What Social Media KPIs Should You Be Tracking?

1. Engagement Rate

Imagine your social media posts as a party invitation. The engagement rate is like counting how many people showed up and had a good time. It tells you if your content is popular with your audience. High engagement means your content is resonating; low engagement might mean you’ll need to rethink your social media strategy.

 

2. Follower Growth Rate

This one’s similar to tracking the number of friends you make at school. It shows how quickly your social media audience is growing. A healthy follower growth rate means your content is attracting new people interested in what you have to offer.

 

3. Click-Through Rate (CTR)

CTR is counting how many people clicked on a link in your post. It’s vital to understand if your content is compelling enough to get people to take action. Whether it’s visiting your website or signing up for a newsletter, a high CTR indicates success.

 

4. Conversion Rate

Imagine you’re running a lemonade stand. Conversion rate is figuring out how many passersby actually bought a glass. In social media, it means tracking how many of your visitors take the desired action, such as making a purchase or filling out a contact form. It’s all about turning engagement into results.

 

5. Return on Investment (ROI)

ROI is counting the money you make from your lemonade stand compared to how much you spend on lemons and cups. In social media, it’s about measuring the profitability of your social media campaigns. Are you getting more money in return than you’re investing in your social media marketing? That’s what ROI tells you.

 

6. Impressions

Think of impressions as the number of people who saw your lemonade stand, even if they didn’t stop by. It’s the total eyeballs on your content. Monitoring impressions helps you understand your brand’s visibility and reach on social media.

 

7. Share of Voice (SOV)

SOV is figuring out how loudly your lemonade stand’s advertisement is heard compared to other lemonade stands. It shows your brand’s presence in conversations within your industry. A larger share of voice means you’re making a bigger impact.

 

8. Customer Lifetime Value (CLV)

CLV is calculating how much each of your regular lemonade buyers spends over time. In social media, it’s about understanding how much value a customer brings to your business throughout their entire relationship with you. It helps in making long-term marketing decisions.

 

9. Social Media Traffic

Think of social media traffic as the people who came to your lemonade stand after seeing an ad on social media. Tracking this KPI helps you see how well your social media efforts are driving visitors to your website.

 

10. Customer Satisfaction (CSAT)

CSAT is asking your lemonade customers if they liked their drink. In social media, it’s about gathering feedback from your audience to measure their satisfaction with your brand. Happy customers are more likely to stay and become advocates for your business.

 

These 10 social media KPIs are the compass that can guide your SME in Singapore towards success in the ever-evolving digital landscape. They help you understand what’s working and what needs tweaking in your social media marketing strategy. Remember, tracking and analysing these KPIs will help your business not only survive but thrive in the world of social media marketing.