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9 Tips for using social media analytics to track engagement

Social media analytics are a powerful tool for helping you understand what’s working and what isn’t with your social media accounts. They allow you to track metrics like engagement, reach and audience demographics, as well as compare performance across different platforms.

Here are the most important social media metrics to track in 2023

1. Reach
Reach is simply the number of people who see your content. It’s a good idea to monitor your average reach, as well as the reach of each individual post, story, or video.

A valuable subset of this metric is to look at what percentage of your reach is made up of followers vs. non-followers. If a lot of non-followers are seeing your content, that means it’s being shared or doing well in the algorithms, or both.

2. Impressions
Impressions indicates the number of times people saw your content. It can be higher than reach because the same person might look at your content more than once.

An especially high level of impressions compared to reach means people are looking at a post multiple times. Do some digging to see if you can understand why it’s so sticky.

3. Audience growth rate
Audience growth rate measures how many new followers your brand gets on social media within a certain amount of time.

It’s not a simple count of your new followers. Instead, it measures your new followers as a percentage of your total audience. So when you’re just starting out, getting 10 or 100 new followers in a month can give you a high growth rate.

But once you have a larger existing audience, you need more new followers to maintain that momentum.

To calculate your audience growth rate, track your net new followers (on each platform) over a reporting period. Then divide that number by your total audience (on each platform) and multiply by 100 to get your audience growth rate percentage.

4. Engagement Rate
Engagement Rate measures the number of engagements (reactions, comments and shares) your content gets as a percentage of your audience.

How you define “audience” may vary. You might want to calculate engagement relative to your number of followers. But remember that not all your followers will see each post. Plus, you might get engagement from people who don’t (yet) follow you.

So, there are multiple ways to calculate engagement. So many, in fact, that we dedicated a whole blog post to the many ways to measure engagement rate.

5. Video views
If you’re creating videos (you’re creating videos, right?), you want to know how many people are watching them. Each social network determines what counts as a “view” a little differently, but usually, even a few seconds of watch time counts as a “view.”

So, video views is a good at-a-glance indicator of how many people have seen at least the start of your video, but it’s not as important as…

6. Click-through rate (CTR)
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 gives you a sense of how many people saw your social content and wanted to know more. It’s a good indicator of how well your social content promotes your offering.

To calculate CTR, divide the total number of clicks for a post by the total number of impressions. Multiply by 100 to get your CTR as a percentage.

7. Conversion rate

Conversion rate measures how often your social content starts the process to a conversion event like a subscription, download, or sale. This is one of the most important social media marketing metrics because it shows the value of your social content as a means of feeding your funnel.

8. Cost-per-click (CPC)
Cost-per-click, or CPC, is the amount you pay per individual click on a social ad.

Knowing the lifetime value of a customer for your business, or even the average order value, will help you put this number in important context.

A higher lifetime value of a customer combined with a high conversion rate means you can afford to spend more per click to get visitors to your website in the first place.

You don’t need to calculate CPC: You can find it in the analytics for the social network where you’re running your ad.

9. Cost per thousand impressions (CPM)
Cost per thousand impressions, or CPM, is exactly what it sounds like. It’s the cost you pay for every thousand impressions of your social media ad.

CPM is all about views, not actions.

Again, there’s nothing to calculate here—just import the data from your social network’s analytics.

 

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