Introducing Social Media Analytics
Social media analytics is among the five fundamental pillars of social media marketing. Businesses use different social media platforms, such as Facebook and Instagram, to increase engagements with clients towards building a stronger brand, raising sales volumes, and maximizing profits. In these analytics, businesses gauge the performance of their social media marketing strategies, using specific metrics to determine the achievement of expected results. Apart from the simplified metrics that social media companies provide, other social analytics companies such as NetBase Quid provide analytic information.
Using Social Media Analytics for Evaluation
Businesses use this analytics method to make better marketing decisions or organize their marketing strategies around it. To actualize this, they must use it for evaluation or measuring the accessibility of their social media pages. Specifically, the analysis metrics help in measuring how a company’s social media channels perform. Marketing personnel can then utilize this information to devise a strategy based on performance to propel a business forward.
The use of social media analytics for evaluating performance is quite complex. For instance, a standard metric that companies use for evaluating the performance of their social media channels is the click-through rate, which gauges the proportion of people who click a social media link that redirects them to a company’s official website. However, using this metric without more critical analysis cannot translate to a stronger brand, increased sales, and maximum profits. Social media teams need to critically analyze such metrics to devise better social media strategies that attract more people to their brand.
Marketing teams also use these analytics to gain a better understanding of their markets. For instance, an increase in the click-through rate implies that a business’s social media page is increasingly attracting more traffic to its website. Such traffic is not helpful if a marketing team cannot convert the potential customers into actual customers. Efficient social media personnel should use this data to appeal to all prospective customers, ensuring high traffic translates to high sales. These metrics are also important for support teams that cater to customers’ inquiries before and after-sales to maintain their loyalty.
Using Social Media Analytics to Leverage and Increase Market Presence
Social media presence is not guaranteed for a company to benefit; a difference exists between typical engagements that social media teams have with clients and analytics. Social media teams only need to consider customer inquiries for ordinary engagements, whether loyal or potential customers. After understanding them, they react to each customer inquiry accordingly.
Analytics entails more in-depth leveraging of numbers to make a difference in expected results. Specifically, analytics involves separating customer inquiries regarding their source, the speed of response to a social media post, and specific habits while they engage through different platforms. Marketing teams doing these analytics get an array of specific information that companies should use to organize and style specific messages to particular audiences according to their exact needs. For instance, youths have different demands and preferences for products from age people. Youths mostly go for style, whereas aged people go for functionality.
In most cases, companies do not manage their social media pages and do not perform social media analytics. For this reason, social analytics companies, such as NetBase Quid, assume these roles in providing incomparable solutions for businesses interested in comprehending customer, market, and industry trends. As a result, NetBase Quid analyzes customers’ behaviors and trends, providing businesses with variable options on improving their brand health towards making more informed decisions on innovations and other measures to improve performance. The efficiency of NetBase Quid is evident through its high-level partnerships established with global brands, such as Coca-Cola, Walmart, and Lloyds Bank.