What is social media analytics, and why it is important?
Social media marketing is the data gathering about your products and customers from social media websites for better business decisions. It is the analysis of product insights; to how many people like your content and comment about it.
Facebook, Twitter, and Instagram are not the only sites to gather consumer reviews. Other review sites, forums, and blogs are also important for getting data for social media analytics. The main objective of social media analytics is to benefit the earning, improve the customer services, get feedback on the product, and progress your business reputation.
Some business brands do not pay attention to the social media insights as they considered it a noisy place. But it is important for the brands to analyze the customer feedback and consumer data for better growing.
So-called synonyms that are not:
The terms that misunderstood with social media analytics are as follow:
Social media intelligence: Social media intelligence is finding the solutions to consumer problems for better serving. It helps to grow business well. If your customer is comfortable with you, your business will grow.
Social media listening: Social media listening is sometimes mixed up with social media analytics, although it’s a different term. It means to listen to the consumer’s gossips about your product or competitive product to make an analysis. It helps to determine the type of product which most of the audience love.
For example, if you are going to open a pizza shop, you can use the social media listening tools to know which flavor and which type of pizza is in demand. This analysis helps to establish your business well.
Social media marketing: It is also considered a synonym of social media analytics and most commonly of social media listening, yet it is a different term. Social media monitoring allows you to gather the information, relevant to your business. It means only to collect the information about the actions taken on your product or brands as the ratio of people that mention your brand and competitive brand. It is the monitoring of data that may become a better opportunity for your business, such as to comfort the customers to whom competitive brands irritate.
Social media competitive analysis: Social Media Competitive Analysis is the gathering of information about the weakness and strengths of your competitors. It helps you to learn from the mistakes of your competitors. This learning eventually will save your money and energy. For example, due to the transparency of social media, brands can analyze the offer of competitive brands on which maximum audience shows its interest. They utilize this offer with additional discounts to capture the maximum audience.
Image analytics: Image analytics is the extraction of useful information from the images. It is the gathering of celebrities’ photos in which your brand’s names or logos are pictured. It helps in the marketing of your brand. Brands use the images of famous people with their logo or name and pop up in front of the public for better attention.