Social Media presence growth in our lives in the recent years has been exponential. According to the recent surveys, more than 70% of the youth demographic are actively using social media platforms such as Facebook, Twitter, Tumblr, Instagram, and LinkedIn. This staggering increase in the use of social media also gives an opportunity for the companies of all sizes and types to promote their brands.
Social media analysis and marketing is an important tool for the expansion and outreach of the products and services of a particular brand to a larger audience. It is an innovative marketing approach to engage consumers in their content and brand name much more efficiently. Even banks and financial institutions are beginning to realise the potential of social media for brand trust and customer engagement.
The need of consumers to stay connected with various social media platforms provides an opportunity for the business enterprises to gain a competitive edge over the competitors. Brands do this by effectively using the information to boost the various aspects of business, from like customer service to, marketing strategies, etc. Social media analysis and measurement also saves a lot of money as it is an easy way to reach masses.
There are numerous tools used for doing social media analysis and measurement such as consumer engagement, demographic data, posts, presentationimpact, etc. However, the selection of a suitable tool depends on multiple factors.
A couple of them are discussed below:
- Scope and suitability
Social media data analysis, if done properly and strategically, is a fairly simple exercise. It includes analyzing the numbers to understand the size and scope of a brand and how it needs to be projected. A proper and suitable tool can measure all the aspects of a social media campaign in a very effective manner.
- Backward planning
Before attempting the beginningany form of measurement, it is important to understand what the desired end outcome is and then working backward – this is the ideal way to go about it. It will also give theprovide clarity on the type of tools to be used to gather the complete data and ways to analyze the saitme. Various social media intelligence and management tools help in simplifying this process. Some of such tools include Sotrender, Ppercolate and Unmetric.
- Measuring the right way
One of the most important considerations of social media analysis and measurement is to measure track the correct performance indicators like conversion rates of cold leads to identified ones, consumer engagement levels, social media traffic generation and customer retention rates through social media platforms.
- Keeping track of cCompetitors analysis
One of the importantA key part of any parts of the social media campaign and analysis is keeping track of competitor’s strategies and what they are doing across social media platforms. This is known as social competitor analysis. Many big brands have used this effectively. A perfect great example would be Starbucks Twitter analysis campaign using the Unmetric tool.
Social media analysis and measurement is at he must for the brands to optimize their content, however, big or small the brand is. Identifying the main internal metrics a brand should measure, as well as and the work effectiveness ofas per athe competitor’s efforts, with the help of perfect social media analysis tools makes the tracking of progress, growth and success easy and fast. It is also the basises for any social media analysis initiative’s success.