Social media analytics is a very powerful tool to assist you with improving your marketing efforts. It can give you valuable insights into interactions the users have with your content, where they are from, what engages them more and if your campaigns are successful or not. Let us read more about how it powers social media and maximises your ROI.
Understanding Social Media Analytics
Harnessing the data provided by social media analytics, you can make informed and data driven decisions. So let us first check how analytics works.
1. Audience Insights
If you get the right data about your audience, then you can easily modify and tailor your content accordingly. You can plan campaigns that will resonate with your audience. To understand your audience, you need data regarding their demographics, interests, and preferences. This data is easily available through social media analytics.
2. Performance Measurement
In social media, the parameters that measure the performance of your marketing campaigns are reach, engagement, conversions, sales and click-through rates. Using these insights, you can understand which of your campaigns worked and which did not perform as expected. This data is crucial in planning your next campaign for better results.
3. Competitive Analysis
Apart from monitoring your personal growth and performance, social media insights can also help you get an idea about your competitors. Imagine what you could achieve by having knowledge of the weaknesses, strengths, and audience of your competitors. You can now refine your strategies based on the analytics.
Leveraging Social Media Analytics
Now you have understood what data social media analytics can give you. So how can you utilise this to your best interests is what we will explore now.
1. Set your goals and KPIs
You need to have a goal and related KPIs to understand if the analytics has helped you reach them. So set a clear goal aligning with your company norms and requirements. Now you can define the KPIs that can help you measure the performance.
2. What to track
You cannot track everything and go after all that you see. You know your goals and have define KPIs, now you have to focus on those and get deeper insights on those metrics. Having a focused metrics group, you will be able to drive your end results faster and efficiently. Some essential metrics are engagement from likes, comments, shares; sales from direct purchases through DMs and conversions from follower count.
3. What content to use
Social media platforms can show you the analytics for each of your contents, be it a post, story or interactions with others. This data will give you insights about the type of content that most of your audience likes. There will be certain patterns in the likes, comments, shares count, so dig deeper into such insights and plan your content.
4. What time and frequency to post
Another benefit of using social media analytics is the data related to the time when your audience is most active. Having this data will help you make strategic decisions when to post your contents, both time wise and date wise.
5. Brand awareness
You can check how your brand is doing in the market with analytics. Every time someone mentions or tags your account, you get notified. You can then check out those contents to understand what others think about your products and services. UGCs and customer feedback are the insights that helps you understand the reach of your brand. Respond to those comments and make the most of it.
6. Using A/B testing
The last but important step is to do a check of the strategies you have used following the analytics. A/B Testing refers to testing out two variants and finding which works the best. You need to create variants of your content in various formats like text, video, audio and also check variations of visuals, headlines and call-to-action buttons. This testing will help you identify which one works the best.
As we conclude this article, it is important to note that you will have to keep tracking your performance using social media analytics regularly. Social media is very dynamic and will keep changing daily. What worked today may not work for you tomorrow. So keep a regular and constant check to keep improvising your strategies timely.