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By focusing on the most important metrics, you can set clear goals and track your progress

The use of social media by businesses and organizations has become a high priority. Bringing business on a platform that has a huge user base can get more reach, build brand awareness, and generate leads and sales. They can communicate with their clients, promote their goods, inform their followers, and much more. A solid social media presence must first be developed over time before it can yield rewards. This is where the importance of metrics comes in.
 
Social media metrics are the set of data you use to determine the effectiveness of your social media strategy and campaign and know your online presence. Different social media platforms already provide you with lots of information about the way people are discovering and interacting with your brand page. Let’s look at important social media marketing metrics you must track to make sure your business performs well.
 
Reach
Reach is simply the number of people who saw your content, post or campaign. This is an important metric because it tells you when you reach a new user and they get to know about you. Remember to distinguish reach with your followers and non-followers which will help you to target better. If you have 1000 followers and each of them sees your content two times, your reach is still only 1000. Remember not to confuse reach with impression and engagement, which brings us to the next metric.
 
Impression
Impressions refer to the number of times people saw your content. Impression can be higher than reach because the same person might look at your content twice or more. Now if you have 1000 followers and each of them sees your content two times, your reach is 1000 but your impression is 2000. This is another important metric to measure as it helps you know the interest rate of your audience and can help you discover your customer's sweet spot.
 
Engagement
Your post was seen (Reach) by your audience, it was reviewed (impression), now it’s time to know their reaction. Engagement is the next most important metric to measure your performance. Reactions, comments, shares, retweets, subscriptions and various other social media terms are used for audience engagement. This can help you understand what type of content resonates with the audience and help you target better. Engaging content helps to keep a brand relevant while receiving instant feedback.

Also read: How To Drive Consumer Engagement Using Interactive Content?
 
Click Through Rate (CTR)
 You can also track your engagement by measuring your click-through rate. Click-through rate, or CTR, is how often people click a link in your post to access additional content. That could be anything from a blog post to your online store. CTR is calculated by dividing the number of clicks on your link by the number of impressions. If you have a high click-through rate that means you are providing content that people find interesting and want to engage with.
 
Cost Per Click (CPC)
 In simple terms Cost Per Click or CPC is the amount of money it costs you for each click on one of your ads. The basic formula for calculating your CPC is to divide the total money spent on your ads by the total number of times the ad was clicked on. CPC is helpful when determining if your investment is worth continuing.

Also read: How To Find Your Audience With Targeted Social Media Ads?
 
Referrals Traffic 
Referrals are a way to track which social media platforms are performing better. It is the source from which a user came to your website or landing page. This will show which social media accounts are driving traffic so you can adjust your strategy accordingly. Google Analytics will provide you with a breakdown of your traffic from each social media platform.
 
Social Media ROI
Calculating your social media ROI is an important metric for your business as it helps you analyze what you get from what you invest in. If you are spending well on your social media campaigns it should generate an equal number of leads and sales. For example, if you invest 100 bucks in an ad campaign, and that campaign generates 200 bucks in sales, your profit is 100 bucks, and your ROI is 100%.
 
Social media platforms provide you with a lot of data about your audience. These metrics can help you track your performance. By focusing on the most important metrics, you can set clear goals and track your progress. With the growing importance of this, most social media platforms have their native analytics for you to measure your performance. For Facebook, you’ll find them in the Insights tab. On Twitter, you navigate to Twitter Analytics. On Instagram and Pinterest, you’ll need business accounts before you’ll be able to see your data.
 
Not happy with your social media ROI? Find digital agencies providing performance marketing services to help you track your social media marketing progress and lack, on afaqs! Marketplace, now.