When running a business online or through social media, it becomes extremely important to track the performance of the business on a regular basis. This can be done through monitoring something known as the KPI or “Key Performance index”. This usually indicates monitoring likes, comments, shares, impressions and so on. This can be done through the KPI Dashboard.
The main goal of this dashboard is to visualize the key metrics relevant to social media marketing and engagement. This can show how the social media account is functioning as a whole. This can be done on a weekly basis on a monthly basis enabling businesses to make informed and data-driven decisions.
Key components of KPI Dashboard –
- It enables a visual representation of current social media performance metrics.
- This dashboard allows you to customize the metrics according to relevance. You can do it in the form of configurable widgets, charts, and graphs to represent different types of data.
- Furthermore, you can monitor through drill-downs, filters, and hover effects for detailed analysis.
- They have a user-friendly interface for easier navigation.
- KPI dashboard is generally integrated with apps like Facebook, Twitter, Instagram, LinkedIn and YouTube.
Metrics of KPI Dashboard –
The various metrics of KPI are –
1. Engagement metrics –
This includes metrics such as likes, comments, shares and mentions in stories or comments. This shows customer and follower interaction with the social media account.
2. Reach and impression –
Reach can be defined as the number of times your content was shown to unique users. This shows how many people were able to see your content or who your content reached. If 2000 views were received on your reel, then your reach is to 2000 people.
Impression on the other hand is the number of times your content was displayed to online viewers regardless of the clicks that were made on the ad or campaign. This will show the impressions and help in comparing them with the number of clicks later on.
3. Follower metric –
This metric will help in keeping a count of several new followers and the number of followers lost. This will show how much improvement is made through which type of content.
4. Traffic and conversion –
Traffic refers to the number of visitors to the website. This is regardless of the conversion rate. This is just the number of people visiting the website.
Conversion rate on the other hand is the number of people who visited the website and took certain action. This can be purchasing a product, signing up for a newsletter, requesting a demo or requesting a service. More or less, this is like the last step of the conversion funnel.
5. Content performance –
This includes metrics such as top-performing posts, video views and clickthrough rates (CTR). CTR is the number of clicks your ad or campaign received.
6. Customer sentiment –
Through this metric, you can measure customer sentiments, user comments and mentions. This also includes user comments and messages.
7. Ad performance –
This metric allows you to measure the ad impressions, ad clicks, post per click (PPC) and return on ad spend (ROAS). These are important metrics that help in analysing an ad and knowing if they are working well or not.
Wrapping it up –
The KPI dashboard is an essential metric viewer that allows you to see key metrics like engagement metrics, reach and impressions, follower metrics, ad metrics, traffic, conversions, content performance, and customer performance. These are beneficial because they enhance decision-making, increase transparency, save time, align the goal of the whole team and save resources. Any business owner should consider having a KPI dashboard to create an ease of access.