19 Social Media KPIs You Should Be Following

You've been there: your boss asks how the company's social media strategy is performing, and you know a high-level overview won't make it. When it comes to measuring and proving your brand's success on social media, data speaks for itself – and that's where social media KPIs come in.

Social media KPIs are measurable metrics that reflect the performance of social media and demonstrate the ROI of social media for a company. In other words, by keeping track of certain numbers, your social team can ensure that their social strategy is connected to the target audience and that your brand is achieving its business goals.

Plus, tracking social media KPIs makes it easy to get feedback to your boss. This is a reliable way to prove to your managers that your social media strategy is working.

Read on to learn more about different types of social media KPIs and how to track them.

Bonus: Get a Free Social Media Report Template to easily track and measure performance based on your KPIs.

What are social media KPIs?

KPI stands for Performance indicators.

Organizations use KPIs to determine performance over time, determine whether goals are being met, and analyze whether changes need to be made.

Social media KPIs are the metrics used to determine whether a company's social media marketing strategy is effective. In principle, data on the presence of a company on individual platforms such as Facebook, Twitter or Instagram or on all social platforms are recorded together.

Chances are, your social team is setting SMART social media goals. Your social media KPIs should also be SMART:

  • Specific: Be as clear as possible. For example, are you hoping to increase the brand's Facebook followers by 500 over the next month? Would you like to increase your click-through rate by 20% by the end of the year?
  • Measurable: Will you be able to track and quantify your progress? For example, during a monthly check-in you should be able to determine how close you are to achieving your goal.
  • Reachable: Keep it real Set KPIs that are within an achievable range.
  • Relevant: Make sure that every social media KPI is related to the larger business goals.
  • In time: What is the timeframe to achieve this goal and see if success has been achieved? A month, six months, a year?

SMART KPIs make it easier for you and your team to set your goals and work towards them consistently over time. They also make it easier to report successes to your boss. It's easy to see the victories and the progress!

How to set KPIs for social media

When setting social media KPIs, make sure they reflect your company's overall business goals.

Remember, however, that setting KPIs is not a one-time scenario, even if it is SMART. You might even be able to set different KPIs for each social media campaign and channel. This allows you to create very specific and data-driven social media reports for all of your social media activities.

You may also want to think SMARTHE. So make sure that the KPIs also leave room evaluation and Reassessment. A company's business goals are not set in stone. This means that the social media KPIs you set should change over time as the overall business goals change.

To set and monitor effective social media KPIs:

1. Specify the target of the KPI

Make it clear how tracking the KPI will help the company meet a specific business goal. Think beyond numbers and dates. How do the metrics you track support the business and play with the larger, carefully crafted strategy?

2. Name your KPI

Now that you know how your KPI should support your business goals, decide on a metric that you can use to measure whether you are on the right track. For example, if your business is focused on growth and you want to increase brand awareness on social media, you might want to make Facebook impressions one of your KPIs.

When you choose a metric, make your KPI specific (or SMART) by adding a value and a timeline to it.

3. Split the KPI

After you've decided on an important KPI, don't keep it to yourself. Communicate these KPIs with your team, your boss, and other stakeholders who should stay on top of your strategy. That way, you can set expectations and make sure everyone is aligned with what you are measuring and why.

4. Analyze your current performance

If your team is new to measuring social media KPIs, be sure to collect benchmark data. This way you can compare changes over time and see the growth when you see it – and prove to your boss that your strategy is working!

5. Define your cadence

Do you track your KPIs weekly? Per month? Bi-monthly? Decide on a pattern that allows you to clearly see patterns and developments in growth and react quickly when things are not going well.

6. Check the KPI

Allow time – maybe once or twice a year – to do a more thorough review of your KPIs. Are they still relevant? Are they still helping you meet company goals? Should changes be made?

Remember, why and how you set KPIs for social media can change as business changes.

Important social media KPIs to keep track of

There are many social media metrics out there, and each of them can be relevant to your business in different ways. Try setting KPIs in each of the following categories to effectively track how your brand's social media strategy is achieving business goals.

Achieve KPIs

Achieve KPIs to measure how many users are seeing your social channels. These users may only be passively interacting with the channel – reach and engagement are two different things. Think of reach as a volume measurement – reach data shows your existing and potential audience, growth over time, and brand awareness.

Impressions

This is the number of times your post has appeared on someone's feed or timeline. This doesn't necessarily mean that the person who viewed the post noticed or read it.

Number of followers

The number of followers your social channel has at any given time.

Audience growth rate

You want to make sure that you are gaining followers, not losing them. The audience growth rate shows how the number of followers changes over time.

Here is a simple formula to keep track of:

To reach

So many people have seen a post since it went live. Achieve changes based on when your audience is online and how good your content is. It gives you an idea of ​​what your audience finds valuable and interesting.

How to calculate it:

Post-reach equation

Possible range

This measures the number of people who were able to see a post during a reporting period. In other words, if one of your followers shared your post with their network, between 2% and 5% of their followers would consider the potential reach of the post.

How to calculate the potential reach:

potential scope of the awareness metrics

Social part of the voice

This metric shows how many people mentioned your brand compared to the number of people your competitors mentioned. It simply shows how relevant your brand is in your industry. You can use a social listening tool like Hootsuite to measure your own mentions and those of your competitors over a period of time.

How to calculate the social part of the voice:

Awareness metrics social share of voice (SSoV)

KPIs for engagement on social media

Social media engagement KPIs measure the quality of interactions with your social followers. They show you whether your audience is connecting to what you have to say and ready to engage with your brand.

Likes

The frequency with which followers interact with a social post by clicking To like Button within a specific social media platform.

L39ION from Los Angeles likes on Twitter

Remarks

The frequency with which your followers comment on your posts. Remember: comments can have a positive or negative mood, so having a large number of comments is not always good!

Mike's Hard Lemonade Canada Facebook Comments

Applause rate

The applause rate only records positive interactions or approval interactions. This includes likes, saving, retweets, favoring a post, etc.

How to calculate the applause rate:

Engagement metrics applause rate

Average engagement rate

This metric divides the total engagement a post receives – including likes, comments, saves, and favorites – by the total number of followers on your social channel. It shows how responsive your content was on average.

How to calculate it:

average engagement rate equation

Amplification rate

This is the rate of your followers who share your content with their own followers. This metric can include anything from approvals and retweets to repins and regrams. Basically, a high recruitment rate shows that your followers want to be associated with your brand.

How to calculate it:

Engagement metrics amplification rate

Conversion KPIs

Conversion KPIs measure how many social interactions lead to website visits, newsletter registrations, purchases or other desired actions. Conversion metrics indicate how effective your social media strategy is and whether it is producing actionable results.

Exchange rate

This is the number of users taking the actions outlined in your social media CTA (visit your website or landing page, subscribe to a mailing list, make a purchase, etc.) compared to the total number of clicks on that particular post. A high conversion rate shows that your social media post delivered something valuable to your audience that got them to act!

How to calculate it:

Conversion Metrics Conversion Rate Equation

Click Rate (CTR)

The click-through rate is the percentage of people who viewed your post and clicked on the CTA (Call to Action) it contained. This will give an indication of whether your content will grab your audience's attention and stimulate them to act.

How to calculate it:Click Rate (CTR)

Bounce rate

Not everyone who clicks on your social media links will read the full article you shared or make a purchase. Bounce rate is the percentage of visitors who clicked a link in your social post but then quickly left that page without taking any action. You want this to be low – this signals that your content is not particularly engaging or that the user experience you provided was not perfect.

Cost per click (CPC)

CPC is the amount you pay for social media platforms like Facebook, Twitter or Instagram per single click on your sponsored social media post. Track this to see if the amount you are spending is a worthwhile investment.

How to calculate it:
Engagement metrics cost-per-click (CPC)

Cost per thousand impressions (CPM)

This is the amount you will pay every time 1,000 people roll by your sponsored social media post.

How to calculate it:
Engagement metrics cost per thousand impressions (CPM)

Customer satisfaction KPIs

Customer satisfaction KPIs are tracked to see how social media users think and think about your brand. The feeling of their online interaction with your brand is direct feedback for your company.

Customer references

Reviews entered by your customers and published on social channels such as Google My Business or Facebook clearly show how customers feel about an experience or a product. The star rating also provides a good overview of how customers feel about your company.

Earnest Ice Cream customer testimonials

Customer satisfaction rating (CSat)

This metric shows how satisfied your followers are with your brand's products or services.

For example, you could collect this data via a Twitter or Facebook survey and ask a simple question: How would you describe your overall satisfaction with this product? Depending on how you set up your survey, respondents rate their satisfaction either numerically (e.g. on a scale from 1 to 10) or using descriptors such as poor, average, or excellent.

Net Promoter Score (NPS)

This metric measures the brand loyalty of your followers. Use a poll or poll on your brand's social channels to ask a question: How likely are you to recommend this product to a friend? Give respondents the opportunity to answer using a numeric scale or using descriptors such as unlikely, likely, or very likely.

How to Track Social Media KPIs

Now that you know the important social media KPIs to track, how are you going to track them and report on your successes?

There are a couple of options:

Native solutions

Native tracking of social media KPIs – that is, using the built-in analytics capabilities of individual social media platforms – is an option. They're free, easy to use, and can be a great option for social media managers who only track KPIs for one or two social accounts.

Social media managers can track KPIs using Instagram Insights, Facebook Insights, Twitter Analytics, LinkedIn Analytics, YouTube Analytics, etc. All major social media platforms offer basic solutions for tracking social media performance.

Twitter Analytics Tweet activity

However, this method is not ideal for teams that manage multiple social network accounts. This is simply because tracking metrics from different sources requires switching between dashboards, which makes it more difficult to compile, compare, and analyze results.

Custom reports

Custom reports collate the social media KPIs into a single, easy-to-read document for your team and managers.

To create one, manually enter into a document the data you've gathered across your brand's various social channels. Make it visual and digestible. Make sure to add graphs, charts, and samples to demonstrate how your work is achieving the brand's business goals and affecting the bottom line.

Interested in a custom report template? You can download our template here.

Bonus: Get a Free Social Media Report Template to easily track and measure performance based on your KPIs.

Hootsuite

If your brand's social media strategy involves managing multiple accounts across multiple platforms, using a social media management platform to track your KPIs will make your job easier.

Tools like Hootsuite make collecting, cracking, and sharing data both efficient and effective. Hootsuite tracks performance analytics for all of your social channels and organizes the data into comprehensive analytics reports for you.

Hootsuite Analytics

Source: Hootsuite

Hootsuite's analytics reports are fully customizable collections of data that show the data you need. You can generate reports for individual social accounts or for all social platforms used by your brand.

The user interface is interactive – no manual data entry is required. You can simply drag and drop all of the items to create a unique report that suits your needs.

For more information on using reports in Hootsuite, see our YouTube video:

Use Hootsuite to get all of your social media reports from a single dashboard. Choose what to track, get compelling graphs, and easily share reports with stakeholders. Try it for free today.

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All your social media analytics in one place. Use Hootsuite to see what's working and where you can improve performance.

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