Social Media is an integral part of any digital marketing strategy. Its success doesn’t only imply getting likes, shares and followers. Various social media campaigns are carried out to fulfil certain objectives – business objectives, social objectives, anything that drives us consumers to take action – either by signing up, calling or enrolling.
In this blog, we will break down the most important KPIs (Key Performance Indicators) that we at Step Digital focus on, guaranteeing measurable and impactful results to the customers.
Understanding Social Media KPIs and Their Importance
KPIs are measurable values that demonstrate the effectiveness of various strategies of a company in achieving its objectives. Its tracking depends on data-driven decisions that act as benchmarks for success. By tracking the KPIs, the company can improve engagement, conversions and customer satisfaction.
To set the KPIs, one needs to know what the goals of a campaign are:
- Brand Awareness
- Drive website traffic
- Sales conversions.
To better understand, let’s take an example of a manufacturing company – aiming to promote its new sister company –‘xyz’, focused on logistics and exports. When ‘xyz’ partners with Step Digital, for the creation of high-quality social media campaigns aimed at increasing awareness and driving website traffic to the new sub-company, we at Step Digital set certain measurable KPIs to measure success at each step.
Engagement Rate: Measuring Interaction with Eco-Friendly Content
Step Digital creates engaging posts showcasing the product line or services that the new company has to offer. This is done using visually appealing content that resonates with the audience’s needs. We then track the engagement rate on various social media platforms – shares, comments, and reactions to validate whether the campaign approach is a success or failure.
Expanding Awareness
The team then monitors the reach to determine how many unique users see the post and how frequently are they viewed, even by the same users.
A large reach suggests that the posts are being distributed widely, bringing in new customers. At the same time, high impressions signal that users are seeing the posts multiple times – leading to brand awareness.
Click-Through Rate (CTR): Tracking Interest
Each post includes a link to the ‘xyz’ website. The CTR is tracked to know how many users are curious enough to visit the website.
An effective social media campaign demonstrates a strong CTR, whereby the content is effective enough, in generating interest, leading users to click on the link.
Conversion Rate: Accessing the Product/Service Purchased or Opted
Step Digital carefully tracks the conversion rate – by monitoring how many users have signed up and filled the form or have contacted on the sales number to carry out the purchase or book of the services.
A high conversion rate shows that the social media campaign is a success, converting traffic into sales.
Building an Eco-Conscious Community
Throughout the campaign, Step Digital observes and interacts with the followers and leads to build a common community that can work together in promoting certain sustainable mission that are in alignment with the company’s goals and objectives.
Social Share of Voice (SSoV): Expanding Brand’s Position
Social share of voice (SSoV) is a marketing metric that measures how much a brand is being discussed on social media, when compared to its competitors.
Step Digital tracks the SSoV to find the brand’s positioning among the leading names in the industry and how our company is being seen. Changes and modification to the campaign is then carried out depending on the SSoV.
Understanding Customers Feedback
Through the comments left on a particular social media post, Step Digital accesses the sentiments of the people towards the company and the brand.
Positive feedbacks contribute to the company’s successful campaign, whereas negative feedback demands improvement in the campaign and how the company portrays itself as.
Cost Per Click (CPC) and Return on Ad Spend (ROAS) – Maximizing Ad Budget Efficiency
Step Digital invests in paid social media ads to promote the brand and its products or services. We monitor the CPC to keep the add cost low and ROAS to ensure that each dollar spent on ads are generating profitable returns.
Conclusion
Step Digital – A leading Social Media Management Organization outlays the Key KPIs based on the company’s vision and aim. The KPIs are then tracked to gain a full understanding of the campaign’s performance. Its efficiency is then boosted with Paid Ads to reflect higher profitable returns.
Our skilled team handles everything from post-curation for campaigns to setting and monitoring KPIs, making adjustments to meet the needs of your ads. We help your brand or company stand out from the competition. Trust Step Digital for all your social media handling needs.