Why Tracking Your Social Media Analytics is Essential for Business Growth

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.

tracking your social media analytics

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.

Brand Engagement

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.

brand engagement

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.

Sentiment Analysis

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!

Lisa loves helping others to thrive online through Content Marketing with Social Media, Blogging and SEO. What good is knowledge if you cannot share it with others? She has 20+ years experience in marketing/advertising with 6 years experience in content marketing, social media, blogging and SEO. Check out her latest eBook "Learn to Tweet and Thrive on Twitter" now on Amazon.

24 comments On Why Tracking Your Social Media Analytics is Essential for Business Growth

  • Hi Lisa,

    Social Media is definitely the big thing, These days Business owners are more concerned to create a branding on the social Media instead going for the SEO aspects.

    keeping an eye on Social media statistics will let know about the audience and what they are intersted in. And most of the social media too shows the impressions and engagement of the posts shared in it.

    But , definitely advanced statistics can be seen using some great social Media Management tools.

    That was a great read Lisa, Thanks!

    Navin Rao

    • Hi Navin, welcome to Inspire to Thrive. Oh yes, I think SEO and social media go hand in hand today as each can drive the other for more reach and traffic. Being able to know the statistics so you can grow your reach and traffic more are very important today for small businesses and bloggers alike. Thanks for coming by and have a wonderful day.
      I’d love to know which tools you use to track yours?

  • Hello Lisa,

    Social Media plays a major role in online promotion activities. Tracking social analytics gives us detailed information on how we perform well in social media sites and makes vital decision on social media adverting. Today Social media is big place for promotion based on Age, gender, demographics etc. We get more targeted visitors from Social media sites. Thanks for sharing these great insights with us.

    Have a great day 🙂
    Vishwajeet

    • Hi Vishwajeet, yes, you are right about that. It is so important to know those targets so we can better our campaigns going forward. I really appreciate your coming by. Have a great weekend!

  • Hi Lisa,
    Great article you have here. Marketers need to know the importance of tracking their social media analytics. its important because social media, being
    more like a business intelligence, is providing essential insights on how marketers can understand their customers, and learn from their behavior. The data you collected will help you build a strong brand reputation, as well as a strong communication channel with your prospects. the benefits are endless.

    However, concerning your question to Ravi about whether LinkedIn has its own analytics yet? Yes! Right now LinkedIn only offers insights for Company Pages. The company page analytics are split into sections of three. They are: Updates, Followers, and Visitors

    so, with a company page, you can get your analytics.

    Thank you for such an insightful article.

    • Hi Moss, thank you 🙂 Oh yes, it is so important today as many marketers spend much time putting together social media campaigns. They must analysis to see what works and what does NOT work as well.
      I love reading the insights from both Facebook and Twitter.
      Thanks for the answer on the LinkedIn! That’s one place I don’t have a company page – yet. Glad to hear they are providing that.
      Thanks for coming by and for the answer Moss. Have a wonderful Friday and a great weekend ahead.

  • Awesome tips, Lisa! Thank you for sharing them and quite informative post. In today’s digital age, utilizing the influence of the social media world is important if you want to grow your business and develop your brand. Good read!

    • Hi Genard, welcome to Inspire to Thrive. You are welcome. Are you tracking your social media accounts today? It’s amazing how far these tools have become. Thanks for coming by and have a great weekend ahead.

  • Hello Lisa

    This is what i was looking for thanks for sharing amazing post with great & helpful information keep up great work

  • Hey Lisa,

    No doubt that you should always track the social media engagement.

    Twitter is there to show you the number of impressions.

    For LinkedIn, I do that by posting different kinds of content.

    People respond quickly to the text content.

    Thanks for bringing this up.

    ~Ravi

  • Hi
    it is a great article, keep up the good work. and also tell me the best plugin to track my website traffic, because I am a new blogger and I don’t know much about this.

    • Hi Dushyant, welcome to Inspire to Thrive. That plugin would be your Google analytics one. There is a plugin for it and it’s great to track your traffic, referral traffic and much more. It is called “Google Analytics Dashboard for WP (GADWP)”. Thanks for coming by! Have a wonderful day.

  • Hello
    Lisa,
    Now-a-days social media become a most powerful platform to connect with people around the world. Almost, one third of the world’s population use social media in their daily life to connect with family and friends.

    When we comes to online bussiness nothing is better than social media. It is best for promote our brands and of course business growth.

    Tips you have share here is really amazing and it helps me lot to understand the benefit of social media for our business.

    Thanks for sharing with us.

    Best wishes,
    Praveen verma

    • Hi Praveen, social media has really become that today. It amazes me that some businesses especially small ones do NOT use social media yet. I don’t know what they are waiting for, maybe more time 🙂
      Thanks for coming by and have a great day Praveen!

  • Hello Lisa,

    Good shout over here 🙂

    Indeed social media is changing day by day, some of the social media platforms discover updates every single day.

    Apart from connecting from our friends and relatives social media is also very important for our online business. If we
    want to establish our online presence or connect with more people for branding out our products and business.

    Finding our audiences, the correct audience is very much possible through social media platforms. We can drive into ocean full
    of people and after being search we can have our person to whom we can promote share or sell our products and when we deliver
    best of ours to them they are more likely to recommend it to their friends, it means next a horde of traffic and buyers
    will be rushing on our landing space.

    Thanks for the share.

    Shantanu.

    • Hi Shantanu, yes, it certainly is today with so many on social media. We need to know who are audience is and how to better serve them on social media or they will go elsewhere in a heartbeat.
      You are welcome and I appreciate your coming by on this one. Have a wonderful day ahead there Shantanu.

  • Hi Lisa,

    I’m more inclined to your point on ‘Finding your audience’. Measuring social media analytics is of utmost importance, most especially if you are in ecommerce trade business. majority of active social media users are youths and almost 65% are females.
    Thanks for sharing, mostly helpful.

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