ROI on social channels is notoriously difficult to track, but here, Socialnk will offer you five tips to get you going in the right direction. With these five simple metrics, you can track whether your campaign is a hit, or if you need to change tack.
Check the bounce rate
Far too often, social media managers focus on click through rates and nothing else. Whilst that’s useful tool, it can be meaningless. By comparing the bounce rate of users directed to the site by social channels, you can identify just what value your social media activity has.
You can compare how your social channels do compared to other ways of attracting traffic and see whether users are more engaged with your brand coming from social media, that’s often the case when compared to traffic from Google and other ads.
Don’t forget the competition – especially with mentions
Tracking your mentions is a great way to follow engagement, but it is almost meaningless alone. Tally up the number of mentions of your brand, and then compare that with your direct competitors.
By doing this, you can see how much of the market share you are dominating when it comes to social media. If you’re bossing the online world, it gives you a great platform.
Aim for a high comment conversion rate
Developed by digital marketing expert Avinash Kaushik, this conversion rate compares to the ratio of comments per post to the number of overall followers.
This can be applied to all different social media networks and really helps you to identify whether you are achieving the most valuable goal of all – starting a conversation.
Shares don’t mean everything, amplification does
Kaushik also came up with another crucial way or tracking social success with his amplification rate. That involves the ratio of shares per post to the number of overall followers.
Your followers have already committed to linking their unique social profile to your brand, but are they ready to share that interest with their wider circle?
Make likes meaningful
For many, likes are little more than a vanity project for a social media manager. That’s not the case though, and Kaushik’s applause rate reflects that. This time, it is the ratio between likes per post and the number of followers.
This offers context to the most basic of metrics and will show just how much of your audience are enjoying the content that you are creating.
Using these measurements, you can easily show the importance of social media to your brand and help to take your social channels to the next level.