Highlights:

• Understanding Brand Oriented Metrics
• Understanding Revenue-Oriented Metrics
• Vanity Metrics
• How can we help you analyse your social media data to make informed business decisions?
• FAQ’s

If you have a social media for your business, you must have asked yourself this question: How do you know if your social media is supporting your marketing goals? The answer is simple: Social Media Analytics and Metrics.

B2B social media marketing metrics often vary from B2C metrics.

While in every business, tangible business results through marketing efforts are essential, for B2B business, it is crucial that the marketing Key Performance Indicators (KPIs) reported to the company managers align with the goals of the company and that there is a return on marketing investment.

According to a report by Forrester, the VP and CMO of leading B2B businesses care about quantifiable metrics that drive broader organisational goals in social media reporting.

As a B2B digital marketing business that specialises in social media, we believe in a data-centric approach and track several metrics for making data-driven decisions while designing a social media strategy for your business. The (KPIs) that we track vary according to the objective of your brand.

Social media metrics are broadly divided into two kinds: brand-oriented metrics and revenue-oriented metrics.

In this blog, we have covered top social media performance metrics that we track as a leading B2B social media marketing agency to understand the social success that allows you to set realistic marketing goals.

Understanding Brand Oriented Metrics:

Brand-oriented social media metrics are Key Performance Indicators (KPIs) that focus on evaluating your brand presence on social media. These metrics are essential to track when the goal of your business is brand awareness.

These metrics not only serve as a litmus test for the resonance of one’s brand image, but they also serve as a key barometer, measuring the extent of your audience’s interaction. We recommend keeping an eye on the following brand-oriented metrics:

• Followers Growth: Followers growth is the most basic metric to track in social media. Follower growth refers to the number of new followers you have gained. This metric is essential to gain valuable insight into your social media strategy and for keeping a check if it aligns with your target audience’s expectations.
  
  
• Engagement: Engagement is a broad statistic in terms of marketing analytics. The metrics used to track interaction differ depending on the social media site. Social media engagement includes page likes, shares, comments, and any other type of connection your audience has with companies.
  
  Engagement guarantees that your material is high quality and relevant to your target audience.
  
  As a B2B SMM company, we measure page likes, shares, reposts and comments as audience engagement metrics for Instagram, Facebook and Linkedin.

• Clicks: Clicks is also an audience engagement metric that gives a broad view of how well your content resonates with the audience. Distinguished from conventional engagement metrics, this unique analytical approach delves deeper, providing profound insights into the underlying reasons behind the resonance of specific content pieces with your coveted target audience.
  
  
• Reach: Reach is the number of people who see your content. Reach can be monitored in two ways: the reach of your profile as well as the reach of your individual posts. You can further enhance this metric by measuring how many people you reached converted into followers/engaged with your profiles.
  
  Ideally, you should even set a benchmark for this metric according to your business/industry.
  
  
• Impressions: Impressions are the number of times your content is displayed to users. Impressions may be calculated in two ways: total profile impressions and post impressions.
  
  Impressions show the visibility of your content to your target audience. If brand exposure is the goal of your social media strategy, one of the most important metrics to measure is impressions.
  
  It is critical to combine impressions with other digital marketing analytics in order to assess your content correctly.
  
  For example, if you have a large number of impressions but a low number of engagements, it means that your content is reaching but not connecting with your target audience. This emphasises the need to revise the content strategy.
  
  
• Visitors: These brand-centric Key Performance Indicators (KPIs) are critical for complete brand reputation assessment and ensuring that your social media methods are aligned with overall brand objectives.
  
  
• Also, after understanding the performance metrics, it is critical to modify them if any KPIs fail to produce the required results.

Understanding Revenue Oriented Metrics:

Social media is much more than just a brand awareness tool. So, while understanding the efficacy of your social media campaigns, it is essential to track actionable metrics that demonstrate your social media ROI and the influence of social media activities on tangible business outcomes.

• Conversion Rate:  The conversion rate is the number of social media users that actually take a desired action. This is an essential metric for tracking the effectiveness of your social media ads.
  
  
• CTR: Click Through Rate (CTR) compares the number of times your content is viewed and the number of clicks you get. CTR is a fantastic metric for measuring the success of your social media advertisements.
  
  To know more about CTR, and measure the effectiveness of your advertisement, read this blog: Everything you need to know about CTR: The Secret To More Clicks and Sales.
  
  
• MQLs generated: The lead generation metric suggests the number of followers that are converted to customers. This metric holds significance in your social media ads as well as your social media profile.
  
  In fact, if lead generation is your primary marketing objective, MQLs is one of the fundamental success indicators.
  
• Cost Per Lead (CPL): Once you know the number of leads that your social media marketing efforts have generated for your brand, it is crucial to understand the cost a company incurs for that lead. CP, also known as Customer Acquisition Cost (CAC), highly varies according to your type of B2B industry.
  
  Typically, a lower CPL is deemed indicative of a more effective lead-generation strategy.
  
  
• Cost Per Click (CPC): CPC indicates the amount a company has to incur each time some user clicks on their online ad. This metric is commonly associated with paid ads on social media and pay-per-click (PPC) campaigns.
  
  
• Website Traffic: Unlike other revenue-oriented metrics, website traffic doesn’t directly correlate with the revenue generated.
  
  For a B2B marketing strategy to run successfully, it is essential that your website and social media work hand in hand. It is crucial to track the percentage of your website visits that come from social media.
  
  You can even go further and dissect from which social media platform exactly do you get the visits. This is an essential metric to track since website visits indicate that your target customer is actually interested in your brand.
  
• For tracking this metric, you can use tools such as the marketing dashboard of GA4. To understand how GA4 is important for your business, read this blog: From Data Chaos to Strategic Insights: Google Analytics 4 for Business Growth.

• Vanity Metrics:
  Vanity Metrics are the metrics that look good on paper but are ineffective for your business.
  
  Many times, Company heads consider engagement metrics as vanity metrics. Although it is essential to understand that these metrics individually may not sound effective to your business, their collective significance provides valuable insights about your brand health.

How can we help you analyse your social media data to make informed business decisions?

As India’s leading B2B social media marketing agency, The 4P Solutions can help you in the following ways:

• We can provide you with social media marketing services and conversion rate optimisation specific to your B2B brand.
• We design content strategy, taking into consideration user behaviour analysis and social media trends.
• We also analyse social media analytics and provide you with monthly digital marketing insights and reports to track your digital marketing progress.

To schedule a free consultation, call us on 8928609451.

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