Globalization changed the economies of the world by opening up trade channels between people in different countries. The Internet pushed this trend to the next level. With the Internet’s global marketplace, competition is fierce. Marketers who are not careful will lose their customers and profits to clever rivals.
While the global marketplace has a high level of competition, it also offers a massive amount of customers. Fortunately, social media platforms offer plenty of opportunities to spread your brand.
We compiled a list of social media analytics tools that are suitable for evaluating any social media marketing campaign.
What is Social Media Analytics?
Social media analytics is the process of gathering data from social media channels to make strategic business decisions. Imagine that a large volume of Twitter users who retweet your content are from Canada. With social media analytics tools, you can find ways to use this information to make business decisions.
Analytics tools work in various ways. First, you can use them to target the main goals of your business. If you have a publication that you want people to download, you may decide to use analytics tools to track download counts. You can also track site traffic and conversions.
Next, you can follow social media indicators. Clicks, measures of engagement, and audience feedback can be used to help you make business decisions.
Finally, you can use analytics tools to summarize and analyze social media data. Some of the questions that the analyses may answer are:
- What demographic frequently purchases my products?
- What is the location of my readers?
- How did my last five posts affect conversions?
Top Analytics Tools
NetBase curated a large number of social media analytics tools to find options that are suitable for even the most demanding marketers. The analytics tools mentioned here are versatile, so they can be used for business sites, blogs, and media platforms. They can also handle large sets of data.
If you use Facebook to promote your brand, Facebook Insights is a good choice. Facebooks Insights is a built-in analytics dashboard for Facebook users. This tool provides you with a wide variety of insights, including:
- Page views
- Page previews
- Page likes
- Users reached
- Post engagements
While Facebook Insights is useful for people who use Facebook, it cannot be used for Twitter and other platforms. A similar flaw exists for Twitter Analytics, Pinterest Analytics, Instagram Insights, and YouTube Analytics.
Buffer is a fantastic analytics tool for marketers who conduct campaigns across multiple platforms. Buffer can be used to analyze posts on Facebook, Twitter, Instagram, Google+, and Linkedin. You can also use Buffer to schedule posts. Unfortunately, Buffer does not offer a large variety of data insights.
HowSociable is a tool that provides your brand’s ‘magnitude’ on each social media platform. ‘Magnitude’ is a number from 0 to 10 that shows how much people are engaging your content. Assume you receive a magnitude of 2 on Twitter and a magnitude of 6 on Facebook. You can use this information to realize that you need to upgrade your Twitter marketing strategy.
NetBase is a comprehensive social media analytics tool that collects data from all social channels. You can also integrate CRM data into the tool to study how your marketing strategies correlate with business revenue. This tool uses image analysis and machine learning applications to produce insights about all kinds of data.