The Steps to Successful Social Media Analytics
1. Understand Your Business’s Goals
When you know the business’s goals, you can use social media analytics to increase revenue, get feedback on products, reduce customer service costs, and improve public opinion of a particular product. With some direction, it’s easier to know how the company needs to improve to meet the goals specified. Most companies use Google analytics as a metric to measure progress.
2. Establish Key Performance Indicators (KPIs)
Key performance indicators must be established after business goals are identified. Evaluating data is a part of this process. Some companies measure customer engagement by the number of followers on a Twitter account or the number of retweets. This is helpful for companies that depend on followers for sales conversions and reducing marketing costs by targeting loyal customers.
3. Use Software Tools to Analyze Data
If you need to analyze unstructured data in social media tools, it’s best to obtain software tools. These tools are robust enough to harvest and store data. Google analytics tools are some of the most effective tools for analyzing data. The basic tools are free and can be instrumental to improving any organization. Software tools take the manual computations out of the analysis process.
4. Increase Traffic with Social Media
Though social media is a relatively new, it is an important aspect of generating website traffic. This will create demand for data related to social media. When you post about topics that excite your viewers, you’re likely to generate more traffic. Social media is also a more economical way to increase traffic with social media.