Measuring success on social media depends on your goal. You must track the metrics that show progress toward that goal. That is the only data that is meaningful.
This requires that, as you formulate your strategy, you also define how you will measure progress. Here are some ideas for measures that might make sense.
3 Metrics to Avoid
Generally, likes aren’t insightful measures. People mindlessly like things, and those clicks don’t tell you much. In fact, search engines have reduced the credibility assigned to a brand based on likes.
Website traffic is another commonly used, but incomplete, metric. Traffic alone does not tell you about who is visiting and what they are doing. Dig deeper.
Overall, people lurk more and comment less. Measuring your success against the average number of comments will only confirm that you are impacted by this trend like everyone else. There’s no great insight to be gained.
3 Metrics to Consider
Share of Voice
Monitor mentions of your brand and the “voice” of these mentions – positive, negative or neutral. A tool like Social Mention can assess your brand’s mentions in comparison to your competitors. You can also look at the best performing competitors for insight and ideas.
Customer Service Provided
People expect to connect with brands for customer service. Monitoring how well you do in that category can be a bellwether for your brand overall. Track issues, platforms used by customers to raise them, and, most importantly, response time. In general, the faster the response time, the higher the customer satisfaction.
Website Traffic Sources and Conversions
Social media should be used to drive interest in your brand and traffic to your website. Pay attention to your website traffic sources to make sure your social efforts are proportional to the traffic generated.
Further, track these visitors against your site conversion goal. Whether you want sign ups for your email list, a product sale, or some other action, watch your conversions. With Google Analytics, you can define and track your website conversion goal.