Do you want to become a social media pro and not sure about where to start? Start focusing on marketing data, we suggest!
Data is simply a collection of relevant statistics and facts. But when you process and analyse data, it provides you with information. The same applies to marketing as well. When we analyze different types of marketing data, it gives us loads of valuable information.
Website traffic, views and clicks on social media, and even the number of times your tweet was retweeted – these are just a few examples of the valuable information that you can interpret from marketing data. Based on such info, you can get useful marketing insights and plan your strategies more efficiently.
Without further ado, let’s take a look at the 8 most essential social media marketing data that you need to keep an eye on.
8 Important Marketing Data in Social Media
Demographic data includes your customers’ age, gender, geographical location, ethnicity, profession, and the like. Collecting this data will help you to know what type of goods and services are best suited for different customer groups.
For example, if you are promoting summer wear such as cotton clothing, you’d want to target people in warmer locations. For products or services related to education, you must target younger audiences who are likely to be in college or university.
So the main idea is that collecting and categorizing customer demographics will help you form general assumptions on your audiences’ preferences, and help you target your posts, ads, and products more accurately on social media.
Audience count refers to the number of people who follow your business handle on social media. The more audience count you have on social media sites, the more exposure your posts will get. But just checking your total followers isn’t sufficient. You also need to track how your total followers change over time.
If there’s a sharp increase in followers during a certain period, it means whatever marketing strategy you used in that period worked well with the people. In contrast, the slow growth of followers, or even worse, a decrease in followers tells you that you need to rethink your marketing approach.
Views and Shares
Another important data in social media is the views and shares you get on your post. Both views and shares are cyclic and interrelated. As your posts get more views, more people will share them as well. And as more people share the post, it will gather even more views.
Based on the ‘view and share’ count of your posts, you will get a better idea of audience preferences. Posts with higher views and shares indicate that lots of people resonated with your post. Fewer views suggest that something is lacking in your post. It could be the lack of proper keywords, or maybe the content was just nor relevant for the audience.
By measuring and analyzing your posts’ views and shares, you can know what content is well-received by your audience.
Likes, reactions, and comments are the quantities that measure audience engagement on social media. It’s essential to keep track of the likes and comments your posts receive, as there are multiple benefits to it.
Firstly, likes and comments give you direct insights into your customer’s mindset. You can find out about their complaints, praises, and suggestions through the comments. It serves as a means of communication between your business and your audience.
Secondly, they act as an indicator of ‘interest retention’. If your post has tons of views but very few audience reactions and comments, it means you failed to retain their interest. Even more, reactions are not always a good thing, if the majority of the reactions are negative.
In short, comments and reactions show what the audience feels and what they have to say about your business, products, or services.
Click-through rates measure how many people visited your website through a link on social media. It is an indicator of whether people are interested in what you have to offer. People will only click on external links on your post if you succeed in grabbing their attention.
So, higher click-through rates mean that your social media posts were interesting enough to convince people to visit the links you mentioned. And fewer clicks suggest that the content of your post was not convincing enough for people to click on the link. Thus, it’s an indicator of the effectiveness of your content.
What good is it if millions of people know about your products but only a few hundred buy them? Creating a global reach and high audience engagement is just the starting step. In the end, the goal of a business is to sell their products and services and make good revenue. So, the next important data in social media marketing is the conversion rates.
Conversion rates show how many people purchased out of all the people who viewed your site. It can be direct – making a sale directly on the social media platform itself – or indirect, where the customers click on an external link through your posts and then make a purchase.
By measuring the conversion rates, you can get an idea of how likely people are to pay for your products, and how you can convince more people to purchase in the future.
Competitor analysis is an important data that all businesses maintain. To outsmart your competitors and stay on the top, you must know how they function.
The followers on your competitor’s social media handle, the average views, shared, and reactions that their posts receive, and the type of content used in their most successful posts – these are some of the valuable data you can collect.
This data will help you in two ways. First, based on your competitors’ performance, you can get a better idea of what type of marketing strategy works and what doesn’t. Secondly, you get better ideas to outsmart your rivals so that your business stays on top.
Investment vs. ROI
Marketing needs investment. There are several costs and expenses associated with social media marketing as well. So needless to say, you will surely be spending money on your marketing efforts.
So another valuable data that you need to record is the amount you invest vs. your Returns on Investment (ROI). Keep track of all the expenses incurred in your social media marketing campaign, such as ad budgets and sponsored posts. Then compare that data with the total revenue you made.
If you make higher investments but get smaller returns, you’re still not at a loss. But your business won’t have much growth either. If that’s the case, it means that you will have to formulate better plans to maximize your ROI.
Social media marketing is extremely effective, but also quite confusing. There are no specific guidelines to follow and plenty of competition as every business, no matter how big or small, make themselves present on social media sites.
But with proper collection and analysis of marketing data, you can drastically improve your performance parameters. So if you haven’t already, then start keeping an eye out on the different types of data we mentioned in this post. We are sure that it will bring positive results to your marketing endeavors.
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