You’ve started your social media marketing campaign with the purpose of increasing brand awareness on social media and you want to know how your brand is performing. What metrics do you look at? Many brands will look at the increase in the number of followers of their brand’s official social media accounts as the main metric.
But is the absolute increase in the number of followers the most important metric to look at? To determine the effectiveness of a campaign, we think that brands might want to analyse the growth of their Instagram accounts in two ways–through audience growth (rate) and engagement rate.
Audience Growth Rate
A brand’s audience growth is determined by the increase in the number of followers for their Instagram account. As reflected in the graph below, Klook Travel experienced a smooth increase in terms of audience growth.
This metric allows brands to better understand and monitor the growth rate of their account during the campaign period to better evaluate the success of the campaign. If the campaign period lasts 1 month, instead of looking merely at the absolute number of followers gained in the 30 day period, brands might want to look at the growth attained on each day during this period. These can be compared against established goals for audience growth.
Monitoring by the day allows you to see if some parts of your campaign are more effective than others in helping you gain followers. For an example, if you are working with influencers in this campaign, you might find that some influencer’s posts help you obtain more followers than others. If you do indeed experience greater audience growth on some days than others, it is important to reflect upon and analyse what you did that led to the increase.
Are They in Your Target Audience?
In tracking audience growth, it is crucial for your brand to clearly identify who your target audiences are, in order to know if you are reaching out to the correct people. If your brand account is country- or region-based, it is important that you take note of where these new followers are coming from.
For an example, if you have a brand account that has been set up for consumers in Singapore, your target audience would definitely be Singaporean. While your campaign may attract followers from other parts of the world, these people may not have access to certain products or launches that occur in Singapore or be able to redeem rewards or stand to benefit from the deals happening in the country. Posts that contain such content will be considered irrelevant to these followers, which will eventually lead to a lower engagement rate over time.
In looking at audience growth, it is hence important to check if your brand account’s audience demographic is largely from the target country. This comparison of audience demographic should ideally also be done daily so as to give your brand a better idea of which parts of your marketing campaign are successful in attracting your target audience.
An account’s engagement gives a rough indicator of how the account interacts and engages with their audience. As consumers, we love brands so much more when they actively seek interaction from their followers, such as by posting questions and inviting comments on the content.
If you are a brand who is looking to increase brand awareness on your social media account(s), it is best if you look at the engagement rate (engagement received divided by the number of followers) of your brand account rather than absolute engagement. The graph below depicts the engagement rate of LadyIronChef, one of the local leading Instagram accounts.
Tracking growth in engagement rate instead of growth in engagement alone allows brands to tell if the new followers they have obtained are interested in the content that is being produced. Looking at such data, you may find that while both your follower count and your engagement have increased, your engagement rate has decreased over that same period time, suggesting that your new followers are not as interested in your content as your old followers were.
It is crucial for brands to recognize the importance of tracking audience growth and engagement rate growth in assessing the performance of your social media campaigns. Only by tracking such data can brands make the best analyses of performance and find the best way to carry out future campaigns.
Intrigued at how these metrics could also be used to analysed how effective your social media campaign has been? Click here to find out more about some marketing tools that are available to keep your head in the game! We will love to hear from you should you have any queries too!