The Essence of Social Media Analysis in Business
98% of businesses believe that exposure is the key benefit of social media, according to social media examiner. Social media is a great platform to understand the needs, sentiments, intentions, and choices of customers. Social media analysis helps businesses to understand their customers on an emotional level and in turn, tailor-make their marketing and customer service. It forms a basis in which enterprises can maximize customer experience, execute targeted engagements such as one-to-one or one-to-many, and enhance social collaboration. By implementing social media analysis, you can learn from your customers, improve your products and services, and gain a competitive advantage by providing better products and services.
The Key Metrics to analyze In a Social Media Audit
Enterprises must monitor and evaluate the effectiveness of their social media marketing strategies. Social media analysis presents a couple of aspects you can evaluate. You must decide which data you would like to track, then create a spreadsheet for this data. This will help you track and compare past audits, present, and future audits. The key metrics you should analyze are:
The Impressions Metric
This is the number of individuals who have viewed or reacted to your social media posts. Scrutinize all the social media networks you are auditing and record the impressions on your social media analytics spreadsheet. Your impressions might increase or decrease depending on the number of postings you make. Therefore, it is better to maintain a constant amount of updates monthly to enhance the accuracy of your audit.
View Mentions and Sentiments
Mentions refer to the frequency at which other users of social media tag or react to your social media page, or write on it. Monitoring this metric helps to assess the overall reputation of your brand. Use a social media listening tool to increase the accuracy of your results. A brilliant example would be Brand24.
Review Clicks and Traffic
Clicks influence traffic, so it is crucial to monitor your customer’s level of engagement. Tracking your website’s clicks is a brilliant strategy to do this. It keeps you posted on the overall customers’ engagement. However, not every click will result in traffic. If the difference between the clicks and traffic is substantial, it is an indication that something is wrong with your site- it could be the loading time.
An increase in followers and impressions should translate to an increase in engagement. An increase in impressions and followers does not mean much if it does not influence customer engagement. A good amount of retweets, likes, comments, and repins is a good indication that your content is appealing to customers.
Choosing Social Media Analysis Software
You will need to use several types of tools and platforms to monitor your social media analysis efficiently. The software you choose to use should provide options for integration, features such as filtering and query creation options, identify the scale of your needs and the purpose. Determining what you want the software to do will make it easier to select the best features and price.
A software company like NetBase focuses on social intelligence and media analysis, which companies can utilize to analyze, engage, monitor, and publish with their clients in real-time. The company uses a top-accuracy natural language processing (NLP) engine to process social media publications and produce structured insights that are delivered through customizable dashboards. The beauty of NetBase is that it offers a platform where enterprises can build businesses, connect with customers, and run brands. Companies can also process data for daily uses, such as customer service, research, sales, public relations, marketing, and many more.
Businesses that know the vitality of social media analysis, take time to understand it, and come up with an approach that works best for them reaps its benefits immensely.