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What is social media analytics?
Social media analytics refers to collecting data and metrics that help you measure your overall social media performance. This helps marketers understand which types of social media content best resonate with their audience so they can shape and adapt their strategy accordingly.What is the importance of social media analytics?
Social media analytics help marketers with several tasks, from informing their strategy to planning campaigns and content ideas. Five major benefits tracking social analytics can help with.1. Trendspotting
Trendspotting is pinpointing upcoming trends before they’re mainstream, and keeping a close eye on your social media analytics can help you do just that. Some of the trends that your social media analytics can help you determine include:- Which platforms are gaining more traction and popularity (or losing popularity)
- Topics of interest that your audience is talking about (and mentioning your brand in conversations about)
- Types of ads that your audience is interested in
- Up-and-coming influencers and products in your niche
- Types of content that your audience engages with most
2. Brand sentiment
Brand sentiment ultimately means how people feel about your brand. It includes all positive and negative feelings discussed online, and your brand sentiment can be measured through sentiment analysis by looking through your social media analytics. This can help ensure your audience is happy with your business and that you can detect and manage any unhappy customers.3. Value perception
Value perception (or perceived value) refers to the overall customer opinion of your brand’s product or service and whether or not it can meet their needs. Perceived value is key to determining demand and even the price point of a product or service. For example, if your product has a low perceived value, customers will only be willing to pay a little. You can measure value perception by using social listening tools and monitoring the analytics and data from those dashboards. This can help drive your strategy, guide the content you create to improve value perception and showcase how your product or service can hit key pain points.4. Setting social media goals
Social media analytics can also help you see which channels and content are performing well, helping you to create actionable and realistic social media goals and objectives. The key word here is realistic. If you look at your social media analytics and realize your Instagram account is growing by 10 followers per week, trying to jump from 5,000 followers to 10,000 followers in a single quarter is not a realistic goal, even if you revamp your posting strategy. Instead, you could make a goal where your account grows by 20 followers per week and steadily increases that goal. This way, you can consistently improve your campaigns and increase your goals to get free Instagram followers organically5. Proving ROI
Finally, your social media analytics can help to prove the ROI of your social media marketing efforts. Each time you run a new campaign, monitor your social analytics to see how the content is performing, if people are clicking on your website, and if you’re generating new sales. UTM tracking and URL shortening are two ways that make proving ROI via analytics even easier. This way, you can track specific campaign clicks and purchases that lead back to your social media efforts.What are the types of social media analytics?
You should monitor several different types of social media analytics that can help guide your strategy and discover various data and information. We’ll walk you through the six main types of analytics below.Performance analysis
First and foremost, you need to measure the overall performance of your social media efforts. This includes social media metrics like:- Impressions
- Reach
- Likes
- Comments
- Shares
- Views
- Clicks
- Sales
Audience analytics
Next, you’ll want to take a look at your audience analytics. This will help you discover which audience demographics your audience is reaching—and ensure they match up with your target audience. If not, you may need to adjust your content strategy to attract better those you’re aiming to reach. Audience analytics will include data like:- Age
- Gender
- Location
- Device
Competitor analysis
Another key area to look into is how your competitors are doing on social media. How many followers do they have? What is their engagement rate? How many people engage with each of their posts? You can then compare this data to your own to see how you stack up and how realistic growth in engagement may be for your goals. Using a tool like Sprout, you can gather all this data in one place and measure it network by network.Paid ads analytics
You want to ensure they perform well when you’re putting money behind specific social media posts. This is why you must pay close attention to your paid ads analytics. Some of the most important ad analytics to measure include:- Number of active ads
- Clicks
- Click-through rate
- Cost-per-click
- Cost-per-engagement
- Cost-per-action
- Conversion rate
- Total ad spend
Influencer analysis
If you’re running influencer marketing campaigns, tracking the success of these partnerships is essential to proving ROI. Some of the data you’ll want to keep track of include:- Number of posts created per influencer
- Total number of interactions per post
- Audience size of each influencer
- Hashtag usage and engagement
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