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Social Media Analytics: How’s Your Social Media Strategy Going?

Social Media Analytics: How’s Your Social Media Strategy Going? image einteractivesocial media analytics3Are you really kicking your social media marketing?

For too many folks the answer is:

I don’t know

And, that’s a problem. Without good social media analytics and someone who knows how to interpret them, you just keep doing stuff and HOPE you’re getting some results.

What specific social media strategies are working? Which social networks work best? What types of content produce the best results on each social network? What time works best for posting on different social networks?

Who is reading your blog? Commenting on your Facebook posts? ReTweeting your Tweets?

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How do you bring more traffic to your website?

Are you optimizing your social media strategy?

What’s the ROI of your social media strategy?

And, if you look at this infographic, you’ll see that more than half of all businesses can’t answer these questions.

Without good social media analytics, you’ll never answer these questions — and more

How to use social media analytics to make your social media marketing ROCK!

1. Determine appropriate metrics -

What are your KPIs (Key Performance Indicators)? In other words, what variables translate into ROI (Return on Investment) for the firm?

Of course the problem with marketing is that often it’s hard to translate social media marketing into tangible results — specifically sales. But, combining social media analytics with market research, you can draw a line from social media results to market performance.

Another way of looking at KPIs is that they should fit with the goals of the firm. And, these goals should be consistent with market performance, such as customer satisfaction improvements.

KPIs from your website or blog might include metrics such as #visitors, time on site, bounce rate, and views for specific content. KPIs from your Facebook page may be measures of engagement. Other KPIs might reflect your actions in social media, such as the average time between a comment on your Facebook page and your response.

2. Assess performance and optimize

Assessing performance is actually a multi-part activity. First, you have to set up your social media strategy so it’s trackable. That means creating landing pages, setting up codes within your site, create filters so you can see what visitors are doing using Google Analytics and Facebook Insights for Business. On Twitter, you can use hashtags # to determine whether your social media strategy is working.

Without these coding tactics, it’s more difficult to use these tools to see what’s working.

3. Use tools to track social media interactions on sites you don’t own.

You’ll want to see how your brand is doing on social networks you don’t own. And, you won’t have analytics for these sites. That’s where tools like Radian6, Ubervu, and my personal favorite, Hootsuite Pro (get a FREE 30 trial of Hootsuite Pro). come in. They track brand mentions across the internet — including on social media sites and websites. Free tools such as Google Alerts and Social Mention can also help see what’s being said about your brand, although I don’t think these capture as much as the paid tools. I use Google Alerts to supplement Hootsuite because, why not?

4. Interpret metrics

Social media analytics goes beyond just collecting the data, you have to interpret it! So, once you have the data, use it to determine what’s working and how to optimize your social media strategy.

  1. What do the metrics mean in terms of market performance variables such as satisfaction, loyalty, and endorsements?
  2. What kind of WOM (word of mouth) comes from your social media marketing efforts? Not only how many folks are talking about your brand, but what are they saying about it.
  3. How well are you doing connecting with your target market?

5. Optimize your social media strategy

What do your social media analytics say about your target audience?

Are you giving them what they want?

Is there something else your target audience needs?

How does your target audience live their lives?

How does your target audience respond to various types of content?

Need help creating or monitoring your social media strategy?

We’re here to help. Hausman and Associates, the publisher of Hausman Marketing Letter, uses state of the art social media analytics and market research to optimize market performance on your brand online. We’re happy to provide a proposal showing just how affordable a powerful social media policy can be.

Be sure to sign up for our email newsletter. We’ve finished the first chapter of our new Social Media Analytics book and we’re looking for reviewers to give feedback. Newsletter subscribers have first option for these reviewer spots — and get a FREE copy of the book for their efforts.

Be sure to subscribe to our email newsletter, where you’ll get even more insights to make your marketing SIZZLE Hausman Marketing Letter

Comments on this Article: 5

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  1. Some really interesting stats here – amazed at how many companies are still unsure of the value of being on specific networks.

    Shame not to see Brandwatch and Spredfast in your paid tools list, as they are both also strong tools in the market.

    But otherwise great infographic, thanks :)

    Jasmine
    (Community Manager, Brandwatch)

  2. Brittanie says:

    Great infographic and really interesting stats! I didn’t know that Hootsuite Pro could be used to track some of our social sites. I just thought it was used to schedule posts. We just use Google Alerts to check for those kinds of things.

  3. Ethan Krane says:

    Hi, interesting article. I would just like to add that social media monitoring however good it may be to allow business to gather information, it doesn’t really enable for the ultimate in customer satisfaction. Customers tend to want to be heard in real time and have their feedback taken care of on site. Something like what the tool called Geteco ( http://www.geteco.com ) provides. real time interaction would then lead to an increase in customer positive reviews and feedback on social media.

    • James Pauner says:

      Hi Ethan, i completely agree with you on what you have said that customers really want to be heard and made to be felt important. Take the hotel industry which i work in for example, i feel that taking care of guests feedbacks before they leave the premises not only gives you a chance of increased guest loyalty but also reduces the chances of having to hear negative feedback about your business on review sites, social media etc.

      By the way i have also heard about the Geteco application you mentioned and in fact coincidentally my hotel is currently under talks to implement it in the near future. Customer satisfaction should be top priority to any business :)

  4. Gary Hyman says:

    Great post.It at least brings an awareness to those who are not measuring anything. As a marketer you have to measure everything – from initial audience contact until they hit the buy me button (or not). It’s so important to measure any marketing initiative – social media or not. Again, thanks for sharing.

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