With so many companies competing for attention on social media platforms like Instagram, Twitter, and Facebook, it can often be confusing to see which businesses are really coming out on top. Is it based on likes? Retweets? This confusion can make it hard to track how your business is really doing as it relates to social media marketing. Though there are no real rules or formulas pertaining to social media metrics, there are a few indicators that can help you get a better idea about how your brand is doing on social media. They include:
The awareness factor
Awareness can help a social media marketer figure out whether their campaigns are really making an impact. A few things to look at when measuring awareness about your brand on social media:
- First-time visitors to the company website
- Likes
- New follows
- Retweets
- Higher rankings on search engines
When you see that more people are becoming aware of your brand and connecting with it on various platforms, it shows that your efforts are working. This may come in the form of significant growth on your Facebook fan page, or perhaps articles you link to on Twitter get a lot of reaction from users. Why does awareness matter so much you ask? A recent survey shows that 68 percent of consumers rely on social networking sites to help them make a decision about a new product. If they don’t know you exist, they can’t check out your business and become a customer.
Consideration
Once you get people to come to your website or Facebook page, you want them to stay for a while. When you notice that users are interacting with your content more, this is a positive thing. This can come in the form of content shares, positive comments, video views, and longer visit durations. While getting the traffic there is important, it’s keeping them there and encouraging them to take action that really grows your business.
Conversion
From awareness and consideration comes conversion. Studies show that more than 39 percent of a business’s customers come from search engines. Conversion success can be measured by looking at conversion rates related to sales or leads, as well as user behaviors, and referrals from social networks. You can have the best website in the world, but if no one is buying anything or taking further action, it will prove useless. That’s why conversion is so important.
A social media marketer should keep in mind that social media numbers won’t jump overnight. It’s more like a slow, steady progression. For this reason, it’s important to keep a watchful eye on your social media metrics. If you add a new feature to your website, monitor web traffic for the next few months in order to get a better feel for what your client base thinks. If you decide to start beefing up your Twitter efforts, give it some time to make a real splash among potential clients.
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The Red Ink 
Great article