What is social media conversion rate?
Social media conversion rate is a social media metric that measures the percentage of your audience that is converting, as a result of your social media marketing efforts. Converting refers to – when some user takes the action you were intending for.
For example, someone lands on your website and makes a purchase after going through your social media post.
How to calculate social media conversion rate?
To calculate the conversion rate of your social media marketing efforts, divide the ‘number of conversions’ by the ‘number of website visitors’ and multiply by 100.
You’ll need to consider metrics related to your intended action like – the number of downloads, number of form sign-ups, number of purchases, etc.
Formula for calculating social media conversion rate
Real-life example of social media conversion rate
Look at this example of social media conversion rate:
Say, you shared a post on your social media announcing your upcoming workshop and attached a link to your website’s registration page. You intend to direct your audience to your website and make them sign up for your workshop. You received 10,000 website visitors originating from the post you shared. Out of those, 500 signed up for your workshop.
Then your social media conversion rate will be: 500/10,000 x 100 = 5%
What’s considered a good social media conversion rate? (benchmark)
A good conversion rate for social media is considered to be between 2% - 5%. Though your social media conversion rate will differ based on your follower count, reach, impression, industry type, and other factors.
The average monthly conversion rate on Instagram is 19.7%, whereas Tik Tok ads had just 2.3% but a 14% conversion rate for organic posts.
The average conversion rate for Facebook ads across all industries is 9.21%.
For an industry-wise breakdown of Average Conversion Rates on Facebook, take a look at this report: Average Conversion Rates on Facebook
Ways to increase your social media conversion rate
- Prioritize user-generated content: 79% of people say that user-generated content on social media significantly impacts their purchasing decisions. Users will rely on other people’s opinions over your aggressive advertising, so it becomes important to consider UGC in your social media strategy.
- Create a click-worthy post: The first step to inviting your audience to your website is your social media post copy. If your post isn’t compelling you’ll lose the first battle itself. Follow these best practices: 22 Ways to Write More Compelling Marketing Copy
- Make your landing page mobile friendly: With mobile ecommerce on the rise, it is a no-brainer for brands to make their landing pages mobile-friendly and create a seamless experience for mobile users.