The exponential growth of digital era has fuelled the dynamics of social media. Creating, publishing and sharing content has become crucial for businesses. The ever-evolving platforms of social media have compelled people to explore radical avenues of growth. Undeniably, to make sure that your social media strategy is on fleek, you need to keep optimizing it. On a regular basis, a business must be aware about the effectiveness of the different types of content they are publishing to ensure that they are able to deliver value to their target audience. Keeping track of content performance helps understand what’s working and what’s not. Social media metrics are a great facilitator; helping one re-strategize and make critical decisions which are backed by deep insights about followers, impressions, likes, shares, engagement etc.
Choosing the correct metrics for your business is important as it defines the path of the social media strategy. The right metric will steer your strategy in the right direction. Businesses nowadays are facing challenges, starting right from being confused about the type of content they should be pursuing to identifying the right metric. That’s where the social media analytics companies come in, who aid corporations to analyse and understand their brand on social media.
What is Social Media Analytics?
Analysing social media conversations to generate consumer insights with the help of tools & techniques such as natural language processing, text mining etc is known as social media analytics. Data-driven social media strategy helps organizations understand the social media dynamics and identify new ways to improve the strategy by researching & extracting social media data. With millions of tweets and posts being bombarded on the social media platforms every hour, the amount of data these platforms hold is unimaginable! The data, being unstructured, poses a challenge for businesses to understand the underlying insights. Market research and Data analytics companies indulge in an activity known as “Social Media Listening” in order to gain insights about unexplored opportunities.
Social Media Listening and Sentiment Analysis
As a brand, one must be well informed about the mentions and conversations their target audiences are indulging in. With the help of advanced analytics, analysis of conversations on social media enables companies to spot key trends and changes in customer behaviour. With social media listening, one can gain access to what their customers are talking about their brand, industry and competitors.
Using tools like natural language processing, computational linguistics, text analysis etc to analyse subjective information such as emotions & sentiments is known as sentiment analysis. It helps determine the writer’s attitude towards a particular product or topic – positive, negative or neutral. It has become essential for brands to consciously know about the opinions expressed by their customers on social media. With customers having easy access to all social media platforms, they have the liberty to make or break a brand. A negative conversation about your brand can adversely affect your sales and in-turn revenue.
To ensure that your social media strategy succeeds, it is crucial to know what your audience wants. A business can serve its customers better when it is aware about their customer needs. It is advisable that organizations approach companies who are pioneers in social media analytics, so that they can steer their marketing and sales strategy in the right direction without making any gigantic blunders.