Social media is crucial for a business. But what’s more important is social media analytics. In fact, it’s essential that you implement social media analytics and monitoring in your marketing.
Here are six ways in which social media analytics and monitoring can help:
Audience identification and targeting
The unfortunate truth is that many brands don’t really know who their customers are. The cost of targeting the wrong customers is high, and the only way to prevent this is by creating the profile/persona of your “ideal” customer group and searching online.
Social media analytics is of great assistance here since it provides valuable insights about the various audience groups online, their preferred source of content, their awareness and engagement with your brand, and so on.
One thing brands can do to fine-tune their audience identification is track whether their social media and website visitors visit their physical stores or not. These days, you have state-of-the-art AI-integrated facial recognition software, which recognizes and maps actual customers with their social media profiles. Now, you can know who your real audience is and then fine-tune your promotional campaigns accordingly.
Social media analytics can also help you understand your competitor’s performance. These days, you are able to analyze the content and SEO created by your competitors to see how effective they’ve been. You may use this knowledge to fine-tune your social media marketing campaigns.
Social media channel selection
Analytics identifies whether you’re on the right social media platform for your campaign, and offers massive insights about the number of visits, rate of engagement on each platform, and other metrics that help you evaluate the effectiveness of each channel.
You can use this data to avoid unnecessary expenses and spend on those channels that yield results.
Data analytics has the ability to follow what topics are trending on social media at the moment. It can track how often a particular hashtag or keyword is used online, which group of customers uses it the most, and the type of content. Social media analytics can also tell brands what format audiences prefer – blogs, video, Gifs, and so on.
These insights will help you create super-effective, highly-targeted, and premium-quality content that your audience would enjoy.
Social media analytics can help companies identify which of their posts have performed tremendously well and which have failed dismally by examining the number of shares, likes, and comments. The time and geography from where this engagement is generated and the platform that received the highest traffic can also be determined.
Additionally, companies can track how successful their social media engagement campaigns have been and whether they have generated enough store visits and sales or not by leveraging the power of AI facial recognition systems in the store.
Social media campaign performance analysis
Finally, social media analytics plays a massive role in campaign performance measurement. By studying various metrics like content consumption, engagement, competitor performance, and more, you can find out how well your campaign performs compared to others.