In the last post we shared everything you need to know about creating the prefect campaign and customizable calendar. But how do you know the important social media KPIs to look out for?
We’ll cover that in today’s post.
KPI is the abbreviation for Key Performance Indicator. Social media KPIs are metrics used to determine the effectiveness of a business’s social media strategy.
Social media KPIs can also be called social media metrics so that people can relate better with the term and not think it is another Harvard programming term.
That said, marketing teams use these metrics to assess all their efforts in every relevant area of social media-related performance–advertising and engagement inclusive.
KPIs help businesses to see their performance periodically, weigh it with their goals and make changes where necessary.
Your company’s KPIs will constitute every piece of tracked data associated with your company’s presence in individual social media channels like Instagram, Facebook, Twitter, Youtube, or social media platforms generally.
There are diverse kinds of KPIs, and it’s often hard to make a straightforward list of them. But, let’s take a look at some KPIs you need to know below:
1. Post Rate
Post rate is the number of social media posts within a given period. This may include Instagram posts per period, Tweets per period, LinkedIn posts per period, Facebook posts per period, etc.
2. Response Rate
Response rate is the percentage of comments, questions, or problems from people concerning your brand that you respond to in a given period.
3. Content Rate
Your content rate is the number of content pieces you produce at a particular period. Such content includes presentations, blog posts, infographics, videos, etc.
4. Average Response Time
Average Response Time is the average amount of time it takes a brand rep or teammate to reply to inquiries and comments from the brand’s audience on social media.
5. Post Type Mix
Post type mix is the percentage of posts on each social media platform per period, analyzed by type, e.g., link, text, image, video, etc.
6. Post Topic Mix
Post Topic Mix is the percentage of posts on each social media channel per period, analyzed by content topic, e.g., promotions, blog posts, resources, etc.
7. Social Media Marketing Budget
A social media marketing budget is the amount of money your marketing team spends per reporting period.
CPM is the cost per thousand ad impressions in paid advertising.
9. Post Reach
Post Reach is an estimate of the number of people who see a particular piece of content at least once in a given period
10. Audience Growth Rate
Your audience growth rate is the rate at which your brand gains or loses audience members per platform, calculated by dividing new members by the total audience members.
11. Fans or Followers
Fans are the total number of people on your platforms per period.
12. Average Position
Average Position is the average position of a brand’s ad on the results page of a search engine. Note: The top position on the page is 1.
13. Keyword Frequency
Keyword Frequency is the number of times a given phrase or keyword appears on a brand’s social media content.
14. Potential Reach
Potential reach is the potential number of people in your brand’s audience—together with their friends and other members of a social media community—that could see a piece of your content within a given period.
15. Potential Impressions
Potential impressions represent the number of times a content piece could be displayed, not considering whether or not it is engaged by people during a given period.
16. Brand Awareness
Your Brand Awareness is the total number of times your brand is mentioned online within a certain period.
17. Share of Voice
A brand’s share of Voice is how it measures up in conversation when compared to related brands
Sentiment is the percentage of total brand mentions that are positive, indifferent, and/or negative.
19. Share of Audience
Share of Audience is the estimated percentage of people a brand will reach when compared to its rivals.
20. Video Views
Video views mean the number of views a piece of video content gets on Facebook, Youtube, Vimeo, etc.
21. Share of Engagement
A brand’s share of engagement is the way its engagement stats compare to others within the same field.
22. Influence Score
Influence scores are used to measure how much influence an individual or brand commands on a particular social media platform. They can be awarded by Klout, Kred, or other similar providers.
Click-Through is the number of clicks on a link in a post within a social media channel.
CPC means Cost per Click—for paid social media advertising or search.
25. Click-Through Rate
Your brand’s click-through rate is the rate at which your audience clicks on a link in a post within a social media channel. It is calculated by dividing the post’s number of clicks by its number of impressions.
26. Rank Per Keyword
Rank per keyword is the average position of your content on a search engine among search results for a particular keyword or phrase.
Lead is the number of potential customers earned via social media within a given period.
Traffic is the number of social media-driven visits or visitors to your site per period.
29. Traffic Ratio
Traffic ratio is the percentage of traffic from each of the main types of visitors—direct, referral, and search visitors.
Conversions measure the number of conversions within a given period. A conversion is a final action you want a user to take on your site. It could be to purchase a product or service or subscribe to a newsletter.
31. Average Order Value
Average order value is the average value of each purchase a customer makes.
32. Conversion Rate
Conversion rate is the percentage of users whose actions lead to a conversion. It’s calculated by dividing total conversions by total traffic within a given period.
33. Social Media Conversion Rate
Social media conversion rate is the percentage of total social media-attributed conversions gotten by dividing the sum of social media conversions by total conversions.
34. Average Revenue Per Customer
The average revenue per customer is the average amount a customer spends on a brand. It is calculated by dividing annual revenue by annual customer count.
CPA is the abbreviation for Cost Per Action or Cost Per Acquisition. It is the dollar equivalent of what a brand pays to gain a lead.
36. RPC (Revenue Per Click)
RPC is the average amount generated in revenue per click with paid advertising.
37. ROI (Return On Investment)
ROI is the amount generated from social media efforts divided by the total social media expenses.
38. New Visitor Conversions
New visitor conversion is the number of conversions that happened within a period from new visitors to the brand’s website.
39. Return Visitor Conversions
Return visitor conversion is the number of conversions per period from visitors returning to your brand’s website.
40. Customer Retention Rate
Customer retention rate is the percentage of all retained customers with respect to those that couldn’t be retained.
41. Customer Lifetime Value
Customer lifetime value is an estimate of the net profit that could accrue to your brand in the future from a customer.
42. Customer Satisfaction
Customer satisfaction is the measure of how goods and services offered by your brand meet or exceed your customers’ expectations.
43. Customer Satisfaction Rate
Customer satisfaction rate is the percentage score between 0% and 100% that defines how pleased a customer is with a brand. As expected, 100% stands for absolute customer satisfaction.
K-Factor is the growth rate of your customer base, application, or website.
45. Brand Evangelists
Brand evangelists are the customers that loyally promote a brand, judging from their level of influence on social media.
46. Average Engagement Rate
The average engagement rate is the percentage of interaction an audience has with a brand’s content on its social network in a given period.
47. Customer Turnover Rate
Customer turnover rate is the measure of how many customers leave in a given period.
Virality is the rate at which your brand’s piece of content circulates across social media. It can be measured by the total number of shares per content piece.
Lastly, good knowledge of the most important KPIs will help you analyze your social media marketing activities like a pro.
You Need to have the KPIs listed above at your fingertips to help you appraise and optimize your business appropriately.