Did you know that 58.7% of the world’s population is on social media? So, it’s unsurprising that social media is the go-to for every small business owner. But, most of them don’t realize that not all social media strategies work.
What works for one business won’t always work for you. Similarly, what works today isn’t guaranteed to work tomorrow. This makes social media marketing metrics essential tools for business owners. They’re building blocks for marketing improvement by showing you how strategies perform.
Not sure what these metrics are and what they signify? Read on as we explore some of the key metrics every business owner should know. You don’t have to do all the work yourself. Here is the list of agencies that work with social media marketing in dubai.
Social Media Engagement Rate
Social media engagement is an umbrella term encompassing clicks, likes, shares, and comments. Most social media platforms will give you a breakdown of your engagement rate.
However, it’s important to note that social media platforms use varying naming conventions. For example, a share on Instagram is a retweet on Twitter. Despite their differing names, they signify the same thing – your audience’s responsiveness.
So, your marketing efforts should focus on maximizing the engagement rate. You can use sites like like4like.com to increase engagement with your content.
Business owners often confuse impressions with reach, but the two are different. Reach measures the number of people who see your content, whereas impressions measure the number of times they see it.
Assessing impressions allows you to identify content that resonates with your audience. After all, a person may view your content multiple times. That means that your impressions could show a higher number than your reach.
Share of Voice Rate
It’s a measure of the number of people talking about your company about your competitors. Calculating this metric takes effort as you also assess your competitors’ mentions.
To calculate, divide your business’ mentions by the total industry mentions. Then, multiply the number by 100 to get a percentage share of voice. A high percentage indicates your audience interacts with you more than your competitors.
Audience Growth Rate
This is one of the best yet most miscalculated social media KPIs. Many business owners confuse the audience growth rate with new follower counts. But the former isn’t as straightforward as the latter.
The audience growth rate measures new followers about your total followers. To calculate this metric, first, decide on a specific reporting period. Then divide your new followers by your total followers and multiply by 100. That’ll give you an accurate measure of your brand awareness efforts.
The click-through rate measures your audience’s curiosity. It looks at how often your audience clicks on links in your posts to access additional content.
Divide the number of clicks on a post by its total number of impressions to determine this rate. Then, the percentage is calculated by multiplying by 100. It’s an excellent measure of how well your marketing efforts promote your offerings.
Leverage Social Media Marketing Metrics to Boost Brand Awareness
Marketing is a vital part of business ownership. These social media marketing metrics will help you improve your strategies. They show you how you’re performing now, so you know what to focus on and how to improve.
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