Why Analytics are Important to Your Business

Do you use analytics to measure success for your brand?

The social media train has left the station, ladies and gentleman. Are you on board? Either your brand is actively using social media and cruising along the Digital Sphere North, or pretty much, you’re left behind on the station’s platform, alone and confused. Yes, social media has become a norm in growing your brand’s business; but how do you know if you’ve succeeded? What does success look like?  Defining your company’s goals is essential for figuring out your personal secret sauce for success.  Finally, monitoring your analytics is the key to determining if you’ve met your goals, which in turn, defines your success.

The question isn’t where to go to measure general analytical trends (Google Analytics or Basic HootSuite are solid options), but how to efficiently use these analytical tools. Creating your brand page is the simple part, but when it comes to execution, many businesses end up stuck and regretting their decision to use social media in the first place.

Analytics are extremely important to determining success via numbers. When said and done, it comes down to how many people are actually noticing your brand and taking action through engagement. For instance, why take the time and effort to create a social campaign without determining if it’s worth your while. Analytics keep track of how far your initiatives go and what demographics are being reached. This helps brands further understand their target audiences and can tailor marketing campaigns/promotions accordingly.

Social media takes time and in some cases, money (hiring a consultant, spending for online advertising, etc.) and marketers wonder when they will finally see money coming in from their digital efforts. Analytics can also help with raking in the dough. Building relationships take time, as does establishing trust and gaining credibility in your industry. However, keeping track of the patterns of your users interactions with your brand can shed light into creating successful campaigns and contests. Continue these smart marketing practices, and you’ll soon likely see a return on investment through partnerships, buyouts, deals, new customers/clients, etc.

Do you think analytics are important to a brand’s social success? Why or why not? Let us know and comment below!