Now that 2014 is in full swing, the number one New Year’s resolution for social media managers should be to get a fuller understanding of their Facebook metrics.
In the social media world, there are a huge number of metrics to study, with some being private to you, and some being public and therefore comparable to competitors. Knowing which to study, and why, can cause quite a headache for social media managers. That’s why we’ve put together a quick guide to some of the key metrics you just can’t do without this year.
From my perspective, the must-have metrics this year are:
Measuring and understanding these metrics is critical for improving your Facebook presence in 2014.
Engagement rate is calculated like this:
Everyone wants to improve their performance on Facebook, right? Well, by measuring your engagement rate and comparing to competitors, you can see how to keep improving every post. Better engagement can lead to higher return on investment and a happier business!
Reach engagement is a Socialbakers metric that allows you to see the engagement from the reach of your post, as opposed to comparing the interactions to your total audience on the page. This will be increasingly important to understand in 2014 as the organic reach of your posts drop due to competition for placement in the News Feed.
You should also diversify looking at ratios by looking at absolute number of interactions as well – likes, comments, and shares. Because of course 2 pages can have very different engagement rates, but one can be huge, and one can be tiny. This is logical and by definition. So when you look at Engagement Rate, you should always look at the absolute number of interactions.
Your customers are important. The most important thing on social media, in fact. Response rates are a key metric for measuring your customer service team so that you can see whether you are serving your customers well. Customer service queries are only going to increase through social media channels in 2014, so measuring performance and setting targets is really important to continue making them smile.
Finally, non-public interactions such as clicks are massively important in 2014. Tracking your click-throughs from your Facebook posts, and into your sales funnel, which can be visualized in your web analytics platform, is vital to start truly measuring the return on investment that even more businesses will need from Facebook this year.
If you’re a social media manager, you have a busy year ahead of you. There will be added expectation and pressures for your Facebook presence to deliver this year, and to ensure that you succeed you must understand these key metrics.
To learn more about all of these metrics and others, check out our white paper, A Marketer’s Guide To Facebook Metrics .