Social media is a vital part of any business's marketing strategy. It allows you to reach customers in an extremely cost-efficient way, which makes it an important tool for businesses of every size.
However, it's also important for businesses to know how social media data can help them grow their brand and improve their bottom line. The information from your social media accounts can tell you what people like, dislike and respond best to, which will help you develop future content that's more likely to be successful.
While it can be tempting to think that all social media data is equal — after all, it's all just bits and bytes — this isn't true. Social media data varies greatly depending on what platform you use, as well as how you access it and how many people are following you on any given day.
What is social media analytics?
Social media analytics is the process of tracking, measuring, and analyzing all aspects of your social media presence on platforms such as Facebook and Twitter. Social analytics provides you with information about who is viewing your content, what they like or don't like, who they follow and interact with, etc. This data allows you to create effective campaigns that are targeted at the right audience at the right time.
It is a powerful tool that helps businesses to identify the most important marketing channels. It allows companies to track their marketing campaigns in real time and analyze the results.
The types of insights that can be generated through social media analytics include:
Audience demographics (age, gender)
Consumer intent (competition)
Competitive activity (who are they following)
Here’s the 5 ways your business can leverage social media data to your advantage:
1. Monitor the performance of your products
By monitoring and analyzing social media data for insights about customer behavior and interactions, you can track how your brand is performing on social media.
Social media analytics tools offer a way to gain valuable insights into your customers' online behavior. They allow you to see what content consumers click on and share, which keywords are most popular among your followers, and even how much time they spend on various platforms.
The information gained from social media analytics can help you make better marketing decisions, whether that’s deciding which posts to promote or deciding what products to sell.
2. Get valuable customer feedback
Social media is an important part of customer service. It helps you get to know your customers and their needs better. It also helps you understand how they feel about certain products or services.
Analytics can provide you with valuable insights into customer interactions, engagement, sentiment, and content sharing. This is a great way to understand what your customers are saying, and how they feel about your business. It's also an important tool when dealing with customer complaints.
For example, if you run an online store, social media analytics can help you identify the type of content that resonates with your audience. If you have a problem with a product or service, social media analytics can give you insight into how dissatisfied customers feel about it.
You can use this information to improve your products, services and marketing strategies.
3. Keep track of your competition
By identifying trends and patterns in your social media activity, analytics tools help you to compare engagement levels with competitors, analyze the impact of your marketing campaigns, and get a better picture of what's working and what isn't.
One of the most common uses for social analytics tools is helping you to understand how your brand compares with others in terms of overall performance. By monitoring your own performance against other brands or competitors, you can see which areas you're excelling at and which areas need improvement.
In order to gain this valuable data, you need to invest time into creating the best content possible, and then measuring it against your competitors. The key is knowing which metrics are most important for your business, and then using that information to inform your strategy.
4. Help you create the right content
While consistently putting out content is important for getting exposure for your brand, It’s also about keeping up with trends and staying relevant.
For the content marketer, analytics aids you in tracking your social media efforts and seeing how your audience responds to each post, video or image.
Analytics will help you:
Identify the most successful content, which may need a different structure and tone from other posts
Track which content performs best in different formats (e.g., video vs. text)
Monitor how your audience engages with your content over time
Spot trends in your niche that could affect the success of your content strategy
5. Find your audience
If you're a small business, social media is one of the best tools you have for marketing. It's free and easy to use, and it can be used to reach your customers in a way that might not be possible with other methods. It is also an effective way to drive traffic to your website as well as build brand awareness. For small- and medium-sized businesses, it’s a place to promote their products and services, while large companies use it to attract customers and increase brand awareness.
Social media analytics can help you find your target audience. Analytics tools will let you see how people respond to your content, who they are and where they come from, how they engage with your content and what they share with others. You can then try to target them with ads or other promotions on Facebook, Twitter or Instagram.
You'll also be able to see which types of people tend to engage with your brand more than others. This will give you an idea of what kind of content is most likely going to resonate with those people so that you can focus on producing more of it.
It’s a great way to reach out to people who are interested in your products or services, but it's also important to make sure that you're not wasting your time on those who aren't.
Ultimately, the reasons that social media data is important are twofold. The first is because it belongs to the public. This means that it is much more available and accessible than other business data. The second reason may seem plain common sense, but it's also imperative—your customers are on social media!