Social Media KPI’s For Start-Ups

Looking to expand your start-up business efforts on social media? You have made a great choice! Statistica shows there are over 3.6 billion active users on social media platforms. With this being said, utilizing social media for your business will give you access to a plethora of potential business customers. But, don’t just jump into social media blindly, use it to enhance your business goals. Take note of some of the top KPIs (key performance indicators) every start-up business should pay attention to on social media.

Track Your Followers And What They Are Doing On Your Page

The initial goal when gaining a presence on social media should be to gain a following with potential customers and current customers who already back your products and/or services. Once you begin to gain a following it sets the stage for your business to begin tracking other KPIs. This does not mean you should not continue to go after business leads and sales. But, it will be a lot easier when your business has built up credibility with a good amount of followers.

Follower Count

Track your follower count on a regular basis. Notice if you see rises or drops and try to connect what actions may have led to it. Maybe you posted a new graphic or video about your services or business that people really liked. Maybe, your content was not appealing enough to make current followers stick around. Whatever the reason, tracking your followers can give you key insight into solutions for your business. 

Engagement

Pay close attention to the subtle feedback you get from your followers. Follower engagements are a great way to tell what type of content is working and what your followers are most interested in. Some common engagements are likes or reactions on your content, comments on your posts, re-shares of content your business has posted, and clicks and views of your various items published on social media. This metrics notifies how people that see your post feel about your products or services.

Pay Attention To Actions Leading To Your Overall Business Goals

Once you have a good amount of content for your business posted on social media, it’s time to analyze the strengths. Think about what you primarily want out of expanding your business to social media. Maybe you want to get more people to see your business. Maybe you want exposure to your website. Maybe you want leads to reach out to about your business services. Whatever your goal is you can find insight by tracking the metrics below. 

Reach

Implement tactics that expand the reach of your business posts. Reach measures how many people see your post. This can vary by who has liked your posts, the personal interests of others, people following your page, and many other factors. The goal is to get this number as high as you can and keep increasing it throughout your efforts and time on social media. 

Website Traffic

Notice the number of visits to your website that is coming from social media content or ads. This is a useful KPI, especially if your overall business goal is website clicks. Your business can use this metric to figure out what type of content to post and if you are gaining more business by forwarding people to your website. 

Leads 

Track any leads coming from social media. You can use social media insights to drive leads to your business. To gain quality leads, you may have to test out different content, mix in some paid advertising, or other variations. Though, after you figure out what your potential customers will respond to, social media can become an easy way to attract passive leads.

Sales Revenue

Integrate sales revenue into your social media tracking and business reporting. If you have an e-commerce or online shop this metric is especially useful. You can integrate your shop and website and track the sales that originate from social media. This can also be a good metric to report on your business stats when leads, clicks, views, etc. turn into a sale or business (if your company is not product-based).

Gather Additional KPI’s From Your Business Equipment And Solutions 

Incorporate other KPI’s, from your business solutions with your social media efforts. Social media is a great addition to the puzzle but you can do more when your business solutions are aligned to support it. Make your business more efficient by implementing equipment and tools that add to your business metrics. MSS Pay provides payments solutions that track inventory, sales revenue, integrate with apps, and add to your overall business and social media marketing. The more you can measure the better you can implement strategies that increase overall revenue and efficiency in your business. Now that you know the basics of what KPIs to track on social media it’s time to get started and stop missing out on reaching numerous potential customers. Need more guidance? Set up an appointment with MSS Pay today and we can help you make the most out of social media and your payment processing solutions.