You’ve made it through creating pages for your organization, you’ve learned how to produce good content for your page, but how do you know if what you’re doing is successful? Tracking your analytics will tell you just how successful you’re doing on social media.
Tracking analytics is one way to find out exactly what is working for your page and what isn’t working, otherwise you could be wasting time in certain areas.
Contrary to popular belief, success on social media does not consist of how many posts you’ve made, your follower to following ratio, or how often you post. What matters is what happens after you post.
Avinash Kaushik says, “Did you grab attention? Did you deliver delight? Did you cause people to want to share? Did you initiate a discussion? Did you cause people to take an action? Did your participation deliver economic value?”
In the past, people and companies would have to spend large amounts of money finding people or programs to do their analytics for them, but with social networks constantly updating and changing, sites like Facebook, LinkedIn, and Twitter have created analytic dashboards right on the website and app for free!
Understanding Your Stats
Kaushik describes four different metrics that can be used to analyze social media:
- Conversation Rate: The conversation rate is the number of audience comments per post. It’s fairly easy to determine this rate on most social media (Facebook, specifically) because it will give you the total number of comments per post. On other sites, such as Twitter, it is a little more difficult to calculate. You often have to take into account the quote-tweets and the mentions that come from a tweet.
- Amplification Rate: Amplification is the rate at which your followers share your content through their network. This could be a share a Facebook or a retweet on Twitter. It is important to take this specific statistic into consideration when planning future content because this shows what content people found most shareable.
- Applause Rate: This one is basically what it sounds like. The Applause rate is how many people liked or favorited your post. This is quite literally how many “applauded” your content by liking it.
- Economic Value: Economic value is the sum of short and long term revenue and cost savings. Another way to describe this rate is a page’s ROI (Return on Investment). This could be how many donations your page is generating or how much money your page is bringing in.