What good is a marketing campaign without social media data analysis?
It’s not the 1950’s anymore, and marketing has gone beyond pen, paper, and television. Big data is already valued at $42 billion worldwide and expected to climb beyond $100 billion by 2027.
A portion of this growth can be directly attributed to the marketing industry’s adoption of Big Data. 84% of social media marketers surveyed use data analytics to help set goals and objectives. And 69% believe that most of their marketing decisions will be primarily driven by data in 2018 and beyond.
Believe it or not, you don’t have to the scientist to understand analytics. Don’t miss these 10 tips for leveraging social media data analysis in your marketing.
1. What Do Those Impressions Really Mean?
Social media engagement is more than just comments, shares, and likes. impressions play a significant, but more hidden role, in engagement analysis. Unlike a comment, impressions are vague. One tweet, for example, is likely to receive more impressions than anything else, so it’s important to understand what’s behind them.
A single user viewing a piece of content the first time around counts as one ‘reach.’ But each set of eyeballs on a post counts towards impressions — even if the same person saw it three times, that’s three impressions. Analytics separates the two, so you can get a more accurate picture of how your audience is experiencing the content.
2. What Are People Saying About You on Social Media?
Now, it’s time to eavesdrop on your audience. Social listening yields valuable insights into what your target audience is saying across all social media platforms.
Social listening involves tracking the following activity:
- Twitter lists
- Trending hashtags
- Reaction videos
- Live streaming
- Twitter mentions
- Social media feuds
Yes, you read that right – feuds. In fact, social media feuds are one of the fastest rising strategies in user-generated content marketing. So grab some popcorn and a front row seat.
3. How to Consolidate Your Social Listening
Social listening itself isn’t difficult, but it produces a lot of data. So what do you do when you have multiple social media accounts?
This is where your social media management tools come in. Most, if not all of them, provide a way to view multiple accounts in real time through one dashboard. You can also respond to multiple posts at once and download data reports for your social media activity.
4. How to Analyze Social Media Data
Social media data is useless if you don’t know what to do with it. That’s why it’s critical to define goals for your marketing strategy. This way, you can visually and logically understand your performance metrics from start to finish.
One of the most reliable goal-setting models is the SMART goal method. This will help you define goals that are specific, measurable, attainable, results-based, and time-sensitive.
Most importantly, it provides a clear model to measure your data against.
5. Analyze Your Follower Count
Are people clicking on your content but not subscribing? Are they watching your videos but not commenting? Your follower count is a critical piece of your social media data analysis.
Like social listening, you can track your follower counts with analytics. Taking YouTube as an example, follower analysis can help you understand your subscriber-to-view ratios and make changes where needed. You may need to include a visual call-to-action at the end of your videos to boost your subscriber count, or, produce shorter videos that are easier to digest.
6. Follow Behavioral Trends
When does your audience engage the most with your content? When’s their favourite time to share your posts? When are they least likely to engage with your content? These are just a few of many questions to consider in your social media analysis.
An easy introduction to social media behaviour analysis is Twitter Analytics. Twitter analytics uses data visualizations to reveal peak points in activity, irregularities, your most popular tweets, and weekly engagement patterns.
When you break down the data, you get a clearer picture of what to tweet and when to tweet in.
7. The Power of Polling
Polling isn’t just for politics. Social media polls are a fantastic way to gather valuable data from your audience.
There are several tools you can use to generate and embed polls on your social media pages. Twitter and Facebook also have option for tweeting polls directly to your follows. You can ask your audience simple yes or no questions to gauge excitement for an upcoming movie, event, or product.
Another smart trick is to create poll questions based on your social listening data.
8. Gather Feedback for Your Social Media Data Analysis
Feedback doesn’t begin and end with polling. There are several ways to gather valuable social media data from user feedback.
For example, you can post a survey that rewards users in exchange for their opinion. Other feedback methods include free trials, email surveys, social media contests, Twitter chats, and Facebook Messenger.
9. Does Your Social Media Translate into Dollars?
Your social media posts may look fantastic, but are they converting into real sales? Shares, comments, and likes are just a fraction part of the full conversion picture. If you’re worried about your lack of product sales, turn to the data. as
Your social media data analysis will reveal your click-to-convert ratio. Increasing your conversions could be as simple as speeding up your website or including more enticing calls-to-action.
Remember, when in doubt, look at the data.
10. Know How to Organize Your Social Media Data
Last but not least is organization. You don’t want any of that valuable data falling through the cracks. That’s why it’s critical to run CSV reports from your social media management tools. Simply upload your CSV data into Excel, or Google Sheets, to create easy-to-navigate spreadsheets.
Each social media channel should have their own spreadsheet complete with data columns. If you don’t keep accurate data reports, you have nothing to measure against the following fiscal year.
Now it’s your turn to analyze the data.
Remember, social media data analysis is all about the details, so leave no stone unturned. Get your social media management tools up and running as soon as possible and keep accurate data records throughout the process.
To assist your analysis every step of the way, check back often for tips on managing your social media marketing.