It’s generally accepted that data is important. But when it comes to using data to improve business results, many people have an instant aversion. Some think they don’t have the technical expertise, others believe they don’t have time. Luckily, being data-driven no longer requires the harrowing process of making pivot tables. Tools have improved significantly and small steps go a long way.
Here are some basics to get your data-driven social media journey started.
How to Measure Your Social Media Success
When measuring the success of your social media presence, you want to look at three key metrics: engagement, traffic, and conversion.
Engagement refers to how many people like, comment, and share your social media posts. Engagement is usually measured in proportion to how many followers you have.
Traffic refers to how many people visit your website from social media. These may be existing clients or new prospects.
Conversion refers to how many of your social media followers and website visitors end up taking a specific action you define as a conversion (anything from filling out a form to becoming a paying customer).
The more relevant your posts are to your audience, the better your engagement and traffic will be. And the results of these metrics are typically all connected; good engagement begets higher traffic, which leads to higher conversion numbers (as long as your website is customer-friendly).
We’ll cover different tools you can use to measure engagement below. To measure traffic and conversion, you’ll need to integrate Google Analytics into your website. Create a Google Analytics account and follow the instructions. If you’re using a third-party vendor to manage your website, like Hearsay Sites, check to see what analytics are available to you.
A Facebook Business Page comes with a dedicated data and analytics section called Insights. From here, you can navigate to different areas of interest via the sidebar.
When you click on Insights, you’ll land on the Page Summary section. This provides a general overview of your Facebook Business Page’s data, such as how many page views you’ve had recently. In the top right corner, you can export your data into a spreadsheet.
A good place to start is the Posts section.
This will tell you what kinds of posts have the most reach and engagement, with engagement broken down by reactions, comments, and shares.
With these insights, you can fine-tune your Facebook content strategy until you’re posting content that resonates with your audience.
Non-Premium LinkedIn Users have access to some basic data, like who’s viewed your profile as well as the number of connections in your network, which you can view on the left-hand side.
Premium LinkedIn users have access to a lot more, with LinkedIn Sales Navigator the most useful solution for advisors and agents. In addition to more robust analytics than the basic level of LinkedIn, you’ll be able to track leads, receive lead recommendations, and get sales updates every time someone changes jobs
Additional analytics that LinkedIn Premium provide is an extended list of everyone who’s viewed your profile in the last 90 days. This gives you an opportunity to reach out to potential leads.
There are two places on Twitter that you can go to to get Twitter Analytics.
One is the Tweet Activity section. This gives you the analytics for each individual tweet. To access it, click the icon next to the heart button on any tweet that looks like a bar graph. From here, you can see a summary of Impressions and Total Engagements (which adds up likes, retweets, and replies) for that specific tweet.
The other feature is called Twitter Analytics. Twitter’s analytics help you understand how the content you share on Twitter grows your business. A few things you can see in the Analytics section include:
- Your Top Tweet
- New followers
- Top followers
- Top mention
- Engagement rate
- Impressions month over month
You can also export your data for a CSV file, which will include your tweets, engagement data, and more.
Create a Data-Driven Plan
Once you have determined which metrics are important to you and your business, it is important to make a plan to utilize these resources to increase business.
Stick with your metrics. Vendors are constantly developing new tools to measure the impact of social media. That said, you should focus on using a handful of tried and true metrics that work for you and fit your goals.
Integrate data into your decision-making process. There are a couple of ways you can do this. For example, when deciding whether you should change up your content strategy, make sure to make it a habit to check your data first to see what’s working and what needs to be changed.
Set goals and strive towards them. A data-driven strategy works best when you are working toward benchmarks. There are a lot of potential metrics out there. Keeping a few specific goals and tracking against them will help you excel.
Learn More at an Upcoming Webinar
If you’re a Hearsay customer and would like a deeper dive into how to become a more data-driven advisor or agent, check out our upcoming webinar “Insights & Data-Driven Workflows”.
In this live webinar, advisors will hear directly from Hearsay’s Customer Education Executive Chris Beck on how to be as data-driven as possible with your social media!
Sign up now for one of our upcoming advisor and agent webinars and learn more about key metrics and how to measure your progress analytically: