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Grow your revenues with Social Media Analytics

Social media has grown at an exponential rate in the past few years. And we all know that there is no saturation point on its popularity charts yet. As per Statista, users for Social media has increased from 0.97 billion in 2010 to 2.82 billion in 2019. Adding to the trend, the number is predicted to cross 3 billion by 2021.

It is a known fact that social media has changed our lives and even our lifestyles. Social media is not only about entertainment but news, social interaction, catching up with friends and family,  business and the list is unending.

As far as business is concerned, social media has played a vital role right from the launch, to promotion, expansion and more. And the journey remains to grow. The landscape of social media keeps changing with regular updates in its algorithms.

Now the question arises,Do you need to include Social Media analytics in your marketing strategy in 2019? Because as soon as you feel that you have  arrived at an optimum social media strategy, the algorithm update knocks down your claim.

For every business, the main objective has been to enhance sales and reduce additional costs. Now the next important thing is, Social media a fair resort for your business to invest?

And the answer to this question is a sure “YES”. With the rising growth of social media and the multiple platforms it egulfs, each offer a huge opportunity to your business. Every social media platform having unique audience, allows you to reach them out with curated strategy.

Not only does Social media allows you to reach out to unique audience, but also to analyse how did your effort turn out in reality.The unique information that we receive from Social media analytics 2019 can be of high benefit.

A lot of people find it difficult to understand exactly what it is and how it can add value to your current marketing strategies. Here we have all the details for you!

What is social media analytics?

It can be understood by the name that Social media analytics includes the data analysis for taking appropriate business decisions. This information and data are collected from social media websites, blogs, and different forums.

It includes conversion of data of qualitative form to quantitative data. This task is carried forward with various kinds of text mining and other NLP technology. 

The commonly used Social media analytics tools help to understand the client sentiments so that it can be used for supporting marketing and other service activities for the customer. The main objective of using Social media analytics techniques includes:

• Amplification of online business presence.
• Running a marketing strategy with the assistance of Social media.
• With the use of Social media analysis report bringing a reduction in the service costs. 
• Receiving feedback on the service and products a company provides.
• Tracking customer opinions for a specific product or business category.

What is the importance of Social Media Analysis?

Social media has given a voice to the customers for speaking out their personal experience of a service, product or brand.

But unfortunately some businesses are in such a hurry to explore all the possible opportunities that they commit some common legal mistakes. These common legal mistakes can be avoided to let your business skyrocket its success.

Your business must be able to assess the things that are trending, what the customer is trying to communicate to the brand.

This product or service related conversations are important and here we give some of the major benefits of social media analytics:

1. You can make use of the social media analysis for better awareness generation and amplification of the tools. This is achieved by sharing the information and expertise as per appropriate requirements.
2. Understanding the needs of the consumer and the target market. This will give you information on trending products and services.
3. You will be able to track the sentiments of the consumer regarding not just yours but competitors brand as well. This will help in knowing the tone of the review as neutral, positive or negative. This can help you with making marketing strategies that are effective in maximizing your profits
4. Discover the places where both your competitor and consumer are present. Look into the discussion that takes place, the social media platform being used and other information like blogs, groups, and forums.
5. Finding major influencers that deal in your niche with the help of author and network-level analysis reports.

Top Tools for Social Media Analysis:

Here are the best social media analytics tools for 2019 that you can use for your business. Selection of the right tool will give you the exact answers that you had been looking for to grow your business:

Sprout Social:

The Importance of media monitoring for the cross channel analysis makes this undoubtedly the first choice. Regardless, if you want to die deeply for the business performance or just on one network, Sprout Social has got you covered.
You can track the Facebook pages, twitter link clicks can be tallied and also measure the growth on Instagram. The LinkedIn engagements can also be evaluated and Pinterest content performance can be assessed.

All of this can be done at one location. This helps in data organization and presents in the form that eases your understanding and you also have reports ready for presentations.

• Twitter Analytics:

The built-in analytics platform that is presented by Twitter is available for organizations and individuals as well. The tweet numbers, profile visits, and followers can be tracked easily. You can also see the monthly stats for the famous tweets, followers, and mentions. In case the Twitter cards for your business are active you can also observe the twitter analytics that will show performance and metrics as well.

• Keyhole:

This tool mainly has its focus on four important features. It can get inside the customer’s minds. Help in simplification of reporting and the results can be easily shared with the rest of the team. You will know what will attract consumer attention and finally, this helps in saving so much of your time.

This will happen as you don’t have to crawl on the varied social platforms for the required social analytics.

• Awario:

The business needs to have an awareness of the consumer conversations that are happening in a well-timed manner. This is where Awario can help as it specializes in brand mention tracking and also the specific industry conversations on the internet.

This includes reviews, blogs, and shout-outs and it truly offers the insights in real-time behind each of the mentions. Awario can conduct social listening through analysis of important keywords and terms that are related to your business services and products. 

• Brandwatch Analytics:

This is another powerful tool that also specializes in social media listening. The data is collected from the web and social platforms and this means it can be combined from varied sources.

The data can also be generated with visualizations from topic clouds and basic charts. You can monitor conversations that occur around the brand and see competitive analysis. This offers consumer insights and undertakes campaign intelligence as well. 

• AgoraPulse:

AgoraPulse helps in identification of the best content that you have put out and also the consumer requirements. It saves a lot of time of the social media marketing department and the chrome plugin of the tool does all of the work in one time.

Additionally, it puts all of the content in the auto-publish mode as well. So you don’t have to do that manually and several people can see it. 

• TapInfluence:

This analytic platform removes all of the apprehensions that are linked to influencer marketing. It includes metrics like engagement speeds, reaches of the product and the potential cost behind a specific influencer.

It highlights the metrics of an important influencer so that the brand gets information if the relationship will be beneficial for higher reach or not.

• BuzzSumo:

This is great for social media analysis, especially for Facebook. All of the information related to engagement metrics is seen once you enter the facebook page URL. The entire site can be analyzed as well and the performance can be shared. One can also track specific keywords and see the frequency of them having a mention.

Conclusion:

This was detailed information on how you can grow revenues with Social Media Analytics. With the use of Social Media Analysis the business can easily identify the social leads and influencers every day. These leads can be segmented depending on the tone of the conversation and themes.

These analysis help in making effective marketing strategies. Bring in the changes that are needed for the current ones, so that the business can be taken to the next level and maximize the profits.

Also, you need to make a wise choice while making a selection of the tools that works for you as every business’s requirements are different.

For any queries on Social Media Management, Search Engine Optimization or Social Media Analytics please feel free to contact us.

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