For marketers, there’s no question that trying to assess social media ROI can often feel like an overwhelming task. For sure there’s value in the medium, for instance a study Forbes published in 2018 found that of over 600 senior marketers, 39% saw at least medium ROI from their organic social posts with 20% of marketers saying they received the highest ROI from organic social media posts.
However, the unfortunate truth is that getting to the point that your brand is properly optimizing for social ROI, in most cases just takes too much time. For example, a 2018 Gartner Analytics survey of marketing leaders found that nearly half of their experienced analysts and data scientists spend more time preparing data than actually analyzing it.
Luckily, that’s where social media analytics software like ListenFirst can help. Here are three key ways that working with an enterprise social media solution that’s as comprehensive as ListenFirst can not only improve social ROI, but will save a huge amount of time as well.
Time Saving Tip #1: Avoid Working With Multiple Venders
Working with more than one social media analytics tool is a little like going on the world’s most tedious scavenger hunt. Getting the first data point from one vendor and then searching to see if another vendor can provide a missing metric is both inefficient, time consuming, and cost prohibitive. If you’re not getting all of your social media analysis needs met by a single vendor, find a social media analysis tool that will provide all the data you’re looking for.
Time Saving Tip #2: Use A Social Media Analytics Solution With Cross-Platform Data Sets
For marketing professions, determining Instagram ROI, Facebook ROI, and YouTube ROI are not siloed objectives. Those are different marketing channels promoting the same campaigns and it’s important that brands be able to get social media analysis at the campaign level, as opposed to looking up Instagram analytics and Facebook performance on separate platforms.
ListenFirst offers social media analysis that is gives you a bird’s eye view of all of your social media account at once, which distills cross-platform information, often into a single, inherently time saving data point. For example, ListenFirst’s Fan Growth Score combines new Facebook likes, new Instagram followers, new Tumblr followers, new Twitter Followers, and new YouTube subscribers into one metric.
With ListenFirst, the Instagram analytics tool is also the Twitter analytics tool.
Time Saving Tip #3: Find Turnkey Social Media Benchmarks
A big part of determining social media ROI is evaluating performance compared to competitors, but manually tracking all the brands in your industry, let alone cross-industry insights would be near impossible. That’s where the right social media measurement tools can help. ListenFirst tracks all the public social signals for more than 150K brands on social media, and clients can instantly see how their performance ranks relative to any other group of brands.
Additionally with the new ListenFirst Content Benchmarking feature, brands that opt in can also see social media data analytics about how their own and paid social media content performs relative to industry averages, yet another one click time saving capability that helps evaluate social ROI.
Conclusion: As the old idiom Time Is Money reinforces, a big part of optimizing social media ROI is partnering with a social media analytics tool that connects your brand with the needed information faster. Through having all the required social media analytics metrics in one platform, also featured in cross-platform data sets, and offering several innovative social media benchmarks to enable competitive research, ListenFirst proves brands with the quickest, most efficient social media analysis.