Social Media Analytics for Businesses
social media analytics alberta

Social Media & Analytics

 The purpose of social media is to be social. However, we know that your business can’t pay bills with likes, shares and RTs. Learn how to connect business goals to social media. 

Wrapping your head around social media ROI can be perplexing and there’s no shortage of social media experts who will advise you to only focus on likes, shares, views, impressions, follows, retweets, favorites and comments as a measurement of success. Don’t get me wrong, these metrics are an excellent temperature check for your business on social -> do people engage with your content? how often? do they share it? do they hide it? But you should focus on connecting the dots between social media and your business. How can you leverage social in a way that positively impacts your business? If you’re not sure, I can help! 

Reach clients faster & easier!

Social Media allows you to reach your clients faster & easier. Why? Because most of them already use sites. The most challenging piece of the puzzle will be learning what sites they like to communicate on. How will you add value?

Watch your business grow!

When you carefully design a marketing plan with goals & targets in mind, you can watch things happen in real-time. With analytics, you can make adjustments that will positively impact your campaign – getting you the most ‘bang for your buck!”

Be flexible & responsive!

You can spend less on an entire month of digital marketing than you can on one print ad. The best part is that you’re in control of where things go. Don’t like the direction? You can pivot at any time!

Popular Metrics

These are the most popular social media metrics you’ll find (sometimes they go by varying names.) However, there are three other important metrics to consider: conversation rate, amplification rate, applause rate and economic value. [Avinash Kaushik]

  • Engagement Measures how people are participating in the conversation surrounding your brand.
  • Share of Voice Measures how the conversation surrounding your brand compares to conversations about your competitors.
  • Volume Measures the size of the conversation surrounding your brand or a specific brand campaign.
  • Reach Measures the spread of a social media conversation.
  • Influence Measures who is talking about your brand and what kind of impact they have. {I left this one last because marketers don’t seem to agree on it!}

 

Getting Started

Often times when I speak with businesses who wish to use use social media for their organizations, either they’ve never thought about tracking ROI or they don’t think they can. It takes a bit of elbow grease, but there are metrics you can use to track the success of your social media program. But before you jump into social/digital planning, you’ll need these things first:

  • Business plan (Know your company’s objectives -> increase revenue, reduce costs, improve customer satisfaction etc.)
  • Social Media Audit (Review your website, your social sites, review sites — see how you’re doing vs. competitors re: mentions, engagement etc. to give you a baseline to measure against.)
  • Benchmarks (Get an idea of what’s happening in your industry so you know how you are performing against them – are you lightyears ahead or behind?)
  • Basic Analytics Platform (e.g.: Google Analytics)
  • Basic Understanding of Native Analytics (e.g.: Twitter, Instagram, Facebook)