Social media analytics collects data and metrics that show how a social account performs. These metrics can help marketers with various tasks, including informing strategy, planning campaigns, and content ideas, and monitoring progress.
Reach
Social media analytics tools track various metrics, including reach, engagement, and website traffic. To make your tracking effective, align those metrics with your marketing goals. This can help you determine what kind of content works and how much visibility it gets. Marketers can use their guide to social media analytics to identify trends and patterns that will guide them in creating more engaging and conversion-oriented content. They can also use this information to stay ahead of competitors and industry trends. When evaluating your options for social media analytics solutions, look for one with predictive and prescriptive capabilities. While prescriptive analytics makes suggestions for enhancing performance, predictive analytics assists you in understanding what is likely to occur.
This way, you can make your strategy more effective and ensure you are on the right track to achieving your marketing goals. This can include boosting engagement rates, increasing reach, or driving more website traffic.
Engagement
Your social media following size is a great way to gauge your audience’s interest. But audience size is only one piece of the engagement puzzle. You want to focus on those commenting on your posts, sharing them, and visiting your website.
The best way to gauge your audience’s engagement is through analytics, which helps you see what works and doesn’t. This allows you to test and experiment with new strategies, messaging, and posting schedules. A clear overview of metrics also helps you identify any performance dips and take action before they become a more significant issue, such as negative comments or a social media crisis.
You can also benchmark your performance against competitors to understand the social landscape better. This helps you fine-tune your marketing strategy and create genuine relationships with your audience. Plus, you can avoid wasting money by identifying which platforms are most effective at driving your desired goals.
Conversion
Social media conversions are the ultimate goal of any marketing campaign. These are when your viewers make the desired action happen – anything from purchasing products or services to filling out a contact form or downloading an ebook. The key to successfully driving social media conversions is understanding your audience and what motivates them to take the next step down your marketing funnel. For example, one of the best ways to build trust and ease the concerns of potential customers is to use social proof, such as customer testimonials and reviews.
Fortunately, measuring social media conversions is easy, thanks to Google Analytics. This tool tracks the goals that you set up as conversions, including Assisted Social Conversions (visitors who clicked on a link from social and later searched and purchased through Google) and Interaction Social Conversions (visitors who click on a specific post and complete a goal within the same session). You can view this data by clicking the Admin tab in Google Analytics and selecting “Conversions” under the “View” menu.
Conversion Rate
The one thing most marketers dread the most is a failed social media campaign. A failed campaign can not only cost time, effort, and morale, but it can also eat into precious marketing dollars.
To avoid a failed campaign, it is essential to understand your audience. This can be achieved by using social media analytics to track demographics and trends across platforms. This can help you identify the content performing well and which campaigns must be fixed.
Setting clear goals for your social media marketing efforts is also essential. This can be done by choosing measurable metrics that directly reflect your goals. Additionally, it is essential to use a unified customer experience management (Unified CXM) platform that can comprehensively analyze your social media activities and the performance of your campaigns. This can help you make informed decisions and improve your ROI.