How to Define & Measure Social Media KPIs – Part VII - Valasys Media

How to Define & Measure Social Media KPIs – Part VII

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Prologue

Social media channels are among the primary marketing channels as they are used by billions of people worldwide for entertainment,
socialization & consumption of pieces of information including brands' news & product launches. Brands need to define & measure their Social Media KPIs (Key Performance Indicators) to figure the performance of their social media campaigns. Reddit is among one of the many social media channels that have emerged as an operative source of referral traffic. Therefore, marketers
must consider defining the social media KPIs for Reddit or the Reddit KPIs.

Marketers can optimize their Social Media KPIs once they define
& quantify them aptly to conclude the data points measured. Leveraging
social media KPIs in the year 2019 & beyond will be an unbeatable approach
for marketers to figure out the loopholes in their marketing strategies &
will guide them on how to set social media KPIs to optimize their marketing
& other core bottom-line endeavors such as sales revenue & return on
marketing investment (ROMI).

Marketers can also imply the insights gathered from the trend
mapping of the social media KPIs over a while (generally over a quarter or for
six months) for impactful brand storytelling reflecting on the value
propositions of their products or services.

According
to HubSpot, over 40% of the world’s population is on social media. Furthermore,
according to Emarsys 42% of the world’s population uses social media this
nearly amounts to 3.2 billion users across the globe.

Another
study by Emarketer reflects that 90.45 of the Millennials, 77.5% of Generation
X & 48.2% of the Baby Boomers are active on social media platforms.

Hence, it is critical for businesses to architect impactful
strategies for measuring & optimizing their social media KPIs for all the
important social media channels including Reddit.

In this blog post, we pass the baton to the Reddit KPIs from the preceding parts where we had elucidated the strategies to define & measure the Social Media KPIs for other popular social channels including Facebook, Twitter, Instagram, LinkedIn, YouTube & Pinterest.

Defining Reddit KPIs is Imperative
for the optimal use of Social Media KPIs

Reddit is an American social media channel
with an aggregation of news, web content rating & website discussions. Reddit
is a largely untapped social media website & with 330 million active users
is at par with Facebook & LinkedIn in terms of traffic.

After the recent algorithm update by
Facebook, it is more difficult for the marketers to target their user base
& in such a situation Reddit comes as a savior. Reddit brings users
together to share, comment on & popularize different pieces of content.

The marketing strategies for Reddit are
different from other social media channels, are a bit unpredictable &
hence, measuring the efforts of marketing can be difficult as long as the
marketers don’t opt for a unique approach.

Despite all the challenges Reddit needs to
be leveraged by social media marketers, especially those who wish to make the
most of this untapped & rewarding marketing niche.

According to the Search Engine Journal,
"every marketer should be on Reddit”. SmartInsights terms Reddit to be an
innovative platform that provides a break from the mundane & “same old
marketing channels.”

Reddit is a true community of people who
love great content. Spams are despised & they may also lead to the profiles
getting blocked.

With the advent of Reddit Profile Pages,
marketers can project themselves as brands on the social channel, which wasn’t
possible a year earlier.

The following are the Reddit KPIs worth
considering:

1. Karma:

“Karma” is a unique Social Media KPI of
Reddit. Based on the upsurge in the Karma, the organic, as well as the
Reddit-reach of a post, gets improved.

The Karma is directly proportional to the
number of upvotes & inversely proportional to the downvotes on a post.
There are two types of Karma:

  1. Like Karma &
  2. Comment Karma

Tracking Karma is important. A sudden
decline in the Karma on a post might indicate the following:

  • The users on the website aren’t finding the content relevant enough to match to their interest areas

  • Who-ever is posting the down-voted content isn’t
    probably engaging with the community as much. He / She might be writing posts
    that people simply don’t like; either because of its irrelevant context or
    simply because the tone failed to make an impact.

2. Total Number of Ask-Me-Anything (AMAs) Hosted & Participated in:

AMAs are also an exclusive metric of
Reddit & can be considered amongst important social media KPIs about
Reddit.

Using AMA, the experts from several niches
post AMA posts & invite users who aren’t industry experts or haven’t hosted
an AMA yet, to ask them anything. The marketers can themselves also host AMA campaigns,
provided they get their identities as subject-matter experts validated by the
Reddit team.

Participating in AMAs is a great way to
get some additional organic traffic by improving engagement while hosting AMAs
is even better, as it helps the brands establish themselves as pioneers in the
field by inviting people & amateurs from the marketplace to ask them
anything, & thereby also helps in receiving upvotes.

3. Brand Followers:

This metric is a bit difficult to quantify
& only about 1% of the total users on Reddit have access to it (this
doesn’t mean the number of subscribers engaging with a particular subreddit).
It gives the total number of users who have chosen to subscribe to & engage
with the posts being created by the brands, daily.

4. The total number of Nano-Influencers engaged:

This metric helps to quantify the number
of nano-influencers who have chosen to engage with the posts of a particular
brand. The total number of nano-influencers is also an important Social Media
KPI concerning Reddit.

Nano-influencers are the people with a
past track record of impactful posts and in-turn have a huge fan following.
Engaging nano-influencers with the brand’s post gives the marketers a chance to
bank upon the list of people who are following the nano-influencers for upvotes
& other actions oriented towards optimizing sales conversions for the
brand.

5. Brand-Disoriented Posts:

Redditors aren’t a huge fan of brand
advertising. So, creating pieces of content that are only inclined towards the
products or services of a brand might repulse the prospects away.

The conventional content-oriented posts
might backfire on Reddit. So, the social media managers must establish their
brand equity on Reddit that has just been written to match the up-to-the
interests of the potential buyers & are devoid of any advertising
intent.

Measuring the brand-disoriented posts may
help social media marketers to tweak their Reddit content strategy & make
it a perfect blend of product-promotion related & brand-disoriented posts.
Thus, brand-disoriented posts are amongst important social media KPIs for
Reddit.

6. Cost per Thousand Impressions (CPM) for measuring the effectiveness of Reddit Ads:

The Ads on Reddit are slower as compared
on other social media platforms & work based on Cost per Thousand (CPM)
impressions. Cost per Thousand Impressions is one of the important Social Media
KPIs for Reddit.

The marketers should measure their CPM
costs & integrate it with the benchmark data available for the industry
& the competitors to derive insights about what can they do differently to
maximize the impact of their ad campaigns.

7. Promotions:

Running promotional campaigns on Reddit is
fine as long as it resonates with the business objectives of an organization
& focuses on resolving a particular problem related to the audiences and
doesn’t make for advertisement oriented content. Therefore, promotions are also
amongst the important social media KPIs for Reddit.

8. Comments Received:

Comments are a reflection of
user-engagement. If comments aren’t received on a particular post, this implies
that the content is not impactful enough to captivate the attention of users.

The marketers should also ensure that they
engage with the prospects better by replying to the comments being posted by
them.

Engaging with audiences via comments does
more good to brand communities on Reddit as compared to other social media
platforms. Therefore, comments are amongst the important social media KPIs for
this social media platform.

9. Referral Traffic being fetched by Reddit:

Building a well-engaged list of followers
on Reddit must contribute to the website traffic. Contribution to website
traffic is one of the many ways to measure the conversions generated by Reddit.

Using tools such as Google Analytics, the
social Media managers can track the percentage of their website traffic that
comes through Reddit & then can also measure what percentage of the viewers
from Reddit perform the requisite action on the website, likely to boost the
website conversion rate. Thus, quantifying the referral traffic driven by
Reddit is amongst the important Social Media KPIs.

Bringing It All Together 

Developing new Reddit KPIs may require a
bit of a test-run & split-testing in part because Reddit is a unique
community amongst social media members & partly because Reddit allows the
marketers to tap into new niche audience, wherein advertising is slow &
trailblazing is required before some hard & fast, industry-specific trends
can be established.

Nonetheless, this social media platform
has immense potential as an impactful & less-explored marketing channel for
marketers across the globe.

Using the base social media KPIs such as
reach, engagement, conversions & customers, the marketers can further deep
dive & review their business objectives & brands’ visions to come up
with impactful strategies to define & measure the individual social media
KPIs, including the Reddit KPIs.

We, at Valasys Media, employ multi-channel
marketing strategies including social media marketing to help our B2B clients
optimize their core bottom-line endeavors such as optimized sales revenues
& increased Return on Marketing Investment (ROMI). Our custom-made services
include lead generation, account-based marketing, lead nurturing, event promotion services, list building services & content syndication services.

For recouping the trajectories to perennially healthy sales pipelines, get in touch with our team of experts.

Social media channels are among the primary marketing channels as they are used by billions of people worldwide for entertainment, socialization & consumption of pieces of information including brands’ news & product launches.

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