What are the most important KPIs on social media?
What are the most important KPIs on social media? Digitization is undoubtedly here to stay. The world adopted information technology in its daily development, and Telecommuting became the best ally for the confinement by COVID-19. Besides, given the exponential growth of social networks, we consider them a great partner to increase sales and grow your business. Therefore, big brands know that constantly interacting with the audience on these platforms is essential for success. Most organisations want to have a presence on the most visited social networks.
Certain meters are used to know if your strategy on these platforms is paying off by measuring your business success. So, if you don’t do this measurement, it will be more challenging to succeed since you can’t track your business’s online results.
To measure your performance, there are Key Performance Indicators (KPIs). These provide you with the necessary tools to determine if your strategy is working. Thus, in this article, BluCactus will explain some of the indicators used on these platforms.
What are KPIs on social media?
A Key Performance Indicator is a variable that allows you to measure the results of your communication campaigns. Therefore, this valuable data will let you know if you need to change strategy, rethink objectives, or modify approaches.
In the case of social media, the objectives are part of the strategy. For this reason, it’s essential that before setting short, medium, and long-term goals, you define why you want to use a social network for your business. Do you want to get more clients? Do you want to collaborate with other brands?
Do you want to recruit staff? Once you answer these questions, you will know the best strategy for your chosen social network to promote your company.
So, the KPIs on social media will simply be that notice that will make it easier for you to process a lot of information generated on social networks. Besides, with these indicators, you will know if you are taking your business on the right path.
How KPIs work on social media
KPIs work through the objectives that we establish in these virtual platforms. We will only use the necessary indicators as KPIs to measure the performance on our platforms.
Today, companies need to adapt to technological changes without leaving aside the essence of their brands. This fact is challenging, as the digital world is constantly changing.
For this reason, you can also change KPIs in social networks depending on the aim you want to develop in a particular strategy.
Therefore, each organization will have different KPIs depending on what they are looking for. For example, if you want to know how many people are reading your site, using some kind of KPI to measure the number of views is good.
Why is it good to establish KPIs on social networks based on SMART criteria?
As already mentioned, if your goal is to increase sales, use indicators that visualize how many people view your product online. Besides, you must base the choice of these KPI keys on the SMART criteria to optimize the result. This will help you link your indicators with your sales strategy, making them more effective in obtaining results.
KPIs on social media: what is the SMART criteria?
Choosing the goals based on the SMART criteria will avoid wasting resources. Besides, you can set realistic goals that will help you achieve your goals. The SMART criterion implies that your strategies are specific, achievable, measurable, relevant, and temporary.
- Specific: What is the aim you want to achieve? With social media, you must define what you want to use them for. Then, you can define the rest of the objectives and the strategies to achieve them.
- Attainable: Can the goal be reached? At this point, it’s vital to highlight the environments of the companies since they influence important decisions.
- Microenvironment: it comprises the departments of your company and everything related to it.
- Macroenvironment: these are uncontrollable factors external to your organization that influence your environment and strategic decisions. Some examples are politics, economics, and technology.
So before measuring your goal reach, consider these factors influencing your goal. For example, if your goal is to buy a cookie machine, but you don’t have enough money, your goal is unattainable in the short term, and you will need to adapt to your financial situation.
- Measurable: What results do you need to measure? With KPIs on social media, it’s an excellent opportunity to question whether the meter of your objectives is correct.
- Relevant: what could this aim bring to your company? Why can it be relevant? We muvitaldraw the objectives according to the benefits they could produce.
- Temporary: How long will it take to reach the goal? When is it needed? Define whether or not the target compliance period is consistent with what the company needs.
The main KPIs in social networks
These digital platforms have their own algorithms. Many times, without realizing it, they also provide us with valuable tools that we can take advantage of to exploit our brand. Also, although there are many KPIs, some essential and specific ones are used in these communities. Below, we present the main KPIs on social media:
- Engagement: shows your audience’s interaction with your brand and their loyalty towards your products. For this reason, it’s not advisable to invest money buying false followers on social media since you likely won’t have real growth in your account. The point is to have loyal customers and real interaction with your followers. Besides this, some meters let you know how committed users are to your business. Some of them are:
- Comments: they generate interaction with your brand. The different users want to express their opinion on its content through this space. So, read them as the comments can also tell you if things are going well. Be on the lookout if your product dissatisfies any customer and let you know.
- Likes: the amount of them matters if it comes from real users. A “like” is just that. The user liked what you had published. Upon receiving them, people show their support for your brand.
- Shared: if people share your content, they take something you have published as a reference, which shows loyalty to your brand and increases its positioning.
The number of sales: this number will also be an essential indicator only if this is your main objective.
Other useful KPIs on social media
Visibility gives businesses some positioning. The more they see you, the more they know you. So if your goal is to attract potential customers and publicize what you offer, pay attention to this point.
The KPIs you need for everything related to visualization are the following:
- Printing: Printing as a KPI meter in posts refers to the number of times the brand content is viewed.
- Reach: represents the amount or the exact number of people who viewed the content of your brand, whether it’s an advertisement, publication, or video, among others.
It should be noted that print and scope work together in most cases because they are powerful KPIs if appropriately used. For example, if someone observes the same product more than once, the impressions increase, while the scope does not because it would be the same user. Also, to maximize the potential of this indicator, relate your images and reach to what you publish.
- The number of followers: the number of people who follow your account will be a crucial indicator to know if you are achieving your goals on social media. However, the number of followers will always be in constant variation. Therefore, you must consider that real followers with true interactions are the ones that will bring long-term benefits to your brand. Loyal customers support you by liking or following your brand account.
Attracting new users
The acquisition of potential customers is always essential if we want to increase sales and expand in the market. Social media is an excellent window that will allow you to expand your range of clients. For this, there are some KPIs that can measure those potential clients. Besides, with these indicators, you can define new marketing strategies.
- Private messages: Have you thought about the importance of replying to all messages found in the mailbox? A potential buyer may ask about the availability or price of a product. If you don’t respond in time, this customer may lose interest. Also, your competition could react to that message faster, and you would have missed a good opportunity. These conversations can generate loyal customers. Speed of response, precision, and friendliness are the keys at this point.
- Visits on the web generated from social media: showing the link of your websites and generating that facility to link with them is an excellent strategy to attract new customers. If someone looks at your brand’s profile on Instagram and likes a product, chances are they will head to the website for more information and to see how they can get it.
Why KPIs on social media are important to your business
If you don’t apply KPIs in your business, chances are you don’t know if you got the results you expected from your strategies. Therefore, it’s vital to have these indicators since the dynamics of the networks constantly change. Also, being aware of all the signals our audience sends us is crucial.
Here are some benefits KPIs bring on social media to your business:
They influence the objectives:
Without a doubt, a negative result of any indicator will be influential in rethinking your brand’s objectives. Besides, a good meter allows you to find the strengths and weaknesses of a strategy in real-time. This is elemental, as changes in marketing are volatile given globalization. Therefore, having this knowledge will contribute to the growth of your business.
Know your progress:
If you are unclear and don’t use an important tool like this, you are wandering around the networks. Therefore, you are at great risk because you don’t know if your efforts and resources meet your objectives.
Whatever their indicators, it’s essential to consider that measurement can affect your brand if you establish what you want to achieve with KPIs on social networks and how to use them in your strategy.
This advantage stands out as it allows you to communicate the performance of the actions to the other team members.
Finally, thanks to these tips, you can now better define your KPIs on social networks based on the objectives of your business to grow. They are very useful in the world of marketing. Consumers are more demanding today, and the best way to satisfy them is to listen and offer more than just a product. For this reason, KPIs are essential.
These indicators help you improve the conditions and business strategies to succeed with the proposed goals. At BluCactus, we offer you the best options you can apply to your business to succeed in the market by expanding your brand and keeping loyal and happy customers. Now it’s your turn to contact us to advise you on this and other important digital marketing issues.
To conclude, if you have any doubts or questions about KPIs on social networks, we invite you to express them in the comments section. You can also subscribe to our daily newsletter to receive our articles and news with the latest in digital marketing.
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