Which Social Media Metrics Actually Matter? | Ep. #174

Marketing School - Digital Marketing and Online Marketing Tips

Eric Siu and Neil Patel

Careers, Business, Marketing

4.6 • 1.3K Ratings

🗓️ 21 January 2017

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In Episode #174, Eric and Neil discuss the two social media metrics that actually matter. These metrics are THE indicators that show whether or not your marketing strategy is working. Tune in to find out what they are and how to improve upon your ratings. Time Stamped Show Notes: 00:27 – Today’s topic: Which Social Media Metrics Actually Matter? 00:44 – First metric is the engagement rate—the number of reach of your post divided by those who shared, commented, or liked your post 1:03 – Engagement rate is how effective your post is in social media 1:15 – You can check the engagement rate in Facebook insights or to some extent, in Youtube 1:38 – Neil shares that in social media, the more people are engaged, the more likely they will buy 1:40 – Engagement is not about the number of fans, but how they respond to your posts 1:53 – For example, HubSpot’s fan page in Facebook has over a million fans but they are not engaged 2:15 – Another tracking metric is the ROI 2:22 – Social media marketing costs Eric 100,000/month, but he makes more than that from social media marketing 2:31 – Funding campaigns in social media marketing for ROI can really be profitable 2:40 – For people struggling with the engagement rate portion, they should look up Avinash Kaushik 3:07 – Avinash has posts about the engagement rate and how to measure it 3:26 – Neil also likes ROI as a metric—their Pinterest conversion rate is 2.31% and potential customers are staying longer 4:03 – Social media marketing metrics is different in different times of your business 4:35 – Set a target growth rate week over week, then adjust targets quarterly 4:54 – You may not be able to maintain that growth rate, but it can be a good measuring stick for you 5:14 – Engagement and ROI are the two main metrics 5:18 – That’s it for today’s episode 3 Key Points: The two main metrics to focus on in social media is the engagement rate and ROI. Social media marketing can really be profitable, as long you do it right. Set your own growth rate and work to achieve it—adjust the rate as your business changes over time. Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu

Transcript

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0:00.0	Get ready for your daily dose of marketing strategies and tactics from
0:06.8	entrepreneurs with the guile and experience to help you find success in any
0:11.4	marketing capacity. You're listening to marketing school
0:14.5	with your instructors Neil Patel and Eric Sue.
0:19.4	All right guys before we start we got a special message from our sponsor.
0:27.0	If you want to Rank hire on Google, you got to look at your paid speed time.
0:31.5	The faster your website loads, the better off you are. With
0:34.4	Google's core vital update, that makes it super, super important to optimize your
0:38.5	site for low time. And one easy way to do it is use the host that Eric and I use dream
0:44.5	host so just go to dream host or Google it find it check it out and it's a great way
0:49.7	to improve your low time.
0:51.3	Hello and welcome to another episode of marketing school.
0:56.0	I'm Eric Sue and I'm Neil Patel.
0:58.0	And today we're going to talk about what social media metrics actually matter, right?
1:02.4	There's so much stuff going on with social media is it the
1:05.2	views that matter is my number of followers that matter what actually matters so I'll go ahead and kick this off
1:10.0	I think this one should be very brief into the point. First one is your engagement rate, right?
1:15.0	So if you share something, let's say it reaches a thousand people or so,
1:18.0	or I'm going to make it even easier.
1:20.0	Let's say it reaches a hundred people, and you have 20 people cumulatively that you know share
1:25.4	like it or comment on it well your engagement rate is 20% so 20 divided by 100 that's your
1:31.5	engagement rate right that's how effective your post is.
	...

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