We all know the importance of data and reporting, but the truth is it’s what we do with these quantitative insights that really matters. From determining how often to pull metrics to what questions you’re trying to answer with that data, it’s crucial to devote some time to digging into analytics.
In this week’s #SproutChat, we were joined by Sprout All Star, Dave Macdonald, of SocialXpresso, to chat about best practices for gaining actionable insights from the numbers. From what metrics to pull to timing and strategy, we covered the umbrella of analytics.
Different Metrics for Platforms & Goals
Make sure that when you’re creating goals for your social media strategy, that you’re also identifying which metrics are valuable to your brand overall. Metrics differ across various content types as your intent behind each differs.
A1: We put the highest priority on measuring engagement rates regardless of the platform. #sproutchat http://pic.twitter.com/0UksMkL8Xt
— Dave Macdonald (@rdavemacdonald) October 18, 2017
A1: The metric that is most important varies depending on the goal of the social media platform. What are you trying to achieve? #sproutchat
— Netvantage Marketing (@netvantage) October 18, 2017
It matters more by content type. If the goal is awareness – impressions + engagement. If the goal is conversion – click through. #SproutChat https://t.co/Zp4qbBxmdk
— JL Summerfield (@JLSummerfield) October 18, 2017
A1 For me for Facebook advertising for eCommerce, I focus a lot on impressions. The consumer needs frequency on an ad #sproutchat
— PCG Companies (@pcgdigital) October 18, 2017
A1: Engagement metrics (shares, likes, comments) are important across all social media platforms. #SproutChat
— Sortis Marketing (@SortisMarketing) October 18, 2017
A1: Different stakeholder may have different goals, which means they should pay attention to different metrics. #SproutChat [TK]
— ModSquad (@modsquad) October 18, 2017
A1: The most important metrics to follow are the ones that lead to your goals/KPIs. I think Cheshire Cat said it best. #SproutChat http://pic.twitter.com/eKDF5kI2YG
— Patricia Weigle (@SocialTruffles) October 18, 2017
Pull Data, but Not Too Frequently
It’s hard to identify particular trends or patterns if you don’t give your content time to full flourish. If you’re looking for granular data points on particular posts, checking in daily is fine.
A2: We only measure the first 28 days for monthly reports and 90 days for quarterly reports to create consistent reporting. #sproutchat
— Dave Macdonald (@rdavemacdonald) October 18, 2017
A2: For Most clients, we pull monthly. A few want to see WoW and MoM- newer and trending brands. #SproutChat
— Jordana (@MamaKujo) October 18, 2017
A2: It's great to measure social media results weekly. It helps to see what's worked and what hasn't with your content. #SproutChat
— Express Writers (@ExpWriters) October 18, 2017
A2 Weekly and monthly, beter to track, analyze and see any changes #SproutChat
— Ivana Ćirković (@i_cirkovic) October 18, 2017
A2: We (mostly my student intern tbh) pulls daily to check for impact (do we repost). I pull and assess monthly and quarterly. #SproutChat https://t.co/bwNO90Aevb
— Josh Kohnert (@JoshKohnert) October 18, 2017
A2. I like to pull metrics weekly to get something more comprehensive to report further on #SproutChat
— Melissa Omolo (@AyotAdhiambo) October 18, 2017
A2: Often times monthly. But then in times where there's good traction I go for WoW. #SproutChat https://t.co/y1TBTF98Mm
— Dhaval Shah (@dhavalgshah) October 18, 2017
A2: always at least monthly, sometimes weekly or daily if I'm looking for something specific or just starting with a brand. #sproutchat
— Heather Montgomery (@heatherslg) October 18, 2017
A2: Daily metrics for individual posts (strong copy/creative) Then compare weekly&monthly engagement to salesforce leads! #SproutChat https://t.co/VEaWoeIQ4r
— Claire Kennedy (@claireakennedy_) October 18, 2017
Track Internal Benchmarks
One of the simplest ways to measuring success on social is keeping track of internal benchmarks. This is how you’ll see monthly and yearly growth, as well as identify where you’ll need to beef up other areas of engagement.
A3: All of our goals are attached to internal benchmarks, but we'd be lying if we said we didn't peak at competitor comparisons. #SproutChat
— Dave Macdonald (@rdavemacdonald) October 18, 2017
A3. Internal benchmarks that were derived from researching industries (not just HESM), and competitors. #SproutChat https://t.co/WfwECVkoir
— Josh Kohnert (@JoshKohnert) October 18, 2017
A3: Start with internal benchmarks. If you're not living up to what you're trying to achieve internally, keep your focus there. #sproutchat
— Netvantage Marketing (@netvantage) October 18, 2017
A3 If aplicable. Important to know if we're on the right track or do things better 🙂 #sproutchat
— Ivana Ćirković (@i_cirkovic) October 18, 2017
A3: You should look at all of these to see how you measure up to others and whether you're meeting established goals. #SproutChat
— Sortis Marketing (@SortisMarketing) October 18, 2017
A3: mostly internal but keep an eye out for industry and competitors 👀 #SproutChat
— Shannonigans (@mausi_nana) October 18, 2017
A3: Yes, depending on the program & its goals. Important to have a reference to measure success by & in some cases, improve on. #SproutChat
— WolfeSolutions (@WolfeSoIutions) October 18, 2017
A3: We compare against internal benchmarks for growth & to inform our decisions for the future. #SproutChat https://t.co/DYZRizrGEO
— Aisha White (@itsaishawhite) October 18, 2017
A3 All of the above! Normally spend the most time on internal benchmarks, but check on industry & competitors on a reg basis too #SproutChat
— Katie Burton (@KatieBurton_) October 18, 2017
Metrics Answer Strategy Questions
It’s one thing to create a social strategy before the start of the new year, but without tracking metrics it’s difficult to tell if your efforts are paying off. All of the questions you may be asking yourself when you’re posting social content can be answered by taking a peek into the analytics.
A5a: Every bit of data you collect "Yes! Even most vanity metrics" can assist your optimization efforts. #SproutChat
— Dave Macdonald (@rdavemacdonald) October 18, 2017
A5b: The key to SM metrics especially "vanity metrics" is to remember the old saying "correlation does not imply causation." #sproutchat http://pic.twitter.com/AYYOP0qoWf
— Dave Macdonald (@rdavemacdonald) October 18, 2017
A5: Data is a driving force for your strategy. Treat it like a compass to point your strategy in the right direction. #SproutChat
— Flying Cork (@flyingcorkpgh) October 18, 2017
a5) Important to set up the tracking and key metrics upfront to make sure you can capture all key elements. #sproutchat
— Steve Cassady (@SteveCassady) October 18, 2017
A5) How about how much time to spend on it? Maybe you have a small but dedicated following. Have you engaged whom you want to? #sproutchat https://t.co/mm4eZPdAYk
— Jeremy Bond (@JeremyDBond) October 18, 2017
A5: Measuring metrics help you realize what is working and what isn't. It's the only feedback you get on your social strategy. #SproutChat
— Sway Group (@SwayGroup) October 18, 2017
A5 Metrics can show what content your audience is responding to best, what platforms are driving results, & best time to post. #SproutChat http://pic.twitter.com/MlnfPJn9C1
— Katie Burton (@KatieBurton_) October 18, 2017
A5: All about that data to support or deny your theory! #SproutChat
— Cindy Stuntz (@cindy_stuntz) October 18, 2017
A5. When you set KPI, following the metrics helps you see how you´re hitting your targets. And if not, where to make adjustments #SproutChat http://pic.twitter.com/zpqRWypVOa
— Patricia Weigle (@SocialTruffles) October 18, 2017
Be sure to join us in next Wednesday’s #SproutChat to talk about best practices for managing content. Until then, check out our Facebook community to connect with other brilliant folks in the social and digital marketing sphere.
This post #SproutChat Recap: Gaining Actionable Insights From Analytics originally appeared on Sprout Social.
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