Learn more about your social media marketing and advertising efforts with social media analytics.
According to data from Statista, 92.1% of U.S. marketers in companies larger than 100 employees use social media marketing to achieve a wide range of goals. Marketers in the U.S. will spend $80.6 million on social media advertising in 2022.
This makes sense considering that 4.62 billion people worldwide use social media. Specifically, 26.3% use social media to find products to purchase, and 27.7% use it to find inspiration for things to do and buy.
In other words, if your company has a product or service to sell, your potential customers could be looking for a reason to buy from you and your competitors on social media.
To determine how social media affects business, you need social media analytics.
Social media analytics offers valuable data marketers can use to measure audience growth and engagement with your business. Social media analytics allows marketers to answer various questions, including:
Ultimately, social media analytics gives marketers the insights they need to choose the right social media networks to focus their efforts upon and know what type of social media tactics will generate the best results.
Most marketers want to know the return on investment (ROI) of their social media marketing. Does social media marketing positively impact their business’s bottom line?
For those that invest in advertising, platforms like Facebook and YouTube offer social media analytics that can show which ads and ad campaigns generate the most impressions, clicks to your website, leads, and sales.
These metrics allow marketers to invest their budget into the ad strategies that will generate the most revenue for their business.
Organic social media marketing, however, can be harder to analyze. Social networks typically offer metrics that allow you to see the following.
Metrics related to audience growth, demographics, and content engagement won’t specifically tell you what tactics led to your business’s most leads or sales. However, they can tell you whether your marketing messages are reaching the right people and impacting them.
If you have no audience, your audience doesn’t align with your ideal customer demographic, or your content doesn’t elicit any interactions, it can be safe to assume two things:
If your content has few impressions and engagements, it can be safe to assume that your target customers aren’t receiving your marketing messages and aren’t moving from those posts to the next stage in your sales funnel.
Most social networks offer social media analytics for marketers who want to gain better insights to improve their efforts on social media.
Here are some examples of analytics data that you can access from your social media accounts.
Facebook offers insights for Pages, Groups, and Ads.
Facebook Page Insights shares analytics about your Page’s audience growth, audience demographics, and post engagement. Detailed information and metrics for your Page include the following.
Facebook Group Insights (for groups with over 50 members) shares analytics about your group’s top contributors, when group members are active, and how many members have joined your group over a specific timeframe.
Meta Ads Manager shares detailed analytics about your ad campaigns. This data covers the performance of your ads, ad audiences, performance by platform (Facebook vs. Instagram), and projected vs. actual delivery of results. Metrics include the following (based on ad type and conversion tracking setup).
YouTube offers analytics for your Channel, videos, and ads.
Channel analytics shares detailed information and metrics about your audience and engagement. This data includes the following:
Video analytics dives into the specifics of each of the videos you upload.
Video ad analytics shares details about ad performance within Google Ads Manager alongside your Google Ads.
In addition, you will find Brand Lift metrics and Creative Analytics.
Instagram users with a business or creator account can view insights about their audience and content within the Instagram app. Detailed information and metrics for your account include the following:
Detailed post insights are offered based on content type.
Instagram ad analytics can be found within the Meta Ads Manager, as mentioned above in the Facebook section.
TikTok offers analytics for your account, content, and ads.
Access analytics for your account and content under creator tools. Detailed information and metrics for your account include the following:
Detailed content insights include total play time, average watch time, number of users who watched the full video, likes, comments, shares, saves, retention rate, traffic sources, and new followers.
Detailed LIVE analytics include total LIVE views, total LIVE time, new viewers, unique viewers, new followers, and diamonds earned.
TikTok ad analytics also offers detailed information about ad performance, including cost per click (CPC), CPM, impressions, clicks, click-through rate (CTR), conversions, cost per action (CPA), conversion rate (CVR), video views, and cost per conversion.
If you use the following social networks, learn more about how you can access your account’s social media analytics.
Many social media management tools offer analytics about your accounts and content.
Additional social media analytics tools also bring together analytics data from your accounts and content across multiple platforms and your competitor’s accounts and content.
If you are looking for deeper insights into your social media activity and your competitors, here are a few options to check out.
Between the insights provided by social platforms and third-party social media tools, you should be able to find the data needed to make better marketing and advertising decisions. Once you review the available data, you should be able to determine what additional data sources you need to access and the tool that can provide it.
Featured Image: antstang/Shutterstock
Kristi Hines is a Content Writer for Search Engine Journal. Follow her on LinkedIn for digital marketing updates and on …
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