Trying to up your social media game but don’t know what things mean? Here are some key terms you should know.
CLICKTHROUGH RATE (CTR)
Click-through rate or CTR is a very popular social media marketing term which forms part of almost every activity on any social media platform. It is a measure of the percentage of users that click on your post. It is calculated by dividing the number of link clicks by post impressions or the number of views. The higher the CTR score, the better for a business.
ALGORITHM
An algorithm is a mathematical system used to solve problems and deliver results. In social media, an algorithm refers to a set of rules that help search engines rank, filter and organize search results and advertisements. Marketers are constantly vying to beat social media algorithms to improve their rank in social media ads and content placement.
CONVERSION RATE
This is one of the most important social media marketing terms. Conversion Rate in social media terminology refers to the percentage of users who follow through a social post or an ad’s call to action. This can be a download, purchase, or some other desired action depending upon the marketer’s conversion goal. Conversion rate is one of the top indicators of a company’s marketing strategy performance.
ENGAGEMENT RATE
Engagement rate is a metric that tells how much interaction social media content earns from followers. It is calculated as the percentage of users who engaged with your post of the total number who viewed it. A good engagement rate (1-4%) indicates an effective social media marketing campaign.
IMPRESSIONS
Impressions are the number of times your content has been shown on the feeds of social media users. A viewer doesn’t need to engage with a post in order for it to be counted as an impression.
KEY PERFORMANCE INDICATOR (KPI)
A numeric unit used to measure the progress of your social marketing strategies and campaign goals. KPIs are frequently used to track progress in brand awareness, lead generation, sales conversions, etc.
