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5 Steps to Social Media Analytics

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In the past few years, businesses have rushed to use Social Media. Almost 94% of all businesses now use some form of social media to promote their brand and engage with customers. While companies sprint to master social media, the social media analysis is more of a struggle.

Businesses are continuously trying to understand and measure the Return of Investment. To be successful, companies need to define their social media goals, know their online audience and have to realize that social media is a marathon, not a sprint.

Published in: Marketing
  • Great tips! I would add that monitoring of your competitors and customers should be an integral part of the social media marketing strategy. For example, I use Snoopreport tool for Instagram (https://snoopreport.com) that tracks user actions as likes, comments and follows to research users and update the marketing campaigns
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5 Steps to Social Media Analytics

  1. 1. 5 Steps to Social Media Analytics
  2. 2. Why Social Analytics is Important?
  3. 3. In the past few years, businesses have rushed to use Social Media. Almost 94% of all businesses now use some form of social media to promote their brand and engage with customers. While companies sprint to master social media, the social media analysis is more of a struggle. Businesses are continuously trying to understand and measure the Return of Investment. To be successful, companies need to define their social media goals, know their online audience and have to realize that social media is a marathon, not a sprint.
  4. 4. Are businesses running to use social media? 94% of businesses use Social Media Social Media Usage 87% 84% B2B Brands B2C Brands 3+ Years of social media usage 55% B2B Brands 51% B2C Brands Top Social Media Networks used in order most to least B2C Brands B2B Brands
  5. 5. How businesses are using social media? 72% 69% 68% 67% 31% Plan to increase use of these social media channels in 2016 65% Top reason why B2B and B2C brands will be using Social Media 85% for business exposure and product awareness to increase traffic to e-commerce / websites for marketplace insights 69%
  6. 6. Steps for Social Analytics
  7. 7. Step 1: Define your Social Objective and KPI’s DEFINE SPECIFIC KPI’S FOR SOCIAL NETWORKS KPI OBJECTIVES SHOULD BE MEASURABLE METRICS SHOULD BE IN LINE WITH THE BUSINESS GOALS Example: KPI’s for Twitter • Number of Fans from one city • Total Conversations from the Fans • Top Performing Posts • Net Sentiment • Word Cloud with Themes • Actionable Insights
  8. 8. Step 2: Measure Results with Google Analytics CREATE FILTERS FOR SOCIAL CAMPAIGNS CREATE SOCIAL MEDIA LANDING PAGES TRACK SOCIAL MEDIA INTERACTIONS ON SITE ENSURE URL’S ARE TAGGED TO SHOW IN GOOGLE ANALYTICS QUICKLY IDENTIFY WHAT ACTIONS ARE WORKING FROM WHICH NETWORKS PROVIDE RELEVANT CONTENT TO MESSAGE MATCH YOUR SOCIAL MEDIA COMPANIES IF USERS ARE NOT INTERACTING WITH CONTENT ON YOUR SITE, THEN CHANGE IT. ENSURE ALL LINKS ARE TAGGED INCLUDING URL SHORTENING LINKS
  9. 9. Step 3: Use other Analytics tools as well PAID TOOLS FREE TOOLS RADIAN 6 SYSOMOS MELTWATER BUZZ ALTERIAN SM2 UBERVU PEER INDEX HOOTSUITE PRO LITHIUM SOCIAL MENTION WHO IS TALKING HOW SOCIABLE BACK TYPE TRENDIEST THINK UP TINKER.COM
  10. 10. Step 4: Key Social Media Metrics 1. Page Likes 2. Post Reach 3. Engagement 4. Organic Likes 5. Paid Likes 6. Impressions 1. Total Followers 2. Number of Clicks 3. Number of Re-Tweets 4. Conversations on Hashtags 5. Reach 6. Sentiment
  11. 11. Step 5: Check your Strategy 1.Be sure to measure and act on Results 2.Maintain active listening to identify possible improvements 3.Be sure to test to get even better results 4.Identify Metrics with the worst outcome
  12. 12. How to measure some key KPI’s
  13. 13. Brand Awareness and Reputation SOV = # of conversations mentioning your brand Total #of industry conversations % positive % negative % neutral Sentiment Marketing Program Effectiveness Social Reach = Total # of followers across all social platforms Engagement = # Likes + # Shares + # Retweets + # Blog comments # of published posts or pieces of content
  14. 14. Lead Generation Effectiveness Lead Generation Effectiveness = # of leads generated or influenced by social campaigns Total #of leads Depth of prospect profiles: Integration of social profiles with traditional CRM profiles Increased Sales; shorter sales cycles Social Sales Effectiveness = # of customers buying more due to social engagement # of total purchases Overall sales effectiveness: • Growth in average deal size • Shorter sales cycles • More deals per sales person due to deeper consumer insight
  15. 15. For more conversations www.twitter.com/nitinkarkara www.linkedin.com/in/nitinkarkara

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