Of all the social media acronyms out there, “KPI” confuses me the most. This is because "Key Performance Indicator" always reminds you of business people in suits and ties giving PPT presentations.But if you look closely, this word is not complicated. KPIs can be summed up as things that are worth your attention and measurement.Basically, social media KPIs or social media metrics are even the most important metrics for your business as they help you understand how your advertising and strategy are performing.Social media KPIs can be the number of interactions and shares you get on social networks. You can also track clicks to your website through social media, or the conversion rate of users who visit your website through this channel.In fact, there are so many types of social media KPIs nowadays that it is sometimes even confusing to sort them out. In this article, we’ll take a look at the various social media metrics you might be interested in, along with a brief explanation of what they mean and how they’re calculated.First, let’s look at the social media funnelThe social media funnel might be worthy of its own article, but our goal here is to help you understand the journey we see a typical user take when they learn about a product or brand.There are many metrics at each stage of this process. The following are the major categories that this article will focus on.
Activities: What your social media team produces
Reach: Your audience or potential audience
Engagement: People’s interactions with and interest in your brand
Acquisition: Building Relationships
Conversions: Activities, Sales, and Results
Retention and support: Satisfied users and brand evangelists
Here are the details:1. Campaign Metrics: Your Social Media Team’s OutputThese numbers show what you’re doing and how productive your social media team is — publishing blog posts, scheduling, optimizing content, answering questions, and resolving issues. This may seem simple, but it is very important when you are trying new methods. It would be very helpful to be able to determine whether certain activities at this stage can improve the metrics we will mention later.Average response time: The average amount of time it takes a team member or brand representative to respond to a comment or inquiry from a brand’s social media audience.Content production velocity : The amount of content you produce per period of time. Depending on the type of content you focus on, you may want to break it down into categories, including:——Blog posts in each period—— Presentation slides for each period——Videos in each period——E-books in each period——White Papers in each period——Infographics for each period of time——The amount of other content produced in each periodPosting velocity: The number of social media posts per period of time. Depending on the social network you use, you might have the following breakdown:——Number of tweets per time periodNumber of Facebook posts per period——Number of LinkedIn updates per period— Number of Google+ updates per period—Number of Pinterest pins per time period——Number of Instagram posts per period——Number of forum posts per period——Number of other social media content posted in each periodPost topic composition : The percentage of various content topics (e.g. resources, offers, blog posts, etc.) posted on each social media channel during each period.Post type composition: The percentage of each content type (e.g., images, links, videos, text, surveys, etc.) posted on each social media during each period.Response rate: The percentage of user questions and comments you respond to within a specific time period.Social media marketing budget: The amount of money your team spends per period of time.2. Reach indicator: your audience or potential audienceThis set of metrics focuses on the size and growth rate of your audience and potential audience, as well as how often and how effectively your messages are reaching them. Many social media management tools (like Buffer!) provide a lot of similar metrics.Audience growth rate: The rate at which a brand is growing or losing audience across each channel. Divide the number of new audience members by the total number of audience members.Average position: The average position of a brand’s ads in the search engine results page (position 1 is the top of the first page).Brand awareness: The total number of times your brand is mentioned in each period of time.CPM: The cost of 1,000 paid ad impressions.Fans/Followers: The total number of fans on each social network during each period.Influence score: Influence scores are provided by companies such as Klout and Kred, and measure the influence of a person or brand within a social network.Keyword frequency: The number of times a specific keyword or phrase appears in a brand’s social graph.Post reach: The number of people who viewed a piece of your content at least once over a period of time.Potential impressions: The number of times a piece of content could be shown in a certain period of time, regardless of whether a user interacts with it.Potential reach: The number of people who are the potential audience for a brand, including their friends and other people who have the opportunity to see a piece of content within a certain period of time.Audience share : The percentage of people a brand will reach compared to its competitors.Engagement share: How a brand’s engagement metrics compare to other businesses in a similar space.Share of voice: How a brand’s share of people’s conversations compares to similar businesses.Sentiment: The percentage of positive, neutral, and negative emotions people have when mentioning a brand.Video views: The number of views your video content has attracted on channels such as YouTube, Vimeo, or Facebook.3. Engagement metrics: People’s interactions with your brand and their interest in your brandThis data looks at how people interact with your content on social networks, and how they share and re-share your content.Amplification: The average number of shares per post. Depending on the social network you use, you may want to break down your amplification rates into separate statistics, for example:——Twitter retweet——Share on Facebook——Share on Google+——LinkedIn Share——Repost on Pinterest——Instagram RetweetRecognition rate: the number of times the content is recognized by the audience in each period of time, including the number of likes on major social media platforms.Average Engagement Rate: The percentage of your audience that interacted with your content in any way via a social channel during the reporting period.Comment rate: The average number of comments each of your posts gets.Conversation rate: The number of conversations per social network post. On Facebook, Google+, LinkedIn, Pinterest and Instagram, this means comments; on Twitter, it means replies.Engagement as % of Audience: Total engagements on each social network divided by total audience.Interaction rate per follower: total interactions on a social network divided by the number of followers on that social network.Virality: refers to the speed at which a piece of content spreads across major social networks. A better way to measure this is the total number of shares a piece of content has received.4. Get Metrics: Build RelationshipsAt this stage, people who were originally just chatting with your brand on Twitter or Facebook may take the next step and potentially check out your website to learn more about your products and services. Acquisition metrics focus on their experience there—including whether your audience aligns with your product or service and your values. Analytics providers like Google Analytics can provide many similar metrics.Blog Subscribers: The number of people who subscribe to your blog.Bounce rate: The percentage of visitors who visit only one page on your site and then return to their original location without continuing to view more content on your site.Clicks: The number of times a link is clicked in a post on a social network.Click-through rate : The rate at which your audience clicks on a link in a post on a social network. Divide the number of link clicks in a post by the number of impressions for that post.CPC : Cost per click for paid advertising or social networks.Email Subscriptions: The number of people who have subscribed to your email list.Leads: The number of potential sales contracts obtained through social media in each period.Link Count: The number of pages on your site that link to a specific page.Microconversions: Any measurable action that a brand’s users frequently take before completing a conversion.Page views: The number of page views or clicks on a website in a specific period of time.Social Visits Percentage: The percentage of your website's total traffic that comes from referrals on social networks.Ranking per keyword: The average position of your content in search results for a specific keyword or phrase.Session (formerly Unique Visitor): A group of interactions that occur on your site over a period of time. (A session can include multiple screen or page views, time, or social interactions.)Session Duration (formerly Visit Duration): The sum of the durations (in seconds) of all interactions divided by the number of sessions.Traffic: The number of visits and visitors that a social network sends to your website in a given period of time.Traffic ratio: The proportion of the three main traffic sources, including:Direct visitors: People who visit your website by typing its URL directly into their browser .——Search visitors: People who visit your website through search engines.——Referred visitors: People who visit your website through other blogs or websites.5. Conversion Metrics: Activities, Sales, and ResultsThe ultimate goal of using brands to attract visitors is still to focus on conversion indicators. You might define a conversion as a sale, a subscription, a download, a sign-up, or something else. Likewise, Google Analytics can also provide useful information.Average Purchase Value: The average value of each purchase made by a customer.Average revenue per customer: The average amount of money each customer spends with a brand, calculated by dividing annual revenue by the total number of customers in a year.Conversions: The number of conversions per time period (a conversion here can be defined as the final action you want users to take on your website, such as an email subscription, download, registration, installation of a widget or tool, etc.)Conversion rate: The percentage of users who take your desired action, calculated by dividing the number of conversions by the total traffic during each time period.CPA (cost per acquisition or cost per activity): How much a brand pays to acquire a potential customer.Cost per conversion: How much a brand pays to get a conversion.New visitor conversions: The number of conversions brought by new visitors to a brand's website in each period of time.Returning Guest Conversions: The number of conversions generated by returning visitors to a brand's website during each time period.RPC (revenue per click): The average revenue generated by each click on a paid ad.Social Media Conversion Rate: The percentage of conversions that can be attributed to social media, divided by total conversions.ROI (Return on Investment): Revenue generated by a social media campaign divided by all known social media expenditures.6. Retention and support indicators: satisfied users and brand evangelistsMany of these KPIs are not traditional social media metrics, but rather regular business metrics that cover the final and perhaps most important stage in a consumer’s journey to becoming aware of your brand. At this stage, we will create some relatively satisfied users and make them the most important salespeople of our brand - in other words, turning the entire funnel upside down.Brand evangelists: The number of customers who can be considered brand evangelists, based on their support for your brand on social media.Customer Annual Value or Lifetime Value: The net profit expected from the future relationship with a customer.Customer retention rate: The percentage of customers who continue to maintain a relationship with your business despite other customers leaving.Number of customer reviews: The number of positive or negative customer reviews in each period.Customer satisfaction: A measure of how well a company's products or services meet or exceed customer expectations.Customer satisfaction rate: expressed as a score, with 100% representing complete satisfaction. This indicator is usually included in the questionnaire, asking users to give their own satisfaction rate.Churn rate: A measure of the number of customers who leave within a specific period of time.Customer Reviews: The number of positive customer reviews in each time period.K-factor: The growth rate of a website, application, or number of users.Net Promoter Score: To calculate this metric, customers are asked a question: How likely are you to recommend our product or brand to a friend or colleague? The value range is 0 to 10.Support cost per order: The operating cost of the support team in a month divided by the number of orders in that month.Finally, don’t forget…You may have noticed that many of the metrics presented in this article are worth analyzing. But only you know which metrics will help you understand whether your strategy is working.Don't forget, you are the expert. Be sure to make indicators work for you and never put the cart before the horse.
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