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Social Media Analytics: Data Obtained

Posted by SMstudy® on April 14, 2017 | Digital Marketing (DM)

Keywords: Analytics, Digital Marketing, SMstudy, Social Media, Social Media Metrics

Social Media Analytics: Data Obtained

Social media analytics assists in measuring the performance of social media activities by gathering information from social networking websites, blogs, and discussion forums. Key information that is tracked using these tools include the following:

  • Customer Information—This provides rich personal data and insights about customers including gender, age, relationship status, interests, educational background, and socio-economics.
  • Reach—This refers to the potential target size a given activity (e.g. post, tweet, etc.) can reach within the company’s social media network. For example, a company may only have 1,000 followers on a particular social media site; however, its potential reach would be measured as the number of followers multiplied by the number of shares by those followers.
  • Reputation—This can be measured by tracking the number of mentions about the company or its products on social networking sites. This metric needs to be qualified with information regarding the type of mentions being received. Social media monitoring tools also track sentiment—either positive, negative, or neutral. A negative event may trigger as many or more mentions than a positive one.
  • Consumer Behavior—This refers to tracking users’ online behavior and analyzing the content they like, share, and comment on. This also provides insights into customer purchase behavior and other factors that drive conversions. Based on this information, businesses can modify campaigns and content to encourage sharing and commenting by users. This also helps companies to develop strategies that can provide referrals and engage more users.

Here are two examples of Social Media Analytics:

  • A mutual fund company with 5,000 followers on its Twitter account monitored activity regularly and did not find a substantial number of tweets being retweeted. To increase reach beyond its 5,000 followers, the company posted a link to a tax preparation checklist a month ahead of the income tax deadline. Due to the valuable information provided, the link was retweeted with greater frequency, increasing the company’s reach.
  • A golf course in a tourist area understands that people who make golfing reservations are often from out of town. Thus, many potential customers do not have the opportunity to see the course or hear feedback from friends who have been there prior to making reservations. A review of browsing patterns shows a high percentage of users link from the golf course description to the associated user reviews. Therefore, positive reviews from other customers are highly desired by potential customers. The golf course may offer discounts in its pro shop to guests who complete online reviews or like it on Facebook.
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