Almost half of the world population (3.499 billion) are active social media users. In addition, social media users are still growing year after, with 202 million new users recorded from April 2018 to April 2019. Social media sites are always bustling with activity, and some of them are product reviews or product opinions (good and bad) that users posted out of product satisfaction or frustration. To monitor your product’s reputation, a Social Media Analytics product is one of your possible choices.
What Is Social Media Analysis?
Social media analytics or SMA is the approach of collecting data from the activities in social media platforms that ultimately leads to a business decision. A good social media analysis will let the business make a decision, mitigate reputation threats early, and heps in engaging customers. SMA’s are important when it comes to the marketing and customer service activities of the company as it gives insight and engagement at the same time.
4 Benefits Of Using Social Media Analytics and Analysis
Data analytics has been one of the biggest trends of 2018, and it is not hard to see the reasons why. With more free access to social media sites, it is now easier to give feedback on the products that the consumers use. Here are four benefits of using an SMA platform.
1. Be Informed About A Problem Before It Erupts Into A Catastrophe
One of the biggest benefits of using a social media analysis platform is that it makes it easier to mitigate a problem before it ends up catastrophic. It enables the company to act out immediately to reduce the impact of the problem, whether addressing the problem publicly or dealing with the customer privately. No company is immune to damages, and this makes SMA very useful.
2. Understand Your Audience’s Needs, As Well As Your Competitors’ Moves
Although most of what social media analysis platforms do is to monitor a company’s own products or services, it can also monitor what the company’s products are doing. This way, the companies will be able to understand their audiences’ needs, what the competitive brands have in advantages, as well as what their products can utilize to improve their performance in the market.
3. Boosts Customer Service And Marketing Functions
Although this might not be obvious in the first glance, SMA platforms can boost the customer service of the company. It is not a direct one on one conversation, but companies implement the feedbacks that they receive from monitoring the sentiments of their target market about their products.
In addition to this, companies are able to get to know their strongest traits and plan a marketing strategy to highlight that. With the help of social media analysis platforms, there has been a lot of product and customer service changes in the past few years.
4. Implement A Rounded Strategy
It can be noticed that marketing strategies have been evolving in the past decade after the social media boom. This happened because companies were able to implement a more rounded strategy that revolves in their consumer’s needs. Another function that makes SMA platforms more useful is the fact that it can show what campaigns are not working and vice versa. With companies equipped with this kind of knowledge, they can implement a better strategy that will play to their strengths and will benefit their products.
There are a lot of reasons why companies like to use Social Media Analytics products these days, and one of the main reasons is convenience. SMA products such as NetBase makes social media analysis a very convenient part of their marketing platform. NetBase provides social metrics, audience analysis, social media listening, competitive analysis, and social media sentiments analysis in one robust platform, which saves time and effort.