Many businesses are not fully aware yet that there is a hidden wealth of data and information from their social media activities. Every post your business makes, all of the interactions made and generated from your followers, all of the comments left and replied to all make up your social media analytics. As a whole, the information gathered from everything can greatly benefit your brand and help you build your business more effectively. The way you market your business in the future can be done using the unique information the analytics gathers from your social media platforms.
How Using Social Media Analytics Helps
When you are looking to get the most out of your social media efforts, you need to track the results from your marketing campaigns and your social media engagements. The basic software can allow a business to track comments, likes, shares, clicks and other types of engagement coming from your online audience. Companies like NetBase offer social media analytics for businesses to use so they may gather important data from their social media platforms. This data can then be used to guide marketing efforts and business decisions.
Building Your Brand Using Social Media Metrics
Using social media analytics, a business can track different metrics to help build its brand quickly and effectively. The analytics software can help businesses identify the social data that is most relevant to analyze. Below are some of the top metrics a business should be tracking through their analytics in order to grow their company and beat out the competition.
- Audience Growth Rate- The benefit of this tracking metric is that it will allow a business to connect its profits directly to their social media analytics data. The audience growth rate will also allow your business to evaluate the effectiveness of your marketing efforts over specific periods of time without the unnecessary distractions from irrelevant information.
- Engagement- When used properly, engagement numbers can help businesses make meaningful and actionable decisions. As your audience growth rate gets better, you will need to track the data that shows you if your growth is due to an increase in the right audience. The average rate of engagement will be compared to your post’s engagement through your overall base of followers. This metric will allow you to highlight your top brand influencers in a sea of mostly silent followers.
- Acquisition- Another important metric you need to track using social media analytics is the visitor frequency rate. The benefit from this is the ability to optimize new and returning website and social media platform visitors. The data showing your amount of return visitors is important because it can indicate your business’ depth of engagement and the overall strength of your business in social media networks.
- Conversion- The assisted social conversions is an important metric for any business to track. It will be able to show any business how well social media interaction is turning into profits. While getting new and return visitors to your website through social media is important, turning those visits into sales and profits is the desired outcome. On the other hand, you don’t want to be too pushy with your audience for the sake of sales. Businesses can quickly lose their audience when pushing their products incessantly.
- Activity- Customer service is an important part of every business and can greatly affect the bottom line. This metric goes beyond content types and forum post counts to connect your business’ social media activity with customer service interaction times. Your company savings from social media is measured by the average time it takes for a customer to receive a response from customer service.