3 Ways To Leverage Competitive Data

Data is only valuable with context. It’s important to benchmark against your own performance, but benchmarking against competitors takes your marketing strategy to another level. Competitive data opens up opportunities. It helps brands understand industry benchmarks, set tangible goals, identify strategies for growth, prove ROI and so much more.

In this report, you’ll learn the best ways to leverage ListenFirst’s curated universes – made up of hundreds of thousands of brands – to strengthen your social strategy.

The Key to Partnership & Influencer Success: Identifying The Metrics That Matter

Influencers, ad partners, and TikTok creators. Third party partners play an increasingly crucial role when it comes to introducing your brand to new audiences. Because these partnerships can be so impactful, finding the perfect match and identifying the appropriate KPI’s requires strategy.

If your brand is investing in marketing partnerships, watch ListenFirst experts Meghan Cahill, SVP of Client Experience, and Devin Carroll, Director of Revenue Strategy, for this on-demand webinar. Meghan and Devin will show you how to leverage the relevant data points and track meaningful metrics when marketing with third-party brands. 

Top 5 Social Media Trends Driving Brand Engagement

Get an inside view of what social media marketing strategies are paying off for brands across industries. ListenFirst analyzes the social media performance of hundreds of thousands of brands. From engagement metrics to competitive benchmarking, we see it all!

Hear from ListenFirst experts Meghan Cahill, SVP of Client Experience, and Devin Carroll, Director of Revenue Strategy. Meghan and Devin will break down the latest marketing trends that are driving engagement on social media.

Optimizing Sports-Related Sponsored Content On Social

When a brand wants the biggest, broadest TV audience, the solution is often advertising during live sports. For the same reason, the social media accounts of sports leagues and individual teams is some of the most valuable real estate for sponsored content on social media.

Sports fanbases are loyal and extremely engaged, and paid partnerships with the most popular leagues and teams often means brand messaging is seen by a far wider audience than through owned organic posts.

For the following report, ListenFirst analyzed the sponsored content posts of the MLB, NHL, MLS, NBA, and NFL at both the league and team level between July 2020 – June 2021 to determine the tactics and best practices that are most effective for brands around these paid partnership posts.

Going Beyond Social Listening

Social media listening is a great way to measure the conversations happening and to analyze the sentiment around your brand. However, with listening alone, you’re only hearing from the vocal minority.

The majority of your consumers are not the ones making noise. They’re busy living their lives and showing you how they feel by click-based engagement with your post.

In this report, we’ll share why social listening isn’t enough and why analytics is critical so you can focus on the data that really matters to help grow your business.

3 Steps to Effectively Measure Your Social Media Efforts

According to the 2020 CMO Survey, only 30% of CMOs believed they could prove the impact of social media efforts quantitatively.

So if you find it challenging to prove the value of your social media campaigns, you’re not alone. The key to successfully measuring the impact of your social media efforts hinges on leveraging social media analytics.

At ListenFirst we’ve helped leading brands across the world determine their most relevant KPIs. We’ve learned a thing or two over the years and have a few tips to get you on the right track.

There are three critical steps to ensuring you have the right elements in place to measure your social media marketing program effectively. You’ll find the steps below, along with tips to get you started. 

Identify the metrics that align with your business goals.

When it comes to setting KPIs that will have an impact, less is more. 

Start with your business goals. How do those translate into social metrics or outcomes? For example:

  • Do you want to grow awareness? Consider metrics related to audience growth. 
  • Are you set on increasing brand affinity and loyalty? Review engagement rates. 
  • Is brand love your focus? Look at social sentiment.

Follow a thoughtful process when determining the metrics that are important to your business. 

Use social media analytics to set realistic benchmarks.

It’s critical to outline your goals and do industry research prior to determining the most logical KPIs for your brand. 

Of course, you want to look at historical trends for your brand as well as for your competitors. But there’s also a lot to gain from reviewing other aspirational brands who’ve accomplished what you are after. Even if the brand is not a player in your industry, validate that what they’re doing is something that may have translated to their success. 

Then ask yourself what’s a reasonable expectation for your brand based on the historical data and performance across other brands?

Download our report How to Maximize Social Media Analytics for more details on how to identify the metrics that matter. 

Track your KPIs frequently

Reporting is key. Once you have your KPIs set, you have to constantly track them. 

Reporting that allows you to see all of your cross-channel data in one view is essential. You’ll also want to set up reporting that will allow you to see the most important metrics, including your benchmarks and historical trends, at a glance.

Dashboards are a great way to communicate the story the data is telling to your key stakeholders. ListenFirst recently added configurable dashboards to the platform, giving users the opportunity to build a series of dashboards to best match their team’s goals.

Read more about configurable dashboards.  

If you’re like most brands and increasing your investments in social media, be sure you have a plan in place to know if you’re moving the dial. Follow these three important steps and let us know how we can help along the way.