Business Development & Marketing Finance General Rescue, Restructuring & Recovery

What data is available for businesses from Facebook?

We continue our look at social media and the importance of checking on how it is performing for your business and now turn our attention to Facebook.
While originally Facebook was set up for online social use it has increasingly become a marketing platform for businesses and in particular online retail.
When looking at the results of any business marketing carried out on a Facebook business page it is important to keep in mind your customer profile and location.

How to find Facebook analytical information

Facebook SS1You must be logged in to see the information and you need to be on the business page.
Facebook analytics are called “insights” and they can be accessed by clicking on the link in the white menu bar at the top of the business page. All the information is given in visual and numerical form making it easy to follow what has been happening on the page.
The first option is an Overview, which covers the last seven days, although this can be re-set to show the last 28 days.
facebook posts performanceThe Overview will show the reach, which is the number of people to whom your posts have been distributed.  It also shows the performance of the five most recent posts on the page, giving the reach and interaction (the number of people who have engaged with each post) for each.
If you have added pages to watch, perhaps of your competitors, the Overview will show the total page likes, number of posts and engagements and the percentage change, either positive or negative for each watched page.
The Overview gives a snapshot of performance over the chosen period.
Having gained an impression it is possible to look in more depth at the reach, page views, actions on page, posts, people (by age and gender) and if the business page has been set up as a local business the local analytics provide more in-depth information about hourly, weekly and overall behaviour of people following the business page who are within 50 miles of the business.
It also gives information about the age and gender of the people who have visited your page and what time of day they did so.

Using the information

It is worth remembering that insights are a snapshot of behaviour for seven or 28 days back from the day on which you are looking and therefore to pick up any trends it will be necessary to revisit insights regularly.  How to use the information to adjust marketing activity will be the subject of a future blog.

Business Development & Marketing General Rescue, Restructuring & Recovery Turnaround

Use Twitter data to improve your marketing

Twitter offers valuable insights into your customers and their behaviour which can in turn be used to improve the way you engage with them.
It is important to understand the information available in Twitter analytics and what it is telling you. While there is a lot of data, like financial information, marketing information can be distilled into some key reports that are easy to monitor.
The data can be used to make adjustments to your marketing strategy and then check whether the new initiatives work. While others may implement your marketing strategy, you need to oversee the relationship with your customers.
Your involvement is important because you understand your business from the inside and in depth. Your marketing people may understand how to use Twitter and other social media tools to best advantage but they cannot hope to know your business in the way that you do.
Good communication is therefore essential in order to have a constructive conversation about your social media marketing strategy and in particular the tools like Twitter.

Talk to your marketing experts

screen shot of Twitter dataHaving looked at your Twitter analytics, you will have some idea of what posts have been most successful and those that have been less so. You might check timings and what impact they had on orders or follow up action by checking other reports. What are the factors that may have influenced these results?  Is it to do with the time of posting, the wording, the topic, use of visuals and hashtags? The answers to these questions are something your marketing experts should be able to help with.
Another thing to check is who have been your top Twitter followers each month and investigate further whether any of them are important influencers in your industry.
Another consideration is whether a particular geographic area is important to your business. If so, then it may be useful to adjust your Twitter settings so that you can monitor what is happening in that area that may be relevant to your business.
You can also use to identify the most active Twitter users in your chosen geographic area.  If your Twitter activity can help you connect with these people they are potential advocates for your brand.
Refining your activity is going to take time, patience, subtlety and regular monitoring.  It is not something busy managers or CEOs will have the time or perhaps the skill to do for themselves.
However, understanding the basics of the analytics data will help to facilitate a more productive conversation about strategy development with those responsible for carrying out your social media marketing.

Business Development & Marketing Cash Flow & Forecasting General Turnaround

Effective social media strategies need analysis

The use of various social media platforms is becoming established as a part of a business marketing strategy in the 21stCentury.
But how many businesses use data to monitor the results of their efforts, to check it is working and then to use the feedback to modify their activity?
We recently asked delegates at a business conference how many of them had ever seen Twitter or Google Analytics and were staggered when from an audience of around 120 senior executives only one put up their hand.  Yet in a global marketplace the digital world is crucial to successful business.
Over the next few weeks we will be looking at the data you can collect from Twitter, Google and Facebook and how you might use it.

First, finding Twitter analytics

an image showing Twitter analyticsIf your business has a Twitter account you can use it to login to to find the data collected on your activity, known as Analytics.
You can also access analytics direct from Twitter by clicking on logo picture top right then select Analytics from the drop down menu.
You will find:
Home – a month by month summary and a last 28 day summary.
Tweets – a tweet by tweet summary of engagements, which is how many people have acted (commented/liked or shared your tweets) and reach, which is how many people your tweets have been sent to.  Top tweets help you identify what works and what doesn’t.
Audience – you can review your audiences’ interests and compare to other audiences. Top mentions help you find out who your fans are, who is promoting your business, who to thank.
You can change the date range if you want to look at how a particular set of tweets has worked.
If your business runs its own campaigns in-house rather than using a social media marketing expert this information is essential to assessing how effectively you are communicating.
Once you have collected the information the next step is analysing whether or not what you have been doing has achieved the results you had hoped for and if not deciding how to alter your activity so that it performs better.  That’s the subject for another blog.
For the moment it is worth just looking at the rich data available and considering how it might benefit you and your business. Should any of it become one of your KPIs?