It’s no surprise that businesses are utilizing social media more than ever in 2016. As social platforms continue to grow, businesses are continuing to grow with them.
That said, it is not uncommon for organizations to have a presence on every social platform across the board – LinkedIn, Facebook, Twitter, Instagram, Pinterest, SnapChat, Google+, YouTube – just to name a few. Content is constantly being created and posted, and with so many channels to keep up with, social media management can be overwhelming.
With everything that is being posted and pushed out to the social-world, how do companies track their social efforts and define what should be reported on to help move their social media strategy, and overall company welfare, in a productive direction?
Most social platforms offer some form of available insights to see how many views, clicks, likes, shares, etc., your page or post gets. While those numbers are important to keep track of, they only show a glimpse into the metrics that really should be tracked in regards to moving a brand forward through social media efforts. To dig deep into measuring how your social media efforts are impacting your brands performance, you need to make sure you are observing more than just the shallow provided numbers.
Here is one simple tip to help you get started on thinking differently and reporting on your social efforts more effectively: track follower engagement in comparison to your number of followers.
Numbers need context to mean anything. A report might show that you got 50 likes last month on your Facebook posts – great! Some might choose to accept the 50 likes and move on to the next reported statistic. However, take a second look at that number and compare it to your 400,000 followers – still so great? Probably not.
Getting into the habit of using the following conversions can help you to see the reported numbers in a different light and how your brand is actually influencing its followers:
Applause rate % = (total # of likes on posts ÷ total # of followers) x100
Tracking your applause rate will show how many of your followers are actually interested in your post enough to engage with it.
Amplification rate % = (total # of times posts were shared ÷ total # of followers) x100
Tracking your amplification rate will provide insight into how many of your followers find your post interesting enough to share to their networks.
Conversation rate % = (total # of comments on posts ÷ total # of followers) x100
Tracking your conversation rate will show how many followers feel strongly enough about your content to speak to it.