Do you want to improve your social media performance? Perhaps you are not satisfied with the results of your social media or content marketing campaign. Your ecommerce website may not be producing the results that you want. Is the demand for the items that you are promoting on your website and social media accounts below what you have expected? Don’t be discouraged. Read this article. It will show you 5 tips on how you can start your ecommerce and improve your performance on social media in just a short time.
Have You Heard About Ecommerce Social Media Analytics?
If you have not yet heard of ecommerce social media analytics, it’s about time you do. Basically, it is the process by which data or information from the conversations of stakeholders done on digital media is gathered and processed.
This data is then converted into organized insights that can be used to make business decisions that are data-driven. The ultimate objective of the process is for companies and brands to increase focus not on themselves but more on their customers.
Why Ecommerce Social Media Analytics is Important
Social media analytics can show how a social media campaign performs with respect to its objectives. Social media analytics can track, evaluate and more importantly, enhance the performance of your social media campaigns.
It will guide you as to which of your activities you need to measure. Oftentimes, you do not know what you need to measure. You are also not sure which metrics you need to use to show what social data is important. As such, the decisions that you make may not be the right ones.
This is borne out by the fact that your social media performance is lacking. But this is no reason for you to get discouraged. You only need to be aware that social media analytics is really important. To see your ecommerce blooming, you need to know how to use this process. Here are 5 tips on how you can use social media analytics to improve your social media performance.
1. Deciding What Software and Tools You Need
You are fortunate because there are several software and tools that you can use for your social media analytics to show you what is happening in your site. Some of them are completely free to use while others charge certain fees.
This social media analytics tool is totally free. That doesn’t mean that it is deprived of features that other tools have. Here are some of its features:
- Social media conversions – set up goals and monitor their conversion rates with the goals distinguished by different social channels.
- Monitor traffic from specific social media platforms – you can see the traffic that comes from specific social media platforms. For those with custom URLs, they can monitor traffic coming from a certain link that you share with others.
- Check real time traffic
- Create social media dashboard
- Create a segment to see the information of a specific channel
This is another great social media analytics tool. Its features include the following:
- Tracking of best date and time to publish
- Powerpoint presentation for creating reports
- Create reports on social media analytics for Twitter, Facebook and Instagram
- Indication of response time for replies to responses.
- Posts published statistics on link clicks, type of content, mentions, engagement, and so forth.
To use this social media analytics tool, you need to pay at least $50 a month. Take advantage of the 14-day free trial period to see how it works. For this fee, you can use the following product features:
- Workflow management through tasks
- Identify the most productive content, analyze where conversation takes place, measure engagement of your audience
- Industry benchmarking and competition tracking
- Support for Twitter, YouTube, Facebook and Instagram
- Reports can be customized
This tool is good for social media competitive analysis. It allows you to create several landscapes of clients and competitors. Use these landscapes as their performance monitors in both the web and in social media. This tool will cost you $199 a month to track 10 companies. Some of its salient features are:
- Tracks traffic produced by AdWords
- Supports YouTube, Facebook, Pinterest, LinkedIn and Instagram
- Monitors social metrics in all supported channels
- Follows shared contents that produce the best results
- Monitors multiple clients or markets by using landscapes
- Examines date related to SEO
This is another social media analytics tool that charges a fee. It will cost you $119 a month to use this tool. Some of its features are:
- Create daily, weekly and monthly sales reports
- Compare posting activity between you and your competitors.
- Create a report on social media benchmarking
- Can be integrated with Google Analytics
- Reports on social media analytics for LinkedIn, YouTube, Twitter, Instagram and Facebook
- Find the post that drives the highest customer engagement
- Reports on influencers which are specified by engagements, likes, shares and so forth
- Performance leaderboard that shows your performance compared to your competitors
2. How to Track Your Social Media
You can use Google Analytics to track your social media performance. This is how it is done in this analytics tool.
Set SMART goals
- In this context, SMART means Specific, Measurable, Attainable, Relevant and Timely. An example of a SMART goal is this: My goal is to increase the number of my audience on YouTube two times by the end of 2019.
- This goal specifies how much you intend to grow your business and the time you have allotted yourself to achieve it.
Install a social media analytic tool in your computer
- In the case of Google Analytics, it will be good if you will also add Google Tag Manager in your installation. The tag manager will enable you to organize all the data that you will use in your social media analytics. You need to create an account on the dashboard of Google Tag Manager. For instructions on this, you can go online and find the instructions on Google Analytics and Google Tag Manager
Set up analytics tag with Google Tag Manager
- This process will merge Google Analytics with Google Tag Manager
Start creating your goals in Google Analytics
- You can now set up goals on the dashboard which you can use to monitor the key performance indicators of your website.
3. Determine What Data is Important
You have to prioritize the data that you will track in your social media analytics tool. Your ecommerce business has its own distinctiveness which is not the same as the properties and conditions of the businesses of your competitors.
Therefore, it is important for you to decide which data and metrics are relevant and critical to your business goals. Here are some examples of important data that you need to track in your social media campaigns.
- Follower growth
- Click-through rates
- The right time for engagement identification
- Audience demographics
4. How to Present the Results of Your Analytics
You should not just present your report in an Excel spreadsheet and say that you have already completed your task of showing the results of your social media analytics. If you want your intended user to get the gist of your social media analytics, your report must be visually appealing, easy to comprehend and very easy to skim.
Your report must also supply enough data that will prove that you are producing the right results. It’s not that hard to produce such reports. The internet has many sources of free social media report templates.
5. Acting on Your Data
After you have gathered all your data, you need to act on what the information shows you. For example, if your data shows that your contents are lagging behind your competitors in terms of shares and likes, you have to improve the manner by which you create contents.
If the data shows that your competitors are reaching more customers than you, you need to design your social media campaign with the goal of reaching more customers within a certain time frame. Remember: you need to set SMART goals to be effective on social media.
Consumer data not only helps increase sales and make more money, but it also helps increase efficiency and reduce waste. And as you may have already learned from your experience in ecommerce, spending less can as good of a revenue generator as earning more. And as the famous saying goes, a penny saved is a penny earned.
If you will track your data, you will definitely improve the results of your e-commerce marketing campaigns in social media. Not monitoring your data will only result in lackluster performance of your marketing efforts.
Use ecommerce social media analytics to get better results. This tool is available to you. Some social media analytics tools are free while some come with a price tag. It will make a huge difference in your results if you use the data in the this analytics tool reasonably and strategically. If you want your ecommerce to flourish, then you are getting behind your competitors by ignoring its impact and the opportunities it can uneleash. And, again, don’t forget about SMART goals.
Additional recommended reading: Instagram vs Pinterest – Which is Better for eCommerce?
For a quick overview on 10 simple steps to social media analytics success, check out this great infographic from TalkWalker.