Creating content and publishing the content on social media is very important part of every social media marketing strategy.
But how many really know how a piece of content performs on social media?
How many retweets did your post get on Twitter?
Which kind of content is performing well and is liked by your social media audience?
Tough questions right?
With millions of posts on social media, checking the performance of your post and comparing it with other similar posts or your competitor posts is indeed an impossible task for a social media manager if all this has to be done manually.
The only way this can be done is by measuring social media performance with the help of right social media analytics tools.
What Is Social Media Analytics?
Social media analytics or social media metrics, which is gaining huge importance with brands, is an exercise of monitoring and examining social media performance.
Brands are using it extensively to understand each action on social media such as likes, comments, tweets, retweets and of course to measure big social media campaigns.
Benefits Of Social Media Metrics
Brands are investing big time in social media analytics. This is surely due to the great benefits that it brings.
ÔÇ£If youÔÇÖre a business, the takeaway is that sharing without analytics is essentially useless, that engagement is not as valuable as insight, and that seeing things in context is more important than being popularÔÇØ
- Says Brian Solis, Principal Analyst and futurist at Altimeter,
Social media data offers valuable insights into how your audience interacts with your brand and with your competitors.
The top 5 benefits of social media analytics is listed below:
To help you to target customers better
To introduce marketing innovation
To gain competitive advantage
To learn from the behavior of your customers
To enhance your products offering
A brand with a well-defined social media strategy combined with proper measurement will lead to business and marketing wins.
5 Key Social Media Metrics
Brands are gradually understanding the importance of measuring the social media ROI (Return on Investment).
But most of them struggle to understand which areas to be measured. There are so many different aspects that can be measured but may not be too useful.
Here is a list of 5 social media metrics that really matter to your brand:
Engagement Rate :
An engagement rate is an important metric where the interaction of the audience with your content on social media is measured. The likes, comments, shares, retweets, pins and much more is included into the measurement of engagement.
Social media reach refers to the number of social media users who can have contact with your social media posts. In simple terms it is the total number of people who see your content. Social media reach is useful to track marketing campaigns, hashtags, social media events, social media profiles, follower pages.
Social media influence represents the extent your social media content is shared and also the influence of the social media user who shares it.
Conversion refers to the actions taken by your audience upon seeing your social media posts or after visiting your website. A conversion could be email subscriptions, filling up forms, or even a sale of the product. For example when you are able to capture the emails or phone numbers using a campaign, then it results in conversion.
Acquisition on social media refers to the act of building and maintaining relationships to retain customers. This simply refers to the actions that you take to acquire a follower, reader or a subscriber on social media.
Top 5 Tools for measuring social media metrics
Sproutsocial is a data driven social media analytics tool that helps you to monitor the performance of your brand.
The tool will allow you to compare paid advertising versus organic impressions. You can calculate the impact of advertising spend on your company page growth.
With Sproutsocial you can also analyze page and post level data that includes engagements, audience growth, impressions and all other demographics on your social pages.
Buffer analytics is a tool that allows you to see your most liked posts, retweeted posts and clicked posts on social media.
With the help of the data relating to most clicked or least clicked posts, you can know which posts are doing well and which ones you can discontinue since they are not getting clicks. It will give you an ideas of things that resonate less with your audience and based on that so fine-tune your content.
Brand24 helps marketers and business owners to keep track of your audience and their activities on various social media. The dashboard gives you details of the sources that generated the most content in both Mentions and Analysis tabs.
This tool collects the mentions based on the keywords that are predefined. The keywords can be the brand name, product name, influencers, or any such topic that is of your interest.
All the comments relating to the keyword from all social media platforms such as Twitter, Facebook, websites and any other blogging platforms are consolidated into one dashboard. With the help of the dashboard you can retrieve the information about the source of traffic.
Brandwatch is a social media metrics tool that is useful for social media marketers and business owners who prefer a data-driven user interface. Brandwatch is used for social media monitoring allowing your business to analyze and utilize business conversations from across the social web.
Brandwatch Analytics can crawl the social media and archive the voluminous social media data that is gathered from at least 90 million sources and in 27 languages. You can perform searches on the data in BrandwatchÔÇÖs web-based interface, proactively or retroactively to search for social media mentions of your brand or keywords.
Cyfe can be used by social media marketers who need to not only monitor social media analytics but also pull data-driven insights from various social media accounts. This data is used to optimize critical elements like reach, posting schedules, influencers and ROI.
With Cyfe, you can track followers and fans who are very important to accurately plan your content production. With the right demographic data you can understand where your target market is, which platforms to use and if whether your current platforms are worth the effort.
Demographics report of Cyfe, help you understand your customer not so that you know what and when to sell to them.
Business and brands who are into social media marketing can bring a lot of difference to their marketing strategies and tactics just by monitoring your social media.
But ItÔÇÖs not possible to manually monitor everything across so many different social media channels due to limitations such as time and accuracy. Social media analytics tools have therefore become an essential component of every social media marketing strategy.
As a Brand if your social media presence is growing, then you will need to consider investing in social media analytics tools. These social media analytics tools have evolved over the years and are now providing really useful functionalities.