Facebook, LinkedIn or Instagram? Why social media success depends on your goals
The impact of the pandemic has had a huge impact on businesses, especially SMEs. Traditional brick and mortar markets have evolved online, and dramatic digital migration has forced SMEs to consider new ways of marketing their business.
Without a doubt, social media has become a necessary marketing tool for those who wish to amplify their brand in the saturated online market, with 92 percent of traders stating that social media has helped increase exposure. However, not all social media channels are built for the same purpose, and each platform serves a unique purpose for business.
Here, we explore the social media channels that dominated in 2021 and consider the tactics SMEs can use on each channel to ensure they are using social media to their full potential.
Define goals and objectives
At the start of the campaign development process, you need to consider what your business wants to achieve by leveraging social media marketing. Whether it’s building brand awareness, reaching potential customers, and generating new leads, or all of the above, when it comes to choosing a social media platform and In judging the success of a social campaign, it is important that companies know their goals.
After deciding on your goals, the next step is to figure out how you are going to monitor progress. The best way to do this is to use social media metrics that match your goals. Common metrics include organic reach rate, click-through rate, video view rate, engagement rate, and growth rate. Below, we break down the five social media metrics that matter in measuring the success of your digital campaigns.
Organic reach rate measures the number of unique accounts that saw your post on social media. With the exception of reach resulting from a paid promotion, organic reach provides insight into how your business connects with new customers. To increase organic reach rate, the first step is to fine tune your focus. Focus on a few social platforms, then work to figure out what content works best on your platform of choice.
The 2021 Metigy’s Social Media Benchmark Report and Social Status found that leveraging Instagram’s features resulted in the highest performing organic reach rate, averaging 10.79%. The results show that knowing how to use the platform effectively provides critical insights to help you build a digital strategy that drives more organic reach.
Click-through rate (CTR) identifies the ratio of clicks a link gets to the number of impressions. Popular for electronic direct mail (EDM), this metric is used on social media to create content directing users to a website or link.
Although surprising to some, LinkedIn generates strong results for companies in this area. Our research found that the platform offered the Highest CTR on Social Media Platforms at an average of 4.30 percent, compared to just 0.38 percent on Facebook.
Video Viewing Rate (VVR) counts the number of people who have viewed your video content. VVR is more effective on Facebook, with an impressive view rate of 45.46% on average. Considering these stats, it’s clear that video content is a useful tool, but how can you use it to your advantage and grow your VVR?
By making sure you have clear and concise captions and an attractive thumbnail, you will draw attention to the video. Additionally, using captions can also help increase your viewing rate, and creating a call to action will encourage viewers to engage more deeply with your content.
- Engagement rate (public and private)
Engagement rate is the metric used to measure how engaged your audience is in your content. Public engagement measures the engagement of your followers (likes or comments) divided by your followers. Private engagement, on the other hand, is the number of engagements divided by the overall scope. Typically, private is used to track your own success over time.
This metric is especially useful if you are looking to expand your visibility, with YouTube leading the pack with the highest public engagement rates, with an average of 0.66 percent. Instagram takes first place for private engagement rate however, at an average of 7.95 percent.
High engagement rates prove that your content is valuable to your subscribers and helps to strengthen your position in the almighty algorithm. Plus, engaging your audience is a sure-fire way to build relationships and deal with customer issues in a timely manner.
Growth rate refers to how quickly your social profiles are growing, typically measured at the start and end of each month. As digital networking gains in popularity, we are seeing LinkedIn tops the charts again for the fastest growth rate at 2.82%.
Growth rate is generally the most understood of all metrics and is a sign of how well all of your other metrics are performing. Creating unique content, posting at the right time, using hashtags, and engaging with followers are all tactics that will help you improve your growth rate.
As more consumers move online and social media continues to thrive, businesses need to consider tactics to optimize social media results. In addition to measuring metrics, businesses are turning to AI-powered digital marketing tools to help build data-driven strategies and increase productivity. Through these strategies, companies can reduce noise to successfully reach their desired audiences and ultimately drive stronger results.