What is Social Media Analytics?
Social media analytics is the process of the collection, organization, and analysis of online social data. They can use this information to assess what content resonates with users and what messaging strategies are performing well for a company or brand. Many tools available can provide insight into how well your company is doing, including Google Analytics and Hootsuite Insights.
NetbaseQuid is a company that provides social analytic tools for marketers and publishers. They can provide detailed data about everything from your company’s Facebook page, Twitter account, YouTube account, and Google Analytics. They also have a suite of reports that can track actions from users on your site with unique features such as an “algorithmic vector score” to indicate the level at which your audience appreciates a post.
7 Ways How Companies Can Use Social Media Analytics to Make Marketing Decisions
1. Data-Driven Content and Message Selection
A comparative analysis of a company’s internal performance metrics can optimize content and message selection. For example, suppose a fictional firm aimed to increase brand awareness by reviewing the performance of the previous period’s posts. In that case, they could determine that Facebook is not the optimal platform for that goal, and Twitter is.
2. Monitoring, Brand Analysis, and Engagement
Many social media analytics platforms, like NetBase, have features that can measure the impact of a company’s active social media presence. For example, Netbase automatically provides a sentiment analysis score for your company’s Twitter account. This score is based on how users feel about your brand. In addition, they provide insight into how you are doing relative to your competitors by providing an analysis of other organizations in your industry.
3. Examining Top Performers and Brands
Many social media analytics platforms, like NetBase, can compare organizations’ performance. By comparing companies that perform best with each other, trends and insights can be obtained as to how effective your campaigns are as a whole.
4. Content Optimization
By examining how well your company’s content performs on social media sites, it is possible to identify which content is most engaging for your customers. For example, one company may post a product demonstration video while another post’s updates about its activities. They can determine the best-performing content for your business by performing a comparative analysis.
5. Using Social Media as a Promotional Tool
By interacting with customers via social media sites, companies can provide valuable information about their products or services in the form of content. Frequently, these interactions result in customers sharing these messages with friends and family. As a result, the company’s reach extends beyond its current customer base.
6. Social Media Monitoring
Many social media analytics platforms offer the ability to monitor your brand online by producing reports that track social media comments about you or your company. It can help identify new trends about your company or respond to negative comments to mitigate any potential damage from negative publicity.
7. Advertising Attribution
Companies can measure the effects of their advertising campaigns by examining the response in terms of online brand mentions and user engagements. By monitoring social media sites, firms can identify the most influential users who are providing answers to their advertisements and content.
Media analytics is the new frontier and provides an excellent opportunity for companies to understand how well their strategies work. Marketers can use this information to decide their content, message selection, and platform choice. In order for this data to be most effective, however, it must be used as a tool and not as an end in itself.