As we navigate through 2023, one trend is evident: social media is not only here to stay but continues to evolve and grow, driving business strategies and shaping a company’s reputation and reach. Social media metrics are foundational elements to leverage the potential of social channels. As digital marketers, social media managers, and brand managers, these metrics offer deeply meaningful business intelligence.
Social media metrics have found themselves center-stage in shaping business strategies. They provide insightful information allowing companies to measure the success of their social media campaigns, track ROI, and make data-driven decisions. According to the 2023 State of Social Media Report, 89% of marketers align their social media marketing strategies based on these metrics. Hence, understanding and prioritizing them should be a cornerstone of any solid game plan moving forward.
Based on a survey of 255 social marketers, here are the top 10 social media metrics that should be prioritized in 2023:
A. Follower Growth and Audience Size: These metrics give a clear picture of how your brand is gaining or losing traction on social networks over time.
B. Customer Satisfaction and Feedback through Social Media: This gauges customers’ sentiments about the brand emanating from their experiences with your products or services.
C. Awareness Metrics: Impressions and reach can reveal how far your brand message is spreading.
D. Customer Retention and Loyalty: A strong following builds not only loyalty but longevity.
E. Social Media Referral Traffic: It measures the visitors who visit your site via social media channels.
F. Brand Health Metrics: By evaluating positive and negative mentions, likes, shares, and comments, you can estimate your brand’s social health.
G. Conversion Rates: This measures the effectiveness of social media in driving users to take the desired action.
H. Social Media Engagement Metrics: Likes, comments, shares, saves, and replays are all reflective of how audiences interact with your brand content.
I. Click-Through Rates: This is a key metric to assess how effective your social media posts, ads, and stories are in driving visitors to your linked content.
J. Paid Metrics (CPC, CPM): It’s crucial to measure the effectiveness of paid campaigns in driving desired outcomes, especially in terms of cost per click (CPC) and cost per thousand impressions (CPM).
Implementing these social media metrics within your business and marketing strategy can improve customer satisfaction, increase follower growth, and amplify social media referral traffic leading to better ROI.
In conclusion, as a business striving to excel in 2023, prioritizing these social media metrics can be a game-changer. Learn, analyze, optimize, and repeat; this is how businesses grow and evolve in a world that is increasingly digital and constantly competitive. Explore more such insights on our website/blog and stay ahead in this dynamic game! Remember, data is the new oil; so, extract and refine it with precision to fuel up your social media strategies.
Up until working with Casey, we had only had poor to mediocre experiences outsourcing work to agencies. Casey & the team at CJ&CO are the exception to the rule.
Communication was beyond great, his understanding of our vision was phenomenal, and instead of needing babysitting like the other agencies we worked with, he was not only completely dependable but also gave us sound suggestions on how to get better results, at the risk of us not needing him for the initial job we requested (absolute gem).
This has truly been the first time we worked with someone outside of our business that quickly grasped our vision, and that I could completely forget about and would still deliver above expectations.
I honestly can't wait to work in many more projects together!
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