In the modern-day, the importance of social media for businesses is undeniable. A way of extending your reach and offering another platform for customer interaction, it’s something that can’t be ignored.
However, many businesses are still yet to harness the power of social media and uncover the return on investment it can create.
It’s no secret that you want your business to have a successful social media performance. But to do this, you need to know exactly how to drive clicks, what’s effective and what changes you need to make.
In this article, we’ll take you through what you should be reporting on to ensure you can see a return on investment and how to generate these social reports.
But first, why should you be measuring social performance?
Knowing how to create an insightful social media report might feel challenging. Especially because you’re likely presenting results to a handful of employees across your workforce.
A significant part of your digital marketing strategy, a social media report is designed to identify your strategies and long-term goals – whilst showcasing what’s working and what needs to be changed.
Helping you to have a powerful position within social media, an effective report will help to:
- Showcase which content on the various channels brings the most engagement.
- Allows you to successfully target your customers.
- Create new social media campaigns based on what was and wasn’t effective.
- Benchmark what you’re creating against your competitors.
- Signify the ROI of your social media campaigns and how they align with your long term digital marketing goals.
What Should You Include in Your Social Reports?
To ensure that your social media ROI is favourable, you need to know what to include in your social media report. Of course, every business is different – and what one business includes in theirs, may be different from what another does – that’s just the way the world works.
It is simply down to what your specific goals and strategies are for your social media campaigns.
However, there are a handful of social metrics and stats that are particularly useful to pay attention to. These include:
The click-through rate is very significant. Why? Because it shows you how many users were interested in what you put out as they clicked on your campaign. Giving you a useful insight into your customers, if it’s low, you can create a strategy to try and draw them in.
Alongside this, you should also include data regarding the cost-per-click for each post you’re putting out. This will show you how much you directly paid for each click you received on the post.
Likes and Follows
In your social media report, it’s a good idea to include what likes and follows your social media posts are getting.
Why? Because although it might seem trivial, it’s actually a good indication of what awareness your posts are receiving, their reach and whether your posts are capturing the attention of your target market – similarly to mentions and the use of hashtags related to your business.
If from the report you realise that your likes are minimal/you aren’t receiving a steady flow of followers each day, you can switch up your technique to try and boost awareness.
Twitter is such a powerful social media channel – and with over 300 million users globally, it’s one that businesses should take advantage of.
When your tweets are retweeted by users, it’s a sign that what you’re doing is effective. So it’s worth including this in your social media report every month. Plus, it’s just really cool to know that your tweets are gaining the attention they deserve!
Reach and Impressions
To see the posts’ visibility, reach and impressions are also a useful metric to include in your report. No matter what networks you’re using, the engagement stats that you get from this will help with your overall strategy.
How to Generate Social Reports
So how do you generate these social reports? Well, there are several steps that you can take to do this.
Firstly, you need to decide what your SMART goals are for the reports. From what’s included in them to how often you create them (e.g weekly, bi-weekly or monthly), this is a key step towards an effective long term digital strategy.
Next, you can look at what social media reporting tools you use. Luckily, there are plenty to choose from online – so don’t worry!
From those created by the networks themselves to third-party software that will keep track of metrics from all of your social media channels, there’s a solution that will align with your requirements.
Here are some examples of software that you can use:
- Agorapulse (offers a free demo)
- Buffer Analyze (offers a free demo for 14 days)
- Sprout Social (offers a free demo for 30 days)
- Google Analytics (most reporting features are free)
- Twitter Analytics
- Facebook Analytics
- Instagram Insights
No matter which software or tools you use, from these social metrics, you can create a report that signifies your social content performance.
So, there you go! Hopefully, that has helped to guide you in the right direction when it comes to measuring how effective your social media strategy can be.
Whether you’re just starting out in the world of social media or you’re looking for ways to enhance your ROI, these tactics could prove to do wonders for your business.