How to Analyse Social Media Marketing Performance
A social media marketer of average social media marketing skills loves to present reports that show how many likes a page has received, the comments, shares the posts they’ve published has garnered as well as the number of impressions they have attained in a specified period. A social media guru on the other hand, understands that these numbers mean nothing if there are no conversion numbers to talk about, the real concern of every business leader.
Any entrepreneur will want to know how social media is impacting their growth in a manner that goes beyond beautiful pie charts and graphs that just tells him he has new likes and many shares. This is not to say that these metrics are unimportant, but there are other metrics a social media marketer must master how to analyse to be effective.
With the right understanding of how social media works, a digital marketing expert knows exactly what he needs to do to present reports that truly show how the business in performing on social media. The following are some of the practical ways you can analyse your social media marketing performance:
Create a social media audit spreadsheet
When performing a social media audit, there are many metrics you must analyse. Some have more weight than others. Therefore, you must decide which ones you want to put your focus on based on the goals you have set. The process of creating an audit sheet begins with creating a spreadsheet containing all the data you intend to track. This spreadsheet will be extremely useful over time; it will simplify the process of comparing current audits which those you’ve conducted in the past.
Instead of using offline applications, consider online ones like Office 365’s MS Excel or Google Spreadsheets. Include in the very first column a list of all the social networking sites you intend to audit. The next column should contain information about the number of followers your page has at the present, followed by a column that will show the % change in the number the number of followers. Do this for all the metrics you intend to measure and note the date of your audit. Make sure you conduct every audit on a fixed date every month, quarter and year.
Understanding and measuring click-through rates (CTRs) and impressions
An effective social media marketer knows how to measure social media ROI. Typically, the process will include:
- Measuring engagement
- Measuring sentiments
- Tracking influence
- Centralizing analytics in a single dashboard or platform
To be effective, you must know which metrics carry the most weight when analyzing your efforts in social media marketing. Don’t spend too much time trying to find the number of likes, comments, and shares you page has received. You can automate this process by using available tools that give you these insights in an organized, easy to understand manner.
Use most of your energy in analysing metrics like leads, clicks, conversions, and sales. You find this information by taking a closer look at your website’s traffic as well as the actions your visitors take when they arrive at the landing pages you have designed. To get even greater and more detailed analyses of the impressions and click-through rates from social media, use analytics tools like Facebook Pixel and Google Analytics.
Examine follower growth
The idea behind examining follower growth is to identify anomalies, if any, that may be causing stunted social media growth or a loss in the number of followers. And off course, the obvious: the bigger the number of followers, the higher the engagement you are likely going to see and the more traffic your website will receive from social media.
Tools like Growr that help automate the process of acquiring new and relevant people to follow on Instagram streamline the following and unfollowing part of social media management, allowing you to concentrate on analyzing the numbers and their impact on the growth of your business on these platforms.
Anomalies are not always a bad thing. You could, for instance, identify an anomaly in the growth of followers where a big number of people liked/followed your page on a given day. A closer look might show you that there is a piece of content you shared that resonated with many people and made them attracted to the idea of becoming one of your fans on social media.
Monitor engagement to find peaks and valleys in interactions
Even with the best social media plan, there is never a guarantee that the posts you publish will resonate with your audience in a way that increases engagement. There is always some level of trial and error to identify certain unique characteristics that drive your audience’s interactions with your brand. That is why you must keep monitoring the engagement numbers with an aim to identify valleys and peaks in the rate of interactions.
However big the number of people following your page is, if they are not actively engaging you on these platforms, they bring near zero impact on your business. Acquiring a big number of repins, retweets, shares, and comments tells you that people are interested in what your brand has to offer. You can identify the posts that are doing best, analyze them and find what unique attributes made people interact with them. With this information, you can replicate the techniques that gave you results, increasing the chances of attaining greater and consistent engagement on your social media channels.
Review clicks and traffic
Another important way to analyse social media marketing performance is by looking at the number of clicks and traffic that social media is contributing to your website vis-à-vis those you receive through other channels like search engines. By analyzing this, you can identify certain inconsistencies that might exist in your website experience.
If you find that you are receiving lots of clicks but the number of people arriving at your website is notably low, this might be an indicator that your website experience is poor and needs redesigning. Furthermore, it shows that many potential visitors are leaving your website even before it loads, perhaps because it takes too long to load. This data is easily viewable on Google Analytics.
View mentions and sentiments to assess overall brand reputation
Beyond analyzing the numbers you are getting on social media directly through your social media pages, you must take a closer look at the mentions you are receiving on social media and the general sentiments customers have on your brand as well as its products and services. A simple search of your company name will reveal conversations people are engaging in about your brand.
Some users will tag your company when talking about it to the people in their circles, others will use your brand or product as a hashtag and others will simply just mention your name. Analysing this information will help you understand what people think about your brand and what they wish you should do differently.
Today, there are a number of social listening tools you can use that make it easy to keep track of this metric. Using such tools, you can identify those mentions that are positive and compare them to those that are negative. You also get to see the emotions most people associate with your brand and its business proposition.
If you see a clear pattern of, say, anger and frustration, then you must seek to change people’s minds by transforming your operations, including making changes to your products and services. What kind of business will you be running if everything people have to say about your brand is negative? Understanding your brand’s reputation will help you improve its image in the months and years to come.