Social media is a network-based communication in which people from many societies and communities communicate with one another and exchange their views, ideas, and information over virtual networks. People use web browsers to view a wide range of websites. Various search engine optimization methods are employed to make these sites perform properly. These tools improve the visibility of web pages in search results. To determine the performance of websites Social Media Analytics software platform is used. The process of gathering and evaluating audience data provided on social media in order to improve a company’s strategic business decisions is known as social media analytics. Following are the six social media matrices that are tracked with respect to a website:
- Performance metrics: Performance metrics include:
- User engagement with the content posted on the website.
- Steadily increase in the number of users on the platform.
- Whether or not traffic from other social media networks is effectively directed.
- Audience Analytics: Foremost step is to identify the target audiences. It will help you to identify what they want. Various analytical tools are available to determine customer behavior. Different sources can help media businesses boost their audience analytics and learn more about the sorts of material viewers want and how they consume it. These include:
- Customers’ demographic information.
- Social media activity.
- Advertising Data.
- Device usage.
- Media resource usage.
- Third-party data sources.
Various Audience Analytics tools are available to understand your audiences:
Buffer Analyze, Iconosquare, Sprout Social, Tailwind, Hootsuite, Likealyzer, Zoho Social, Sendible, Union Metrics, Keyhole, Google Analytics, Audiense, Rival IQ, SparkToro, Social Report, Klear, Socialbakers, Talkwalker, Cyfe, Quintly, Followerwonk, etc.
- Competitor Analytics: It involves finding the strengths and weaknesses of the competitors. It involves finding the answers to the following questions:
- Who are my actual competitors?
- What type of content should I follow?
- What are my targetted keywords?
- What should I do more to attract users to my website?
- From where I can find the links?
Various competitor analysis tools are available to understand your social media competitors:
Sprout Social, Social Blade, Phalanx, Ahrefs, SEMRush, MozBar, Similarweb, Buzzsumo.
- Paid Social Analytics: There are a number of paid social media management tools available to analyze and monitor the performance of a website, like how much traffic is coming from which platform, which content is best suited to attract users, and how many leads and conversions you are making to have a good business. Important matrices to track the users are:
- Total clicks
- Ads running on the website
- Click-through rate
- Cost per purchase
- Influencer Analytics: Social media influencers play a major role in social media marketing. It involves those people who are either experts or have vast knowledge in that particular area or those people who have a large number of followers under their influence. These people deal with the owners and make money based on some of the following matrices:
- Total interactions are divided by the number of people that have followed the influencer on social media.
- Audience size.
- The number of posts an influencer creates to attract his followers to a particular platform.
- Past collaborations and the potential of the influencer.
- Sentiment Analysis: Sentiment analysis involves Natural Language Processing (NLP) to determine the sentiment behind the posts or comments given by the user. It bifurcates the emotions, whether the post is positive, negative, or neutral. It involves the matrices:
- Participation rate
- Reach of Social media
- Number of interactions
- Shares on Social media