Social Media Analytics
Most modern solo-entrepreneurs use social media in some way to promote their business. Social media analytics will help you know how well your efforts are actually doing.
You may not realize it, but there’s a way to use business intelligence in conjunction with your social media efforts.
And if used properly, you may find some amazing insights into your social media analytics that could lead to profits and improved efficiency.
Every time you use social media, your data is stored and tracked. Unfortunately, most of us don’t have full access to all of this data. And even if we did, most of us would not know how to use it properly.
And there’s also the differences between the various social media platforms. Some share more data than others.
For instance, YouTube (yes, that’s a social media platform) provides a lot of information and data regarding your video’s performance. You can see how many people watched your video to the end, what countries watched it, and how many times it was liked or shared.
But other platforms, such as Twitter, are pretty stingy with their social media analytics. In order to get any real insights, you will have to use third party tools. And some of these tools are not free.
Here are a few tips you should consider in order to get control over your social media analytics.
Use Google Analytics
We’ve already mentioned the disparity in data sharing among the various social media companies.
To overcome this obstacle, I suggest using Google Analytics as a ‘catch-all’ tool for all of your social media efforts.
For one thing, Google Analytics connects seamlessly with other Google properties such as YouTube and Google Plus.
Secondly, you can customize Google Analytics to track the traffic from your other social media platforms.
Finally, using Google Analytics gives a one-stop location to find and gather all our social media efforts.
There’s one caveat: all of this has to be set up in the beginning and then requires regular maintenance on your part. You will have to check in on your numbers on a regular basis (I suggest at least once a month) to make sure things are still running properly.
You will also have to get some familiarity with how Google Analytics can help you. You should know how to set up campaigns, create tags, and create goals.
Know Your Goals
Most people just post whatever they think is interesting or funny or amazing on their social media platforms. And that’s just fine.
But if you want to track how these posts are doing, you should have some goals or metrics that are important to your business. You might find out a post is being shared frequently, but if it’s not leading to some final goal, it’s practically worthless.
Let’s say you’re trying to promote a new product or service in your business. So, you post a bunch of stuff on social media hoping to build some awareness.
You might notice your posts are being shared and liked often. And you might even see that sales are going up for that new item.
But if you can’t track the data, you don’t know for certain that the increased social media exposure has led to more sales. Therefore, it’s important that you know, beforehand, what you’d like those posts to do.
You have to know for certain what action your followers should take. Whether that’s visiting a website, watching a video, or requesting a quote, you should not leave these things to chance.
What to Look For in Social Media Analytics?
The good thing about using Google Analytics is that it makes it puts all of your social media efforts in one spot. You can then download this data to a spreadsheet and analyze it for trends.
And that’s what you’re really looking for. You want to know what’s driving your follower’s actions. What do they react to most? What seems to turn them off? What leads to a positive result?
Perhaps your audience reacts more positively to pictures. Perhaps they prefer to read articles. Perhaps they’re more into videos.
In addition to discovering what media your audience reacts to more, you should also look for profitability. You need to know if the action your followers are taking actually results in increased sales.
You can only assume but so much. The data will lead you to a more accurate conclusion.
Your social media activities hold a treasure trove of valuable information. Using a little bit of analysis will help you find the gold nuggets of profit within the data.