Social Media Analytics are important tools for any campaign or users. Marketing has changed phenomenally as most businesses switch to an online presence for greater visibility and creating a comprehensive brand identity. Web strategists often use the term as a way of describing people’s interactions on the web and predicting behavior.
Monitoring content includes media such as blogs, micro blogs, social networks, video sites, as well as other interesting web interactions, often referred to as Web 2.0. The semantic web is also often referred to as Web 3.0.
According to Nova Spivack, an industry veteran, it is only part of the answer. Statistics, linguistics, open data, computer-generated intelligence, the wisdom of crowds and user-generated content all come together in the web’s next avatar.
Benefits of Social Media Analytics
Enterprises tend to identify and gauge trends of an audience opinionated on practically every subject. Marketers can interpret patterns such as passionate advocates of a brand, potential threats, gauge customer sentiment efficiently, quantify interaction and compare them with existing data.
Some of the features of Social Media Analytics tools include data/text mining, storage and integration, media analyst workbench, as well as an intelligence portal. An abundance of conversations can make identifying relevant metrics a daunting task.
Creating a smart strategy for customer engagement means knowing what the competition is doing. Analysis helps you understand what works and targeted iterative strategies. Most initiatives start with listening to the buzz; understanding where you are, creating topics and issues of interest, and making meaningful goals based on your own initiatives.
The proliferation of the social media poses numerous challenges; at what point in time should we engage in the conversation, reach versus affinity, etc. How is reach measured? The total direct relations, number of followers, subscribers, impressions etc.
Affinity is a barometer based on interest and intimacy. It also measures the number of close groups, relationships. Authority and influence are examples of affinity. Nearly all elements of an organization need to come together and work in tandem to potentially achieve exponential growth using a viral marketing strategy.
Defining an overall business and marketing strategy, looking at the company’s capabilities, putting crisis management in place, developing the appropriate social-friendly right product, identifying the influencers, monitoring campaigns, etc.
Viral marketing is a dramatic sales process. Microsoft Hotmail created the first online viral marketing campaign with free e-mail accounts. The use of social networks started with videos posted on YouTube.
Marketing is now integrated with more traditional forms of media, such as, billboards, commercials, fake websites, email blasts, online puzzles etc. Most traditional viral campaigns are unique, insightful with the power to create an emotional impact.
Building Social Communities
Emergent social platforms also leverage the power of an enterprise connect; the formation of computer-mediated communication and online communities that enable people to rendezvous, connect or collaborate.
Social media analysis also involves different techniques such as opinion& network mining, swarm intelligence, as well as early warning systems. The purpose of social media marketing is to facilitate interactions and curate content. Organizations are still to fully understand the intricacies of the medium even though it is increasingly ubiquitous.
Most business looks at the bottom line, and the contribution of social media to their overall brand exercise. A more sophisticated set of brand metrics such as awareness, favorability, recall, propensity to buy etc. are measured with the help of social media analytics.
A newsroom and a PR apparatus that offers bloggers, the social metaverse, and news organizations a rich set of multimedia, bulleted takeaways, and quotes from key participants can increase brand outreach. Lead generation is one of the most important aspects of the sales and marketing funnel.
Optimizing messages is fine, but actual analytics can be really tough to decipher. Although there are numerous tools available to analyze ideas, accuracy and charting actual number of visitors, along with related metrics is a time-consuming, tedious process.
Aggregated information is easier to interpret, and there is no single tool bringing the information together, and so build a composite dashboard, a spreadsheet, excel, pdf, or email that works effectively for you. Make any idea easily accessible. Sifting through a maze of information may take a long time, but ignoring the new social buzz is not in corporate best interests.