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What are the social media metrics you use to determine how your business is going online? While social media metrics are an elusive skill that has to be honed in order to use properly, there are a few different ways to benefit from social media metrics to track and discover how your promotional efforts are working.
Just keep in mind as we go through some of the different social media metrics below that changes can be made based upon your industry, process, and final goals for your business.
How To Use Social Media Metrics
1. Traffic- Do you get a lot of traffic from social media? How many visitors per month come to your site from Facebook, Twitter, LinkedIn, and other social media sites? Experts are always squawking about quality traffic and traffic from social media sites where they have connected with people can generally be considered quality.
2. Conversions-What do you consider a conversion? My social media conversions are email sign ups. It is 10 times easier for someone to purchase my products when they are on my list than a random visitor coming to my blog or website. Email sign ups are also more likely to return to my blog. What is your definition of a conversion? When you decide upon that definition go all out to increase this as much as possible through various social media strategies.
3. Engagement-How much does your network engage with you? Do you see higher engagement on one social network versus another? My engagement on Twitter is higher than on Facebook, even though I spend more time on Facebook. I find clients faster on LinkedIn, however, than I do on Facebook and Twitter. My engagement on LinkedIn is extremely low. So, this figure, while a useful guiding factor, is not necessarily correct all the time.
4. Sales-Yes, it is all about the “Benjamin’s” I hear many exclaiming excitedly as they read this post. While it is definitely important, sales are a result of everything you do up to that point. Not the only reason for working. Respond properly to your metrics and the sales will take care of themselves.
5. Network Size-I know the old argument of quality over quantity here. I am not going to argue in the comments below with some wise-cracker who decides to tell me that they know someone who has a list of 10 people and make $100,000 from that list annually. However, for the rest of humans having a larger quality list generally means a larger pool of clients to work with and purchase your products. Can anyone disagree with the idea of having 100,000 buyers versus 10,000, if all other factors remain the same?
Social Media Metrics Explained
Social media metrics are a great way of understanding where you are, so you can improve your social media abilities in the future. The more you use social media to engage your clients and prospects, the more you will understand how the social media metrics listed above can help you grow your business. What is your favorite social media metric? Why? Share this social media metric below.