Social media isn’t just about posting and throwing out information. It’s also about using the insights into your audience in the best possible way. All this is possible through social media analytics. (We spoke earlier about the numbers that matter to your business. But how do these numbers affect your social media funnel)
Each platform has its own simplified analysis of your page such as Facebook insights, Instagram insights and so on. You can further opt for one of the several paid, analytical tools to get a more detailed report of your audience. But if you don’t know what to look at and what metric is important to you, then the whole point of the exercise goes to waste.
To get a better understanding of this, you in-turn try to figure out of where you are in your social sales funnel.
Every layer – awareness, consideration & conversion, has its own KPIs (key point indicators) that matter.
1) Awareness Stage
This is where you are trying to create your brand value or establish your market. At this stage, you are still new and your focus at the moment is to reach as many people as possible, giving them precise information through your social media channels.
The KPIs that matter during this stage are reach, impressions, shares, mentions, links, audience growth rate.
2) Consideration Stage
Now you have started building your audience. The next step to take is to engage your audience and keep them occupied through your content. Giving them solution-based content and calls-to-action is a pathway to opt for. With call-to-actions, customers who are now considering your brand will get that extra nudge towards reaching the ultimate step, conversion, to being a customer for your brand.
Metrics such as post likes, comments, shares, saved, average engagement rate, video views, lead rates work as your biggest indicators for the same.
3) Conversion Stage
With a social media funnel, you have successfully made an approach to achieve what you set out for. Your audience is not just committed to respond on the content you offer but has now become a customer to your brand.
Conversion rate, CTR (click-through rate), bounce rate, customer lifetime value, CPA (cost per action), CPM (cost per mille), CPC (cost per click) are the ever-so-important yardsticks that will signify the success rate of your strategies and campaigns and eventually your brand.
Module for your content can be flexible depending on the study of your metrics but taking this pathway will make it easier to turn an audience into loyal customers.