The first step to social media success is to do the math and determine what strategies will yield the best results for your brand. You may improve your social media strategy and attain the outcomes you want with the help of social media analytics by determining what you’re doing right and what you could do differently.
Put simply, what is social media analytics?
Analyzing a brand’s performance across various social media platforms is known as social media analysis. By comparing and contrasting a number of KPIs, you can gain useful insights that can enhance your social media strategy.
Whether you work full-time as a social media analyst or side gig as the team’s data nerd, you’ll need to master these skills for social analytics to succeed.
Dig up the necessary information.
Get a read on how you’re doing.
Think of ways to boost your brand’s social media presence.
You can really step up your analytics game by mixing in some competitor benchmarking and social listening.
Why is it important to use social media analytics?
By analysing your social media data, you can gain valuable insights regarding the performance of your material, which you can then share with the rest of your marketing team and use to plot out ways to boost your profile’s popularity.
Social media analytics provides a head start when it comes to developing marketing strategies and releasing content.
If your brand’s social media manager, for example, wants to determine the optimal time to post on Instagram, an analyst would have the numbers to back up that claim. Our Benchmark solution’s graph below reveals that while the most postings throughout the study period were made around 11 a.m., the most interaction occurred between 5 and 6 a.m.
To see if scheduling posts between 5 and 6 am increases engagement, your team should do so.
Ways to analyse social media for trends and patterns.
Establish your measurements
Even though social media management tools provide you with mountains of raw data, you’ll still need analytics if you want to make sense of it all.
Ponder the eventual goal(s) of your social media activity. The metrics you’ll need to launch your analysis will become crystal clear after reading this.
Some examples of broad metrics to track are:
- Fan base size
- Favorites and preferences
- Discussion and feedback
- Indicators of popularity on Twitter, such as shares and retweets
- Reach \sImpressions
- Don’t forget to include the decibel level.
Messages sent directly to the recipient
Views of Instagram stories that link to external websites
However, the social media goals of every brand are unique. Identify your goal outcome and define the KPIs that will help you get there (s).
Determine what resources you’ll require, and
Now that the metrics have been established, data collection may begin.
I’m curious as to the methods you intend to employ. Analytics tools are available for every major social media platform. Native analytics may not satisfy the needs of a data nerd who wants to dig deep into the social standing of their brand.
Locate an approach that meets your needs and your budget, and then implement it!
Incorporate cross-network data
In other words, you’re using many channels for your social media activities. Your analytics and reports should mirror this.
Get started tracking data across platforms to discover which areas of your plan are proving successful and which need more work.
We love spreadsheets, but it takes a long time to collect all the information from the various services and then manipulate the data in Excel.
You can’t beat an app that does all your dirty work and compiles data from all your channels in one convenient dashboard.
Analyze and draw conclusions
You can now do some serious number crunching now that you have collected all the relevant metrics.
Which of your predetermined metrics do you perform best against?
Could you please share any noteworthy trends with our content team?
How successful were each of your posts?
Just by asking yourself a lot of questions, you’ll find answers that lead to new value.
Put the lessons to use and start over
Maintaining a steady feedback loop is essential to developing effective social media tactics.
Apply everything you’ve learned to your next campaign to ensure your brand’s social media success.
The proper application of social media analytics
Taking a thorough dive into the stats and metrics can help you succeed in the following social media-related scenarios.
Social media analytics allow you to do the following:
Make your social media strategy better.
Learn more about the performance of your brand, the results of your most recent campaigns, and the areas in which you may make improvements by delving into the numbers. Determine your areas of strength and improvement to better utilise them in your game.
You may improve your social media impact and return on investment (ROI) with the help of social networking analytics.
To return to our earlier example of determining the optimal time to post, you would also take into account when your fans are online.
Can you recommend a good time to publish on social media? Why not use Swipe Up links in Stories to increase clickthroughs?
To learn how to make your social media initiatives more successful, data mining can reveal what content resonates most with your target demographic.
The Value of Social Media Analytics
Return on investment (ROI) must be mentioned whenever discussing analytics and data. One of the most important advantages of conducting a social media data analysis is measuring the effect of your social team on the bottom line.
We hope that this detailed explanation of ROI, including its formula and all of its quirks, will make your life a little simpler.
So, prepare some checklists, get out your calculator, and think about how you can demonstrate the worth of social media advertising.