A Guide to Social Media Analytics and What Data Really Matters

Social Media Data

The social media universe offers powerful opportunities for connection and engagement with your audience. We all know how effective social media campaigns can be in terms of its impact on companies’ performance and growth, but how can we drive campaigns that transcend the digital noise to truly reach our customers?

The answer is by understanding how to craft strategy to drive results within our analytics that matter. So, what are those data points that really matter to your company? We will dive deeper here to dissect social media into its primary analytics that when utilized effectively can drive transformative impact for your business. 

Navigating the vastness and complexities of the social realm can be difficult and overwhelming. Between likes, follows, hearts, tweets, retweets and emojis, it can be very confusing to filter through extraneous data to uncover crucial information and insights. 

Do Followers and Likes Really Matter? 

At the surface, it seems like of course, these superficial levels of metrics matter. The bigger your following, the more your business will grow, right? Well, not necessarily because it’s now how big your following or community is that matters, it’s how engaged they are and how likely they are to convert into customers. After all, information shared on social media is at the beginning of the sales funnel, at the beginning of the discovery and ‘gathering information’ phase of your potential customer’s user journey. 

If you want more followers, that’s great you can buy them! (And then you can quote Arianna Grande from her song, “7 Rings,” when people compliment you about your amount of followers, and you can say “Gee thanks, just bought it.”

Receiving likes on your photo is a form of engagement, but not one that matters either. When a prospective customer makes the leap from “heart-ing”  to your post — to signing up for your newsletter, that is when they have actually reached a more vital stage of your sales funnel. 

What are the Data Points and Metrics of Engagement that Matter to Your Business? 

1. Comments 

Users can like and follow companies ad nauseam or even passively when scrolling through the paraphernalia of your feed, but that is not engagement that will matter to your business or ultimately, your bottom line. Because after all, only some of your following will actually actively engage with your channel.

Rather than followers and likes, a more impactful factor to your engagement are the comments that a post receives.When a user takes the time to interact with your post, it exemplifies that they are not only reading your content, but that they are developing a higher level interest in your company and offerings — one that can convert them into an eventually, paying customer. 

Therefore, your focus should not be on shelling out content to hike up your follower and likes count. No, it should be on strategically crafting posts that spark conversations with your community, enticing them to interact with and comment on your content. This is how you grow an active and engaged community in the comments section of your post that will arouse the interests of other potentially  interested users. 

2. Shares and Organic Mentions 

There is sort of a hierarchy of engagement that exists in the world of social media that can help you better understand how your content is performing to determine if your strategies are working to drive growth for your business. At the most superficial level, is a reaction on your post indicating that your content is resonating with people. The next level will be comments in which we discussed before that implies that you have incited them to start a conversation. At the apex then is the amount of shares your post received. When people share your social media posts, it means that they loved your content so much, they want to share it with others who they think will appreciate it as well, therefore directly helping you grow your audience and the potential number of eyes who will see your brand and content. 

This brings us to organic mentions. When people are not only sharing your posts, but are promoting you and your content on social media through mentions, that definitely means you are doing something right. And you don’t want to just find out who is mentioning you, you want to track this engagement and use it as an opportunity to continue the conversation. And boom, you will enjoy increased brand awareness, and of course potentially attract more followers and a larger community, but even more importantly an engaged community. 

3. Reach and Impressions 

Reach simply refers to the amount of people your post reached or how many eyes were potentially able to see your content. Views and impressions, then illuminates on how many times your posts were actually seen by people. Therefore, we can expect the number of impressions to typically be greater than reach.

Reach and impressions are studied on a basis of a time frame in which these results were observed. You can measure the total reach of your social posts over the duration of a specific time period, as well as individually for each of your posts. 

4. Click-Through Rate vs Conversion Rate

As a business, if you are going to spend money on sponsored posts on your social channels, you of course want to ensure that you are going to attain a return on your investment — which is determined by the amount of clicks your post will get in relation to how much you invested into it. And if the numbers are in your favor, that means that it was cost-effective for your business. But what are those numbers, exactly? The key is not to get hung up on click-through rates. Sure, the more followers you have, the more people will potentially see your content, and then then ultimately the more clicks you will receive in the post. However, the metrics that really matter to your business are the conversion rates, those who not only click on your post but then also go to your site to become a paying customer. 

Here at Firon Marketing, we live and breathe everything in the world of digital marketing, From blogs and articles, to email marketing, SEO, PPC and social media we have you covered. Reach out today to explore how we can help you leverage our social savvy and expertise to help your reach and exceed your marketing goals.

 

Victoria Hernandez
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