Facebook posts, tweets, and Instagram stories might just be ordinary stuff for some social media users; but for businesses, these are indeed valuable pieces of information that can help them make a big difference.
The emergence and growth of social networking sites, platforms, and channels in the digital landscape lead to the formation of what is popularly known as “social media analytics.” This refers to the process of analyzing social media data, deriving actionable insights from it, and making smarter business decisions.
However, if you dig deeper into the social media analytics definition, it is not just about performing a simple analysis. It can challenging steps that may require the application of advanced technology solutions and tools. In fact, a social media analytics research conducted by Stefan Stieglitz and his group pointed out some problems related to the discovery, collection, and preparation of social media data for analysis.
For example, the research revealed that the implementation of machine-learning algorithms solves the problem of classifying large volumes of social media data. These machine-learning algorithms are leveraged by social media analytics tools.
If you want to improve your online brand reputation, optimize your social media marketing campaigns, deliver personalized and tailored content to your social media audiences, or outsmart your competitors; social media analytics software solutions and tools will help you achieve that.
5 Reasons to Use Social Media Analytics Software for Your Business
1.Automates Social Media Listening
2.Centralizes Analytics Data
3.Monitors Key Influencers
4.Optimizes Social Media Marketing
5.Enables Competition Analysis
1. Automates Social Media Listening
Social media analytics software solutions automate social media listening. Also called social media monitoring, businesses can capture, track, and assess what people on social media channels are saying about them. Here, you will be able to tap into social media conversations and unearth thoughts and emotions that are associated with your brand, product, or service.
Wondering how exactly these tools automatically implement social media listening? They use natural language processing (NLP) and machine-learning algorithms to look for specific keywords or hashtags contained in textual information found in social media conversations and comments. Then, they interpret and classify the information based on its context. This capability enables you to easily find out whether a statement about your business is positive, negative, or neutral.
2. Centralizes Analytics Data
You can perform an in-depth analysis using your social media analytics software without the need to move between multiple systems just to collect and transfer data. This is because all your social media analytics data are centralized in one place.
Let’s say, for example, you need to check which social networking platform is generating the highest number of traffic to your website, you no longer have to go to Google Analytics and view your website traffic data there. With the right tools, you can optimize social media monitoring
3. Monitors Key Influencers
One prominent and noteworthy feature existing in social media analytics tools is audience segmentation. With this feature, you’ll be able to set up and define specific groups of individuals or companies from your large pool of social media audiences. Those who belong to a certain segment share some attributes and characteristics that make them different compared with those classified under the other groups.
Each group may have individuals or companies that have a large network of fans, supporters, or followers. They are called influencers. A social media analytics software allows you to immediately identify these influencers. Why? Because they have the potential of helping you expand the reach of your business. Influencers can affect the buying decisions of consumers. This is obviously one of the main reasons why 39% of brands are expected to pump up their budget on influencer marketing this year according to an influencer marketing report.
In addition, you can keep track of influencers' social media activities and engagements which include the blogs they are posting and the video content they are uploading. Just imagine how these influencers can impact the way you promote your product or service. This empowers you to fine-tune your online brand reputation management strategy once you connect and interact with them.
4. Optimizes Social Media Marketing
Social media analytics software tools make it easy for you to optimize your social media marketing strategies. They gather all quantitative and qualitative metrics about the performance of your social media content, like the number of likes, shares and what audiences think and feel about it.
You can dynamically analyze the performance of your social media marketing initiatives by taking into account the interplay between various factors. For instance, the tools permit you to discover if you are serving high-quality content to the wrong audience or posting low-quality content at times when most of your followers are active on social media.
5. Enables Competition Analysis
The best social media analytics tools provide you with the opportunity to gain useful insights into your’ competitors’ social media activities. You can identify patterns in terms of how they execute product placement on various social networking platforms.
What’s more, if you can apply social media listening to your Facebook, Twitter, Instagram, and Pinterest accounts, you can do that with the accounts of your competitors as well. Therefore, you’ll be able to verify if their products or services are getting negative feedback from prospects or customers. If that’s the case, you can draw these people into your own business and nurture them to become ambassadors of your brand to boost your strategies in scaling your business.
Why Do You Need to Use Social Media Marketing Software?
Social media sites, platforms, and channels are built based on powerful technologies, and they are viable sources of information for businesses that desire to grow. However, businesses have to deal with noisy, raw social media data that must be processed and prepared first before they can make sense of it and generate actionable insights.
Social media analytics software solutions play a vital role here. They remove the challenges when it comes to discovering, collecting, preparing, and analyzing social media data. Leveraging natural-language processing and machine learning algorithms, these tools now make it easy for businesses to analyze interactions and activities on Facebook, Twitter, Instagram, Pinterest, and other social networking platforms.
You should use social media analytics tools for your business because they have that level of sophistication and automation you need in order for you to understand the sentiments of your customers, enhance your social media marketing strategies, improve your online brand reputation, and compete well in your industry.