October 2021
In today’s world, a new business needs intense social media promotion for it to grow. The key to proper social media development is to analyze your company’s social media performance and adjust your website SEO.It is important to maintain social media consistency so you can determine what business trends to watch and keep abreast of new marketing trends in your industry.
How to Determine What Social Media Platforms Matter To Your Business Goals
Brand Awareness
Brand awareness is the attention your brand gets across all social media platforms during a specific period. This attention can be a social media metric such as impressions, shares, mentions and links. The reporting period usually ranges from a week, month, or even a quarter. A brand monitoring tool can make this tracking easy.
You can track your social media brand awareness in a few ways:
- Decide what social media metrics your business wants connected to your awareness.
- Determine the reporting period.
- Develop social media consistency to make sure that you are matching trends with accurate data.
Audience Growth Rate
This measures the speed that your brand gains social media followers. When studying this data, you can determine if your following is increasing faster than your competition.
To monitor your business’s and your competitor’s social media followings, it takes just two steps:
- Measure your performance across all social media platforms.
- Divide your new followers across all platforms by 100 to get the audience growth percentage.
Track Conversion Rates
A conversion rate is the number of site visitors that take action on your page versus total page visitors. If you have a high conversion rate, this means that your content is intriguing to your target audience.
To track your conversion rates:
- Create a post with a specific Call to Action (CTA) link. Use a URL shortener to track it.
- Add a cookie to the user’s machine to attach the lead to a promotion.
- Use the promotion reporting data to track your total number of clicks and conversions created by the post.
- Divide these conversions by overall clicks and multiply by 100 to get your percentage rate of conversion.
Click-Through Rate (CTR)
The click-through rate tells you how often users click on call-to-action (CTA) links on your website. This is different from other social media activities such as likes and shares. Your click-through rate is directly tied to the link that brings your audience to the content.
To track click-through rates:
- Measure the total clicks on a link.
- Measure the impressions on that post.
- Divide the number of clicks by 100 to get the CTR.
Social Media Conversion Rate
This is the number of conversions that came specifically from social media. When you have a clear understanding of the effectiveness of each post in your promotion, you will know how to resonate with your target audience.
To track social media conversion rates:
- Create a link in a post with the shortened URL, placing cookies on the user’s machine.
- Measure the total number of conversions.
- Divide these conversions by the total number of other conversions, and multiply by 100 to get your social media conversion rate.
The Best Social Media Management Tools
Hootsuite Analytics can organize all your social media promotions in one place. This makes your social media analytics very simple to compare aggregate results across several networks.
Hootsuite Insights can get you the competitive intelligence you need to improve your brand strategy. The platform allows you to get an instant analysis of actual real-time conversions. You can also get insights on your target audience, plus much more.
Inner Works Pro can help grow your business and manage all its social media management needs. Contact us today to get started on your next big promotion.
