Social media analysis: the act of collecting data from online social networks and evaluating them in terms of your business’ goals and objectives, and using the data for future business decisions.
Whether your brand’s goal is to boost sales, increase brand awareness or trust, better understand their market or increase customer satisfaction, social media is an incredibly powerful tool. As marketing and communication professionals, it’s easy to see social media for the goldmine that it is; a haven of information about your customers, competitors and overall target market at your fingertips. For others, however, it can be difficult to understand social media’s true value, and that’s where social media analysis comes in.
Measure social media ROI 📈
Without social media analysis, convincing others of the actual value of social media to brands would be incredibly difficult. From an agency point of view, social media analysis is a lifesaver. It allows us to measure social media ROI for our clients and present them with actual figures to show the effectiveness of social media campaigns. If a brand’s goal is to increase web sales, tools such as Google Analytics can show how users reached their website and how many of them went on to make a purchase.
Now, you could talk about the effectiveness of your social media strategy until you’re blue in the face, but nothing convinces clients more than delivered results.
Refine social media strategy 🎯
With a few clicks of a button, we’re able to see which tactics are working and which aren’t, allowing us to focus more of our efforts and resources on tactics that deliver actual value and work on improving upon those that aren’t. For example, if through analysis you’ve noticed that content containing images attract higher levels of engagement or more clicks to your website, you could refine your content to make sure that every piece of content is shared with an image attached.
In essence, social media analysis enables marketing teams to gain a thorough understanding of their brand and how they can refine their social media strategy to help achieve goals and objectives.
Gain a better understanding of your audience 💡
Almost everybody these days has a digital footprint (a trail of online information that is often more public than people assume) and marketers can take great advantage of this. Social media can act as a brilliant way to engage with your audience in real time, and social media analysis helps gain a better understanding of your audience’s needs.
Using analytics, it’s easy to see which type of content best engages your audience, encourages the most link clicks, app downloads, likes etc. Having a marketing team that knows exactly what makes your customers tick is incredibly important and social media has made this information a lot easier to access.
Benchmark against competitors 👥
It’s no secret that a lot can be learned from competitor analysis. Social media analysis tools allow brands to identify their competitors, what they do well and where the gaps are in their social media strategy. Running a side-by-side analysis with your competitors can help marketing teams figure out ways to gain a competitive advantage and increase their competitive intelligence.
Social media analysis enables marketing and communication professionals to gain a comprehensive understanding of the market they’re operating in, what they’re doing well and what they can improve upon. It’s this level of knowledge that inspires creativity and helps to keep brands ahead of the game.
Looking to polish up on your social media skills and refine your brand’s strategy? Get in touch with us today, we’d be happy to help!
With social media metrics in mind, we also recommend taking a look at the AMEC website. As the world’s largest media intelligence and insights professional organisation, they campaign to highlight the importance of efficient measurement in communication!