Blog - Your Guide to Social Media

Your Guide to Social Media

 A GUIDE TO SOCIAL MEDIA AND WHY IT IS IMPORTANT?

Your social media presence is extremely vital to create awareness for your brand. As per the report by Kepios around 4.76 billion, people used social media by January 2023, which is equivalent to 59.4 per cent of the total global population. With more than half of the population being on social media, it has become clear that businesses can no more overlook the importance of social media. If you are looking to build a thriving presence on Social Media, here are a few important aspects you need to gain insights into 
 

Research

Research is the foundation upon which whole social media success rests. Right from researching the best platform to researching the target audience to competitor research, every aspect of research plays a crucial role in driving social media success. For instance, for B2C, Instagram and Facebook are considered to be ideal social media platforms as they belong to generation X and millennials. Whether it is brand awareness or brand engagement, these two platforms can help you achieve your social media goals with the right strategy and consistency. As far as B2B is concerned, LinkedIn is considered to be ideal. It is the only platform where the audience is clearly defined - working professionals and high-net-worth individuals looking to network or seeking new opportunities. Research is indeed the key to driving success related to A/B testing in case you are not sure about the right social media platform. 

Competitor Analysis

Competitor analysis through using the SWOT analysis technique is crucial not merely from the perspective of identifying their strength and weakness but understanding the gaps in their offerings for you to improve your offerings. This in turn helps you to serve your target audience better and boost profitability. Competitor analysis imparts you ideas about the best time to post on social media by helping you gain insights into the time when your customers are most active on social media. It also provides insight into understanding the customers' pain points, giving new ideas for your content that resonate well with your customer, ways to differentiate your brand and understanding how to communicate on a specific platform.  
 

Track social media ROI

Social media indeed generates ROI. It measures ROI, allows you to understand the outcome of your efforts, and helps you refine strategies over time to improve returns while you keep learning. To increase your ROI, you can leverage A/B testing by experimenting with different audience segments and ad formats. You can tweak your posts and ad to see which works best for you. Knowing which strategies to use for each social audience is the best way to increase ROI. The second strategy to boost Social media ROI is to stay updated with the latest social media trends as Social media is ever-evolving. The strategies, content and channels you use to connect with your audience might not be relevant forever. You need to update yourself with the latest trends on social media. Therefore social listening is crucial to change the perceived values of various platforms. 
 

Social Media Metrics to Track          

It helps to determine whether the social media metrics are working for you and whether they impact your overall business. You would not know the impact of your presence until you have data to tell you about your business. All metrics have some meaning attached to them and interpreting what the metrics tell you and using it for your business goals is what is required.

Some of the social media metrics are-

1. Engagement- Tracking how actively your audiences are involved with your content and how productive your campaigns include likes, comments, shares and clicks.

2. Awareness- Impressions and reach are important metrics to track if your goal is brand perception and awareness.

3. Sentiment- It is all about how your audience reacts to your content. What type of emotion do they associate with your brand or post? It is essential to know how people talk and feel about your brand.
 

4. Hashtag performance- Hashtags that were most used and most associated with a particular brand, understanding can help to perform well with your content.
 

Active Customer Care
Focusing on brand performance on social media is an added benefit, but what about customer experience with the brand? It is good to take note of your customer's problems in a reasonable amount of time. Here is where metrics like response rate and response time come into play. It helps track how fast brands respond.
 

The Bottom Line

The social media guide is indeed a set of rules that you need to pursue to optimize ROI. The aforesaid mentioned aspects help you gain insights into a 360-degree view of your social media performance. With time you can modify your social media goals by leveraging the refined metrics to make them more relevant to your business.