Social Metrics That Matter Today ’17
Social media has evolved into one of the most influential and effective marketing tools for brands and media companies to reach and connect with their consumers. With a total of 54 billion consumer engagements across Facebook, Twitter and Instagram from January to September of 2017 within the U.S., it has become necessary for brands to not only be present but also effectively engaged with their communities and target markets.
However, when it comes to measuring social media success, many brands today still make the same mistake of focusing on the BIG vanity number in social: Fan count. Followers will indefinitely increase overtime, but it is not necessarily an indicator of consumer interest and satisfaction, as can be seen from the data of fans v.s. unique engaged audience.
At Shareablee, we measure more than 2 billion social users globally, identifying every impression, action and click for all social media content, and have identified unique engaged audience (UEA) as the more accurate metric to measuring success. Not only is UEA a more accurate understanding of social traffic, it has also been proven to better correlate with ROI. Our research has revealed that socially engaged consumers tend to spend about 51% more throughout their lifetime than the overall population, making UEA an important KPI for overall performance.
In order to grow and remain relevant in the social media space, UEA has to grow, which begs the question: What metrics do brands have to focus on to not only retain UEA but also bring in new engaged audiences?
Quantitative v.s. Qualitative Metrics
With our endless ocean of data, from content and page engagement to the individual engager, we have narrowed social measurement for brands into two parts: Quantitative and qualitative data.
Quantitative data, the simple counting of actions, comments and shares, give brands a good idea of how well content is performing and how much interest it managed to generate. Qualitative data on the other hand allows brands to identify and plan bigger strategic goals of what their main consumers like, what drives them to engage and where their consumers are engaging when they are not on your page. Along with individual demographics data, brands can utilize this information to build effective content that both grows engagement as well as targets other markets with high affinity to the brand, expanding their market size and opportunity.
However, content creativity built on qualitative data isn’t the sole factor to a successful campaign. It is important to always follow up with the next step of using basic qualitative data to confirm the success of the content. By analyzing both engagement and shares, one can narrow down the contents that possess qualities of interest that consumers are more likely to share and recommend on social. This, in turn, would increase the content’s reach and effectiveness.
Although optimizing content is crucial to success, it is just as important to identify top performing content style and type in your competitive and industry sets. At Shareablee, we have the most well collected data sets of entire industries while also providing custom competitive data sets for more accurate analysis and comparison within an industry or a brand’s competitive space. This competitive data will aid on your journey to target the right markets with the appropriate content and build fully connected customers. After all, a fully connected customer is 52% more valuable than a highly satisfied customer.
For more details into the top metrics and KPIs that brands should watch for, download our “Measuring What Matter” 2017 webinar where we discuss the three topics:
- How to think about measurement, ‘How Many’ vs ‘How Good’ metrics and the right metrics to optimize impact and video effectiveness
- Data-backed creativity and how it can be practically applied to real-world content and campaigns
- Using social data to uncover true consumer insights and identify new profitable market segments that could transform your business – not just your social media
Download “Measuring What Matters” 2017 Webinar (Click Here)
If you are currently planning your social media efforts and wish to know more about social media measurement and analytics, feel free to contact us at firstname.lastname@example.org or request a demo and we’ll reach out to you, guiding you on your brand’s social media journey.