Ecommerce Analytics: Social Network Analytics Part 2
Social networking sites are providing the possibility to have some of the largest marketing audiences for ecommerce companies. Social networking platforms also have similar marketing funnels like email marketing campaigns.
The unique part of social networking sites is that each website has different abilities and content for your customers to interact with. That means your posts may not engage and interact with your audience the same on different social networking sites. Some of the most popular websites that companies are using to market are Facebook, Twitter, Pinterest, Instagram, and LinkedIn.
Having successful campaigns and marketing on social networking sites starts with studying the ecommerce market analytics and making sense of what is working and what type of content is providing the best social proof with your demographic. Furthermore, Forrester Research says that marketers who link their products to social networking sites are three times more likely to hit their goals.
There are many tools out there to help you gather ecommerce metrics and data from your social networking sites. There are many sites that offer you free scheduling services and analytics. For example, Hootsuite provides analytics about all the social networking sites that you post to from their platform. The social networking sites themselves also provide free analytics that can be useful in determining what posts are valuable and what kind of posts are working well for your demographic.
Ecommerce KPI means ecommerce Key Performance indicators are looking at the metrics that are working the best by your content. For example, Facebook gives extensive analytics that allow the companies to track page views and conversions through a pixel. They get down to the nitty gritty of social networking posts which include: Engagement, Views, Likes, Video Plays, People Reached, Impressions, Mentions, Clicks, and Profile Visits.
Compare to the rest of the Industry
Make sure to compare your results of your social networking site data to your competitors in your industry. Understanding your niche market in terms of who your clientele are is important to making more targeted posts to your audience. Targeting your posts to the industry that is working the best for your products is important to take into consideration when you are creating your marketing posts.
Click Rate and Bounce Rate
When you are tracking your social networking site content, you are tracking how users are clicking through to view your content. When you advertise your content on your social networking sites the goal of the users is to read the article that you are advertising or to view the video you posted. If your bounce rate is really high when users come to visit your website it is because they genuinely maybe only interested in the information you are providing and not your product. Remember a bounce rate is calculated if a user leaves your site without interacting with it.
Using google analytics is one of the most important tools that a marketer has in their toolbox. The most important part of google analytics is the click through Acquisition > Social > Overview and you can see how many visitors come to your site though your social networking sites. Furthermore, you can dig through your referral stats for your social networking site traffic as well.
For social networking sites there are many possibilities and options to find your right audience for your products. Using analytics is a perfect way to test out what marketing messages and images are working the best and how your audience is interacting with your content. Using the social networking sites in conjunction with google analytics is all the ecommerce metrics that you will need to make accurate decisions on your website.