Social media, the best known catalyst to a business is indeed one great tool that can give your business wings and that can help your start-up achieve your annual goals. But how does social media actually influence your work and your business? Well, that’s what we’re here to figure out.
Basically, social media provides you with different kinds of business metrics, both dynamic and traditional that help you achieve your goals and analyse the progression of your business. Not only that, social media makes the work of business analysts and data scientists a lot more easier by providing quality and credible metrics that can be measured, stored and analysed very easily.
Let’s take a sneaky-peak into some of the most amazing social media practices breathing in the digital world of today:
- Social Media Posts and Link tracking Metrics: Organisations do various kinds of posts on social media platforms like Facebook and twitter, highlighting various aspects of their services and guiding the customer to a link that will help them buy that particular product. Many organisations provide link to their home page, while some do so for their most famous products via landing pages. Now, how does it matter? A start-up like any other would like to advertise all of their products at once, so they’d give links to their home page for the customer to explore all the products, because they are short on sales on all the products at start.On the other hand, big companies would want to sell a specific product, and they’d advertise for only specific links. But if things get reversed, the business might not run as sweet as you’d want it to.Metric Associated:
Link Traffic: Analyse the traffic of each and every social media link and analyse which social media platform provides maximum amount of traffic. It’s worthless to advertise on Twitter if you get a traffic rate of less than 0.1%. But, if you get it above 1%, you can improve it. So this metrics helps us identify your position at each social media platform and relative scope for improvement.
- Search Engine Optimization and Clickstream Data Collection: What is SEO? Well, it’s simply optimising the third-party links (called organic links) and also optimising unpaid advertisements like blog links in order to ensure maximum clicks on the links. It also involves pursuing authors, bloggers and other customers to post about their services in order to ensure even better traffic.One of the most amazing tricks that is undertaken these days is organising a competition which involves only posting about the product with a unique hashtag. These competitions have a nominal prize, but the outcome traffic compensates all the money that went into the competition.Metric Associated:
Click Stream Data and many more: For those who are still thinking how Amazon leads the digital company market, here’s the reason. Amazon simply tracks the movement of its users on social media and the site itself. How many times does a person hover over the link, how many times does the customer had to refresh the page, the actual page loading time, the percentage of customers that actually fill up a cart after receiving the link and How many make a purchase? This is just one part of the amazing duo strategy of Amazon.
- Post Quality and Unique advertisement: Let’s cover this topic briefly. Here’s are the basic pointers to achieve best quality posts: Adjacent Content (relevancy to the people shown, like an advertisement for selling a boat would not be relevant to North Indian residents), a conversational tone, sharing non-promotional information like company’s volunteer work and donations to orphanages, formal memes and limited jokes.
- Testing of Offers and Discounts: Test your offers and your skills using one of the many social media websites available at your disposal. You may come up with new promotions and see how people react to it. Again, tracking clickstream data and analysing customer activity is important here. If customers come to the site, but then turn back, then there’s a piece of the jigsaw puzzle missing. Probably, the site is not mobile friendly or is too heavy to be loaded swiftly.
- Social Campaigning and Community Building: It’s a great way to build your social media market around your business objectives in a very social setting so that you get support from a wider audience. This might involve buying AdWords and Bing Ads or targeting an audience that has not shown interest in your product, even though there is a potential customer in them. This is also called ‘Targeting the Sales Funnel’.
Well, in such a day and age where everyone has a virtual presence online, indulging in comprehensive social media marketing is a foregone conclusion.