When using social media, there are chances that there is a goal you want to achieve. This could be to get more clicks, more conversions, or even more followers. If you are serious about growing your social media profile and achieving your goal, it’s essential to check your social media analytics. Here is our guide on using analytics for growth strategy.
What are social media analytics?
Social media analytics refers to the data and metric that informs your marketing decisions. The data can help you decide if your content is resonating with your audience so that you can adjust and change your strategy accordingly.
Types of social media analytics
There are several types of social media analytics. These include:
This metric measures the performance of your overall social media strategy. The information provides an overview of which content best resonates well with your audience. These metrics include:
You will want to determine how your competitors are doing on social media. You should check the number of followers they have and the post engagement rate. After this, compare the data with yours to see if there are areas you can improve on.
As the name suggests, this analytics provides data on your major audience. Consider this data to see if you are reaching your target audience. If not, consider changing your content strategy to align it with your data strategy. This analytics will show you data such as age, location, gender, and device.
Are you promoting your posts or pages on social media? If yes, you want to find out how they are doing and if you are getting returns on your investment. When checking your paid ads analytics, you should look into details such as:
- Click-through rate
- Cost per click
- Conversion rate
- Total amount spent on ads
- Cost per action
You will also want to measure the sentiments on your brands. You can use social listening methods that will help you gauge the conversations on your brand name. This will give you an idea of how customers feel concerning your brand.
Influencer performance analysis
If you do influencer marketing campaigns, you need to see if these campaigns are bearing fruit constantly. You should ook into:
- Number of posts created by the influencers
- Interactions on the posts
- The influencer’s audience size
- The hashtag they are using and its engagement
With this data, you can determine if your engagement with the influencer is bearing fruit or not. You can also assign promo codes for influencers to use so that you can determine the number of sales each influencer is bringing.
How to measure your social media analytics
Here are the steps to follow when measuring your social media analytics:
Determine your Key Performance Indicators(KPIs)
As we have noted earlier, there are lots of KPIs that you can track. Therefore, the first step should be to determine which of these ones matters for you. By identifying and prioritizing these KPIs, brands can leverage relevant data to determine which platforms work best for their brands. It can also show them the content best suited for their audience.
Choose your data analytics tools
After understanding the KPIs you want to track, you should now find a good tool that will help you collect and analyze your data well. Ensure you select a good tool with a simple-to-use interface that aligns with your goals. Some of the most popular social media analytics tools are:
- Sprout Social
Also, remember that most social media platforms have built-in social media analytics tools that you can use. However, you will miss some analytics, such as sentiments and competitor analysis. That’s why you may want to go with a third-party tool. The key thing is to find a tool that will match your goal.
Measure your metrics
You can now measure analytics across different channels to see what is working and what isn’t. This will also show you the areas you need to improve. Consider how the performance measures across your defined metrics. Are there trends that your content creation teams need to know about? Were there posts that were more successful than others?
Apply the Insights
Unless you use the insights you get, tracking will serve no purpose. This is why you should ensure that you apply the feedback you get to your future campaigns. If you find your marketing efforts aren’t bearing fruits, consider using social media promotion services to improve your metrics. Keep repeating the same process over and over again.
Tracking your social media metrics can help you achieve a better marketing strategy. You can determine your high-performing content to achieve higher conversion through social media analytics. By following this guide, you can track the key analytics to enable you to keep improving your campaign.