July 26, 2019
Analyzing data may not be thrilling, but it is a vital part of your brand storytelling journey. You really can’t make informed marketing decisions without access to analytics.
So, what exactly is analytics? Analytics is the discovery, interpretation, and communication of meaningful patterns in data or statistics. It is the process of studying past data to research potential trends, to analyze the effects of certain decisions, and to evaluate the performance of your platform. Analytics can help you understand your audience better, create content ideas for your niche market, and prove if your current techniques are successful or not.
With the popularity of social media, most businesses are taking advantage of the opportunity to reach their audiences on multiple platforms like Facebook, Twitter, and LinkedIn. A majority of businesses are using social media as their main platform for advertising their products or services since 79 percent of the U.S. population has at least one social networking profile. According to statista.com, this equates to approximately 247 million U.S. social media users in 2019.
There are many advantages to understanding social media analytics. For instance, you can pinpoint user demographics, customer engagement, and traffic on websites. Another is the ability to identify your marketing plans strengths and challenges. Understanding the analytics of your Facebook post for example, can help you determine which posts are performing the best. This can help you create stronger, more engaging posts that are relevant to your audience.
The goal of understanding marketing analytics is to improve business by gaining knowledge, which can be used to make improvements to your marketing strategy and your marketing budget. Smart companies understand the value of using analytics to interpret their audience, industry, and even their employees better than ever before.
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CATEGORIES: Marketing Tips