Social media metrics can be defined as data used to determine the impact of social media.
It is common for individuals to measure social media success in terms of favorite, comment, or follower counts. While these metrics stand as important interactions that your audience has with your business or organization, they should not be the metrics used to determine the success of your social media efforts.
There are hundreds of social media metrics your business or organization can track. In terms of social media engagement, conversion, amplification, applause rates are three metrics that your organization or business should track for social media success. Keep in mind that many of these metrics can be calculated using free or paid social media tools such as Google Analytics or Sprout Social. However, if you are just beginning these metrics can be calculated easily on your own.
Conversions are desired actions and occur when an audience member at the end of your social media message performs an action. Downloading an eBook, registering online, or submitting a form on a web page are all conversions. Completing these actions means your audience is interacting with your brand and is interested in your content.
To calculate your conversion rate, select a period of time. Second, divide the number of people who downloaded that eBook or registered online by the number of visitors to your website.
A high conversion rate tells you that you understand who you audience is and that you offer value that is attractive to your audience.
Amplifications occur when your content is shared by an audience member on a social media platform and reaches a new audience. For example, your Twitter follower might re-tweet your content to their feed and audience. Amplifications tell you who is sharing your content and the type of content your audience finds so valuable that they share it.
To calculate your amplification rate, select a period of time – for example, one week. Within that week, calculate the number of times your content was shared, re-tweeted or re-posted on a social media platform and divide by the number of followers or page likes on that platform.
The applause metric is a fancy word for affinity or approval actions that a business or organization receives from their social audience in a defined period. This includes the number of likes, +1s, or favorites on a social media platform. When you track your applause rate, you can see how you are increasing brand affinity over time, how many people like your content so much that they like or favorite, and the value of your posts to your audience.
To calculate your applause rate, select a period of time and calculate the number of likes, +1s or favorites for that period on your social media platform. Then, divide that number by the number of followers or pages likes on your platform.
And there you have it! Consider calculating your metrics monthly at first. As your social media presence grows, consider adopting a weekly schedule. Positive metrics make for a happy, successful social media presence.