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Home > Digital Marketing Blog > Top 5 Ways to Analyze Social Media Marketing Key Performance

Top 5 Ways to Analyze Social Media Marketing Key Performance

Top 5 Ways to Analyze Social Media Marketing Key Performance
February 3, 2020

Top 5 Ways to Analyze Social Media Marketing Key Performance

Feb 03, 2020
Chiranjeevi Maddala

Chiranjeevi Maddala is an award winning digital marketing strategist with over 18 Years of experience in Digital Media and Marketing. He is the Founder and Chief Mentor at Digital Ready.


Marketing through social media has given a lot of small businesses visibility and space for advertising that they otherwise would have seldom got. The high cost of advertising in print and Television has always been a hindrance for smaller brands. There are several companies that have become famous only because of their social media marketing campaigns.

While this may be true, there is still a lot of planning and research that goes behind most successful social media campaigns. The ultimate aim of any social media campaign is to make a return on investment (ROI), which is where most brands fail.

Understanding the behavior and response of your target audience to your campaign is the formula behind making a social media campaign into a moneymaker for the company. The primary way to analyze the impact of your social media campaign is through certain Key Performance Indicators (KPI). Here are the Top 5 Key Performance Indicators that will give a clear idea about how well your social media campaign is doing.

Engagement

Engagement is one of the most essential and reliable performance indicators out there. The number of likes, shares, and comments that your social media campaign receives are some of the primary indicators of user engagements with your campaign. Even if you spend large sums of money with the intent of increasing your reach to a larger audience, there is no real gain if the numbers in terms of the user engagement rate are low.

This is also in line with how most social media algorithms work as well. A high number of likes and comments will push your content to the top of the news feeds of your followers. A high number of shares is an excellent indication that your content has connected well with your target audience. Shares also increase your visibility drastically as they ensure that your content is accessible to the hundreds of followers of the individuals who have shared your content. At the end of the day, your profile visitors should also be a healthy number.

Keeping this in mind, looking at the list of people who have shared your content on various social media platforms could also give you an indication of the reach of your campaign. Lookout for journalists, celebrities, and other influencers who might have shared your content, they could open doorways to a potential audience of millions considering the number of followers that certain individuals have on social media.

Engagements could also be in the form of tags and mentions by individuals who may be recommending your products to their followers on social media. One method commonly used by a lot of brands is to start a competition where the user would have to answer a straightforward question and use a particular hashtag and then tag the brand. The rewards offered are usually very inexpensive, like a t-shirt or a chance to meet a celebrity and click a selfie. This way, the brand gets a high number of tags, mentions, and comments, all aiding in increasing the reach of the website and the brand.

It is also crucial for you to retain your audience. Users commenting and liking on multiple posts over multiple days is an excellent indication that you can retain and bring back your target audience using your content.

Return of Interest in terms of Revenue

A high number of visitors would mean little if it is not actually translating into revenue for the brand. It is not necessary that your large number of social media followers will turn into the customers looking to buy products from your brand. Although not having any direct visitors to your website from your social media pages is also a clear indication that your campaign is not meeting its intended purpose.

It is also ideal to view a breakdown of your website traffic to see which social media platforms are giving you the maximum number of leads and visitors and analyse which platforms are not able to provide visitors. Your strategy should be to make maximum use of the platform that is giving you real leads and try changing your campaign strategy for the platforms that are not able to generate any visitors for your website. Sometimes your social media platforms may be getting a high number of visitors but they might not be converting into website traffic, try to identify the reasons and change your social media market strategy accordingly.

Audience Growth Percentage

A healthy growth percentage of your social media followers is also another indication of how well your social media campaign is doing. No growth rate, even with a high number of followers is an indication of things not going too well. One easy method to calculate your audience growth percentage is to divide the total number of audience visiting your site in a particular month by the total number of followers you have and multiply it by 100.

Number of Followers in a Month/Total Followers X 100

Compare this value with the percentage of the previous months and see if your pages have a healthy growth rate. This growth percentage can be calculated for various other factors dealing with your social media campaign like the grown rate of likes, the growth rate of shares, the growth rate of comments, etc. using the same formula.

Feedback from your Audience and Real World Impact

Going through the comment section of your social media pages will give you some of the most honest and sometimes on your face feedback. People on social media are extremely honest about expressing their opinions than any other medium. So if they hate the way you are running your campaign, some of them will go out of their way to make sure you know it. If your campaign is disastrously bad, then your brand might even get trolled for it, but hey sometimes negative publicity is also good publicity.

In today’s day and age, a campaign that has really connected with its audience could even generate a series of memes and other funny content. Durex is a brand that has been successful in doing this even in a conservative country like India. They have been successful through a series of memes on their social media pages in making people share and discuss issues related to safe sex and ultimately promote their condom brand.

Take the ALS ice-bucket challenge, for example, this campaign with the power of social media was able to make thousands of people including celebrities pour a bucket of ice-cold water on their body, which effectively became a trend. Another example can be the social media marketing campaign of the Bollywood movie “Housefull 4”, where the team started a social media challenge called the “Bala challenge”. The social media followers of the film had to perform a particular dance move done by a character named Bala played by Akshay Kumar in the movie and upload it to their social media profile using the hashtag #Bala challenge. Hundreds of social media users, including a lot of celebrities, took part in this challenge, ensuring massive amounts of promotion for the movie.

So in a lot of ways, if you run a successful social media campaign, you might also be able to see its visible effects in the real world as well.

Reviews and Star Ratings

Reviews are another major factor that could make or break your brand. Most social media platforms today have the option of reviews, where visitors can rate your social media page; these are as important as any product review on Amazon. A high average review score is also an indication that there is some credibility associated with your brand.

A healthy review score comprises not only a high average but also a high number of reviewers. This also creates positive word of mouth about your product in the world of social media. Reviews are also sometimes a Pandora’s box; there have been multiple instances of downvoting campaigns where thousands of users are mobilized through the power of social media to downvote a particular page.

There have also been numerous instances where Apps of particular brands have been downvoted on Google play store because certain celebrities endorsing the brand might have made certain controversial statements. It is also essential in such scenarios to counter master hysteria and find ways to retain the identity and integrity of your brand. It is also important to remember that your social media campaigns should also be able to make your brand name identifiable.

A great example of a campaign which was successful in doing just that was conducted by the food delivery brand SWIGGY. The company started giving discounts to customers who used the code “SWIGGYIT” while ordering food from their app. This ensures that the word SWIGGY becomes a part of the daily vocabulary of their customers.

Conclusion

All in all, having a close eye on these five key social media performance indicators will enable you to get a clear idea about how effective or ineffective your social media campaign is. Most of the times, when your campaigns are not working as expected, small changes such as adding more visual content, infographics, or other interactive methods that might keep your audience engaged might just do the trick. Hiring a social media manager is also a good option.

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