That is the subject of an eMarketer post recently. The summary: of the social marketing professionals surveyed by Harris Poll for Hootsuite, only 38% stated that analyzing social engagement data actually mattered for their business' bottom lines. 15% of them “didn't think analyzing social media mattered at all to the bottom line."
Many marketers and all business decision makers are still struggling to define their reasons for allocating budget and staff for social marketing and to articulate the value it provides.
Here are three reasons why business leaders should be more thoughtful about analyzing their presence on social media in 2015.
1. Target Audience Optimization
Driving further awareness about your business and products in a relevant way has never been easier. With the options available on select social networks you can reach not only those with certain interests related to your business, but also the people who have already shown an interest in your business by visiting your website or, of course by joining your communities. (It’s only getting better.)
2. Consumer Insights and Leads
You can take the plethora of information received from sharing certain categories of social content with those targets and use it to optimize your messaging specific to an audience, event, or business goal. Social networks can also be a key driver of leads for your business, if relevant.
Social content can be a huge driver of sales, but moreover we all know as marketers and consumers that recommendations from family, friend, peers, and even social connections influence our purchase decisions. Social media continues to provide a unique ability to leverage the power of word of mouth (and name and face) for purchase decisions.
How do you plan to measure your social marketing efforts in 2015? Answers may be featured in a future post.