Social Media Analytics for Your Online Business

Social Media Analytics

The best and highest ranked Indian social media campaign list is definitely incomplete without Narendra Modi’s election campaign in 2014. He was surrounded by over 120 lakh community members on Facebook and over 3.5 million followers on Twitter.  These breakthrough social media analytics point to the fact that, the power of social media is beyond imaginable!  

There are many organizations, businesses and services who have gained tremendous recognition and empowerment due to social media. For example, Lifebuoy’s “help a child reach 5” campaign on social media has created a huge noise and captured attention of millions to the cause of extending a village child’s life beyond 5 years. 

Social media is not all about posting, circulating and consuming news or current trends across the world. Analyzing your content and audience plays an equally important role in optimizing your core objective (create awareness, get more followers or likes, double your charity, get more clients, create a viral circuit of your videos or images and so on). 

Here are some interesting social media statistics and reasons why to believe and breathe social media today.

Social Media Analytics

To begin with let’s deep dive into the main components of social media analytics that you should be aware about: 

Reach

 Remember the time when Facebook was unveiled and all that mattered on your profile was: 

  1. Number of likes on your pictures 
  2. The exhaustive “friends” list? 

Social Media Analytics

PayUmoney Instagram Handle

Gathering fans and followers for your business is first step towards forming your tribe. Once people have taken this first step, you will get a better learning about them and this help you to tune your posts or engagements and communication towards them more finely. While the number of followers and likers is an important metric to count on, it is only the first step.  

Just knowing the people is incomplete without being aware of where they come from and who are they. Location and demographics also play a vital role in determining your reach. Considering the above use case of Mr. Modi in mind, he did use social media as an effective tool to reach out to the youth in the metros extensively. But, to penetrate deeper into the country he personally visited a few places like Varanasi to reach out to the people there.   

Engagement 

Engagement is about how well you have retained your followers or likers. It includes: 

  1. Likes/Hearts/Favorites 
  2. Comments 
  3. Tags 

Social Media Analytics

Facebook Business Page Insights

Engagement basically refers to the exact number of people who have accepted and are in agreement with your content. Many a times it so happens that, you might receive 100’s of likes within just minutes of publishing a post whereas some other posts many not even be looked at. Keep a constant tab on the content and reaction pattern is a must.  

Amplification 

Amplification is nothing but the virality of your social media content. This includes the number of retweets and shares. This metric indicates the number of people who got your message and by sharing your content they are just drilling their engagement with your business deeper.  

Conversion  

Last but not the least, after reaching out to your relevant audience, engaging with them appropriately and getting them to share your content, the number of people who actually bought your service or product. Conversion rate is more or less related to engagement wherein your audience have absorbed the content you have put up on social media channels.  

Top Tools for Social Media Analytics: 

To ease out the entire process of analyzing your social media profile, here are some great tools to look out for: 

  1. HootSuite 
  2. Sprout Social 
  3. Tweet Deck 
  4. Crowd Booster 
  5. Social Flow 

These tools are developed not only to track your social media presence, but also to help you create, schedule and distribute your content on various channels. View their official sites for more details.   

Social media is all about establishing a good virtual connect with your well-wishers, social media analytics help you figure out the success rate of that agenda. For more information on scaling your online business stay tuned to PayUmoney blog 

Author: Kinjal Shah

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