Due to the proliferation of online communities, advertisers have a plethora of options for reaching large audiences via social media and other online channels. If you’re trying to figure out where your business stands in terms of measurement and tracking, a social media audit is your secret weapon.
The purpose of this article is to discuss the following takeaways from a social media audit for businesses:
- The definition and utility of a social media audit template
- How to fill out an audit plan
- Core Key Performance Indicators
- Guidelines for Using a Sample Social Media Audit (plus a free template for you to use)
- With the proliferation of social media, there has never been a more pressing need to comprehend these indicators. Already more than 4.26 billion people around the world use some form of social media, and that number is expected to rise to nearly six billion by 2027. These numbers further illustrate why it is crucial for companies to conduct a social media audit:
Instagram users who watched a brand’s story were more likely to go to the brand’s website than those who didn’t.
Sixty-eight percent of consumers say that watching product reviews on YouTube influenced their final purchase.
Statista predicts that by 2023, social media advertising will generate $268.70 billion in revenue as more and more companies realise the potential of this channel. Through 2027, analysts anticipate a global compound annual growth rate of 9.40%.
An audit of your social media accounts: what exactly is that?
An audit of a brand’s social media presence can reveal insights into its performance and serve as a benchmark for future initiatives. It allows for the investigation of novel growth strategies and the illumination of methods to enhance their social tactics.
In addition, it serves as a guide to consumers’ emotions, illuminating what strikes a chord with different demographics. This in turn aids in the creation of more targeted marketing campaigns, the launch of new products and services, and the enhancement of existing ones.
The purpose of a social media auditing template
Auditing your brand’s performance on social media with a premade template is a great way to save time and effort.
If performed on a regular basis, a social media audit will quickly reveal what is working, what is not, and what should be improved. You can monitor your brand’s progress over time by conducting a social media audit each month using a spreadsheet to compile audience data from your brand’s social media pages and monthly accounts. A comprehensive review of your social media profiles (Facebook, Twitter, Instagram, Snapchat, Reddit, and any others you specify) is provided.
What Should Be Included in a Sample Social Media Audit
It’s difficult to make sense of everything when you consider all the channels and data at once. Indeed, this is where having a sample to refer to comes in handy. All your social media accounts and related activities can be managed in one convenient location. A social media auditing template typically consists of three steps:
Present situation: where you are right now, what kinds of campaigns and efforts are underway, and which social media platforms you’re using.
Efficiency: how productively you are using social media. To what extent do people actively interact with your brand? But what about how we feel? What role do these metrics play in influencing the bottom line of a company?
During a social media audit, the opportunities section is the most important. Is there a new craze where you can set the pace? So, what about the possibilities presented by the white space?
Your brand’s performance on social media platforms like Facebook, Twitter, TikTok, LinkedIn, etc. can be analysed with the help of this handy template by monitoring the aforementioned KPIs.
Besides These KPIs, There Are Others You Should Track
You can learn more about your brand’s overall performance by looking at additional metrics in addition to your reach and a post’s performance. To succeed as a brand, you need to pay close attention to things like demographics, which help you understand your audience and tailor your messaging, and sentiment, which shows you how consumers feel about you. Consider hashtags and the proportion of voices heard; let’s investigate!
The demographics of each platform will be unique. The results of a social media audit can shed light on why a particular post does well on Facebook but not on Reddit.
Opinions in Society
In addition, there is always the issue of social sentiment. This crucial indicator shows how customers feel about your brand or specific offerings. See below for an established name in the realm of online food delivery as an illustration. They hit some rough patches last month, resulting in a negative -8% on a scale from -100 to 100.
Disparity in Social Influence
How do you compare when compared to the competition? In social media, your “share of voice” (SOV) measures how often your brand was mentioned in comparison to that of your rivals. It demonstrates your company’s standing as a leader in the field.
Using SOV, you can find out what your rivals are doing right and model your own strategy after theirs. It also reveals any potential weak spots, so you can position your own brand to appeal to customers who are turning away from the competition.
Have your hashtags examined as part of a social media audit. Hashtags can help you get more eyes on your posts and ultimately, your brand. On Twitter, using a hashtag can increase engagement by 100%, and on Instagram, using a single hashtag can increase engagement by 29%. Hashtags are obviously successful, which is why you should monitor your own hashtagging activity.
When contrasting your social media hashtags, Rival IQ once again provides a useful comparison tool. To help you get more likes, comments, and shares on future posts, it can tell you which hashtags have been successful in the past and help you find trending hashtags to incorporate into your own.