There’s a lot of things that you can do with Social Media platforms. The first and most obvious function is to reconnect with your family and friends, as well as acquaintances. Marketing is the second function, as social media platforms give a place for companies to for product exposure. And last but not least, social media serves as an information trove for those who are who want to study the data. This is also the reason why Social Media Analysis was born.
What Is Social Media Analysis?
Social Media Analysis is a set of activities that offers insights on data from the social media marketing campaign. This set of activities includes the routinely analyzing the company’s own social media marketing data, as well as its competitors. The process and steps are time-consuming, that’s why tools such as NetBase, with functions such as social metrics and audience analysis, has become very popular for marketers. NetBase also offers Social media Sentiment analysis in which it analyzes how people feel towards their products.
How Will Social Media Analysis Help My Company?
- Dig Into Your Competitor’s Activities
The analysis of social media platforms can now be used at your own advantage. When a competitor deploys its new social media campaign, not only them will see its performance. You can also know whether their campaign is working or not, and make a decision out of this insight and additional data.
- Know What Campaign Is Working Or Not
While you can spy on your competitors, you can also know how your own social media campaigns are working. Are you failing a campaign or acing it? Once you know if your campaign is working or not, you can decide a new strategy to improve it or to reduce to backlash if there’s any.
- Have An Insight On What Your Customers Want
Social media analysis of campaigns will surely stir a reaction to your audiences. Whether the campaign produces positive or negative feedback, you will always know about your customer’s opinion. Because of this, you will be able to take note of what are the things your customers want in order to craft another social media campaign.
- Know The Right Influencers
Last but not the list, you will be able to keep track of what influencers in the industry have been saying about your product. In addition, you will be able to track these influencers and maybe do a collaboration to improve your product’s reputation.
4 Steps To Make A Social Media Analysis
- Take A Look At Your Own Data
The first step in social media analysis is to look at and analyze your own data. You can learn from your own mistake by avoiding campaigns that went wrong in the past and capitalize on your products strongest trait, which you can also get from analyzing your past data.
- Compare Your Performance To Your Competitors
Analyzing the performance of your competitors by getting the data available in social media is a great way to benchmark your and your competitor’s products. You can also do this when you’re just launching and you don’t have your own data yet for campaign creation.
- Find Out What Promotions Are Working And Not
The third step is to find out the promotions that are working with your products. If your current campaign is working, keep it. If not, you can get an idea of how to make things better by analyzing your competitor’s engagement and brand performance.
- Rinse And Repeat
Last but not least, rinse and repeat these activities in a regular manner. When social media analysis is done regularly, you will always know your brand performance and will always be able to make an opportunity for your brand.