Tracking Your Social Media Analytics for Your Business Growth is Essential
Social media is becoming more powerful with each passing day. There are no two ways about it. To put it in perspective, there are as many as 3 billion social media users today. That is almost 40% of the entire world population.
While social media plays an important role for every user individually, as they get to connect to their friends and family and get their news from the various social media platforms, it has become especially important for the businesses. In fact, the majority of retail brands use at least 2 social media channels today.
If you want to grow your business and get an edge over your competition, then it’s really important for you to not only improve your social media presence but also track your social media analytics. The following are some of the reasons why:
To Find What’s Working and What Not
When you are no social media, you are not competing with a few businesses, you are competing with hundreds of them, each trying its best to grow their market share.
Since time is of the essence, you must learn which of your social media activities are getting good results and which ones not so much, and you must learn this fast. This is best done with the help of a top-notch and enterprise-level social media analytics tool which can give you the snapshot of your social media campaigns but with detail insights so that you can select the best course of action.
Do you know that 71% of your customers who have a positive service experience via social media are likely to recommend your brand to others? What’s more- 33% of your customers rather prefer contacting you on social media than a phone.
With analytics, you can work on your brand engagement on social media channels and make your business more accessible to your customers. You can also learn about the content they like and try to capitalize on that.
Finding Your Audience
Social media is a massive ocean of users that come from various countries, ages, races, financial backgrounds, etc. However, any good marketer worth their salt can tell you that you can’t market your product/service to the entire market.
Instead, you need to find your audience, i.e. a particular age group, sex (if the product/service is gender-specific), select countries, etc. This is the segment of the social media users that will care for your product/service- this is the group you need to shape your marketing strategy around. Once again, you can use social media analytics to succeed in this endeavor much faster and with ease. This is because, a good social media analytics tool can tell how what kind of users are responding to your Facebook Posts, Twitter Tweets, Instagram posts, and help you avoid some of the biggest Facebook marketing mistakes, etc. too.
Social media is also a great platform to learn how your customers feel about your brand. So, with an analytics tool, you can learn whether their overall sentiment is “positive”, “happy”, “grateful”, “proud” or “negative”, “angry”, etc. These tools are smarter than you think and can be of great help. So,once you have the information, you can easily work on your brand image and make improvements as required.
In conclusion, there is no reason for you to not try and benefit from social media analytics. It’s one of the cheapest ways to promote your business online and not to mention has a track record of high ROI too!