SOCIAL METRICS: CONVERSION
Types of social metrics for marketers
The social funnel can be segmented into four key customer journey stages:
Each stage has its own group of social metrics.
In this article, we will consider the third stage: Conversion metrics.
These numbers demonstrate the effectiveness of your social engagement.
1. Conversion Rate
Conversion Rate is the number of visitors who, after clicking on a link in your post, take action on a page (e.g., subscribe to your newsletter, download a gated content asset, register for a webinar) against that page’s total visitors. A high conversion rate means your content is valuable and compelling to the target audience.
2. Click-Through Rate
Click-Through Rate, or CTR, is how often people click on the call-to-action link in your post. Your CTR is specifically tied to a link that brings the audience to additional content. Tracking CTR, often and accurately, will give you invaluable insight into how compelling your offer is to the target audience.
3. Bounce Rate
Bounce Rate is the percentage of page visitors who click on a link in your post, only to quickly leave the page they land on without taking an action. If your social media bounce rate is lower than that of other sources, it’s proof that your social media campaigns are targeting the right audience—and, in turn, driving high-value traffic.
Cost-Per-Click, or CPC, is the amount you pay per individual click on your sponsored social media post. Look to your CPC, it’ll help you weigh if your investment in attention is efficient, or wasteful.
5. Cost Per Thousands of Impressions
Cost Per Thousands of Impressions, or CPM, is the amount you pay every time a thousand people scroll past your sponsored social media post. CPM is a faster and less expensive way to split test content.
6. Social Media Conversion Rate
Social Media Conversion Rate is the total number of conversions that came from social media, expressed as a percentage. Understanding this metric will give you clear insight into the effectiveness of each post in a campaign.
7. Conversation Rate
Conversation Rate is the ratio of comments per post to the number of overall followers you have.
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