Social networks provide companies with a lot of data that can be retrieved, either internally by the digital marketing manager, or by an agency or an independent community manager. Whatever the chosen solution, this information must be the subject of a precise analysis in order to orient in a relevant way the Social Media strategy, today essential to the development of an active and committed audience.
The processing of this data requires the definition and monitoring of performance indicators, also called KPIs. They make it possible to measure the effectiveness of the actions deployed, to observe the evolution of the campaigns and to adjust the strategy accordingly. To make them readable to decision-makers and thus justify the choices made, it is essential to present them in visual and clear reports, specially designed for social networks.
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What is a social media report?
A social media report is a document that brings together the data of a social media strategy in a clear form in order to follow their progress. This tool is very effective in knowing if the strategy used is the right one to achieve the objectives set upstream.
The periodicity of the report can be daily, weekly or correspond to the duration of the current campaign. The ideal is still to establish a monthly report containing enough data to justify the decisions taken and to change course quickly if the need arises.
Reporting is essential for measuring the performance of the campaigns launched, detecting the audience’s favorite content and evaluating the effectiveness of the actions carried out.
Which KPIs are relevant for social media reporting?
KPIs are performance indicators that allow you to assess the efforts made in relation to the objectives set. They can vary according to the campaigns carried out and the first work to accomplish is therefore to define them. Once this task has been completed, it is necessary to follow their progress using various tools such as the HubSpot social network tool, Google Analytics, Facebook Insights, or the analysis tools integrated into the various networks.
Here are the most common metrics to consider for a good understanding of social media results.
The number of subscribers or fans
The number of subscribers indicates the number of people who follow the brand on the various social networks. This KPI allows you to know how many people have chosen to subscribe to a company page in order to follow its news and publications. It is therefore an essential indicator, although sometimes misleading: many users subscribe, but ultimately do not consult the content broadcast, for lack of interest or presence on social networks. They therefore do not create strong links with the brand.
How many subscribers should I have? Since numbers vary by industry, it’s a good idea to run a benchmark to gauge the number of competitors’ subscribers. For example, if a page has 2,000 subscribers on LinkedIn and this figure rises to more than 10,000 among those offering the same type of content, this shows that the strategy employed is not performing well. The room for improvement is enormous and effective actions must be defined and implemented. This can go through a complete audit of the publications offered by competitors: it is an excellent way to understand what type of content encourages the target to subscribe.
The engagement rate of your audience
Clicks, shares, views, reach, and likes are important metrics that should be considered together rather than individually. Engagement rate is calculated by dividing the number of likes, comments and shares of posts by the number of followers and multiplying the result by 100.
This is a very effective method to compare publications and to understand which products and content are of most interest to the target.
On social networks, trends are changing very quickly. To stay in the race and even anticipate new concepts, social network managers must carry out regular monitoring work. For this, they must follow the hashtags that correspond to their brand, the most followed influencers and the professionals in their sector of activity. This is how they can position themselves as experts in certain circles or communities.
How to Create a Social Media Report Easily Using a Template
To present a report on social networks, it is possible to use classic software such as Excel. But filling tables manually is a tedious and time-consuming task. The result is also mediocre, because the data is difficult to read and sometimes incomplete. Analyzing the report then turns into a difficult ordeal in which no one wants to get started.
Fortunately, today there are much more suitable solutions. These are automated reporting tools, such as DashThis, that simply connect to data from their social reports to obtain clear, concise and updated documents in real time. They usually offer many report templates including various auto-generated charts and lists.
Here are the steps to follow to use this type of online solution:
1. Sign up for an automated reporting tool such as DashThis.
2. Choose a report template.
3. Connect the different accounts on social networks (Facebook, Twitter, Instagram, YouTube).
4. Customize the report as needed.
5. Send the report accompanied by an analysis and concrete recommendations. The data alone cannot constitute the report. They must be interpreted to be well understood by the hierarchy or the customers.
The automated report will then be updated daily with new data. It will therefore no longer be necessary to create a report every month.
The importance of a clear and concise presentation
Unlike Excel reports, those made on automated reporting tools present the data clearly, without superfluous details. They make them much more understandable and usable by managers and CEOs who do not necessarily have in-depth knowledge in this area.
Data is now at the center of acquisition strategies. It is therefore essential to make it accessible to anyone likely to be involved in projects, whether in terms of content creation, monitoring of indicators or strategic definition of campaigns.
Once you have the social media report in hand, how do you analyze the data?
The crucial analysis phase can be broken down into 4 steps: defining objectives, targeting KPIs, collecting data, then analyzing them.
Step 1: define the objective pursued by the company
Before starting the car, it is better to know its destination. It’s the same thing with data analysis: depending on the objective targeted by the brand, the strategy and the actions carried out will not be the same and therefore the interpretation of the results either.
For example, two companies may want to make more sales, but this intention is not detailed enough to be able to analyze their data properly. One may, for example, have no visits to their Facebook page: it is then necessary to monitor their statistics related to reach, whether organic or paid. The other may on the contrary have a lot of visits, but very few sales: in this case, it is necessary to follow its conversion rate according to the changes made at the level of the design, the UX, the message or the prices.
Step 2: Target KPIs
The work of defining KPIs stems directly from the objectives set previously. If it is necessary to create more traffic, then it is necessary to monitor the number of monthly visitors on the company page for example.
If the goal is to make more sales with abundant visitors, it is necessary to follow the conversion rate at each stage of the sales funnel, the amount of the average basket or the upsell rate.
Step 3: collect the data
This is where automation solutions like DashThis come in. They save valuable time by collecting data automatically and exhaustively. No information can therefore be forgotten.
Step 4: analyze the data
The idea here is to understand the “why” of the data collected. Each figure must be able to be rationally explained in order to be able to choose to continue or abandon the strategy used, and thus obtain constant results.
For example, if traffic is increasing, you need to understand why. This can come from a better organic reach due to the publication of regular and optimized content. But maybe it’s thanks to new links from popular sites. Finally, it may be due to a collaboration with an influencer.
It is important to understand the reasons for success or failure in order to make relevant strategic choices. The social media report helps to carry out deep thinking and find clear explanations for data fluctuations.
Creating a report on social networks is an essential job for any brand carrying out social media actions. Thanks to automation tools, it is possible to edit clear and pleasant dashboards in a few clicks. The whole difficulty lies in interpreting the figures and the resulting decisions.
To go further, download this social listening guide and discover how to set up an effective social listening project that will bring concrete results to your business.