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Social media analytics allows organizations to track consumer reactions to their marketing content. This can also help businesses identify techniques that their competitors benefit from.
This data can be used for various purposes, including analyzing marketing campaigns and e-commerce sales. Most social media analytics tools offer custom reports that allow you to select specific metrics and data points.
Marketing
Social media analytics tools overview a company’s marketing performance. This allows marketers to identify a strategy that works and nip problems before they become serious.
Monitoring important metrics like reach, engagements, and mentions also helps companies justify the return on investment of their social media marketing campaigns. A guide to social media analytics can also assist in developing successful marketing campaigns by revealing the most famous content categories among users and the distribution channels for that content.
Additionally, it can assist companies in keeping an eye on the social media activity of their rivals to stay ahead of the game. Social media analytics can identify the underlying cause of a business’s abrupt upswing or decline in performance, such as an unfavorable product portrayal on television, to prevent a recurrence of the issue. Social media analytics can also help identify influencers and potential brand advocates.
Customer Service
Social media analytics is a vital source of information for businesses when it comes to understanding their audience and tracking the performance of marketing campaigns. It helps businesses to assess and optimize their strategies based on the most current consumer data available.
For example, by analyzing the reach of social media content (reach is the number of unique people who have seen your content), marketers can identify whether their marketing efforts are practical and ensure that they are working with an engaged audience.
Additionally, by monitoring customer sentiment (positive or negative) on social media, businesses can ensure that they provide high customer service. This includes quickly responding to questions or concerns to demonstrate a commitment to customer satisfaction. It also means addressing issues publicly to build brand trust and improve the overall public image of a business. Social media analytics can help by identifying the most popular channels for customer support and determining the performance of specific social media posts or ads.
Brand Awareness
Social media analytics tools can provide a clear overview of marketing performance KPIs to quickly spot and remedy any downward trends. This is important for companies with multiple teams working on campaigns because it allows CMOs to streamline workflows and reallocate resources if needed.
A tool that can track the growth of followers is also crucial for brand awareness campaigns because it shows whether the content is getting seen and heard by potential customers. Other important metrics include a social share of voice, which indicates how much space a brand takes up in followers’ minds.
By tracking user feedback, SMA can also reveal what aspects of a company’s products or services customers prefer. For example, it may show that one product’s features have a high approval rate. In contrast, another product has a low one, providing digital marketing professionals with valuable insight into how to develop new products that meet consumer demand.
Competitive Intelligence
With millions of people sharing their experiences on social media, businesses can find themselves in a treasure trove of real-time customer feedback. This information can help them spot and capitalize on emerging trends before competitors get there. For example, a clothing company may see on social that customers are seeking out eco-friendly clothing. They can exploit this growing demand by developing and marketing their sustainable clothing lines.
This type of competitive intelligence is only possible with a dedicated analytics solution. Choose a platform that can track and monitor your competitors, provide you with insights into their advertising strategies, and analyze their customer engagement metrics. Then, use these insights to make intelligent decisions and build a competitive campaign to put your brand ahead of the pack. Set SMART goals for your competitive analysis to help guide the process. This will ensure you’re measuring the results of your efforts and achieving ROI.
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