Social media analytics tools allow you to monitor data, assess it and improve social media strategy. Track social media efforts and measure the following data analytics to ensure successful social media success.
Audience Profile: Ensure that you have the right audience profile as you grow your audience. Facebook allows you to create a targeted advertisement and change targeting options to suit your target audience profile.
Audience size: When building an audience that is relevant, the size of your audience matters and needs to be continuously built, preferably, organically. Assess audience growth or decline regularly and compare it with your competitors.
Reach and Engagement: How many of your audience are engaging with your content and how many are your reaching? Are your audience paying attention to your content and/or responding to it? Lack of engagement indicates that your content may not be relevant to your target audience or you are targeting the wrong audience.
Ad Performance: How is your ad performing, how many people saw your ad and how many engaged with it.
Traffic: If you want to generate leads and sales, ideally you want your content to drive traffic back to your website so you need to measure the effect of that traffic.
Content Analysis: Analyse and monitor your created and shared content regularly to determine what is working or not working.
Competitor benchmarking: Learn from your competitors and compare your efforts with them i.e. their engagement, audience size growth, audience profile etc.
Product/service Campaigns and Sales: Track created campaigns on your channels and sales for your product/service on your website to see where the sales are specifically coming from/where traffic to your website is coming from.
Each social media platform provides free analytics tools i.e. Facebook Insights and Twitter Analytics. You can also sign up for paid social media management tools that provide analytics and reports. There are also social media measurement tools that provide only social media analytics and reports. As you grow your social media presence you should consider a paid 3rd party cross-platform analytics tool.