18 Key Social Media Metrics to Track in 2023
Social media has become an integral part of modern-day businesses. With millions of users worldwide, social media platforms have opened new doors of opportunities for businesses to connect with their customers and target audience. However, with so much competition on social media, it’s essential to track the performance of your social media campaigns to ensure that they are effective in achieving your business goals.
Tracking social media metrics can help businesses understand what works and what doesn’t, and identify opportunities for improvement. In this article, we’ll discuss the 18 key social media metrics that businesses should track in 2023.
Most Important Social Media Metrics to Track in 2023
Reach is the total number of people who have seen your social media content. This metric is crucial because it gives you an idea of the size of your audience. Tracking reach can help you determine how effectively your social media content is reaching your target audience.
Impressions refer to the total number of times your social media content has been seen. Impressions are not unique, meaning that one person may have seen your content multiple times. Tracking impressions can help you measure the overall visibility of your social media content.
Engagement refers to the total number of likes, comments, shares, and other interactions your social media content has received. Tracking engagement can help you determine how well your social media content is resonating with your audience. High engagement rates indicate that your content is relevant and interesting to your audience.
4. Click-through Rate (CTR)
CTR is the percentage of people who clicked on a link in your social media post. Tracking CTR can help you measure the effectiveness of your social media campaigns in driving traffic to your website or landing pages.
5. Conversion Rate
Conversion rate is the percentage of people who completed a desired action, such as filling out a form or making a purchase, after clicking on a social media post. Tracking conversion rate can help you measure the effectiveness of your social media campaigns in generating leads and sales.
6. Bounce Rate
Bounce rate is the percentage of people who visited your website after clicking on a social media post but left without interacting with any other pages on the site. Tracking bounce rate can help you identify potential issues with your website or landing pages that may be causing people to leave without taking any action.
7. Time on Site
Time on site is the average amount of time visitors spend on your website after clicking on a social media post. Tracking time on site can help you measure the effectiveness of your social media campaigns in engaging visitors and encouraging them to explore your website further.
8. Follower Growth
Follower growth is the rate at which your social media audience is growing. Tracking follower growth can help you measure the effectiveness of your social media campaigns in attracting new followers and expanding your reach.
9. Share of Voice
Share of voice is the percentage of mentions of your brand compared to your competitors on social media. Tracking share of voice can help you measure your brand’s visibility and reputation on social media.
10. Sentiment Analysis
Sentiment analysis refers to the overall sentiment of social media mentions of your brand, whether positive, negative, or neutral. Tracking sentiment analysis can help you measure the perception of your brand on social media and identify potential issues or areas for improvement.
11. Audience Demographics
Audience demographics refer to the age, gender, location, and other demographic information of your social media audience. Tracking audience demographics can help you understand your target audience better and tailor your social media content to their preferences.
12. Influencer Reach
Influencer reach refers to the total number of followers and the engagement rate of influencers who have shared your social media content. Tracking influencer reach can help you measure the effectiveness of your influencer marketing campaigns in reaching a wider audience.
13. Social Listening
Social listening is the process of monitoring social media channels for mentions of your brand, products, competitors, or industry trends. By tracking social media mentions, businesses can gain valuable insights into customer sentiment and feedback, as well as identify opportunities for improvement or areas of strength. Social listening can also help businesses stay up-to-date on industry trends and changes in customer preferences, allowing them to adjust their social media strategies accordingly.
14. Customer Service Response Time
Customer service response time is the average time it takes your business to respond to customer inquiries or complaints on social media. Tracking customer service response time can help you ensure that your business is providing timely and effective customer service on social media.
15. Cost Per Click (CPC)
Cost per click is the average cost of each click on your social media ad. Tracking CPC can help you measure the effectiveness of your social media advertising campaigns and identify areas for optimization to reduce costs.
16. Return on Investment (ROI)
Return on investment is the overall financial return on your social media campaigns, taking into account the costs of advertising and other resources used. Tracking ROI can help you measure the effectiveness of your social media campaigns in generating revenue and determine if your efforts are providing a positive return on investment.
17. Video Engagement
With the rise of video content on social media, tracking video engagement can help businesses understand how their video content is performing. Metrics to track include views, watch time, and engagement rates such as likes, comments, and shares.
18. Brand Awareness
Brand awareness is the level of recognition and recall that consumers have for your brand. Tracking brand awareness on social media can help businesses understand how well their social media campaigns are increasing brand recognition and recall.
Tracking social media metrics is critical to understanding the effectiveness of your social media campaigns and identifying opportunities for improvement. By measuring these key social media metrics, businesses can optimize their social media campaigns to reach their target audience effectively and achieve their business goals.