What are social media KPIs?

Social media KPIs are the metrics used to determine if a business’s social media marketing strategy is effective. Basically, they’re tracked data related to a company’s presence on individual platforms like Facebook, Twitter or Instagram, or across all social platforms collectively.

Social media KPIs are the metrics used to determine if a business’s social media marketing strategy is effective. Basically, they’re tracked data related to a company’s presence on individual platforms like Facebook, Twitter or Instagram, or across all social platforms collectively.

Chances are, your social team sets SMART social media goals. Your social media KPIs should also be SMART:

• Specific: Be as clear as possible. For example, do you hope to increase the brand’s Facebook follower count by 500 in the next month? Do you want to increase your click-through rates by 20% by the end of the year?
• Measurable: Will you be able to track and quantify your progress? For example, during a monthly check-in, you should be able to determine how close you are to meeting the goal.
• Attainable: Keep it real. Set KPIs that are within an achievable scope.
• Relevant: Make sure each social media KPI connects to the business’s larger goals.
• Timely: What’s the timeframe for achieving this goal and determining whether success has been met? One month, six months, one year?

SMART KPIs will make it easier for you and your team to commit to your goals and consistently work towards them over time. Plus, they make reporting successes back to your boss easier. It’s easy to see the wins and the progress!

How to set social media KPIs

When setting social media KPIs, be sure they reflect your company’s overarching business goals.

But remember, setting KPIs isn’t a one-and-done scenario, even when they’re SMART. In fact, you might even set different KPIs for each social media campaign and each social media channel — this will help you create very specific and data-driven social media reports for all of your social media activities.

You might also want to think SMARTER. That is, be sure the KPIs also leave room for evaluation and reevaluation. No company’s business goals are set in stone — that means the social media KPIs you set should also be able to change over time as the overarching business goals change.

To set and monitor effective social media KPIs:

1. State the KPI’s objective

Make it clear how tracking the KPI will help the company reach a specific business goal. Think beyond numbers and data. How do the metrics you’re tracking support the business and play into the larger, carefully designed strategy?

2. Name your KPI

Now that you know how your KPI is supposed to support your business goals, decide on a metric that will help you measure if you’re on track. So, for example, if your business is focused on growth and you want to build brand awareness on social media, you might want to make Facebook impressions one of your KPIs.

When you settle on a metric, make your KPI specific (or SMART) by adding a value and a timeline to it.

3. Share the KPI

Now that you’ve decided on an important KPI, don’t keep it to yourself. Communicate these KPIs with your team, your boss and any other stakeholders who should stay up to date with your strategy. This will help you set expectations and make sure everyone is aligned on what you’re measuring and why.

4. Analyze your current performance

If measuring social media KPIs is new to your team, make sure you collect benchmark data. That way, you can compare changes over time and know growth when you see it — and prove to your boss that your strategy is working!

5. Define your cadence

Are you tracking your KPIs weekly? Monthly? Bimonthly? Decide on a pattern that will help you clearly see growth patterns and developments, and react quickly when things aren’t working great.

6. Review the KPI

Schedule time — perhaps once or twice a year — for a bigger review of your KPIs. Are they still relevant? Are they still helping you meet company goals? Should changes be made?

Remember: why and how you set social media KPIs could change as the business changes.

Important social media KPIs you should be tracking

There are many social media metrics, and all could be relevant to your business in different ways. To effectively track how your brand’s social media strategy is meeting company goals, try to set KPIs in each of the following categories.