There are 4 levels of the social funnel, and at each level, there are ways to track KPIs. Let’s look at what those KPIs are and how best to track them.
Awareness is at the top of the funnel and is pretty easy to track. Because your awareness ads focus on “Getting the word out,” you should be all about tracking KPIs such as impressions, reach, and audience growth. It is about getting as many eyeballs on your branded content as possible, which is why it is at the top of the funnel.
Much like awareness, social engagement is fairly easy to track through likes, comments, shares, and retweets. It is exactly what it sounds like. How much does your audience ENGAGE with your brand? This is important because if your engagement is high, it means you are “getting the word out” to the RIGHT people. If your engagement is low, it could mean that you are either 1) targeting the wrong audience or 2) creating content that isn’t suitable or interesting to the audience you’re targeting. The engagement metrics are more telling than the awareness metrics because they give insight into if your audience CARES what you have to say with your ads.
This one is straightforward if you have an eCommerce site. You can easily track how many people are clicking through your ad to your eCommerce site and making a purchase with google analytics and Facebook’s pixel tracking.
Conversion is a little more difficult to track if your product isn’t sold online, but there are some metrics you can look at that will give you a general idea of if your ads are converting. For example, look at your click-through rate (how often people click on the call-to-action link in your post) for ads that click through to pages like “Where to Buy” or “Coupons.” This will give a good indication of intent to buy instead of ads that link to your recipes or blog pages. That isn’t to say people visiting those pages won’t buy, but this is a good starting point to narrow down if your ads are converting to sales.
You can also track conversion for actions other than sales. Conversion Rate is the number of visitors who, after clicking on a link in your post, take action on a page, so if you want consumers to sign up for a loyalty club, you can track the conversion rate of an ad or a post with a button to “sign up.”
All the above categories measured KPIs of social media/internet users. But this one measures the thoughts and feelings of your current and past customers. The best way to track this is through customer reviews & testimonials.
If you want to put a number to it, there are two different ways to “score” your consumers’ satisfaction.
You can create a survey to help you create a CSat (customer service satisfaction) score. To this, follow these few easy steps:
- Create a survey on social media asking customers to rate their satisfaction on a scale of 1-10.
- Add up all the scores and divide by the number of survey respondents.
- Multiply that number by 10 to get your CSat score.
You calculate your NPS (Net Promoter Score). This can be found with a one-question survey.
- Create a survey with one question: On a scale from 1-10, how likely is it that you would recommend our [company/product/service] to a friend?
- Group responses into three categories:
- Detractors: 0 – 6 score range
- Passives: 7 – 8 score range
- Promoters: 9 – 10 score range
- Subtract the number of promoters from the number of detractors and divide that number by the total number of respondents.
- Multiply that number by 100 to get your NPS.
If you have any questions about improving your social media strategy, please reach out to the NewPoint team. If you are interested in more food brand marketing topics, please visit our Food for Thought page or check out NewPoint’s Patrick Nycz’s book: Moving Your Brand Up the Food Chain.