It can be difficult to pinpoint exactly what your target audience wants to see on social media. However, social media business statistics is a fantastic tool that all businesses should be using to review their digital marketing strategy and identify ways to improve the performance of their content.
The Most Important Social Media Business Statistics To Monitor
In this article, we’ll talk you through the following most important social media business statistics that you should be monitoring:
- Accounts reached.
- Accounts engaged.
- Total followers.
- Content reached.
These social media business statistics give businesses insight into consumer behaviour and how they can improve their digital marketing strategy to increase their reach and engagement on social media.
So, let’s break these social media business statistics down and how you can utilise this information to improve your strategy.
1. Social Media Business Statistics: Accounts Reached
When you log into your social business account, you can check the number of accounts that you have reached and filter this by a particular timeframe, such as by the last 7 days, the last 30 days, the last 90 days, and so on.
Whether it’s Facebook, Instagram, LinkedIn, or any other social media platform, you will also be given a percentage to provide an idea of how much you have improved your social media performance compared to normal. If you are given a positive percentage in green text, this will inform you that your reach has increased. However, if you are given a negative percentage in red text, this indicates that your reach has decreased compared to your average performance.
To improve your digital marketing strategy, make a note of the number of accounts your profile has reached and use this as a benchmark going forward to try to increase this figure.
2. Social Media Business Statistics: Accounts Engaged
Once you have reviewed the number of accounts your profile has reached, the next step is to compare this figure with the number of accounts that engaged with your content. This figure will suggest how many of those reached consumers not only saw your content but took an action to engage with your business.
How Reach and Engagement Differ When Utilsing Social Media Business Statistics
It’s important to remember not only to note the number of accounts reached and the number of those who engaged. The engagement rate considers the following factors when generating a social media business statistic:
This information is very important to review as the engagement rate indicates whether your target audience enjoyed viewing your content and continued the user journey by interacting with your profile. So, what should you do if you discover that you’re reaching accounts but receiving low engagement? Review the variety of content that you’re currently posting and ensure that you’re using the following factors to increase engagement:
- A thought-provoking hook in your graphic or video as well as your caption.
- Information that is easy to digest through text on your graphic/video and bullet points in your caption.
- A clear call to action that outlines exactly what you want your audience to do with your content.
- Content that entertains and informs your audience while generating brand awareness to establish the identity of your brand.
Including the factors above will help improve your engagement rate, which is critical for social media algorithms to ensure to promote your content to a large audience.
3. Social Media Business Statistics: Total Followers
Next, identify the total number of followers that you have generated within a particular timeframe. This figure will indicate how many users were interested in your business as a result of your content and chose to follow you to see more in the future. This social media business statistic will inform how many new consumers want to see more content from your business.
The Effect of Giveaways on Social Media For Businesses
Many businesses offer giveaways on social media to increase user engagement, reach more profiles, and increase their number of followers. Although this is a great marketing strategy to improve your social media business statistics, be sure not to rely on giveaways to improve your growth online.
This is because giveaways may generate an increase in followers, however, some users may unfollow your account once the giveaway has been closed or not engage with the page if they aren’t interested in the rest of your content. Therefore, ensure to evaluate the type of content you’re posting to identify how you can gain new followers and improve consumer retention.
4. Social Media Business Statistics: Content Reached
A great way to utilise tools such as Facebook Insights and Instagram Insights is by reviewing how many accounts you’ve reached based on the content you’re currently posting. These insights give you a comprehensive overview of how well your posts, videos, and stories are reaching social media users.
So, how can you utilise this social media business statistic? When reviewing your content, identify the following:
- The post that reached the most amount of profiles.
- The post that generated the most amount of likes.
- The post that generated the most amount of comments.
- The post that generated the most amount of shares.
- The post that generated the most amount of shares.
Next, identify what type of content produced this effect. Was the content entertaining, educational, or a behind-the-scenes look into the business? Once this has been identified, ensure to produce more content like this in the future as your social media business statistics indicate what your audience enjoyed the most from your posts. When you produce content that your target audience wants to see, the more likely they will engage with your content!
5. Social Media Business Statistics: Demographics
Another social media business statistic to review regularly is demographics. This will provide insights into the gender of your audience, their age, and where your audience is located. When reviewing this social media business statistic, identify if you’re attracting the correct target audience and any opportunities to potentially target new audiences.