How to benchmark your social media traction with the competition, part 1

  • social media key performance indicators through analytics

Are you wondering how your social media activities measure up against your competition? Would you like to understand how you can benchmark your social media marketing results? Then read on for a bit of inspiration.

In the following you will get an introduction to how you can benchmark your social media activities against your competition or anyone else. In the example I am using Facebook and a comparison between the Michael Leander Facebook page and a Facebook page from Digital Viday – one of the leading contenders in the social media marketing training space in India.

Scroll down to see which tool I am using and how you can get a free trial. Get the newsletter to be sure you get the follow up and more articles related to social media marketing benchmark

1. The general analytic overview and what each benchmark metric means
Compare your Facebook metrics with any competitor

In this view you see the general overview (click for a larger image).
The total score indicates the overall success of the page. The measure reports the past 30 days. I should add that both pages are doing relatively well with 54% and 62% respectively.

Fans measures the growth of “likes”. This is clearly a nice to know Facebook metric, however I wouldn’t put too much emphasis on it.

Neither of the two Facebook pages were running campaigns to acquire new likes during this period of time. And as such it makes sense to track this metric.

The content metric measures the quality of the content taking into account frequency, content differentiation and other measures. As you can see both Facebook pages have room for improvement to increase the Facebook content metric score.

The Facebook engagement metric is likely the most interesting and import social media metric of them all. It measures the amount of interactions on a page in the last 30 days. Interactions are counted as a combination of likes, comments and shares on your page compared with the number of page posts and total number of fans.

The quality metric apparently measures the actual quality of posts. But I wouldn’t pay much attention to it at this point in time. Mostly because very few people, if any, knows what quality in social media really is. I prefer to strictly adhere to a set of metrics relating to engagement and conversion to action. More about this in part 2 of this article. Get the newsletter to be sure you get the follow up and more articles related to social media marketing benchmark

2. Key performance indicators when measuring your Facebook marketing success
Facebook key performance indicators

There is nothing like KPI’s – Key Performance Indicators. I believe in the old saying “what gets measured gets done”.
It means regular measurement and reporting keeps you focused — because you use that information to make decisions to improve your results. Your most critical measurements are called Key Performance Indicators.

I am not so sure that the key performance indicators in the comparison above are the optimal KPI’s for a Facebook marketing presence, but they are good enough for starters.

Growth rate KPI for these Facebook pages is an indication of how many new likes your page attracts. You get the information in absolute numbers and as a percentage.

Moving Average Engagement Rate KPI to me is the single most important KPI next to conversion metrics. The measurement takes the average daily engagement rate over a 30 day period. What I like so much about this information is how actionable it is. As you can see Digital Vidya lost some tracking in the past 30 days (from app. 0,07 to 0,06). Now they know they need to do something differently.

On the other hand, Michael Leander’s Facebook page increased the average engagement rate (from 0,1 to 0,2%). The next step would be to understand what happened during that period of time that I would be able to do more of in the future to retain a high engagement rate.

Get a free 2 week trial and start benchmarking your social media marketing activities
To claim your free 2 week trial of a social media analytic tool, you need to send an email to michael@michaelleander.me with the following information;

  1. Your Facebook page url (like this: www.facebook.com/michaelleandernielsen)
  2. Your contact details including your Twitter id so that I can follow you

What else can you do to learn more about social media measurement?
Get the newsletter to be sure you get the follow up and more articles related to social media marketing benchmark

2017-01-05T14:58:20+00:00

About the Author:

Michael Leander is an award winning international speaker, trainer, consultant and board member. He speaks about topics related to marketing automation, email marketing, social media marketing, digital marketing, direct marketing, CRM and loyalty marketing.

A consistently highly rated keynote speaker, marketing workshop trainer and panelist, he has shared his knowledge in more than 40 countries.

Practicing what he preaches, Michael Leander also shares his knowledge and ideas on his blog and in all of the most popular social channels. Michael Leander hails from the Kingdom of Denmark.