Small business brands have, in the recent years, managed to level their marketing playing field through social media. With the use of clever strategies and the help of the experts at FAMOID, small brands can run inexpensive campaigns that show impressive metrics.
Which Metrics Matter?
Even though all metrics matter, some are more important than others. Counting likes, shares and retweets are not enough metrics to show the ROI of a campaign.
There are four important stages in the social media metric funnel and each has statistics that can show how effective each campaign is.
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Awareness metrics include:
Brand Awareness metrics which measure @mentions, shares, likes and impressions through the time the campaign is run. There are tools that can track every one of these mentions on social media.
Another set of important metrics in this category is the Audience Growth Rate and it measures the rate with which followers are gained for a brand. These followers have to be tracked across each individual platform that the campaign is run.
Post Reach metrics allow marketers to present the right type of content at the correct time to the targeted audience. Potential reach is also an important metric since audience expansion is an important aim for any social media campaign.
Brand mentions also need to constantly be compared with those of competitors and are called Social Share of Voice (SSoV).
Measuring the numbers of followers of a brand that actually take actions of engagement is also a metric that is essential to every brand. The Average Engagement rate proves that a campaign is resonating with the audience and is seen in the number of shares, likes, and comments. Instagram has the highest engagement rate of all the social media channels.
Another metric that is useful to know is the Amplification Rate, which is the rate which followers share the content through their social media networks, showing their willingness to be associated with the brand.
The rate at which a post goes viral, creating unique views is an important metric showing the success of the campaign.
This set of metrics is the ones that demonstrate how effective a social media campaign is and the first one that everyone looks at is the Conversion Rate. This is related to the number of actions taken after clicking on a link in the post and can include subscribing to a newsletter, reading up on a product and its reviews, etc. These metrics can be high even if the there is low traffic and show that the content is valuable.
Click-Through Rate (CTR) shows the call-to-action clicks on a post taking the audience to additional content. If the audience leaves quickly without taking any action it is called a bounce rate and if there is a low bounce rate it proves that the social media campaign is reaching the right audience.
Cost-Per-Click and Cost-Per Impressions should always be measured and they should not be allowed to run unattended. CPM is a faster and cheaper way to test content. Social Media Conversion and Conversation Rate show how a campaign resonates and causes a conversation.
These important metrics show how customers feel about a brand and include customer testimonials, customer satisfaction score and net promoter score. Customers that are satisfied with a brand are more likely to share their experience leading to trust and credibility for the brand.
Why Famoid.com is the top tool for social media metrics that perform
The metrics above are easier for huge corporations, with their large marketing departments, to keep track of in order to measure the effectiveness of their campaigns. The smaller brand today needs a potent tool that will help carry a campaign through from beginning to end and will take it from so-so to wow in no time.
Famoid is the ultimate tool for pushing these metrics to new limits and small brands can now play on the same playing field as the big brands. The active support teams at Famoid are ready to instantly help and provide solutions to any queries and problems and are available 27/7. A multitude of excellent social media services across Facebook, Instagram and YouTube help create and retain a following with the certainty of s good amount of shares and interactions.
Smaller brands can now all have social media metrics presented to them. These are easy for anyone to understand while also adding importance and value to every campaign, boosting ROI to new levels.