What are Key Figures and KPIs?<\/h2>\n\n\n\n
Often, key figures and KPIs<\/strong> are used synonymously. However, when taking a closer look, they can be clearly distinguished from one another:<\/p>\n\n\n\n Consequently, KFs and metrics are more or less the basis of KPIs.<\/p>\n\n\n\n Apart from KFs and KPIs, the differentiation between Vanity Metrics and Actionable Metrics<\/strong> is hugely relevant as well. It was first defined by entrepreneur and creator of the Lean Startup method, Eric Ries.<\/p>\n\n\n\n Vanity Metrics are often disqualified as useless, and Actionable Metrics praised as the only relevant KFs. Actually, it\u2019s not quite so easy to make this distinction. After all, in most cases, it makes indeed sense to gather a large Follower base. However, exactly which benefits come with this growth can only be measured by looking at additional KFs.<\/p>\n\n\n\t\t\n\t\t\t You\u2019re new to Social Media Monitoring? Download our \u201cBeginner\u2019s Guide to Social Media Monitoring<\/a>\u201d for free now and learn how to successfully generate leads, improve your customer service, and gain competitive advantage.<\/p>\n\n\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\n\n\n Before deciding which KFs you want to have an eye on, you should ask yourself which goals you want to accomplish<\/strong>: Do you primarily want to increase your reach and brand awareness, foster interaction, or generate leads? The answers to these questions will tell you exactly which KFs and KPIs you should pay attention to right now<\/strong>.<\/p>\n\n\n Additionally, it is helpful to allocate KFs to specific stages of the Customer Journey<\/strong> and consider a Social Media Funnel. We have decided on three stages for our list:<\/p>\n\n\n\n In addition, it\u2019s useful to keep an eye on internal aspects too, i.e. your team\u2019s output<\/strong>. The corresponding KFs are frequently being neglected, even though they play a key role in determining the status quo.<\/p>\n\n\n\t\t\n\t\t\t Knowing what your competitors are up to is part of Social Media Monitoring. In our blog post \u201cAnalyze Your Competitors on Social Media with the Right Strategies and Tools<\/a>\u201d you will find information on the advantages of systematic Competitive Intelligence and tips on which tools to use for it.<\/p>\n\n\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\n\n\n Post Rate:<\/span> Post Format Mix:<\/span> Post Topic Mix:<\/span> Budget:<\/span> Follower and Fans:<\/span> Post Reach:<\/span> Potential Reach:<\/span> Video Views:<\/span> Mentions (Share of Voice):<\/span> Share of Audience:<\/span> Sentiment:<\/span> Amplification Rate:<\/span> Virality Rate:<\/span> Applause Rate:<\/span> Conversation Rate:<\/span> Engagement-Rate:<\/span> Likes + Comments + Shares \/ Reach x 100 = Engagement<\/p>\n\n\n\n The Engagement Rate is extremely helpful in determining which content works best with your audience<\/strong>. Additionally, you have the option to measure the Engagement Rate for your entire content over a defined time span.<\/p>\n\n\n\t\t\n\t\t\t When measuring the Engagement Rate, consider the individuality of each platform. On Facebook and Twitter, the Engagement Rate is generally lower than on Instagram.<\/p>\n\n\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\n\n\n Click-Through Rate:<\/span> Conversion Rate:<\/span> Leads:<\/span> New Visitor Conversions:<\/span> Return Visitor Conversions:<\/span> Social Media Conversion Rate:<\/span> ROI:<\/span> Profit \/ Investment x 100 = Social Media ROI<\/em><\/p>\n\n\n\n The crux with this calculation lies in the fact that Social Media activities are not always easy to measure. It is all about what you want to achieve<\/strong>, and what this achievement is worth to you and your company.<\/p>\n\n\n\n Customer Lifetime Value:<\/span> Turnover \/ Churn Rate:<\/span> In this blog post we have set out to show the plethora of Key Figures relevant in Social Media Marketing. However, not all of these will play a central role in your company.<\/p>\n\n\n\n On the contrary – the selection of Key Figures and Key Performance Indicators is dependent on your individual goals and strategies<\/strong>. It is therefore essential to consider beforehand which numbers you want to measure, why, and the results\u2019 significance to you. This is the only way of successfully embedding your analyses into your global strategy.<\/p>\n\n\n\t\t\n\t\t\t For successful Social Media Monitoring you need the right tools. With Swat.io, you are always up to date on what Social Media users say about your brand, products, competitors and other relevant topics across all channels. In addition, you profit from a variety of valuable features for content creation, community management, and customer service. Start a free trial now!<\/a><\/p>\n\n\t\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\n\t\t\n\n\t\t\n\t\t\t\n
What is the difference between Vanity Metrics and Actionable Metrics<\/h2>\n\n\n\n
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First define goals, then gauge your performance<\/h2>\n\n\n\n
![\"Define](\"https:\/\/swat.io\/wp-content\/uploads\/2019\/01\/social-media-ziele-festlegen.jpeg\")
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Essential Key Figures for Social Media<\/h2>\n\n\n\n
Output Metrics for Social Media<\/h3>\n\n\n\n
How many Social Media Posts<\/strong> does your team publish on a given channel, such as Facebook, Twitter, or Instagram, over a certain period of time?<\/p>\n\n\n\n
What is the overall percentage of posts per format<\/strong> (video, text, pictures, etc.)?<\/p>\n\n\n\n
What about the percentage of posts per topic<\/strong> (special offers, blog posts, etc.)?<\/p>\n\n\n\n
How much does your team spend on Social Media Marketing over a given period of time?<\/p>\n\n\n\nAwareness Metrics for Social Media<\/h3>\n\n\n\n
The total number of Fans or Followers per Social Media Channel<\/strong>. It can usually be obtained easily but is meaningful only to a certain extent.<\/p>\n\n\n\n
It is important to know how many users have seen a post. In order to have even more meaningful results, differentiate between organic (unpaid), paid and viral reach.<\/p>\n\n\n\n
In contrast with the actual reach, this figure indicates the number of people who could potentially have seen your blog post<\/strong>. Take into account that for every one of your Followers who share one of your posts with their network, two to five percent of their followers count towards your Potential Reach. In other words, the Potential Reach equates to two to five percent of the theoretical reach.<\/p>\n\n\n\n
Videos keep on getting ever more relevant in Social Media Marketing. You can easily find out how many views one of your clips on say, YouTube, generates<\/strong>. However, with Video Views the aforementioned point also holds true: the number of views in itself is not particularly meaningful.<\/p>\n\n\n\n
The so-called Social Share of Voice indicates how many people mention your brand or company instead of your competition\u2019s<\/strong>. This KF is very telling in terms of your visibility. With the right tool, it is easy to track mentions across various networks and obtain the Social Share of Voice.<\/p>\n\n\n\n
How many people see your content in comparison to your competitors\u2019 content<\/strong>?<\/p>\n\n\n\n
When a brand is mentioned, it is not always in a positive light. The KF Sentiment allows you to know whether a mention has a positive, negative, or neutral overtone, thereby letting you gauge the overall sentiment of posts related to your brand.<\/p>\n\n\n\nEngagement Metrics for Social Media<\/h3>\n\n\n\n
The Amplification Rate measures the average number of shares per post<\/strong>. On Twitter, this is counted in Retweets, on Pinterest it is counted in Repins.<\/p>\n\n\n\n
The Virality Rate is similar to the Amplification Rate, but it represents the number of users who have shared your post divided by the number of impressions<\/strong>.<\/p>\n\n\n\n
With this figure, too, what you expect is what you get. The Applause Rate shows you how many people \u201capplaud\u201d your posts, i.e. react positively to them. The most notorious example of applause is Likes<\/strong>. However, keep in mind that the sheer number of likes doesn\u2019t say much or rather anything at all about the Likers\u2019 intentions.<\/p>\n\n\n\n
The Conversion Rate does not indicate the number of Likes, but the average number of conversations per post<\/strong>, meaning either answers or comments.<\/p>\n\n\n\n
In order to measure the entire interaction with a given post in percent, you can use the following formula:<\/p>\n\n\n\nAction\/Conversion Metrics for Social Media<\/h3>\n\n\n\n
This figure is relevant for posts with links. Here, the number of clicks on a link<\/strong> is being divided by the number of impressions.<\/p>\n\n\n\n
The number of conversions over a certain time span as such is an important figure, too. However, in contrast to that, the Conversion Rate goes one step further. It divides the number of conversions by the overall traffic in a specific time span<\/strong>. Conversions can be a variety of processes: registrations, downloads, newsletter subscriptions, etc. A high Conversion Rate is a key indicator for successful content.<\/p>\n\n\n\n
How many leads has your team acquired through Social Media Marketing?<\/p>\n\n\n\n
When taking a look at your conversions, you should ask yourself who the number refers to. How many of these users are new visitors<\/strong> who haven\u2019t visited your page before?<\/p>\n\n\n\n
How many conversions refer to users who are return visitors<\/strong> and have been to your page before?<\/p>\n\n\n\n
In Social Media Marketing it is useful to know the number of conversions generated due to your Social Media activity<\/strong>. Divide this number by all conversions – the result is the Social Media Conversion Rate.<\/p>\n\n\n\n
The final outcome is important not just in its own right, but especially in relation to the effort that was made<\/strong> to achieve it. The Social Media ROI can be determined with the following formula:<\/p>\n\n\n\n
What is the estimated value of a client across the entire time<\/strong> that they are your customer? This figure is based on prognoses, e.g. on the profits a client will generate for the company in the future.<\/p>\n\n\n\n
Not just the number of clients won, but also the number of clients lost over a specific period of time<\/strong> is a meaningful figure, which is known as the Turnover or Churn Rate.<\/p>\n\n\n\nWhich KFs and KPIs you should consider depends on your company<\/h2>\n\n\n\n