7 Social Media Metrics You Need to Track — Transcript

Full transcript

1. 0:00- Seven social media metrics you need to track.
2. 0:03You might be on every single meaningful social media site
3. 0:06out there but all your effort isn't really worth anything
4. 0:10unless you're tracking what's driving your results
5. 0:13and what's not.
6. 0:14Trust me, there have been plenty of times
7. 0:16I post something out there and I thought that was great.
8. 0:20Well, I gained no traction.
9. 0:21Sure, I may have gotten some likes or impressions
10. 0:24but those things really didn't help my business grow.
11. 0:27So, what do I do after a post like that?
12. 0:30I go to the numbers and not the big ones like,
13. 0:34hey there are 4.5 billion users
14. 0:36on social media according to status that's a obvious one
15. 0:39and that doesn't really help move the needle.
16. 0:41When I'm talking about when I say numbers
17. 0:44I'm talking about the metrics,
18. 0:45the essential ones that you know you need to track
19. 0:48and you need to optimize to maximize your return
20. 0:52on social media spend or just your time on social media.
21. 0:56So metric number one, reach.
22. 0:58This is a easy one.
23. 0:59Reach is the number of people who see your content.
24. 1:02It's always important to ask yourself two main questions
25. 1:05with this one,
26. 1:06whether or not you're reaching enough people.
27. 1:09If you're reaching enough people why aren't they converting?
28. 1:13Nearly 75% of the world's population
29. 1:15over the age of 13 uses social media.
30. 1:18So, your audience is out there.
31. 1:21Pay attention to an important subset of your reach.
32. 1:24What percentage is made up of followers
33. 1:26versus non followers?
34. 1:28What percentage is made up from followers
35. 1:30within your ideal regions and age range
36. 1:33that you're targeting that's the right fit
37. 1:34to buy your product or service?
38. 1:36If you're targeting the wrong type of people
39. 1:38you may want to adjust your content,
40. 1:40look to see what some of your competitors do
41. 1:42so that way you can target the right people
42. 1:44and generate more sales.
43. 1:46Metric two, impressions.
44. 1:48Meta saw impressions grow 10% in 2021.
45. 1:52Yes, if they're seeing impressions grow
46. 1:54and 2022 and 2023 and over time, numbers change.
47. 1:58But when you think about this, if these social networks
48. 2:00are seeing their percentages grow,
49. 2:02your percentages should also grow.
50. 2:04But on the flip side, if their percentages are decreasing
51. 2:07and yours are decreasing, you're like, wait,
52. 2:08I'm not getting as many impressions.
53. 2:09What am I doing wrong?
54. 2:10Well, let's say a social platform's, you know,
55. 2:13impressions decrease by 20%,
56. 2:17but your impressions maintain flat.
57. 2:19That means you're doing something right.
58. 2:21If they're actually gaining users, you would be
59. 2:23doing better, but that's why tracking impressions
60. 2:25is super important.
61. 2:27Metric three, engagement rate.
62. 2:29Facebook engagement rate benchmark is 0.06%.
63. 2:33Instagram engagement rate benchmark is 0.68%.
64. 2:37That just gives you idea,
65. 2:38you want to be doing better than your competition.
66. 2:42Forget these bench, you know, mark stats, instead,
67. 2:45the easiest way to figure out how you're doing
68. 2:47on all the social networks is go look at your competition,
69. 2:51see their engagement rate with how many likes
70. 2:53and comments they're getting per post
71. 2:54based on how many followers they have.
72. 2:56So if they get a thousand likes when they have a hundred
73. 2:58thousand thousand followers, that's a 1% engagement rate.
74. 3:01If you're doing better than your competition,
75. 3:03you're doing good.
76. 3:05Metric four, amplification rate.
77. 3:08The ratio of shares per post
78. 3:09to the overall number of followers.
79. 3:11Coined by Avinash Kaushik,
80. 3:14the author and digital marketer at Google,
81. 3:16amplification is the rate at which your followers
82. 3:19take your content and share it through their network.
83. 3:23So, you want to really look at this
84. 3:25because you can see what kind of content is helping you
85. 3:27and which content isn't really getting you the amplification
86. 3:31that you're looking for.
87. 3:32You want to create more of the content that is
88. 3:34getting you the amplification and less of the content
89. 3:36that isn't getting you much of it.
90. 3:38Metric five, virality rate.
91. 3:40Similar to amplification in that
92. 3:42it measures how much your content is shared,
93. 3:45but virality rate calculates share as a percentage
94. 3:48of the impressions rather than
95. 3:50as an impression of followers.
96. 3:53Metric six, audience growth rate.
97. 3:55How many new followers are you getting on social media
98. 3:59over a certain period of time as a percentage
99. 4:01of your total audience?
100. 4:03Here's a tip for you.
101. 4:05If you want to grow your audience fast, get on TikTok.
102. 4:08It's the fastest growing social network with
103. 4:10105% user growth in the US over the last couple years.
104. 4:15Metric seven, social referrals.
105. 4:17According to HubSpot, consumers are 71% more likely
106. 4:21to make a purchase based on social referrals.
107. 4:24Now, social referrals are huge because it's other people
108. 4:27vouching for you saying your product
109. 4:29or your service is good.
110. 4:30Think of it as a version of review or a rating on Amazon.
111. 4:34That's the same concept with let's say, social referrals.
112. 4:37Now, a bonus metric for you
113. 4:39and this is the most important one
114. 4:41which is why I really want to save it for last
115. 4:43and this would technically be number eight, is ROI.
116. 4:46What is your ROI on social media?
117. 4:48What posts are getting you the most return
118. 4:50versus which posts are generating very little to nothing?
119. 4:54And you can track this in Google Analytics.
120. 4:56You can set up goal and conversion tracking.
121. 4:58Also, when someone completes a lead form or a purchase
122. 5:01or buys a service from your signs up
123. 5:04you can also survey them and ask them how they find you
124. 5:07and where they signed up from.
125. 5:08This will give you an idea of what channels are giving you
126. 5:10your biggest ROI.
127. 5:12And if they said, hey, social media,
128. 5:13well what posts on social media made you find me?
129. 5:16They may remember, they may not.
130. 5:18But it all helps out, especially when you combine
131. 5:20that with Google Analytics goal tracking.
132. 5:23Now, if you need help with your social media marketing
133. 5:26and setting up your analytics and tracking your ROI
134. 5:29from social media, check out my ad agency, NP Digital.
135. 5:32If you enjoyed this video, like it, share it
136. 5:34tell the people about it.
137. 5:35If you have questions, leave a account below.
138. 5:37I'm here to help.