Social media marketing has become an essential part of any business's overall marketing strategy. With over 4.9 billion social media users worldwide and users spending an average of 2 hours and 24 minutes per day on social media platforms, having a presence on social media is crucial for reaching and engaging with your target audience.
However, simply having social media accounts is not enough. To prove the success of your social media efforts and optimize your strategy, you need to track key performance indicators (KPIs). The right social media KPIs demonstrate how your social media page and campaigns are performing, where improvements can be made, and how social media is contributing to key business goals like driving website traffic, boosting brand awareness, increasing sales, and improving customer satisfaction.
In this article, we’ll explore the most important social media KPIs that social media marketing managers should be tracking in 2024, so you can start measuring the impact of your social media marketing efforts and take data-driven action to maximize results.
As social media managers juggle different platforms with tight schedules and limited resources, it's important to zero in on the key metrics that have the most impact. Tracking the right KPIs:
In short, social media analytics and KPIs transform campaign data into actionable insights that lead to better marketing results over time.
With so much data available, the key is identifying the right KPIs for social media managers to pay attention to depending on the social media platform. Here are some best practices as you determine the KPIs that should be part of your social media marketing strategy:
Now let’s explore some of the most important categories of social media KPIs to track.
Reach metrics indicate the size of your social media audience and the potential for content to be seen by more users. These KPIs help quantify brand awareness and set expectations for possible engagement and conversions.
The number of social media followers measures the current size of your branded social media community on networks like Facebook, Instagram, LinkedIn, Twitter, YouTube, and TikTok. While raw follower numbers demonstrate reach, it’s important to track both:
Setting goals around your follower count and acquisition and tracking growth week-over-week and month-over-month provides key context into the health of your community. Across all social media metrics, this is likely the most commonly tracked.
Impressions quantify the number of times any content associated with your account is displayed to users. This includes:
Monitoring impressions demonstrates your brand’s overall reach and can help identify types of content that resonate best with your audience.
Whereas impressions track potential reach, metrics labeled simply “reach” measure the number of unique accounts that actually saw your content over a given period of time. Key reach KPIs are:
Assessing reach identifies saturation amongst your existing audience and the potential to extend beyond your current follower base.
While reach metrics show the size of your potential audience in terms of social media users, engagement metrics and KPIs measure actual interaction with your content. Monitoring these demonstrates audience sentiment and helps identify the types of content and messaging that resonate best with followers.
Likes show endorsement and provide baseline engagement data. Track:
Likes should not be analyzed in isolation. Compare them to impressions and reach to calculate the engagement rate for fuller context.
Comments indicate users felt compelled to share reactions, responses, and additional remarks. Useful comment KPIs include:
When users repost content to their personal profiles, it extends reach to new audiences and demonstrates content is valuable enough to actively recommend. Key metrics around social sharing are:
Mentions occur when other users reference your branded hashtag, handle, page, or content directly. Track:
Click-through rate (CTR) measures those who clicked links within your content, indicating interest and intent to take action. Monitor:
High click-through and low bounce rates signal content and landing pages align with audience expectations and needs.
While reach and engagement provide useful context, conversion metrics directly demonstrate how social media impacts business growth. Monitor these KPIs to quantify ROI and optimize efforts to drive more tangible value.
Active lead generation calls-to-action provide a way to capture interested followers and nurture them into happy customers. Track conversions like:
Set goals around overall conversion volume and conversion rate to identify the most effective offers.
Where possible, actively monitor and attribute revenue generated through social channels. This might include:
Identifying income directly tied to social demonstrates tangible financial impact to justify budgets.
Customer feedback provides qualitative data to complement quantitative analytics. They're essential to ensure your social media marketing strategies align with your actual users. Actively listen and track customer satisfaction score metrics like:
NPS measures audience likelihood to recommend your brand on a scale from 1-10. Scores above 50 are considered “good.” High NPS indicates loyal brand advocates.
Ratings and reviews shared across social platforms to provide transparent feedback. Monitor:
Responding to reviews and critiques openly further humanizes your brand.
While this guide focused on 12 of the most universal and impactful measurements, your unique business goals may also make other niche social media KPIs relevant.
Some additional metrics that provide more granular insights include:
Choose supplemental metrics wisely by ensuring each provides actionable insights tied to optimization. Avoid “vanity metrics” that look impressive but offer little tangible value.
Monitoring a variety of metrics across multiple platforms takes tools more advanced than each network’s native analytics.
These tools can be especially useful for agencies working with many accounts across multiple platforms and need to track and report on metrics frequently.
While identifying and collecting relevant social media data is the first step, metrics must fuel strategic decisions and content optimizations to drive better results over time.
Review historical information to set relevant goals for future growth. Analyze both cumulative and post-by-post metrics to identify trends and outliers in performance. Look at highest and lowest engagement rates by day, time, and platform to inform content planning and ideal posting cadence.
For deep analysis and to predict key outcomes from your social media data, AI-powered analysis platforms like Akkio can help. You don’t need to be an expert in data analysis to extract key insights that could transform your social media strategy.
Compile reports on crucial campaign recaps and wins to share with stakeholders, focusing on the story that the data tells. This builds confidence in your expertise and the impact of social media marketing overall.
Let data guide decisions around budget allocation, platform focus, and program adjustments. Lean into what’s working well while eliminating ineffective initiatives or outdated content approaches.
Schedule time to reassess if current metrics still provide relevant insights as strategies evolve. Consider adding emerging platforms and listening channels.
Beyond analysis of historical data, AI-powered analysis and machine learning can transform how social media managers approach their KPIs. These technologies enable a more efficient, accurate, and nuanced understanding of social media data, leading to enhanced productivity and more strategic decision-making.
Predictive Analytics: AI tools can analyze past social media performance data to forecast future trends. This predictive capacity helps in setting realistic and informed KPI targets, such as follower growth, engagement rates, and conversion metrics.
Sentiment Analysis: Machine learning algorithms can sift through comments and mentions to gauge public sentiment towards your brand. This insight is particularly useful for customer satisfaction KPIs, as it provides a nuanced understanding of how your audience perceives your brand and content.
Audience Segmentation: AI algorithms can segment your audience based on behavior, preferences, and interactions. This targeted approach allows for more personalized content strategies, impacting KPIs related to customer engagement and conversion rates.
Automated Content Optimization: AI can identify patterns in high-performing content and suggest content strategies that are more likely to resonate with your audience. This helps in optimizing engagement KPIs like likes, comments, shares, and click-through rates.
Efficient Reporting: AI-driven tools can automate the collection and reporting of social media KPI data across various platforms. This saves time and provides a comprehensive view of your social media performance, allowing for more informed strategy adjustments.
Real-Time Analytics: Machine learning tools can provide real-time insights into your social media campaigns, enabling swift adjustments to optimize KPIs like reach, engagement, and conversions.
Content Trend Prediction: By analyzing current and emerging trends, machine learning helps predict which types of content are likely to gain popularity. This foresight can be crucial for staying ahead of the curve and maintaining a competitive edge in engagement KPIs.
Customer Behavior Analysis: Understanding the online behaviors of your target audience can be enhanced with machine learning, offering detailed insights into the best times to post, the types of content that drive engagement, and the messaging that leads to conversions.
Incorporating AI and machine learning into social media strategies offers a significant advantage in achieving and surpassing KPIs. These technologies not only streamline the process of data analysis and reporting but also provide deeper, more actionable insights. By embracing these advancements, social media managers can enhance their productivity, make more data-driven decisions, and stay ahead in the ever-evolving landscape of social media marketing.
The right social media KPIs provide tangible proof of campaign impact and opportunities for optimization, and companies need to look beyond vanity metrics to conversion and customer satisfaction data for insights on business growth.
In today’s digital landscape, data-informed social media marketing is crucial for success, which can be enhanced by AI tools. Identify and track KPIs aligned to overarching business objectives for social media success and maximum impact. With the right metrics guiding decisions, your social media efforts will demonstrate clear ROI and resonate with your ever-growing audience.