Demystifying Social Media Analytics
Social media has its own language. Be sure to become fluent.
A great benefit of social media marketing is the analytics that are available for little to no cost. However, sometimes when evaluating a campaign, it can feel as if you are drowning in data and that more questions are being raised than answers. From understanding what analytics to prioritize to knowing what each metric means, reviewing your work on social media can be far from straightforward. The following tips can serve as a helpful primer on setting your campaign’s goals and properly interpreting the results.
Determine Your Goals
Before you can start evaluating your social media campaigns, you must determine what your goal was in the first place. Was it to drive more people to your website? Develop a broader reach on social media? Cultivate leads for your business? Generate sales? Once you clarify your goal, you’re ready to zero in on which metrics to scrutinize further.
A helpful way to think about which social media metrics to examine is to decide if your campaign is intended to increase awareness or drive action and engagement. Let’s say you are trying to increase awareness of your agency. Some major metrics to look at could include:
- Net follower gains
- Page reach
Impressions capture how many people saw a post on a given platform, while net follower gains describe the number of people who followed your page and are now receiving updates on your activities.
Both are simple to track. You can see impression figures for an individual post with a simple click. If you are looking to track them over time, you can access the built-in analytics on platforms like Facebook and LinkedIn. Follower numbers are also prominently displayed on a user’s profile on each site – allowing for easy review.
Page reach is used on Facebook and describes the total number of unique people who saw your page’s content within a specified time frame. LinkedIn has a similar metric called “page views,” which is the total number of page views in a designated period. To view this metric and collect necessary data, navigate to the analytics platforms within Facebook or LinkedIn. Twitter does not contain a comparable metric, but you can view impression data for your tweets (both individual and cumulative) by visiting https://analytics.twitter.com/ and logging into your account.
These metrics are important for agents to be mindful of, as social media is about building brand identity and fostering community just as much as it is about driving people to your website or inspiring sales. Agents should evaluate how their output on social is resonating, making tweaks to language, messaging and hashtags based on the results they are seeing.
If emotional-based messages are not working, you could try posting about the tangible benefits you can provide to your customers. And if the hashtags you’re incorporating don’t seem to increase the number of people viewing your content, you can always apply a hashtag research tool to improve how your posts are connecting with your audience.
Action or Engagement Metrics
What are the analytics you should focus on if your goal is to drive action with your content? Some pertinent metrics would include:
- Likes and favorites
- Post shares and retweets
- Conversions and click-through rate (CTR)
Not all metrics are created equally. While it can be satisfying to receive likes on a carefully crafted post, they may not do much for your brand or make an impact toward your campaign goal.
Typically, it is more valuable to receive engagement based around a business priority. For example, although sharing or retweeting a post is technically an engagement, it provides the type of organic awareness of an agent’s operations that cannot be matched by your own posting.
Conversions, which means that a user has navigated to your site and performed a specific action, and CTR, which measures how many people have clicked on a link embedded in your post, are usually the most valuable form of engagement. The main social media platforms provide an easy mechanism for tracking CTR. LinkedIn, for instance, offers several metrics (including CTR) to review at the bottom of each post, while Facebook offers a similar array of helpful insights in the same location.
Tracking conversions is a bit more complicated and can require some familiarity with additional technologies like Google Analytics. However, numerous online resources can walk you through how to gauge whether your social media is inspiring the actions you want to see on your website, such as people signing up for consultations or joining your agency’s email list.
Take Advantage of Social’s Power
Social media has changed how people connect, obtain information and conduct business. While these technologies can take some time to master, they can be incredibly advantageous for an agent’s operations. The trick is to have a strong idea of what it is you are trying to accomplish via social media and a firm understanding of how to measure your results. By applying these principles, you will start seeing a positive impact and ultimately make progress toward your business goals.