Developing a robust social media strategy involves using key performance metrics to gauge the effectiveness of content and engagement. Metrics such as Engagement Rate help determine how well your content resonates with the audience, while Reach provides insight into the overall visibility. Conversion Rate is crucial for assessing how content drives actions like purchases or sign-ups, and Follower Growth Rate indicates the growth of your online community.
Sentiment Analysis is significant as it reflects the audience's emotions towards your brand, providing a qualitative dimension to metrics. Focusing on these metrics helps in crafting targeted strategies, optimizing content, and ensuring that your social media objectives align with the desired audience impact. For instance, by using these metrics, a brand can enhance its interactive content to boost engagement and conversion.
Top 5 metrics for Social Media Strategy Development
1. Engagement Rate
The percentage of users who interacted with your content, calculated by dividing total engagement (likes, comments, shares) by the total number of followers, then multiplying by 100
What good looks like for this metric: 1-5% is average
How to improve this metric:- Create more interactive content
- Post consistently and at optimal times
- Engage with your audience regularly
- Use attention-catching visuals
- Utilise polls and questions
2. Reach
The total number of unique users who have seen your content
What good looks like for this metric: Varies by platform; monitor changes
How to improve this metric:- Utilise hashtags strategically
- Promote posts for broader reach
- Collaborate with influencers
- Engage with similar accounts
- Encourage sharing of content
3. Conversion Rate
The percentage of users who take a desired action, like signing up for a newsletter or making a purchase
What good looks like for this metric: 2-5% is average
How to improve this metric:- Simplify call-to-action steps
- Offer special promotions
- Optimise landing pages
- Retarget interested users
- Ensure mobile optimisation
4. Follower Growth Rate
The pace at which your brand's follower count is increasing, calculated monthly by dividing net new followers by total followers, then multiplying by 100
What good looks like for this metric: 3-5% monthly growth is good
How to improve this metric:- Host contests and giveaways
- Collaborate with industry influencers
- Create shareable and relatable content
- Use cross-promotions on multiple platforms
- Run targeted ad campaigns
5. Sentiment Analysis
Measures the sentiment (positive, neutral, negative) in comments and messages related to your brand
What good looks like for this metric: Varies; aim for more positive interactions
How to improve this metric:- Monitor feedback regularly
- Engage and respond to negative feedback
- Showcase positive testimonials
- Maintain brand authenticity
- Focus on improving product/service
How to track Social Media Strategy Development metrics
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your metrics.
