November 7, 2018
Tracking analytics has been shown to have a positive effect on a business’s operations. Several benefits stem from closely monitoring these metrics according to University of Kentucky including improved marketing strategies, increased customer engagement, improved customer service, better reputation management and brand awareness.
Along these lines, it’s important for businesses to consider the value of their social campaigns and invest time tracking these metrics and listening to the online conversations. Whether it’s your team or your agency, measuring your social media efforts can have a very positive effect on the ROI and help make any campaign successful.
4 Reasons to Track Social Media Analytics
1. Measure Social Media ROI
Today, many companies do not have the tools or processes to measure the impact of social
media. With social media spend making up 20% of all marketing budgets by 2020, the time to
start implementing metric tracking and ROI analysis in your business is now.
2. Refine Social Media Strategy
Oftentimes, there can be challenges when starting a brand new social media campaign like finding out which content your audience gravitates towards. By tracking analytics for your posts, you’ll be able to measure the engagement of each post and use these social media analytics to show you areas in which to improve.
3. Gain A Better Understanding Of Your Audience
Tracking analytics can improve your social media efforts and help achieve better results on
social campaigns. You are also able to better understand your audience’s demographics,
psychographics, and geographical behaviors.
4. Helps You Understand Your Competitors
Performing basic keyword searches on your competition can be a great way to gauge how
they’re communicating with customers. By knowing what is working well for competitors,
you can implement changes and achieve a higher ROI on your social media efforts. The ways
to improve your strategy are vast and can be a great asset if you use it correctly.
Wrapping Things Up
Using social media analytics can have a positive effect on any business’s strategy. With the
right information, techniques, and practice, you will increase your leads, grow your profits,
and create positive change in your business.