For Subscribers

Social Analytics: How Necessary Are They?

Our resident 'geek' tells us if social media analytics add up to business success.

learn more about Mikal E. Belicove

By Mikal E. Belicove

Opinions expressed by Entrepreneur contributors are their own.

Q: Do better social media analytics really help?

A: There's an ever-growing range of companies offering an array of social media analytics tools, from entry-level platforms such as Hootsuite and Sprout Social to sophisticated stand-alone products like Socialbakers and Radian6.

All of these products use an API to capture data—the exact same data already available to you and your business for free from Facebook Insights, Twitter Analytics and many other social media networks. The only differences between the native analytics and the more sophisticated—and expensive—options are the interface and the math used to calculate ambiguous metrics like "potential reach" and "engagement."

Continue reading this article — and all of our other premium content with Entrepreneur+

For just $5, you can get unlimited access to all Entrepreneur’s premium content. You’ll find:

  • Digestible insight on how to be a better entrepreneur and leader
  • Lessons for starting and growing a business from our expert network of CEOs and founders
  • Meaningful content to help you make sharper decisions
  • Business and life hacks to help you stay ahead of the curve

Related Topics

Editor's Pick

The Dark Side of Pay Transparency — And What to Do If You Find Out You're Being Underpaid
Thinking of a Career Change? Here Are 4 Steps You Can Take to Get There.
A Founder Who Bootstrapped Her Jewelry Business With Just $1,000 Now Sees 7-Figure Revenue Because She Knew Something About Her Customers Nobody Else Did
Everything You Need to Know About Franchise Law
Business News

Amazon Is Starting to Let Customers Know What Products Are Returned Often

The e-commerce giant has begun flagging certain items that were frequently sent back.

Business News

'I Don't Feel Like It's Unreasonable': A-List Actor Refused Service At Hotspot For Not Following Dress Code

Academy Award-winning actor Russell Crowe had quite the afternoon after trying to stop at a Japanese steakhouse in Melbourne, Australia following a game of tennis.

Business News

'You Didn't Even Try': Aldi UK Ripped Online For Accidental NSFW Candy Shape

The marshmallow "Bunnies and Chicks" rolled out to stores just in time for the Easter holiday.

Money & Finance

Everything You Need to Know About Filing Your Taxes 2023

Tax Day is rapidly approaching. Here's everything you need to know before April 18.