Social Media Analytics – What to Measure for Success?

If you are using social media for business or promotional purposes, then you should know how to measure it. However, when getting on to measure social media, it is not just for the sake of having some metrics, but to measure the effectiveness of the social media campaigns and further streamline it for better results. With proper analytics, you will be able to understand what was successful, what wasn’t, what your target audience expects, and how you can improve.

Two types of measurements

We may find that there are two major social media measurements to consider as:

  • Ongoing analytics – Tracking activities over time and monitoring performance.
  • Campaign-centric analytics – Getting analytics related to each event or campaign to assess its success.

Ongoing analytics will help to track the pulse of your social media communications regarding your business and brand in general. Once you set up the elements of brand tracking, you may just let is run by default and frequently fetch the data to see how it is going.

On the other hand, the campaign-specific metrics will help to understand the actual impact of your targeted content, which may be different from campaign to campaign. An ideal social media analytics program will take both of these measurements in a fine balance.

Monitoring social media analytics

Monitoring your social media analytics may surely distinguish between success and failure of your social media activities. In this excerpt, we are trying to outline what all things you need to monitor on social media and what tools to be used to do proper analysis and reporting or social media campaigns.

Social media analytics compass

It is almost impossible to monitor and measure everything related to social media on every channel at a time. So, we need to determine what is essential for your business and how to do monitoring of it well. For a better understanding of beginners, we will discuss the most critical generic areas of the so-called social media compass, i.e., the most important analytical measures.

  1. Size of the target audience

Many are confused about the matter whether the size of your audience really matters? Of course, it does matter if you are trying to promote a brand or service and building a relevant audience. It is essential to continuously build a relevant audience if you want to take your message to the right people on time.

Your audience will grow gradually through organic methods as well as on investing in paid ads or so. In fact, there is nothing wrong if you plan to invest in audience building tactics if you have a scope of converting the audience into business overtime. You should compare your rate of audience growth over a week or month with that of your competitors. Along with building the audience rate, also keep track of the unfollowers too on the go.

  1. Audience profile

As you slowly grow your audience, it is also essential to ensure that you are building the right type of audience, especially when you are paying for it, deciding whether you are making a worthy investment. Say, for example, if you try to build it through Twitter, this platform will allow you to access reports stating what types of profiles like marketers, entrepreneurs, or musicians, etc. are a part of your audience group.

You can do the same on Facebook also by setting up an ad which is targeted to a specific category of your Facebook target audience. This is also possible on Instagram to get some real Instagram likes. Say, for example; you can do this filtering for a specific interest of people, and see how many of your followers fall in that category to plan relevant campaigns for them. With a smart approach to it, you may perform this profile analysis across all social media platforms. You may use a traditional approach like surveys to most advanced premium tools offered by social media platforms to accomplish this.

  1. Reach and engagement

The campaigners also should monitor the social reach of your content and also see how much actually pay keen attention to it, even if not responding. Lack of responses doesn’t necessarily be non-interest. Engagement is another key aspect of monitoring as some of them with keen interest may engage with your content. If you find no engagement at all, then it may be either be the wrong content or the wrong audience you hit. You may typically split your audience under the following categories.

  • Lurkers – those who simply watch your content, but not interacting.
  • Influencers – They are connected to a large audience and can make an influence among them.
  • Engagers – People who are largely active in your target community and people will start recognizing their names.
  1. Traffic

The primary objective of your social media campaigns is to bring traffic back to your website or product pages. For some promoters, traffic is just enough. Say for example, for a site; they get paid for ads based on the volume of traffic. For the rest, the traffic needs to be converted into sales to meet their objective.

  1. Content analysis

As we have seen, creating content and sharing it through social media is an expensive and work-intensive affair. So, on a regular basis, you need to do content analysis as well to see if your efforts are getting recognized or not. You have to check whether:

  • Whether your images, videos, and text updates work the best?
  • Whether the content you share is in fine balance with the right mix or too much focused-on promotion?
  • Do you have enough engagement on the questions?
  • What changes are there on the social media platforms and what changes it demands from you?
  1. Sentiment analysis

The sentimental analysis covers the negative, positive, or neutral mentions on your brand. The latest social media tools are more focused on measuring the sentiments of the target audience over your brand through their social mentions about you. Even though these tools are not 100% accurate, it can surely be a good indicator of where you go wrong and what to correct.

These are some functional pointers included in social media analytics, which is a far wider specialty. However, it could be a good starting point if you master over these to streamline your social media campaigns to meet your online objectives.

Source: Social Media Analytics – What to Measure for Success? by thomassujain

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