Wednesday, August 3, 2016

The Importance of Analytics and Measurement in Social Media

By Dan Burdick

       Perhaps the most important marketing tool to consider today is social media. We hear it every day, but why is social media now more important than almost any other division of marketing? The answer lies in the numbers, especially the number of people using and sharing things on social media today. It’s a well-known fact that millennials are more socially interactive on the internet. Simply from daily observance, it is clear to see the customers of the future (and the present) are using more forms of social media on a daily basis, in greater numbers than ever imagined, thus making social media a marketing tool worth monitoring.

For further proof of the importance of social media, look no further than Yasmin Bendror’s article, when she points out, “86% of marketers stated that social media is important for their business.” As for the fourteen percent of marketers who do not believe social media is important, those people (and their businesses) are undoubtedly losing profits and will probably soon be losing their jobs and looking for work as well. The number of social media users only continues to grow universally, as does the importance of social media for marketers. Now that it is clear why we, as marketers, should consider social media to be important, we can move to further examine why measurement and data are important in social media.

Measurement in social media is important for a number of reasons. Measurements, or metrics, can help marketers create and meet key performance indicators (KPIS), set goals, create customer personas and analyze marketing performance across numerous channels. At the same time, measuring social media allows companies to see growth and know when a marketing campaign is working or when it is failing. Furthermore, these measurements give marketers greater insight into customers than ever before.

“OK, that’s great for my website but what exactly are the benefits of measuring social media analytics?” Bret Alexander, J.P. Benedict and Mary Ermitanio highlight the benefits of such analysis in their article, when they write, “The ever-changing social media landscape offers a wealth of minable consumer data, including user demographics, affinities and activities…. there is great opportunity to turn these data points into business intelligence…” So now we know why analytics and data measurement are important, we can move to thinking about how to implement analytics and data measurement into one’s business.

At Blue Shell Interactive, we can help set up and monitor Google Analytics on one’s personal website, to keep track of growth and opportunities. Furthermore, we monitor analytics on social media to help track marketing efforts and help businesses meet their KPIs and marketing goals. In short, we help our customers make sense of the numbers associated with their various marketing efforts.

In conclusion, analytics are important to measure for a number of reasons, all of which fall under the umbrella of helping one’s business thrive. With all this said, social media only continues to grow and businesses that can harness the power of social media and properly analyze their results, will certainly put themselves in a position to thrive moving forward.

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