Most social media tools provide some level of analytics, and basic integrated reporting is a must. There are some specialty tools specifically designed to track and analyze social data. Some like SocialBro are focused on a single platform like Twitter. Others like Simply Measured are capable of providing a complete snapshot of social data from a variety of different platforms.
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Social media analytics tools help marketers track, analyze and improve the performance of their social media activities. The goal is often to determine the ROI of social activities, justify spend, or optimize performance.
Common uses of social media analytics tools include:
There are a variety of point solutions focused on social media analytics. Analytics is also a key capability of social media management suites. Social media monitoring tools focus on listening for your brand or other relevant terms on social media and analyzing the sentiment.
Many companies use more than one tool for social media analytics.
Social media analytics tools can be defined by the metrics with which it can help you track. Key metrics that any social media analytics tool should cover include:
In addition to the above metrics, social media analytics tools should help you with market research initiatives, content strategy, competitive intelligence, and customer satisfaction. Most importantly, social media analytics tools help marketers connect the dots between the performance of their content to better suit their audience and respond to market changes faster.
When on the market for a social media analytics tool, consider the following factors when comparing products:
Social networks are notoriously protective of their APIs. Make sure the tool you select has integrations to the social media sites that matter to you. If you are focused on a single social network, consider the 1st-party analytics tools offered by the network itself before you buy something.
Historical data about you and your competitors is vital for trend analysis. If you’re a first-time buyer, ask what data the vendor has been tracking. It’s possible they already have some historical data you can use.
Social media management platforms combine publishing, monitoring and analytics capabilities. There are benefits to an integrated suite. On the other hand, dedicated analytics tools may have more innovative ways to visualize data.
Some social media analytics tools focus on tracking earned or organic social activities. Not all paid campaign tracking. If you want to report on paid and organic social media, try to select a tool that can do this in the same dashboard.
Start a Social Media Analytics tools comparison
There are a variety of popular free social media analytics tools. Some focus on a single social network. Others are cross-platform.
Many social media analytics vendors offer basic free versions of the tool, as well as paid options with more features. Pricing for point solutions seems to range from $19/month up to hundreds per month for more sophisticated capabilities.