Technology helps us live easier, more fulfilling, and longer lives. A popular technological phenomenon is social media. Today, this even involves webpages and mobile apps that help users connect with friends, family, coworkers, and peers. This is possible though direct communication, public posts, picture sharing, and showing articles of interest. Businesses often use social media to their advantage. They form lasting connections with social media users that interact with their company pages. You can track all of this information down But what is social media analysis anyway?
Social media performance is often abstract, and always difficult to understand. Businesses utilize number-heavy metrics to engage in learning what is social media analysis and evaluate customer engagement and overall performance. So, here are the best ways to use your digital marketing. You can, then, enjoy measuring your social media ROI.
What Is Social Media Analysis?
Broadly, social media analysis involves processing troves of pertinent data related to:
- An organization;
- Its competitors;
- Those who engage with its social media presence.
Computer programs often assist organizations in making sense of data gathered, informing them of inferences otherwise not thought of without deep analysis from algorithms and complex formulas.
- Engagement is a metric measuring how often users engage with particular posts or pages in general. An organization may tally the number of likes 24 hours after content is posted, place that value as a numerator over the total amount of page viewers,. Then, they adjust social media strategies to garner more likes. This is a measure of engagement. It may be used in comparison to competitors or social media pages in general.
- Reach measures how many people an organization’s posts, shares, or other content were seen by other social media users. Reach utilizes similar calculations and resulting analysis.
Who Uses a Social Media Analysis?
What is social media analysis in terms of potential? Virtually everyone who uses social media for financial gain uses social media analysis to earn more money. This can be done directly or indirectly. Social media influencers, which are popular personal Instagram accounts like Instagram models or high-follower comedy pages, directly profit from increased followers and interactions.
Companies that utilize social media pages to connect with customers and spread their brand image earn money indirectly. They can earn them through strengthening connections with users, hoping to sell goods or services to them. The social media analysis helps:
- Influencers understand what content their followers most enjoy;
- Businesses connect with potential customers;
- Others users gain followers, engagements, and further reach.
Ways in Which the Social Media Analysis Can Help Your Business
- First, businesses must have at least one social media page to benefit from related analysis. Entities with follower counts in the range of hundreds may not gain from social media analysis. This is intended for inferring complex insights from mounds of data. Organizations with ample followers usually download a social media analysis software to garner insights from data.
- Other common routes taken by businesses large enough to benefit from such analysis are hiring a consultant or paying a digital marketing firm to perform algorithmic evaluations. Social media sites themselves often provide relevant numerical values regarding number of likes. They also look at how many users engaged with particular posts, and how many accounts are exposed to posts on their timelines, other pages’ timelines, and other places explored or searched for.
- Comparison to industry leaders is crucial to obtaining meaningful inferences from values related to social media. For example, manufacturers may not maintain social media pages as often as news agencies. If a manufacturer examines metrics related to engagement and compares it to news agencies’ engagement statistics, the manufacturer will not be able to scrutinize any meaningful information whatsoever. This is true because news agencies have millions of followers, whereas manufacturers are lucky to have thousands.
4 Ways to Get the Most Out of the Social Media Analysis
1. Benchmarking an Organization’s Performance Is of Highest Importance
Analyzing progress over time in response to posts, shares, and public relations events provides businesses with social media users’ responses to them. For example, a business gets 300 likes from a post it made two days ago, 350 from a post one day ago. The business assumes it gained popularity over the past day. What if its average number of likes is 750 per post over the last year?
Benchmarking would provide that business with knowledge that its average engagement dropped significantly over the past few days. Also, it may be because of bad PR moves or insensitive posts. Without benchmarking, the business may think its recent 50-like increase is favorable. In actuality, that increase isn’t good because it’s still 400 likes from its average number of likes one year ago.
2. Businesses Should Approach Changes in Social Media Performance Holistically
This means that they weigh factors relevant to their entire business in analyzing social operations. An insensitive commercial may reduce the number of likes a particular business gets.
By weighing factors outside of pure social media performance, that business could infer that their negative PR move was directly associated with changes in likes. Not doing so would leave it in the dark.
3. Getting Help from Popular Influencers Can Boost Business Performance
If a business manufactures fitness supplements, it could benefit from contracting a popular fitness model to publicly promote its products. That model’s close followers may immediately purchase the business’ supplements.
At least, they should view its brand more highly than supplements not approved by the influencer. Social media influencers often aren’t every expensive. Moreover, they can effectively boost brand exposure and performance.
4. A Business’ Comprehensive Base of Social Media Followers May Log Online at Certain Times of Day
News agencies with early-morning shows may benefit from posting earlier in the morning. Conversely, social media pages for nighttime clubs and bars would benefit from posting later in the evening.
Businesses can perform social media analysis by observing collective follower bases to best infer what times of day are most appropriate to post.
What Is Social Media Analysis? The Practical Lesson: Logging In
Social media is used by a healthy portion of our world’s population. More than two billion log onto Facebook every month, the world’s most popular social media site. Business entities and organizations can undoubtedly benefit from utilizing social media pages. This is mostly to promote their brands, products, and closely engage with customers. You can benefit from the results of the social media analysis, too. What are you waiting for?
Any reader with experience or knowledge of social media analysis is invited to share their thoughts below. We’d love to hear them!