As time marches on, social media becomes a more important part of doing business. Through social media platforms like Facebook, Twitter, and Instagram, businesses can reach out to more potential customers, communicate with them, and generally do better business. Optimizing your social media requires analytics, such as KPI according to NetBase.
Even though most people do, in fact, use social media personally, understanding the inner workings of social media is difficult. As such, businesses often turn to things like NetBase social media analytics tools to better understand various social media platforms, how people use them, and how to gain more from using them.
Nail down key performance indicators (KPI)
One of the most common terms in the jargon of social media analytics is key performance indicator. Also known as a KPI, a key performance indicator is a metric used to gauge how well one’s advertising and marketing strategies are doing.
Always know that you can use any key performance indicators to see how well your social media outlets are doing. However, don’t freely switch what KPI you use with one another.
For example, let’s assume that you decide on five KPI to track your performance. Get familiar with them and tuck them away in your “social media toolbox.” Tomorrow, next week, next month, or whenever you might decide to stack current performance up against previous performance, make sure to use the same KPI to see how well you’re doing.
These key performance indicators should deal with interests like customer engagement and brand awareness, though feel free to pick metrics that measure the areas of interest you or your business is most concerned with.
Every business that has a presence on social media maintains profiles on such social platforms for different reasons. Although most of those reasons are similar, every business should precisely define what their particular reasons are for using social media in such capacities.
After these reasons are pinned down, businesses are better able to pursue relevant, measurable goals from their efforts on social media. Without these goals, evaluating a business’ performance online is virtually impossible.
Source solid forms of data to analyze
Businesses gather data and analyze it to make determinations about their performance and how various factors effects it. However, without sourcing accurate, legitimately rock-solid data businesses can only make assumptions.
Entities should expend relatively substantial resources in sourcing good data. Research can only be of high quality if the data used to conduct such research is of an equally high quality.
Now that you know about the three factors mentioned above, you’re ready to learn about and use a few social media analytics tools.
Forum posts are important, though they’re difficult to monitor
Word of mouth disseminated across the Internet has been shown to be as trusted as hearing people’s opinions of businesses in real life.
Boardreader is a popular digital tool that businesses use to keep track of what’s mentioned online about their brands, products, services, employees, and general fields of operation.
Social media posts are important to monitor, too. If you’re looking for social data from Twitter, Followerwonk is a quality tool for businesses that need to garner insights from particular followers and Twitter at large.