Social Media KPIs (Key Performance Indicators)
In these days of Big Data, everyone is interested in understanding their customers and in finding the right mix of promotions to reach them.
Hence, it becomes all the more important to comprehend the various key metrics in Social Media to assess and understand the page’s performance.
Post assessment a proper refinement and tailoring process to modify your content strategy based will help to improve the marketing. Using Social Media’s analytics one can plan how effectively relevant customers can be attracted to their business.
Which metrics to keep an eye on? :
Page Virality Factor (PVF):
To any new business, it is necessary to gain organic reach to its customers and fans online, in the beginning, the first circle of the firm will help to gain this traction. The well-wishers or friends of the company will become as its clients and invite their friends. The initial level of virality begins in this way. The K-Factor is what we define as virality in social media.
K-Factor is the metric used to measure the virality, i.e., the growth rate of customer base w.r.t time.
i = number of invites sent by each customer
c = percent conversion of each invite
k = i*c
k is the viral coefficient
Let’s see an example for calculating the Virality Factor
The fans following your brand on Social Media imply your reach without any engagement. Social Media users who follow your pages can see your content on their feed.
The best source for likes:
The likes of Facebook are gained through different sources, let’s check the insights of the Facebook for likes and its sources.
Login into Facebook, Open the page you for which you want to test the insights, Click on likes of that page, then the page populates the graph with the data and its different interpretations.
This graph shows the month wise likes of the page, we have an option to filter the results by week, month and Quarterly.
The next graph shows about the Net likes,
This includes the likes and unlikes gained by the page in for the period of time we have given.
We can see the Unlikes, Organic Likes, Paid Likes.
Now what matters is, Where your page likes Happened!
This graph shows us the sources for likes,
Page suggestions – Likes happened when the page was shown in newsfeed as suggestions
Uncategorized Desktop – Happened from a browser on a desktop
On your page – Likes occurred when users visited the page
Uncategorized Mobile – Likes arrived from mobile
API- If we have integrated any application and our page has received through the users from the application.
Likes from the API is where you can measure your third party apps performance which you use to control your Social Media, there are several apps out there to integrate your social media run campaigns, monitor and monetize it. The likes happened through the third party app which you are using can be seen from here.
So now you have a good understanding of where your likes have happened but are this information enough to make sure the strategy you follow?
No, This information is not just sufficient to estimate the success of the strategy that we are following. That’s why in Synctag we provide the analytics better than anybody else! Our analytics will help you to understand the best source of likes, by using different interpretations from the data we get from Facebook and make it in a user understandable format where you can decide how you should plan your next social media strategy.
Let’s see the analytics with Synctag
Major Fans source
Fan growth from different sources over period of time. Now you know which factor gains more number of likes and what to concentrate on.
Brand champions are different promoters of your Brand. Social Media users aware of your brand and also likes, comments and share your pages are your Brand Champions. The higher the reach, the better the Brand reach.
A quick observation on the total reach of the posts on your page on any selected duration. It can be compared with days on less engagement, analyse with KPIs and resolved.
Engagement Rate on a daily basis can make you improve the quality of the content, pic or video you post.
It’s not just enough to analyse these metrics but also to adjust your campaigns according to results.
Stay tuned on for our next blog which explains how exactly to customise your strategy based on our metrics.