No matter which field you work in, historical data and critical information will always play a crucial role in promoting growth and improvement. The same goes for the world of social media marketing. If you are not monitoring your social media analytics, how will you know your loopholes?
In this generation of digital competitiveness, staying on top is not a child’s play. Every brand and creator is proffering content beyond another’s imagination. However, only innovating ideas without reflecting on your past performances can take you a long way. Hence, social media analytics are the key to making informed decisions likely to grow your brand presence.
Understanding social media analytics
Before you understand the importance of analytics, it is necessary to get your basics straight. In layman’s words, social media analytics is the collection of data concerning your past performance on social media platforms that can help measure your success. The metrics can help marketers understand what the audience is resonating with and what content is consistently performing well.
In short, social media analytics enable you to measure your performance at both micro and macro levels. The metrics enable you to measure the contribution of social platforms to your business. They also provide the opportunity to discover and spot trends, crises, and customer sentiments in advance.
So, if you want to gain more views on YouTube or engagement on Spotify, you must understand social media analytics. You also have many social media analytics tools to help you do the math efficiently.
Types of social media analytics
Now that you understand social media analytics better, let us comprehend the different types of analytics you should monitor concerning your online presence.
The most important metric to look at is audience analytics. It helps you discover your audience demographics and show results if they match your target audience.
Audience analytics consist of gender, age, device, and location. You can also figure out specific topics to build a customer profile with certain tools. The advantage of learning audience analytics is that you can align your future posts with the preferences of the given audience demographics.
Performance analysis includes likes, comments, views, shares, reach, clicks, sales, etc. It is the most important piece of information to help you understand your overall performance.
It will give you a clear idea of how your brand’s content is performing. If you see poor results, it is time to switch up your range by creating content your audience expects the most.
You can also examine how your competitors are doing on the same platforms. You can discover their follower count, engagement rate, and whether they have more loyal customers than your brand.
By closely examining these points, you can incorporate or annul some aspects of your content. You can find the missing pieces and make your content more appalling.
Influencer marketing is the current top marketing strategy for every brand on the internet. However, to monitor your success concerning influencer campaigns and the potential ROI, you have to examine influencer analytics closely.
The information contains the following: the number of posts per influencer, the audience size of each influencer you are working with, and the hashtags the influencers are using to gain traction.
Paid ads analytics
If you are investing money in your social media posts, you cannot afford to bring in a loss. Hence, in order to monitor whether the paid posts are doing well, it is necessary to pay attention to paid ad metrics.
The following data points are the most significant: the number of clicks per post, cost per click, cost per action, total ad spend, and the number of active rates.
Another analysis you need to make is about your brand sentiment. Engage in social listening to learn what people are saying about your image. Doing this will help you understand your brand position among others and the modifications you need to make.
The importance of social media analytics
The reasons why social media analytics are essential for your business are diverse. But below are some points that will compel you to study your performance regularly.
- It will help you improve your social media strategy by eliminating loopholes.
- Data-driven decisions will help you improve your ROI.
- By studying your past performance, you can monitor recurring patterns and trends.
- It will help you immediately identify where your brand is underperforming.
- It will help you commit to your customers and build loyalty by bringing awareness to their preferences and needs. It will improve your customer service.
- Above all, you get to position yourself against your competitors and see your contribution to the conversation in your market.
Social media analytics is the stepping stone to success. If you want to stay on par with emerging trends and audience demands, a thorough study of your overall performance is everything you need.
Ellen Diamond, a psychology graduate from the University of Hertfordshire, has a keen interest in the fields of mental health, wellness, and lifestyle.