Eighty-six percent of marketers believe that social media is important for their business. Yet only 3.4 percent of business leaders report that social media contributes very highly to their organization’s performance.
Though delving into social analytics can be exciting, it also can be overwhelming. Marketing teams at startups or small businesses, if unable to invest in expensive analytics platforms, can quickly burn out trying to keep up with the endless data, and therefore will have no time left to apply their findings. In the end, if the analytics aren’t being supported by real-time social campaign improvements, the investment is worthless.
If your business has a social media presence on Facebook, Twitter and Pinterest, you can access a plethora of data from their built-in analytics platforms at no cost. Focusing on three key insights can take you far:
1) Engagement
Facebook, Twitter and Pinterest all provide information on engagement with your followers. This includes the data on the different ways they’re interacting with your content — liking, sharing, commenting, retweeting and repinning. If followers like your content enough to react to it publicly, they are more likely to return, continue growing their relationship with you and (hopefully) open their wallets.
2) Audience demographics
Some platforms (like Twitter’s) provide details about their likes and hobbies as well. If your audience likes food, travel, dining out and cooking, does that fit your business’s customer profile? If the answer is yes, then your social channels are probably attracting the people you’re hoping will purchase from you.
3)Monitoring competitors
Compare your most successful competitor’s content against your own. If theirs has a higher engagement rate, how often are posts going up? Consider scaling back or adding more content based on how their posts are doing. You also can browse through their old posts to get a feel for what their audience is responding to, and how you can apply those tactics to your own strategy.
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