What are Social Media Metrics?

Social media metrics are the tools you use to measure your success in a social marketing campaign that will directly correlate with how much money is being made. Without them, you won’t have any idea if your work is driving business or not-and whether it’s worth continuing investing time and resources into this type of advertising effort.

Why are Social Media Metrics important?

The internet has made it so easy to market your business and reach a wide audience, but you can’t just put out anything. You must know what content is reaching the right people for maximum impact- otherwise all that time spent marketing could go unnoticed!

Social media may seem like an explosion in recent years as its influence over billions of lives becomes undeniable. Still, with every new technological advancement comes growing pains; how do we make sure our target demographic sees the most engaging content? We need data on which outlets are effective at capturing these customers’ attention or else any time invested into something unproductive will be wasted and never be noticed by those who matter!

Metrics can tell you more than just what your audience wants. It also defines how to refine the products and services that are most popular, maximizing customer experience while enhancing revenue.

Tracking Social Media Metrics

There are several ways to measure social media success. The easiest method involves using online analytics software that tracks metrics on every social media platform you give access to. Not only does this make it easier for people who don’t have a lot of time, but also ensures they’re doing everything in their power to make it work because if the numbers aren’t looking right then something needs fixed fast!

There are many ways one can go about measuring how well his or her work is going with regards to marketing oneself through various forms of Social Media channels such as Facebook, Twitter, Instagram, etc.

As much as you may be getting good information, it is possible that there are other metrics out there which your software might not be tracking for you. With this in mind, we have compiled a list of the top 4 must-track metrics to help ease your efforts!

The modern world offers us plenty of convenience and opportunity with regards to business endeavours, but some problems persist when trying to track our own progress or growth within the said ventures. This can often lead people down paths where they find themselves either lost on what needs improving, too busy chasing their tail without seeing any real advancement towards success (or both!). Thankfully though, with technological advancements over time many tools including different types of applications now exist which take care of all these matters automatically behind the scenes.

Social Media Metrics you need to be tracking!

Average Engagement Rate (AER)

The average social media engagement rate includes the degree of interaction between your followers and posts. It is not as easy to calculate by simply counting the number of interactions on a post, but there are many other ways you can measure success.

The most common measurement for determining how well one’s social media marketing efforts are working in an account is their “engagement rate.” This term refers to just that–the level at which people interact with posts from accounts they follow online. More specifically, it counts every like or click-through response made against content published within a certain period (usually 30 days). However, this isn’t always accurate; measuring only those who have ‘liked’ or clicked through does not take into consideration all potential viewers across platforms

To determine your average engagement rate, you’ll add up all the engagement actions on either a collection of posts or every post that has been made in a specific time frame. Then divide by how many followers you have to get your total interactions. Finally, multiply this number times one hundred for an accurate representation of what percentage people are engaged with each particular piece/post!

It turns out that what’s a good engagement rate isn’t necessarily the same across all social media platforms. This is because different sites will have varying levels of competition and one post may perform well on your site but be less popular among other users.

These are average and good AERs by platform:

• Facebook
  • Average: 1-3%
  • Good: 3-5%
• Twitter:
  • Average: .5-1%
  • Good: 1.5-2%
• Instagram:
  • Average: 1-2%
  • Good: Above 3%
• LinkedIn:
  • Average: 1-2%
  • Good: Above 2%

Algorithms on all the platforms track what users do with your posts and use that information to show them more or fewer posts from you. The better a user’s AER, the more likely it is for their content to be seen by other people who will in turn provide feedback which helps feed into an algorithm used across social media sites such as Facebook, Twitter etcetera.

As time goes on algorithms become smarter at learning how we interact with one another online and are able to collect data about our habits over multiple sessions of interaction through monitoring our feeds so they can tailor them accordingly- meaning if somebody has shown interest in certain types of updates then there is a good chance they’ll see similar ones again while scrolling down their timeline or catching up

Conversion Rate

Conversion rates are one of the most important metrics, and companies track them because they can tell you how much revenue your social media marketing is bringing in. Your conversion rate is simply a person’s action on their page divided by total visitors to that specific site or domain.

The conversion rate is the starkest illustration of your worth as a company. If you’re getting lots of visitors but few conversions, it’s time to change your strategy and stop wasting money on advertising that isn’t working for you!

Cost-Per-Click (CPC)

Advertising can be expensive, but if you’re smart about it then the cost won’t seem so bad. Cost-per-click (CPC) is a good example of this principle at work; every time someone clicks your ad on Facebook or Google, that click costs money no matter what.

Think about all the time and money you spend researching which type of advertising is going to generate results for your business. You’ll probably consider factors like how much it costs, what its return on investment will be, if there are any legal restrictions that might come up… The list goes on! But even after considering just those three things mentioned above- cost effectiveness (ROI), legality concerns, and budget limitations- you still have a lot more decisions to make before making an informed decision. For example: who or where do I want this advertisement seen? When should my ads start running so they don’t go unnoticed by potential customers? What message am I trying convey with these advertisements in order to increase conversions at home while generating leads abroad

In this case, you may find it more difficult to determine if your advertising efforts are worth the money spent. Your CPC is a better metric than total amount of spend for that particular platform.

Click-Through-Rate (CTR)

A great way to determine if your ads are effective is by looking at the click-through rates, or CTRs. A higher percentage of people clicking on a link means they’re more engaged with what you have going on in that post and want to get involved!

Click through rates (CTRs) can help measure how well an ad campaign is doing because it gives insight into whether viewers find something appealing enough for them to act like sharing information about their purchase decision or forwarding content from one social media channel such as Facebook onto another like Twitter.

Your click through rate calculation is:

Total Clicks divided by Total Impressions multiplied by 100

Pretty straight forward.