If you want to tap into that one factor that could boost your entire social media marketing campaigns, then social media metrics is what you need to go for. All those company updates you had shared, the collaborations and the various social media campaigns that you had implemented over the years will be valuable to shape your current social media marketing campaign only if they are rightly put to use.
But only a small percentage of marketers are tracking their social media performance and making proper use of it. In a recent report by Our Social Times surveying the B2B marketers about their social media strategies, 58% of respondents rated their ability to measure their social media activity between ‘very poor’ and ‘average’, around 34% rated it as ‘strong’ and only just about 7% were able to rate it as ‘very strong’.
Why should Social Media Performance Metrics be tracked?
The above-mentioned survey typically shows the negligence of marketers in actually measuring the results of their social media marketing efforts. When the social media campaigns are tracked and analyzed based on the numbers, it could prove to be more useful to fine tune the forthcoming campaigns to perform much better.
After all, shouldn’t you know how well your social media marketing strategies performed after all the work you put in for it?
Here are a few important reasons why social media performed should be monitored and put to use.
Understand Your Audience Better
Irrespective of your opinion about knowing it all when it comes to your audience, there will always be a few factors left, may be due to the changing preferences of people and the dynamics of your sector.
When you are monitoring your social media performance, like how well the last post fared, the status of the current campaign, the response to the previous campaign and so on, you can pick up a lot from the metrics that indicate the behaviour of your target customers and provides an extra insight into it.
Nowadays, no one marketing campaign is sufficient to cover all the target customers. With the customer segments multiplying and dividing into sub-categories, the more information you have, the better your marketing will be.
You can also know what your audience likes the better. A simple analysis over the posts that have performed better than the others will let you know what kind of content that your audience wants to see. It may be videos, user-generated content, GIFs, etc; but finding out what they like is the key to every marketing campaign.
With this data in hand, you can get to add a few more details to your customer persona and use it to segment your future marketing campaigns.
Understand Your Competitors Better
When we talk about tracking social media performance, it isn’t necessary to track only your own metrics.
When you are in the middle of a competitive sector trying to battle over the same set of target customers, understanding what kind of strategies your competitor employs, and even better, if it works or not, will go a long way in creating your own strategies.
Analyzing your competitor’s marketing campaign and its performance with your audience can provide insights about how well it was received and this data can be used in your future campaigns too. It is typically like testing a campaign and its response before implementing it in full swing, only in this case, it is your competitor who is taking all the efforts!
There is a lot of software available in the market which will help you to get the data from your competitor’s social media posts and when used in the right approach, it can prove to be very useful.
Find Out Which Social Network(s) is Right for Your Business
Not all social media networks work for all businesses and concentrating on a lot of social media networks at the same time isn’t going to bring in the results as expected. Depending on your business and your audience, only certain social media networks will work for you. Of course, a combination of few social media networks will work, but posting the same content through all the social media handles aren’t recommended.
Just because 96% of businesses are using Facebook doesn’t automatically mean that it will work for your business too. Maybe, Pinterest, with a few reaches, could actually be the one to drive more traffic to your business than the vast reach of Facebook or Instagram.
It is important to match the performance of your social media posts along with the final deciding metric, like the number of sales or the increase in the revenue, and decide which social media works the best for your business.
When you are starting out, you can test across some selected social media networks, monitor their performance and compare it all around to pick the top few that your company needs to concentrate foremost. Depending on the result of your analysis across all social media, you can prioritize the social media handles to spend the most time.
Once you have picked your social media, do not just keep on following it from then on. Social media networks change and so does the audience in it. So, perform a test at certain intervals to ascertain if you are holding on to the right conclusion.
Craft Targeted, Highly-Refined, Foolproof Strategies
There is no one proven strategy that works at all times. A foolproof strategy takes time to devise and is majorly backed by loads of user data and hours and hours of analysis put into it.
You may make mistakes in your initial strategies and it is normal for all to do so but what sets apart a good marketer is how well they can identify and learn from the mistakes and ensure that it isn’t repeated in the future marketing strategies.
To know where you have gone wrong in the current social media strategy, the metrics are your guiding force. Through the metrics, you can decipher the responses of your audience, take feedback and better your next marketing campaign.
Through such constant practice of tracking the social media performance, you can craft strong, foolproof strategies that will bring the results that you want.
On a Final Note
As you can see, there are a lot of benefits of using tracking your social media performance and by rightly leveraging it, you can shoot your brand’s presence in social media faster and reach a wide segment of your target audience sooner than expected.