7 Ways To Smartly Use Social Media Analytics to Grow Online
With the rise of social media across all verticals, social media management has become the primary driver for brand growth across all segments of the funnel – from brand awareness to sales to advocacy. As such, social media analytics platforms are very much in vogue as they offer deep insights into how businesses can achieve their respective goals. However, generating such analytical data and interpreting it is just half the battle won, the true challenge lies in recalibrating strategies.
To help you on this quest, here are seven tips on extracting greater value from social media data analytics platforms:
Monitor and Manage Campaigns
One of the most obvious uses of social media analytics is to understand the efficacy of any social media marketing campaign. Modern-day social media analytics tools can offer real-time status of various metrics employed – from Impressions to Click-Through Rates to Return on Investment. As such, regardless of the campaign objectives, social media marketing dashboards can grant visibility to a buffet of KPIs.
Increase Market Presence
Social media analytics can supercharge SMBs and startups into power brands that are household names. This increase in reach and heightened brand awareness is possible through targeted outreach and marketing tools that offer greater visibility to the business. Organizations can leverage hashtag analytics tools or run paid promotions to capitalize on marketing opportunities and connect with their audiences on common grounds.
Understand Target Audience
Consumer Insight Analysis Tools act as a window into your customers’ lives that offer a 360-degree view of the customer. You can use it to understand the target demographics and their preferences to understand the real-life impact of your marketing campaigns. Using this wealth of data, you can develop an ideal customer profile and use it to run targeted campaigns that are more likely to succeed.
“Learn from your competition – the good and the bad,” is the golden rule of marketing. And social media management is no exception to this rule. Competitive benchmarking analysis helps businesses gauge the strengths and weaknesses of their competition so that they can augment their existing capabilities and supplement market shortfalls. For new businesses, data points derived through competition analysis can serve as a roadmap for developing successful strategies.
Map Influencers and Micro-Influencers
Most advanced social media analytics dashboards empower users by analyzing and mapping influencers that are suited for your brand. Knowing the right influencers for the job can help you leverage their standing more strategically to build meaningful connections. Whether you connect with major influencers or micro-influencers, they will serve as echo chambers to drive growth through visibility, credibility, and affiliation.
Capture Customer Sentiment
Social media platforms can also function as social listening platforms if you have the right tools. You can leverage various social listening tools to listen to the online chatter happening around your brand. Such data-driven insights can help you master the art of online reputation management and take charge of branding and build lasting relationships with your customers. Have a disgruntled customer? Listen to their concerns and offer a feasible solution! Do you have a customer who is constantly raving about your products? Reward them for this praise!
Identify Your Best Content
While creating high-value content is the key to gaining traction and piquing engagement, it is not always possible to deliver on this expectation every single time. And when your content reserves have dried up, you can reuse and repurpose high-performing content. Analyze the responses to the existing content and repurpose or reshare it to keep users engaged.
An effective social media management tool like Locobuzz could be the secret weapon that your business needs to ace social media marketing. It churns out volumes of high-quality data, be it engagement, total reach, page clicks, and more, which can be monitored through a powerful multi-channel social media analytics dashboard.
So, regardless of your organizational objectives, social media analytics could be the means to get there – all you need to do is monitor!