Reach measures how many people see your content. Tracking reach is valuable because it can be used to gauge the effectiveness of your content and campaigns overall.
A common method to calculate reach is to take the number of people who have seen a piece of content and divide it by the total number of people who could have seen it.
For example, if content is viewed by 100 people and 1,000 people could have seen it (because they follow the account that posted it), the reach would be 10%.
Leads Generated
Leads generated measure how many people take an action after viewing content. This metric is important for businesses because it can be used to gauge content effectiveness in driving conversions.
There are several ways to calculate leads generated, but a common method is to divide the number of people who take the desired action by the total number of people who viewed the content.
For example, if 100 people view content and 10 take the desired action (such as clicking a link or filling out a form), the leads generated would be 10%.
How to Set Social Media KPIs
When setting social media KPIs, it is essential to start by identifying the objectives of the campaign or content. Once objectives are known, the appropriate KPIs can be selected.
For example, if the goal of a social media campaign is to increase brand awareness, reach would be a crucial KPI to track. If the goal is to generate leads, leads would be a valuable KPI.
Once objectives and KPIs are identified, target values can be set. These target values depend on the specific goals and KPIs but should be realistic and achievable. For example, if the goal is to increase reach by 10%, the target value for reach would be 10,000.
How to Measure Social Media KPIs
There are a variety of tools and methods you can use to measure social media KPIs. The specific tools and methods depend on the KPIs being tracked.
For example, engagement rates can be measured with Facebook Insights or Twitter Analytics. Reach can be measured with Google Analytics. Leads generated can be tracked with lead tracking software.
When tracking social media KPIs, it is important to monitor them over time to measure the effectiveness of content and campaigns. For example, if reach increases over time, it is a sign that the content is resonating with the audience.
Conclusion on Social Media KPIs
KPIs are valuable metrics that companies can use to track and measure the success of social media campaigns.
There are various KPIs that can be tracked, and the specific KPIs used will depend on campaign objectives. Some common social media KPIs include engagement rates, reach, and leads generated.
When setting social media KPIs, it is valuable to start by identifying campaign or content objectives. Once objectives are known, the appropriate KPIs can be selected. Once KPIs are selected, setting target values becomes straightforward.
