Social media can offer something for everyone—and its impact can be instant. But, without proper backing of data, no strategy is complete. Data insights drive better and smarter decisions, helping marketers understand their customers in three important ways:
- User Behavior
- User Trends
- User Sentiment
Armed with this information, marketers can form impactful overarching social media strategies to increase awareness about their products or services. How do marketers begin to understand their data? That’s where Social Media Analytics comes into play!
Analytics + Key Performance Indicators (KPIs)
It can sometimes be difficult for marketers to decide what, specifically, they want to measure with their social media efforts. Key Performance Indicators (or “KPIs” for short) should reflect organizational social media objectives or overall business objectives. These are commonly measured in terms of engagement metrics—likes, dislikes, followers, fans, pins, re-tweets, and shares. Through social media analytics, these engagement metrics can be linked to brand awareness, customer engagement, lead generation, and brand loyalty.
By understanding these KPIs, marketers can determine the success of their campaigns and what improvements are needed to garner better customer attention. The identification of the right KPIs is crucial for an effective social media strategy.
Get In Your Customer's Head
Through social media analytics, marketers can understand what kind of content is driving customer engagement and how customers are reacting to it. Making the right impression at the right time with the right content is an essential outcome of a successful social media campaign, and with social media analytics, marketers can define what’s right and what’s wrong.
In addition to engagement, analytics can measure the content’s effectiveness in driving users to perform actions and converting them into long-term customers. Traditional marketing channels lack the ability to measure the exact Return on Investment (ROI). This inability often leads to huge advertising budgets with minimal returns. Compared to the traditional channels, social media analytics offers extensive coverage that helps marketers ensure better returns. When marketers know what is and isn’t working within the social landscape, they are in a better position to maneuver their efforts in the right direction. The optimization of these marketing efforts ultimately results in enhanced returns on initial social marketing investment.
Knowledge Is Power
Effective utilization of analytics gives marketers an edge over the competition; advanced knowledge about their customers’ interpretation of their brand, products, and services provided by data can help in making smarter content development and execution strategies to better connect with a desired audience.
With social media analytics, marketers can convert available data into a vehicle that drives business outcomes. With the right optimization, social media is the perfect medium to get into the psyche of customers and deliver what they want, when they want it, and where they want it.