Usually, when we talk about performance indicators for social media, we try to tie those metrics back to business objectives like lead generation and conversions. However, the KPI’s with a clear relation to conversions aren’t the only metrics your social networks are generating.
Soft KPI's, such as likes, comments and shares, are still very important for growing your social media presence and improving your engagement. Unlike clicks and conversions, social media engagement can be tough to link to ROI, but that doesn’t mean there aren’t benefits to tracking and optimizing it. Engagement may sound abstract, but it doesn’t have to be so difficult to track.
Here are the 3 KPIs you need to measure for engagement on both Facebook and Twitter.
The KPIs You Need to Pay Attention to on Facebook and Twitter
Likes and favorites
The like and favorite functions allow users to acknowledge your post or page and show you that they found your content valuable. With 44% of Facebook users “liking” content posted by their friends at least once a day, likes and favorites will be your engagement metric with the highest numbers. This makes it useful for measuring how well each post performs when your other metrics are too small to show enough of a difference.
In terms of engagement, comments on Facebook and replies on Twitter are a step beyond likes and favorites. When your audience comments on a post or replies to a tweet, they are opening a dialogue that allows you to reach new levels of customer relations.
Shares and retweets
Shares (Facebook) and retweets (Twitter) are the holy grail of social engagement. The best way to organically grow your social media reach is through your existing followers. Creating content designed to optimize shares and retweets allows you to leverage your follower’s audience and reach new potential leads.
Facebook and Twitter Engagement: Deeper than ROI
When done right, engagement should always be leading towards a purchase. Optimizing the way you engage with and generate these “soft leads” will help fill your sales funnel when they eventually develop into MQLs (Marketing Qualified Leads). Keeping track of engagement metrics such as likes, comments and shares can help you test and optimize these types of engagements.
However, just because it's difficult to track this engagement back to real revenue, doesn’t mean it's impossible. By using a social media platform with built-in analytics, you can keep track of the transition from social media engagement to paying customer. For a more accurate view of social media ROI, integrate these key KPIs into your analyses and learn whether or not you’re getting through to your audience.