Thursday, January 24, 2013

How Social Media Analytics Tools Help Businesses?

In the previous blog post, I told you how and why excessive social data is a problem. And I also stressed that Social Media Analytics (SMA) Tool is the most viable solution to overcome the challenge.

But, how does a Social Media Analytics Tool help organizations and their marketers to extract relevant, value-laden information from their social data, infer actionable insights from it and amass critical business intelligence using the filtered data? New age social media analytics tools are equipped with high-end features and capabilities using which organizations keen on sharpening their social media strategies can do the following -

1) MEASURE the engagement level of your content
SMA tools will tell you more than just the number of ‘likes’ and ‘shares’. It will inform you how effectively or ineffectively your digital content is engaging your social audience. You can use this insightful information to plug the holes in your social engagement strategies, revamp it or design newer strategies.

2)  LEARN more about your customers
Using social media analytics tools, brand managers can easily know their consumers’ likes, dislikes and topics of interest. This information can be used to develop custom-made products and services, streamline marketing campaigns and find new ways for social engagement.
3) DISCOVER new customers
People express their “intent” and needs on the social networking channels. Next generation SMA tools use Natural Language Processing (NLP) techniques to conduct Intent Analysis. By scrutinizing the intents and needs expressed for their specialty products/ services, brands and organizations can effortlessly discover potential new customers and also increase their market reach.
4) GET the ‘who’ and ‘where’ of your customers
Knowing their customers’ demographics helps organizations to channelize their product development efforts in a specific direction and employ target oriented marketing campaigns. SMA tools reveal to you who your customers actually are as individuals. These tools tell you their gender, place of residence, age, profession, qualifications, preferences and much more.
6) PREDICT trends
Negative and positive sentiments expresses on the social media channels are indicators of people’s affiliations with topics of discussion around them. Through detailed sentiment analysis, SMA tools enable organizations to predict trends in people’s buying, decision-making, behavior.
5) MONITOR your social reputation
SMA tools assist you to track your brands’ performance on the social media channels. You can monitor your social reputation and get insights for your social media strategy.

All in all, SMA tools equip you with insights, reports and information that make up critical business intelligence that propels any organization’s performance and growth. SMA tools will drastically change the way enterprises conduct business and become the future drivers of organizational success.

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