What Social Media Analytics Matter
Social media has become one of the biggest branding tools in business. It’s turned the historic and effective marketing tool of “word-of-mouth” into a much more complex strategy. A ‘like’, a mention, a follow or a share can now completely change how someone views a specific business or person. According to a report from Technology in Business, 82% of people say the posts their friends make on social media influence their purchases while 78% of consumers say posts made by companies influence their decisions. This is proof that having a strong social media presence can definitely set you apart from your competition, but it’s up to you to keep track of its impact.
Here are four social media analytics that everyone needs to watch:
1. Quality of Engagement
Having solid, quality engagement with your audience is one of the most important analytics to monitor. The best way to track quality of engagement is to identify patterns and trends that are occurring in your target market. Analyze what is driving online participation and use that to tailor your social media strategy. Study the patterns of the comments, likes, and shares your posts get and take that into consideration before publishing the next one. For example, photos in posts tend to be twice as effective than just text-based updates. See what small changes you can make that will help drive up the engagement of your audience by simply studying the numbers.
2. Customer Service Workflow
Quality of engagement doesn’t just stop at measuring what’s working with followers and what’s not; it also means monitoring what your followers are saying about you. Businesses need to monitor and address problems customers are expressing online in a timely and effective manner. Customers who have positive experiences can help increase business and social media activity, but just one negative review can ruin it all. When it comes to online customer service, a simple reply generally won’t fix the issue. You can’t talk face-to-face when addressing the problem, meaning it’s going to take some time and most likely an in-depth explanation. When these situations arise, putting the customer in the right service agents’ hands is extremely important. Using a social media dashboard to help maintain workflow is a great idea. This allows conversations to be properly assigned to staff members and gives you a way to track resolution times.
3. Conversion Rates
Once you’ve determined what exactly customers have to say, it’s time to look at which social media strategies are working and which aren’t. Whether you are monitoring product sales or lead generation, seeing which social media tools are effective can save you a ton of time and effort in the long run. You don’t want to be focusing all of your energy on an aspect of social media marketing that isn’t producing enough referral traffic to convert. This analytic will also help you track the progress of the site as a whole and during specific campaigns. You’ll be able to see if a strategy you’re using has a high or low number of bounce rates, the average time a visitor spends on the site, the number of visits and much more. By being able to see exactly what is helping and hurting your business, you’ll be able to steer your strategies in the right direction.
4. User Behaviors
Now that we’ve determined what’s bringing visitors in through social media, it’s time to find out more about these people. Are the majority of visitors already loyal customers or are you experiencing a surge of first-time consumers? The way you treat these two audiences might seem the same but that’s not always the case. Running promotions that benefit loyal customers or first-time customers can impact your fan base drastically. It’s also important to know exactly how visitors are finding you. Not only can this information help you promote future products but it can also help you expand your audience. For example, if you have a strong amount of visitors who are coming based on referrals from people who are already customers, offering a promotion tailored to referrals would work in your favor.
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