Social Media Analytics – A Crucial Online Marketing Process; Too Powerful to Ignore

Did you know that nearly one in every ten internet visits end on a social network? With 100 million unique visitors and billions of tweets and updates each month, social media is fast becoming a rage today. Facebook has over 500 million worldwide users. Social networking occupies 11% of all time spent online by the internet users. Nearly 60% of the adult population globally has a profile on a social networking site. These online social conversations are capable of altering the perception and popularity of your brand. It is imperative that your marketing department comprehends cogently what people are discussing about your company’s products and brands. Social media analytics measures and analysis social media content pervasive throughout the internet.

Why analyze your social media activities?

Social media can be used to find out the level of customer satisfaction with your organization and products. You will receive valuable feedback on what interests your customers and how you can meet their expectations. It also provides the platform to interact with your customers. This leads to high levels of customer satisfaction and the identification of new business opportunities.

What should be measured?

Data collected from the social media analytics process gives a unique perspective of your customers on your products. Knowledge is power and capable of launching your business in a different league. With the information obtained, entrepreneurs can fine tune their business strategy to achieve desired financial and sundry goals.

There are two fundamental kinds of social media measurement. One measures the organization’s innate social media efforts. The other measures the conversation involving your brand present in the social media.

You can come to know the number of unique visitors, member registrations, ratio of posts to comments, types of comments, number of conversations over a period of time. Additionally, you can find out your share of conversations over your competitors and breakdown of the type of conversations. Conversations can be link sharing, support based or friendly banter. You can also find out whom you are conversing with such as prospective customers, customers, colleagues or outsiders. Other factors include ratio of positive, neutral, negative comments as compared to your competitors. You can also find out leads generated from social media and the conversion rate from them.

What are the tools for measuring and analyzing your social media activities?

New generation software tools have come to the fore leveraging the power of modern technology to eavesdrop on social gossip. These tools give you the opportunity to listen to conversations involving/mentioning your brand. You need to specify a set of unique keywords that identify your brand or have a tangible link with your brand. Then the tools shoulder the rest of the work.

Some of the tools used to monitor the social media include Brands Eye (This tool finds the reputation, media origin and opinions related to your brand), Trendrr (This is a real time monitoring tool) and Radian6 (It provides extensive analytics reports and charts). There are many more free or paid tools available for specific social media measurement activities. However, none of the tools are self sufficient and you may need to use a combination of several tools to achieve the desired result.

Generally, the tools crawl the social media sites using the specified keywords as a beacon and present you the results in an organized yet concise way. You need a human eye to scrutinize and examine the ramifications of the data.

To conclude: Social media is in a different realm compared to traditional web analytical tools. It occurs with or without the active participation of the business house. Social media analytics is a powerful process with the potential to significantly alter the destiny of your online commercial endeavors and marketing initiatives.

About the Author

Dave Otfinoski, CEO of My Business Assistant or “MBA”, has more than twenty-five years of executive, hands-on experience with small and mid-sized businesses. As CEO of MBA, Dave manages a team of experienced virtual assistants who have extensive expertise in the realms of small business operations, bookkeeping services, website design, SEO, content creation and call center operations. Outstanding client service and quality performance are the hallmarks of both My Business Assistant and the MBA team. We look forward to providing you with the Virtual Assistance that you may require to enhance your own business strategies. Please feel free to contact us at http://www.MyBusinessAssistant.com or call us at 800.993.9622 with any questions or inquiries that you may have.