These days, social media managers aren’t only accountable for community management and building brand awareness, but they are also expected to analyze the impact of their efforts on the overall marketing campaign.
As a result, data analysis for social media has become a part of their jobs. This includes helping businesses look for ways to fortify their digital marketing efforts and optimize social media strategies.
Google tells us that marketing leaders are 1.3 times more likely to have a well-documented data and analytics plan. If the best marketers are doing it, so should you. After all, you can only create a great strategy if you have the analytics and information to strengthen every decision.
Furthermore, as emerging social media sites continue to the world by storm, analytics play an essential role in helping marketers select the right channel for their needs. It is no longer possible to imagine marketing campaigns that don’t include social media sites and apps.
Interestingly, 73% of the marketers think that their social media marketing efforts have been very useful or somewhat practical, reiterating the power of these campaign measurement tools.
But the questions are, how can you find the right actionable data in this much information and what is social media analysis?
Defining Social Media Analysis?
Social media analytics is a procedure that aims to collect factual information from different digital platforms and draw insightful deductions.
To get the maximum benefit from your digital marketing campaigns, it is essential to analyze the information you gather throughout your social media efforts.
Furthermore, you can leverage the existing data to analyze your social media – from your earlier posts, interactions, and discussions with your audience, to the performance of all your social media campaigns.
Social media analysis allows you to establish and structure your data to delve deeper into your social media platforms and analyze the outcomes.
At the same time, it is also important to assess your competitors’ social media or online presence. This, in turn, enables you to set a benchmark report and gives you a general idea of what’s working in your industry and what isn’t.
All in all, analyzing your social media enables you to create and run effective digital marketing campaigns. And naturally, a message that resonates with the right addressees on the right social channel will show results.
Start by developing a social media listening plan for your social media analysis. Then, enter and track the main keywords across multiple social media networks.
Here are some of the keywords to create your projects with.
- Your company’s name. Track all the mentions that include your brand’s reputation regardless of your audience is using “@” to tag
- Your brand’s hashtags. This can help you observe the spread and reach of your message across social media platforms using a tool like Mentionlytics. It analyzes your social media reach by tracking hashtags and interactions, etc., to provide a detailed breakdown of your brand’s social media channels.
- The hashtag for your campaigns. Gauge the effectiveness and performance of your digital marketing campaigns during a given period.
- Brand-specific or related term(s). Gather the data related to all the discussions and interactions that revolve around the topics associated with your business or you are interested in. For instance, if you own a lipstick brand, you can track and monitor the keywords like “gloss,”; “makeup,” and “lipgloss.”
Listening and monitoring tools for social media don’t gather past information. This means the analysis of your social media project and activities initiate instantly. Therefore, it is imperative to structure and plan your activities prior to running a campaign on social media.
Measure the Right Metrics on Social Media
The metrics are an integral part of your social media analysis, and its selection is dramatically determined by the goals and objectives your brand aims to accomplish. Following and monitoring the shifts in brand awareness needs various sets of metrics that can effectively help you measure the campaign results and performance.
The importance of the selected metric is yet another aspect to focus on. A holistic social media analysis will provide you with quite actionable and practical social media insights. That being said, it is also essential to know the social media metrics that are reasonable to follow and necessary for your social media analysis.
Here are some of the crucial metrics to track for your social media analysis.
Your brand mentions indicate the number of times your company name, business-related keywords, hashtag, or other associated comments in a specific timeframe.
When analyzing your digital platforms, the volume of your mentions can be your starting metric. The end goal of any brand’s social media presence is to increase the recognition for the business – make your company and its offerings familiar to the potential and existing customers across digital platforms.
More discussions around your brand will result in higher mentions. A feature-rich social monitoring tool like Mentionlytics allows you to measure your brand’s mentions through competitor’s brands and industry-related keywords.
Reach and Impressions
You may need to consider both your non-social and social media reach when analyzing your social networks. The non-social and social impressions and reach of your posts indicate your online followers’ presence, most commonly used channels, the content form that interests them, and what they expect from your brand.
First, evaluate the impressions and reach of your social media campaigns. Gauging that allows you to analyze if your users on social media react to the content. This, in turn, enables you to decide if you need to enhance your efforts into building a more influential brand presence and simultaneously increase its visibility.
Suppose your company account on social media doesn’t generate marketing buzz. You might want to contemplate two options.
First, it is imperative to work on establishing a strong social media presence. Create exciting and appealing content, interact with your audience, participate in conversations, and run social media campaigns to get followers.
Furthermore, you can also partner with social media influencers and bloggers to get your message across to the right audience via appropriate channels.
The influencers that resonate with your brand and the audience is the trick to nail a successful collaborative effort. Ideally, this person reaches and influences the relevant audience and acts as the authority figure.
Sentiment around Conversations
To accurately analyze the number of mentions, you need additional data sets. Sentiment around comments and conversations is one of them.
Sentiment analysis of social media helps you gauge how your social media users perceive your brand. It may be negative or positive. If you catch an increase in negative brand mentions about your products and services, that’s a strong indicator of a social media crisis brewing behind the scenes.
This would be an excellent time to use Mentionlytics to gain data-based insights from listening tools and carry out sentiment analysis.
Measure Share of Voice
Measuring the share of voice is one of the most crucial ways to gauge your digital media platforms’ effectiveness.
Essentially, the share of voice indicates the percentage of social media users who initiated a specific social media conversation.
The greater your share of voice percentage, the more powerful are your social media followers. Your audience will consider your brand as a critical player in the industry, which can eventually help you with your lead generation efforts.
Importance of Social Media Analysis
Data-driven insights are quite valuable. The more actionable your insights are, the more decisive campaign and overall social media presence you will build. As a result, social media evaluation is a fundamental part when it comes to your digital marketing strategy,
Here are some of the advantages of analyzing your social media.
Measure the ROI for Social Media
Even though this is one of the biggest challenges for social media managers, it is essential to measure and quantify your social media efforts’ success.
Measuring the ROI for your social media ultimately depends on your social media marketing objectives. Based on this, you need to focus on the metrics that can best help you reach valuable deductions.
For example, suppose you want to identify sales from your social media avenues. In that case, you’ll need to go beyond brand awareness and gauge your marketing activities’ effectiveness and impact.
Assess your reach and impressions on social media, evaluate the engagement type and percentage, and conduct the sentiment analysis around your conversations. These actions help you assess if you were able to reach the desired audience and got favourable outcomes.
If your analysis outcomes aren’t reasonable, it’s imperative to consider implementing necessary modifications to your digital marketing approach and strategy.
Exhaustive analytics of your digital activities provide you with reliable data and actionable insights that can help us measure our social media marketing efforts’ effectiveness.
The gathered data indicates your different social media channels’ performance and give comprehensions into improving your online presence.
Know your Audience
In order to create a strong brand presence and visibility, you need to cater to the relevant audience via effective platforms. Additionally, the content should be compelling enough to help you engage, connect and interact with your followers.
Knowing your audience is an integral aspect of your content strategy formation. Once you recognize your ideal audience, developing content that interests them should be your next step. And social media analysis allows you to understand what topics your audience likes to interact with the most.
That way, you can come up with content, such as films, photos, gifs, etc., that pique audience’s interest.
The impact of a positive customer experience goes a long way. 71% of customers who have had a good experience and interaction with a brand on social media are likely to endorse the brand to family and friends.
Mentionlytics is an exclusive platform that enables you to listen to what your followers are saying about your brand and allows you to participate in their discussions and conversations instantly. It supports a seamless workflow, which makes sure that our audience doesn’t feel unheard.
Enhance your Digital Marketing Strategy
Analyzing your social media efforts unquestionably impacts your overall social media strategy too. This means you can continually improve on the tactics. The assessment of social media indicates the most effective digital channels and delivers a higher return on campaigns.
After all, there is no reason to make investments of your time, effort, and resources into media tracks that would not deliver results.
Another advantage of analyzing our social media is the ability to develop better, engaging, and appealing content – that resonates with the target audience and helps you drive conversions.
Digital marketing analysis figures help you comprehend your brand’s perception on social media and simultaneously refine your visibility and image.
Keep an Eye On Your Competitors
Staying ahead of your competition isn’t always easy. It is imperative to know about your competitor’s moves and what they are up to. Competitors’ analysis focuses on discrepancies between the approaches you and your competitors take on. The evaluation determines both the benefits and the drawbacks.
Leverage the competitor insights, highlight your strong points and smartly turn the rivals’ weaknesses into your fortes.
Analytics from social media helps you determine the activities that drive engagement and communications. Evaluate your posts, change your approach accordingly and outdo your competitors.
Furthermore, social media analysis allows you to determine social media platforms’ most productive for your followers and brand. As a result, you can save yourself from a lot of experimenting. It also lets you create a more detailed, thoughtful, and well-rounded digital marketing tactic.
Ready to Analyze your Social Media?
With social media, you need to cater to a broad spectrum of the audience’s preferences, needs, and emotions, so it is imperative to develop a well-rounded social media strategy.
Comprehending customer reactions provides you with a different standpoint on how your online audience perceives your brand and further enhances our efforts.
Social media analysis offers much information that you can collect and analyze. However, it is hard to collect some of the insights without leveraging social media monitoring tools. Social listening or monitoring tools can immensely help with the analysis of social media.
Your audience is the heart of your digital media marketing strategy. A robust platform like Mentionlytics can help you with insightful information on your marketing related activities with its AI-powered feature.
On top of that, the tool enables you to track your brand mentions and get a detailed report of your social media channels such as Instagram, Facebook, Pinterest, Twitter, blogs, as well as your company website.
Stay ahead of your rivals by leveraging the keywords related to them and devising a strategy accordingly.
Analyze your social media successfully that centres on your brand – take your social media marketing success to the next level with Mentionlytics.