What is Social Media Analytics?

The impact social media has on businesses today is incredible and the benefits of social media marketing are seemingly endless. Social media marketing is a crucial strategy to ensure success in 2022’s marketing world, and social media analytics is a vital source of strategic marketing information. There is an almost overwhelming amount of new consumer data being posted daily on social media, meaning social listening tools have become helpful components in audience analysis, competitive research and product research. 

The purpose of social media analytics and analysis is the gathering and understanding of marketing and audience data that you can use to create informed business and marketing decisions. Analysing and truly understanding these insights is the only definitive way to optimise your marketing efforts to resonate with your target audience. 

What is social media analytics? 

Social analytics is the collection and analysis of key consumer data points that help you measure the performance of your social media efforts. These are the metrics that will help you accurately assess and develop your social media marketing strategy to ensure it is optimised on both macro and micro levels. 

Due to the fact there are many types of social media that all house different audiences, using social media analytics can help brands identify where their target audience is most active and likely to engage. 

Social media analytics software can help you find the most relevant social media trends to capitalise on, discover how to quantify your ROI with each campaign or social media post and show you how you are perceived compared to your competitors. Using the right software, you can have a clear understanding of how you are positioned on every social channel—a simple presentation of what’s working, and what you need to fix and how to do it. 

Why you need social media analytics?

Measure and improve ROI and marketing impact

The main benefit to analytics is that they give you immediate feedback on your performance on social media. Having a clear overview of performance KPIs is a necessity to control the success of your social media campaigns. If your strategy isn’t working as it should be, the data will point you in the right direction to improve your strategy before your performance dips. 

Make better strategic marketing decisions

The amount of data being posted to social media is increasing year on year. Social media is a valuable place to extract insights—something that is also getting easier as technology advances. How can social media analytics improve your decision making?

By using social listening tools, you can easily conduct competitive and audience analysis. Social listening is the process of analysing and reporting on the data posted on social channels and extracting helpful insights that are beneficial to your business. It allows marketers to understand how your brand is perceived, can help inform product decisions, and show the interests and values of your target demographics. 

With social media analytics, you can respond to relevant social media trends in a timely manner. If you’re using social media for gamers, you can jump in on any relevant memes or trends as soon as they happen, while they are still relevant. 

Social media analytics can also help you minimise business risk. You have clear data that can signpost your strategic path, so allowing data to guide your decisions can help you feel confident in achieving your KPIs. 

FAQs

What is the most common use of social media analytics?

Social media analytics is most frequently used to track and monitor online conversations relating to owned products or competitors—this gives brands an understanding of exactly what their target audiences want. It is an incredibly helpful tool when it comes to social media community management. 

Are social media analytics important?

Yes – social media analytics allows brands to understand what their audience cares about most and exactly what influences their purchasing decisions. Social media analytics allows marketing departments to develop personalised and relevant marketing experiences target audiences will enjoy and engage with.

What are the benefits of social media analytics?

Social media analytics helps brands identify meaningful trends in social data from relevant audiences, allowing them to make informed marketing decisions. Social analytics helps businesses understand the direct needs of their customers, improve the efficiency of customer service online, invest in more precise marketing methods, increase competitive intelligence and improve their social media ROI. 

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@ Socially Powerful

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