Guide to Marketing KPIs & Metrics
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Followers Growth KPI Definition
The Followers Growth KPI measures the number of new followers you've gained on a specific social media platform over a set period of time and compares that to a predetermined target. It's important not only to measure how many new followers you get, but also compare that to your objectives or even your competitors. This provides an indication of your "share of conversation" and your success on a certain platform.
Followers Growth KPI Benchmark
Social Media Follower Growth is varies significantly depending on company size, industry, and platform. Below is the median annual follower growth per brand on a channel-by channel basis from TrackMavan’s Social Media Inflation Index Infographic (2015):
- Facebook: 23%
- Instagram: 100%
- Twitter: 23%
- Linkedin: 24%
- Pintrest: 20%
Followers Growth KPI Challenges
The Followers Growth KPI is challenging on a number of fronts. The greatest challenge with this KPI is that it does not specifically attribute marketing campaigns to changes in growth. For that reason, it is crucial to continuously monitor this KPI so that you can understand what works and what doesn’t for your social following.
Followers Growth KPI Best Practices
There are many strategies to increase your social media following. Here some expert advice to growth your online fanbase:
- Identify your goals and objectives. Know what you are going for before you start posting. Ensure you know how each platform works, what audiences you can reach where, and what your objectives are.
- Let them know you are human. Interact with your accounts very often-- respond to posts from your audience and interact when they show interest.
- Include your icons on your website. Make sure your social media icons are on all your website pages. Also, include your social media icons on your emails in your signature.
- Treat each social network as an individual one. Share each individually and often.
- Make use of paid ads on Facebook, Twitter and other social networks.You can get pretty granular with the ad targeting to ensure you’re reaching the right people. His advice is to experiment with paid ads and see what type of results you get, as this strategy works for some companies more than others, largely depending on the product/service offered and the target market.
- Social media contests and sweepstakes can be highly effective tools for growing your social following. And you can design the contest so participants have to follow you on your social pages to enter. Be sure the promotion is compelling and enticing for your audience (the giveaway should be something your market is interested in). Once the promotion has been implemented, spread the word by emailing your database, putting out a news release, and promoting it on your website, blog, and social media channels.
How to Monitor Followers Growth KPI in Real-time
Once you have established benchmarks and targets for Followers Growth, you’ll want to establish processes for monitoring this and other social media KPIs such as the New Followers Metric and Marketing Return on Investment (ROI). Dashboards can be critical in this regard.
Learn more about how to track your Followers Growth on a Social Media Dashboard.
Followers Growth KPI: Top Resources
25 Ways to Grow Your Social Media Presence, John Rampton