Go Forth and Analyze: The Importance of Social Media Analysis
Social media feels like it happened overnight—it’s fast- paced, ever-changing and, in the beginning, didn’t provide a way to really quantify performance. Sadly, ROI was not an option. But over time, and with the introduction of other social networking sites, we’ve learned how to gather information and identify areas that are relevant and provide data that help us meet goals.
There are several different ways to approach analysis, but it all boils to down to the “what” and “how” that’s measured. It is first important to establish your goals and from there you can gain valuable insight on your efforts, such as:
-Specific data including audience size, CTR and ROI
-User-oriented data like range of exposure, engagement and interaction
-Less defined data like buzz, virility and influence
To make analyzing social media even more confusing, most social media report differently. Since marketers have recently just begun to question the results of their social media efforts, there’s not a one-size-fits-all solution. But there are important components that can be applied across all social avenues for monitoring and analyzing social media trends including:
MentionsBy users and consumers, as well as branded efforts to utilize social media to share information, prompt for interaction and provide better overall brand awareness.
Impressions or reachThe amount of users who viewed a particular post or saw an advertisement on a social site.
SentimentsThat users and consumers indulge about brands. Monitoring positive, neutral and negative feelings can not only open the door to better customer service, but reveal how to improve brand identity.
InfluencesCan be difficult to identify; in an ideal world we’d be able to classify influencers by brand and target them. There are tools that help measure influence, but an elementary way to monitor is by tracking metrics like followers, likes and page views.
Online resources can make discovering and tracking data easier. They take the time and guesswork out of reporting social media variables, which helps keep data consistent. Below are a few examples and how they may benefit your social media efforts:
Radian6Considered one of the best resources available, Radian6 monitors and collects social engagements associated with online content in real time across the Internet.
Google AnalyticsA free service that generates detailed statistics about web visitors. With Google Analytics, you’ll be able to track referred visitors from social media sources.
Mention.netSimilar to Radian6 but boasts “anti-noise technology.”
Facebook InsightsFacebook provides an Insights Dashboard for your page traffic and interactions.
JitterJamCombines social media monitoring, contact database and multi-channel digital marketing into a single social CRM platform.
Shared CountTracks shares, likes, and tweets for your online campaigns.
KloutMeasures influence based on your ability to drive action using data from several social networking sites.
Google AlertsAn automated web search service to monitor online content across the Internet.
The secret to good social media analysis doesn’t always rely on outstanding resources—managing monitored data has a far greater payoff. Being consistent with recording and reporting data allows for trends to be distinguished and can yield invaluable insights to social media performance. Having tools and resources are nice, but what does data tell us without historical context?
Armed with understanding that social media can impact your brand brings your business into the twenty-first century. Improving data analysis and management to build an authentic timeline of your social media results puts you ahead of your competitors. So go forth and analyze.
On Friday, May 25, 2012 LEAPFrog Interactive officially opened its new doors at 2500 Technology Drive. The new office space has an open floor plan, promoting impromptu brainstorms, and open communication.
“Our old office space created a silo effect, keeping every department contained to their core group,” said Alan Gilleo, Chief Creative Officer at LEAPFrog Interactive. “When we bought the warehouse it was purposeful – we wanted to encourage melding between departments. We still conduct business through our LFI process, but now we can better infuse our culture into the process.”
The colorful murals, high ceilings and modern- industrial aesthetic harbor a superior creative environment that’s perfect for brainstorming, hosting industry events, and the occasional game of keep away. And, with plenty of room to grow, the LFI family plans to call 2500 Technology Drive home for many years to come.