Social media, when used effectively, can also become a significant revenue generator.
However, there are some negative aspects associated with people’s increased use of social media. There is always another side to a story, and that is true of this one as well. We can all agree that Instagram is the most active social media platform for brands, with 2-7% of users reacting to each post. More and more companies are realising the potential of this dominant platform thanks to its high engagement rates.
There’s a bottleneck in the participation rate because of the constant stream of new brands. There is no mistaking this decline.
The average engagement per post has dropped from 1.22% in 2019 to 0.98% in 2020, according to data compiled by RivalIQ. The worst part is that this downward trend continued quarter after quarter.
The 7 Key Performance Indicators That Reflect Real Social Media Engagement
How Many People Were Affected and How Far It Reaches
Reach and impressions are key metrics to monitor if you want to use social media to increase brand awareness.
These two concepts are frequently confused with one another. On the other hand, the post-level explanation is straightforward.
How many people you were able to reach with your message is measured in terms of “reach,” or the total number of unique accounts.
Shares
Tracking these metrics gives you a good idea of what campaigns, images, or messages engage your followers and target audience the most. On the other hand, if the viewers are not sharing the content enough, it’s a sign that your content strategy lacks the lustre.
Nearly 50% of the social media marketers use shares as a metric to determine the success of their campaigns, which makes it one of the most essential metrics to track. Yes, getting shares/retweets makes your content viral, but they don’t mean much if their impact on your business is low.
Likes
Social media engagement is a key factor in establishing credibility as a thought leader. Your audience will have more faith in you as a result.
Almost all social media platforms’ algorithms are designed to promote content that has already received numerous positive reactions from users. However, similar to shares, these comments are useless if they come from users outside of your intended demographic.
Clinks on Links
The number of people who see your social media post and click through to a specific URL is known as the “link clicks” count. In this case, the link clicks count will be 5000.
It is one of the most crucial KPIs to track because this is where the conversion happens. Unless you’re completely dependent on social media to sell your products and market your brand, you’ll want your viewers to click on the link and reach your website.
Optimal Engagement Time
Well, there’s a really good explanation for that. The vast majority of available studies online make use of pooled or aggregated data. The issue with aggregated data is that it is compiled from a wide variety of different sources, some of which may contain information about companies or individuals that are in a completely unrelated field or geographical area.
Followers
Amount of people who have chosen to follow your feed in order to read your updates. These are people who have requested more of your work because they have already found it to be enjoyable. Many would dismiss the number of followers as meaningless vanity data, but the trend of either increasing or decreasing numbers tells a story.
It’s worth looking at the reasons why the people who once liked your content don’t want it from you anymore? It tells you what the things you’re doing wrong are and how you can correct them to appeal to your followers again. And even when the count is increasing, you should ask — why? Getting more people to follow you is a top priority, so focus on those methods.
Audience Demographics
Audience demographic is a combination of multiple metrics (like location, age, gender, income, lifestyle, etc.) that helps you better understand your audience. With more knowledge, you can tailor your social media posts to your audience more effectively.
Concluding Remarks
We’ve already established that broadcasting information about your products and services through social media is a bad idea. Engagement generation ought to be your primary goal. Although it may seem simple, capturing an audience in this day and age is no easy feat.
There is a plethora of brands on social media, and each one of them has its own marketing initiative. However, you need not worry about supporting any of their political efforts. You need only get started in the right direction, and that means figuring out what your target demographic really wants.