Without the correct KPIs and reporting metrics in place, there is no way of really understanding if you are concentrating your efforts in the right places. You won't be able to say what, when or why a piece of content encouraged more engagement than another, and you probably won't be able to compare it to past or future activity. Worst of all, you won't know the commercial impact of your social media activity -- how does social media impact leads or sales? 

So in short, you'll have absolutely no idea how well your social media activities are working. 

You may also be focusing on the wrong metrics such as pursuing 'likes' or 'followers' numbers, rather than engagement. Growing your numbers can be tempting, but if they are the wrong people for your target audience (through poor targeting), there for another reason, or being ignored once they are there (seeing no posts from you), there is little point. 

Time is precious for everyone though, and pilling through endless reports or data, won't be effective. 

- On a daily basis, check the in-built insights reports for each platform -- monitor daily fluctuations to be able to spot a change quickly and react e.g. a sudden spike in brand mentions or engagement on a particular post. 

- On a weekly basis, as well as keeping an eye on your follower numbers, look at what is happening as a result e.g. referrals from social to your website, time on page/ visit depth, sales, goal conversion etc.

- On a monthly basis, compare performance month on month, compare periods to prior year, look at KPIs affecting acquisition, engagement, conversion and retention.