Before jumping into explaining why social media analytics is a game-changer, here’s a brief introduction to ‘What is Social Media Analytics?’
By and large, social media analytics may be considered a form of data analytics, where the data is collected across social networks to segment and understand customers in a market as per their sentiments and activities.
Let’s dig deeper to understand how social media analytics is a game-changer for businesses in the present times.
Know your Customer’s Preference
Most progressive businesses in the day are opting for total customer-centricity. One of the key benefits of social media analytics is that it can help communicate to the right customer at the right time through the right platform and content. Consider a Netflix show – different users watch different shows at different hours of a day. Social media analytics can help segment online customers as per their preferences and plug in the appropriate content at the best time.
Perform Content Curation Easily
Content has been exposed as one of the secret sauces for reaching out to the audience or customer. The population today surfs the internet before hitting a store for purchase. In an era where social media platforms like Twitter, Facebook, Instagram, and YouTube have grown vital for brand voicing, tracking the content’s (posts, images, videos, links, etc.) traffic and performance across these platforms and segmenting them accordingly enables better content creation on that line.
Lay Down Cutthroat Competition
Using social media analytics, companies can track and evaluate the progress of marketing campaigns, ad campaigns, content ads etc. Additionally, with social media analytics, one can figure out appropriate platforms for marketing strategies. This statistical analysis helps extract a clear understanding of which platform may best suit a plan of action and which may not. Besides aiding streamlining processes and strategies to establish a competitive edge, this also helps achieve better results and revenue.
Improve Marketing Strategy
Big Data and social media analytics facilitate the evaluation of marketing strategy performance and spot unnoticed fallacies. Even better, the duo enables comparing a company’s strategy against its competitors to clearly examine and understand where they succeeded and where they failed. Having obtained the big picture, companies can create stable and targeted marketing strategies without a hitch.
Social media has become a key metric for companies to establish their online presence and maintain their reputation today. Bearing in mind the emergence of many online brands, social media analytics is surely a vital tool for companies to build effective strategies and stay forefront of advancement and competition.