What is Social Media Marketing?
Before we dive into social media metrics and analytics, it’s essential to first have a solid background in social media marketing.
Having smart mobile devices and fast 4G wireless networks gave way to the vast and rapid creation and distribution of content. In the 21st century, the COVID-19 pandemic is one of the adversities that limited face-to-face human interaction and forced us to utilize the digital space more.
It affected people and businesses alike who struggled to build human connections. Going outside is strictly prohibited and our gadgets and internet connection are all we have to connect with other people. However, life must go on.
In 2020, from over 3.6 billion people using social media, over two billion people purchased goods through online platforms. This tells us that everyone is now present online.
People are now using social media not only to communicate but also to buy and sell and the first step in buying or selling a product is to know (as a buyer) and to let people know (as a seller) that the product or service exists. In other words, awareness is essential.
Here’s where social media marketing comes in.
With social media marketing, more businesses will be made and be able to thrive. It allows them to get traction by spreading brand awareness and sharing value-packed content to their followers to easily convert them into loyal customers.
Business owners can conveniently listen and engage with their followers to know their problems and deliver solutions to them.
The history of social media marketing started from simply publishing content such as blogs to generate traffic and drive sales to their website. It soon blossomed into a lot of branches such as social media listening and engagement, advertising, and analytics.
What are Social Media Metrics and Analytics?
Understanding social media metrics and analytics are essential to your marketing strategy.
Metrics are simply the numbers that help measure the performance of your social media posts. Examples of metrics are key performance indicators or KPIs.
On the other hand, analytics gather and analyze the metrics in order to aid in identifying what works and what does not work to make smart decision making.
Examples of platforms you can use are analytics, marketing automation, and social media management platforms so you can properly evaluate your social media marketing efforts.
The Basics of Social Media Metrics and Analytics
This metric measures how active your audience is engaging with your content and how effective your brand campaigns are.
This includes how many likes or reactions your post gets, how many people replied in the comments, how many people shared your content with their friends and how many people clicked on the link on your post. This metric may vary from one platform to another.
For example, Twitter has retweets, Facebook has different reactions and Instagram has a save feature. High engagement rates mean you have real followers that benefit from the content you put up. It would be helpful if you will find similarities between your high-performing posts.
Impressions and reach.
These two are important to analyze if you want to increase your health business’ brand awareness and perception. Impressions and reach are two concepts that are often interchanged, so let’s make it simple. Impressions give us an idea of how frequently a post shows up in a user’s timeline, while reach describes the number of potential unique viewers your post can have.
Analyzing engagements, impressions, and reach will help in knowing whether your social media posts are increasing brand awareness and educating your target audience.
Having a high number of impressions but a low number of engagements indicate that you were not able to persuade your audience to take action after seeing your post. On the other hand, having a high number of accounts reached and a high number of engagements indicate that your target audience was able to retweet and share your content to make it become viral.
Referrals and Conversions.
These two important metrics help you know whether you are getting a return on investment for posting content online. Referrals primarily describe how visitors land on your website.
Usually, referrals come from different social media networks. On the other hand, conversions describe how many visitors or followers were converted into buyers.
This is important to track for health business owners who own an eCommerce store and/or company websites. A related metric that is measured is click-through rate. This describes the ratio between the number of people who click on your post versus the number of impressions you got from your post. This is important for social media advertising, email links, and call-to-action buttons.
Response Rate and Time.
Aside from focusing on the performance of your posts, it is also important to observe your follower’s experience with your brand. This metric focuses on how fast you reply to your customer’s queries and concerns and how useful your reply has been.
It is important to nurture your existing customers to convert them to loyal supporters. Remember that your aim is not only to get more customers, but to also retain your previous customers, and most of all, make them have an amazing experience with your health and wellness brand.
I hope this was helpful for you wherever you are in your business journey.
If you need help with your social media marketing strategy, contact me for a FREE consultation call here.