How to Measure the Success of a Company Social Media Account

When you create a social media account for your business, you may want to ensure it remains a worthwhile asset that will help your company grow and bring in steady revenue. Discover the best ways to measure the success of a company’s social media account.

Engagement Rate

The engagement rate provides you with a solid way to determine the success of your business’s social media account. This rate includes the number of likes and shares you receive for your company’s posts. It also takes into account the overall customer interaction with them.

Follower Growth

Another metric you can use involves tracking the number of followers you have on your account. You need that number to grow if you want your social media account to be a success.

Reach

You also need to expand the reach of your account for it to remain a success. The reach it has indicates how many people see your posts.

Impressions

Impressions take into account how many times your account’s content is displayed. It does not account for clicks. To ensure your account remains an asset to your business, you need to increase its impressions, much the same as you need to increase the number of followers your account has.

Click-through Rate

The click-through rate, or CTR, tracks the percentage of people who visit your social media account and then click through on the links on your posts. A high CTR indicates your account generates steady traffic. It can also help your company’s website garner a higher search engine ranking.

Conversion Rate

The conversion rate measures how many social media interactions from customers lead to desired actions, such as signing up for your company’s newsletter or buying a product or service from your business.

Brand Mentions

To determine if your social media account is a success, you must keep track of its brand mentions. These mentions indicate how often your brand is mentioned on social media platforms. You can also get an idea of how customers speak of your brand.

Share of Voice

This metric compares the visibility of your company’s brand to the visibility of your competitors. It helps you understand your brand’s market position and also lets you understand the effectiveness of your marketing strategies. You can also use it as a tool to research the marketing strategies your competition uses.

Customer Sentiment

You can tell if your account is a success based on customers’ sentiments about your brand, product, and service line. You can analyze the tone in which they speak or post about your business and use that input to manage your company’s reputation and also mitigate the risk of PR crises.

Return on Investment

Finally, you can calculate the financial return you receive from social media compared to the costs your business incurs. If you bring in more money than what you spend on your social media efforts, you can determine your account is a success.

These tips help you determine the success of your company’s social media account. They provide you the opportunity to understand your customer base, adjust your marketing, and rethink your online presence to increase your company’s profitability.