What Is Social Media Analytics Compass

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The compass includes the most essential areas to monitor for your social media channels.It’s impossible to monitor everything on all channels simultaneously, so you’ll need to determine what areas are important for your business and find a tool to provide relevant reports.So take a look at the compass, decide what’s important for your business to monitor and analyze, and identify the right tool to provide the relevant reports.First, let’s look at each section of the social media analytics compass.  For Digital Marketing Services Check Vivid Digital 

1. Sentiment Analysis

This is where you analyze positive, negative, or neutral mentions of your brand, product or service. A social media monitoring tool like Brand24 will measure and report on the sentiment of your social mentions. Sentiment analysis tools are not 100% reliable but they can give you a good indicator when there’s a problem.Here’s a full description of sentiment analysis taken from Wikipedia: “Sentiment analysis (also known as opinion mining) refers to the use of natural language processing, text analysis, and computational linguistics to identify and extract subjective information in source materials”When you are going through all your analytics you’ll need to start splitting out paid and unpaid media. All social media channels will require some paid media over time but this will affect your statistics.

2. Competitor Benchmarking

We should all learn from our competitors as they are probably learning from us!Compare your content to your competitors by monitoring important metrics, including their engagement stats, audience profile, audience size growth, etc.This active monitoring will give you ideas. Things to learn from and things to avoid!

3. Community Responsiveness

If you’re not responsive to your community they’ll stop interacting so it’s important to measure this, especially if you are using social media as a customer service channel. The response rates on social media are going to be equally important as those for email support requests.

4. Content Analysis

Creating and sharing content is an expensive task. On a regular basis, you need to analyze your content to see what’s working/not working.

A. Are videos, pictures or text updates working best?

B. Do you have the right mix of content?

C. Are you getting engagement on your questions?

D. What changes have happened on the platforms that mean you need to change? (e.g. changes to profile images).

You’ll need to monitor this on an ongoing basis.

5. Traffic

Typically you will want to generate traffic back to your website from content you share and you’ll need to measure the impact of that traffic.For some companies traffic itself is enough. For example, if you are a media site you get paid for advertisements and more traffic means more money!For the rest of us, its crucial to generate leads and sales from the traffic we generate. SEO Agency in London visit Vivid SEO

6. Reach and Engagement

Monitor your social reach to see how much of your audience pays attention to your content but don’t respond to it. Lack of response doesn’t necessarily mean they are not interested and they won’t buy from you.Engagement is also important to monitor because you expect that some of your audience will engage with your content. If no one is engaging with your content you have either the wrong content or the wrong audience!

In an audience you will typically have the following:

Lurkers –

People that monitor what you share but don’t interact. This is usually the majority of your audience.

Influencers –

These are people that have access to a larger audience and have the potential of influencing this audience.

Engagers –

These are people that are more active in your community and you’ll start recognizing some of the names.

7. Audience Profile

As you grow your audience, making sure that you have the right audience profile will be a worthy time investment.For example, Twitter allows you to run a report to see what types of people (entrepreneurs, marketers, etc.) are part of your profile.On Facebook, you can set up an ad (you don’t have to run it) targeted to your Facebook fans and then change the targeting options to work out the profile of your audience. For example, add an interest and see how many of your fans have that interest.With a bit of smart thinking, you can perform this analysis across other platforms. You can use different tools or go for a more traditional approach and conduct audience surveys.

8. Audience Size

Does the size of your audience matter? Yes, of course it does….if you are building a relevant audience (see audience profile).You need to continuously build your audience. Your audience typically grows gradually unless you use tools or paid advertisement to grow. There is nothing wrong in investing in audience growth tactics if you have a process of converting that audience (see our PRISM funnel).Don’t forget to compare your weekly audience growth vs. your competitors. Also, keep track of the ‘unfollows’ where possible.

NOTE:

Thanks to the following people for contributing to the social media compass: Brian Carter, Mark Schaefer, Lilach Bullock, Dan Purvis, Martin Jones, Mark Fidelman, Steven Eisenberg, Stephan Hovnanian, Julia Bramble, Emeric Ernoult, Gregory Bailey, Beatrice Hunt,

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