Analytics

5 eCommerce social media analytics tips to maximize data

If you’re wondering how to start your e-commerce website and boost your social media performance, look no further. Whether you’re not satisfied with your social media marketing campaign or you’re not seeing high demand for your products or services, read on for 5 tips to boost your performance.

eCommerce social media analytics

When you’re collecting data or information from stakeholders’ conversations on social media, and processing that information, you’re engaging in social media analytics for e-commerce. The data is collected than processed into actionable insights that businesses can use to make information-driven decisions. The goal of this process is for companies to put the focus back on their customers and what matters to them.

Why does it matter?

Analytics allow businesses to see and track how their social media campaign is performing compared to its objectives. By using social media analytics, companies can evaluate the effectiveness of their campaigns and improve them as needed. Social media analytics will guide companies about which activities need more focus and which are successful. It’s possible you may not even know where to start with your analytics, and how to find the right information on social media. If that’s the case, you can’t be expected to take good, data-driven decisions and you might make the wrong ones.

If that’s the case, don’t be frustrated or discouraged. It’s relatively easy to learn how to leverage social media analytics for your business. Read on for the top 5 tips for improving your social media performance using analytics.

#1 Choosing software and tools

The good news is that there are a lot of options out there for software and tools to use for social media analytics. Some are free while others have more specific features and will charge you to use them.

Google Analytics

This is a free social media analytics tool that has a surprising number of useful features, like social media conversions, the ability to monitor traffic from certain social media platforms, real time traffic, a social media dashboard, and much more.

Agorapulse

This social media analytics tool will help you track the best date and time to publish your content, some great report creation features, including analytics for Twitter, Facebook, and Instagram, response time analytics for replies, and statistics on how many links are clicked, the mentions, engagement, and more.

SoTrender

This tool is one of the paid options, of 50$ a month, although it has a 14-day free trial so you can find out if it’s right for you. This tool has workflow management, identifies the most productive content, look at conversations and how engaged your audience is, as well as industry and competition tracking. It has customizable reports, support for numerous platforms, and more.

There are a lot more tools and software options out there, each with their pros and cons. If you choose a paid version, make sure you try a free trial to make sure it’s the right option for your needs.

#2 Tracking social media

It’s easy to use Google Analytics for social media performance tracking. To do it, set your SMART goals (Specific, Measurable, Attainable, Relevant, and Timely). Then, install Google Analytics or the social media analytic tool of your choice on your computer.

If you’re using Google Analytics, consider also adding Google Tag Manager to organize all your data. Then, you set up your analytics tag and add your goals to Google Analytics. Your dashboard will show all the goals and you can monitor how you’re doing based on the key performance indicators of your website.

#3 Find the important data

At this stage, you must prioritize the data that you receive through your social media analytics tool. Your e-commerce business is separate from your competitors so you need to know what data is important for you and will help you achieve your goals.

Some metrics and data you collect can be set aside for now. You should be focusing on the follower growth, the click-through rates, the engagement identification time, and audience demographics. These are the key data that you need to be aware of during any social media campaign you’re running.

#4 Analytics results presentation

The social media analytics results can’t simply be thrown into an Excel spreadsheet and the job done. You need to actually present the information you’ve collected and analyzed in a visually appealing way so any user can understand the information presented and can read the key takeaways very quickly.

The report should also be showing the data you collected which allowed you to get the conclusions you did. These reports are quite easy to produce, by searching for free social media report templates online.

#5 Taking action

Once all the data is collected, analyzed, and prepared in a report, it’s time to take action. If your data is showing you that your content is not as strong as your competitors because it gets fewer shares and likes, you will have to revaluate your content creation strategy. If your data is showing that your competitors reach a bigger audience than you, then you need to update your social media marketing campaign to expand your reach. Remember that any goals you set must be SMART to be as effective as possible.

The data you obtain will help you not only increase your sales and revenue, but you can also become more efficient and spend less on your campaigns. By tracking your data, you can improve the results that you get from your social media campaigns. If you’re not tracking your data, your marketing efforts will be wasted, and your company won’t be able to improve.

Summary

E-commerce social media analytics can help you get better results. These tools are available, and free if you’re on a budget. If you want your business to do well, then a social media analytics software can help you improve and potentially surpass your competitors.

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