Before a company or brand can make any marketing decisions, they must first gather information. Companies can gather data on many metrics (and even more emerging) to determine which marketing tactics are working and which ones aren’t. For example, one strategy might be to invest in an ad campaign you believe will produce positive results, while another might be a loss-leading tactic aimed at gaining reviews and other happy customers who will share their opinions with others. Social media analytics are often used to gather data to help companies or brands make decisions. This blog provides an idea of the ways social media analytics help companies make decisions.
- Track how many people are buying the product or service.
The tools play a major part in the marketing department as they help gather, analyze, and disseminate information. With the swift rise of social media, it is now possible for companies to identify most of their customers who are loyal to the brand. Thus, they will track how many people are buying the product or service, thus enabling them to access the number of sales generated by a particular marketing campaign or via an online media channel. The tools also give sales numbers by region and other important sales details.
- Measure the success of a marketing campaign.
Nowadays, social media analytics are used to track any marketing campaign. The tools make it possible for the marketers to ascertain where they should spend their money and which strategies are effective in reaching the target audience. For instance, a client of a product or service might be required to conduct a test marketing campaign on Facebook and see if it is worth running another product promotion on Google AdWords through their webpage. The social media analytics can effectively help them determine which marketing channel is most profitable.
- Gauge the popularity of a product or service among target customers.
Many social media platforms enable brands to interact with the target market, thus, it is possible to listen in on conversations about their products or services and ensure that the information gathered is beneficial for the company. For example, a company can use their Facebook page and search for key words related to their product or service and then review what people say about it. They can also review comments on their YouTube channel and on other social media platforms and get real views about their product or service.
- Analyze the effectiveness of a particular social media strategy.
One of the best ways to increase success and customer loyalty is to achieve positive reviews from customers who have enjoyed using a product or service. The analytics tools help companies gather reviews from their loyal customers, thus, enabling them to see which product or service is working for them. The social media analytics can also help identify which aspects of a particular campaign are most effective.
- Know what’s triggering customers to leave feedback about your company or service.
With the introduction of social media, it is now possible for customers to leave comments on blogs through which they can express their views about a product or service. The marketing team can then use these comments to gain more insights and also see what kind of comments are most common among their target audience and that might trigger a loyal customer to leave negative comments.
Social media has become an increasingly important marketing tool for companies, with social media platforms such as Twitter, Facebook, and YouTube all becoming very popular. However, Netbasequid understands that unlike traditional advertising, which focuses on reaching more people and being seen by more people through print or broadcast media, social media is much more targeted and helps a brand directly connect with its consumers. Hence, social media analytics can measure the success of a marketing campaign.