Top 10 Social Media KPIs You Should be Tracking in 2024

The online world is always changing, and as we start a new year, it’s really important for businesses to know the important things to measure on social media. These are the Key Performance Indicators (KPIs).

In the fast-paced world of social media marketing, being successful means keeping a close watch on numbers that not only show how well things are going but also help in making smart decisions. In this detailed guide, we’ll talk about the main social media KPIs for 2024. This will help you have a successful social media plan and make smart choices.

Read more: Become a Top Social Media Manager: Skills You Must Master

What are the KPIs in social media?

In simple language, KPI in social media stands for “Key Performance Indicator.” It’s like a special measure that helps you figure out how well you’re doing on social media. These measures could include things like how many people are liking or sharing your posts, how many new followers you’re getting, or even how many people are clicking on the links you share. KPIs are like little signals that tell you if your social media efforts are working and where you might want to make things better.

Read more: Top 10 Ways to Conduct Social Media Audit

Top 10 Social Media KPIs 

1. Engagement Rate

The most important part of social media KPIs is how much people get involved. In 2024, keeping an eye on engagement rates means more than just counting likes and shares. It’s about understanding the quality of interactions. This means looking at comments to see how people feel and adjusting what you post based on that. The engagement rate is a really important number. It shows how deeply your content connects with the people who see it.

2. Conversion Rate

The main aim of being active on social media is to turn people’s interest into real business results. That’s where the Conversion Rate comes in. It’s a way to see how many people actually do what you want them to do, like buying something, signing up for a newsletter, or downloading stuff.

In 2024, the tools we use to measure things will get better. Now, businesses can connect what they do on social media more directly to these actions, giving them a clearer idea of how it affects sales and other important stuff.

3. Reach and Impressions

Knowing how many people see your social media posts is really important for social media KPIs. “Reach” shows the number of unique users who see your content, and “impressions” tell you how many times it’s shown in total. In 2024, keeping an eye on these numbers will help you understand how many people can see your content and how your audience might grow. It’s good to have a balance between reach and impressions so that your content not only gets seen but also makes a lasting impression on people.

4. Click-Through Rate (CTR)

The click-through rate (CTR) is like a score that shows the percentage of people who clicked on a link compared to everyone who saw it. It’s important for social media KPIs because it helps you know how well your request for action connects with your audience. In 2024, if your CTR is higher, it means your content is interesting, and people are likely to take the next step in their online experience.

5. Follower Growth

Having lots of followers is important, but how quickly that number goes up is also a big deal for social media KPIs. If your followers are growing naturally, it means people are genuinely interested in your brand.

In 2024, businesses should care not just about growing really fast but also about making sure it keeps happening and brings in the right kind of audience. This helps build a group of loyal followers who like what you share and interact with your content.

6. Social Media Mentions

Keeping an eye on what people are saying about your brand on social media is really helpful for social media KPIs. It tells you if they’re talking about it in a good or bad way. Knowing this is important because it helps you respond quickly and manage your reputation.

Using tools that listen to what’s being said on social media is still really important. It helps you stay tuned to what people are talking about and what’s happening in the wider social world.

7. Return on Investment (ROI)

Social media is a big part of how customers make choices. To see how much it helps in making money, we use something called return on investment (ROI) in social media KPIs. This is like connecting what you do on social media directly to how much money you make.

In 2024, more and more businesses are trying to link their sales, leads, or people doing what they want directly to what they do on social media. This helps them see exactly how much it’s affecting their finances.

8. Customer Satisfaction

Numbers are important, but real success comes from making customers happy. In these social media KPIs, businesses are focusing more on surveys, feedback, and listening to what people say on social media to find out if their audience is satisfied. When customers are happy, it means they’ll stick around, build long-term relationships, and even tell others good things about the brand.

9. Video Metrics

Videos are a big deal on social media KPIs, and it’s not just about how many people watch them. Businesses are now looking at things like how long people watch, if they finish watching, and how much they interact during videos. These numbers help understand how well people are connecting with what they see. In 2024, these social media KPIs will become more popular, especially with short videos and live content becoming more popular. Knowing about these video metrics in social media KPIs is really important.

10. Social Ad Performance

For businesses that use social media ads, it’s super important to check how well the ads are doing. Metrics like cost per click (CPC), click-through rate (CTR), and how many people do what you want after seeing the ad give you an idea of how well your ads are working. For social media KPIs, the idea is to use A/B testing to make ads work even better and get the most out of what you spend on them.

Check out our Social media marketing course.

Conclusion

As we step into 2024, these social media KPIs act like a guide for businesses. It doesn’t matter if you’re a small business or a big one; paying attention to these metrics helps you know what works and what doesn’t in the digital world. It’s like having a map for real, measurable success. Keep a good look at these KPIs, and you’ll see how your social media work turns into actual success for your business. In the always-changing world of social media, staying smart and flexible is the way to find success.