Social Media Analytics refers to the analysis of data collected from social media to measure the performance of a company’s campaigns, identify trends in customer behavior, and other interesting insights. Analytics can also help determine appropriate content to improve brand awareness and increase traffic. A platform with analytics enables businesses to see which of their posts are popular, how many times they were shared, and what kind of responses they get from people.
Components of Social Media Analytics
The first component is audience analysis. This is done by looking at the behavior of a user. Different platforms offer different features, and Social Media Analytics helps companies understand which ones to use. One great example is Facebook Insights. Facebook users can check out their Likes, Photos, and messages to see how they are faring on the site.
Performance analysis refers to how businesses can optimize their social media marketing. This includes analyzing the performance of each campaign by creating measurable goals and then tracking each through analysis. Once a goal has been reached, it will be easy to determine which marketing efforts are working and should be continued and which should be ceased immediately.
Sentiment analysis is another important functionality in Social Media Analytics . A large portion of the information that one posts can be used to identify people’s feelings about a product or brand. For instance, using an analysis platform, one can determine how likely a person will buy from a company if they post positive comments about it and what message will change their mind.
Competitive analysis is important for companies trying to figure out how they stack up against the competition. By looking at the competitors’ performance, one can assess weaknesses and strengths and work towards improving their overall marketing strategy. The competitive advantage of Social Media Analytics is that companies can look beyond their marketing and use it to figure out how the competition is doing.
The Steps to Take and What to Look For
The first step in Social Media Analytics is to develop a clear set of objectives. What do you hope to achieve from your campaign? Are you looking for more people to follow your posts, to increase the number of times a post is shared or something else entirely? Once you know what you are trying to achieve with analytics, you can select the platform that will be most helpful.
Step two is to analyze the data that has been collected so far. Look at the impact of each post and determine what kind of content works best for that particular platform. For instance, try posting a video if a user’s posts are not getting the response you were hoping for. Companies can also learn which posts go best with Facebook ads because sometimes the most prominent ads are not necessarily the ones that get shared the most.
Step three analyzes the data in context by comparing it to information from similar companies. This enables companies to keep track of their performance and gives a better picture of how things are going. The information they collect will also be useful when it comes time to create social analysis reports.
Step four is to think about what kind of reporting structure you want. Will the data be useful just for a team, or will the entire company need it? How much time you spend analyzing your data should depend on how valuable it is and how much information your competitors receive.
About NetbaseQuid
Netbase is a market intelligence platform that helps companies discover the most popular content on social media and analyze the performance of their social media marketing campaigns. Netbase can also deliver competitor insights and monitor the activity of industry influencers. Netbase can deliver a deeper understanding of what content performs best for particular brands and each type of social network. NetbaseQuid allows companies to discover how their competitors reach out to customers and what language they use to get better engagement.
