In the past ten years, social media has changed how brands market their products and services. As all brands take to social media to market themselves, the issue of social media analysis to find out how effective a social media marketing campaign is comes into mind. Effective social media analysis takes place in various steps and stages.
As a brand, a company should define its goals for using social media from the very start. Social media analysis goals could include increasing brand awareness, increasing sales, targeting new customers, or even providing customer support.
Social listening involves focusing on what consumers are talking about and focusing on their needs instead of those of the company. This involves taking a closer look into defining or redefining your target market as a brand based on elements such as age, gender, interests, attitudes, and social status among others.
By doing this, a company establishes a human connection with consumers, breaking down any market segment into different demographics. Using the demographics obtained, a brand can determine consumers’ behaviors, opinions and attitudes towards not only specified products and services but also those of its competitors.
Once a company understands the various consumer demographics its dealing with, the social media analysis should look into consumer engagement with the provided content, and compare this to how consumers engage with content from the competitors.
The first aspect to look at is the volume of brand posts. However, volume alone does not communicate much. A look into the most engaging content breaks down consumer interaction with a brand’s content through likes, shares, and comments.
With this knowledge, a company can drill down further into the psychographics of each consumer demographic. As such, one can create content for each demographic to increase a brand’s engagement with each group.
By looking at the competitor engagement with consumers, a company also gets insights into what consumers respond best to, allowing the brand to create such content for own use.
Any brand should be fully aware of the buzz in its industry. By taking a look at what the competitor is doing, a company can come up with a better competitive strategy.
Not only will one also know what they should be doing, but it will also give the brand manager a clear picture of what customers respond to best, and direct the firm towards where marketing efforts should be focused.
With competitor analysis,one should look at what they are posting, the followers they have gained, and customer engagement.
Social Media Audit
In social media analysis, an audit comes in handy since it helps a company assess how the current social media presence and activity is working. This should either be in favor of or against the brand. Creating a social media audit spreadsheet enables a brand to evaluate various social media profiles. This way, one can determine if it is sending the same consistent message across all platforms.
A SWOT analysis is handy at this point as it helps in determining which social media tools can be used to one’s advantage. This can be used to either amplify messages sent to consumers or increase consumer engagement. One can carve out a consumer niche the brand can target to its advantage.
NetBase is a social analytics company powered by next-generation artificial intelligence to give real-time insights into a brand’s customer conversations. The company delivers fast, accurate, and deep consumer insights for maximum ROI in improving crisis management, boosting campaign performance, and maximizing product launches.
Its product solutions also come in handy in lowering customer care costs, protecting brand health, and increasing customer acquisition.
Using state-of-the-art technology, NetBase provides customer experience analytics, social media analytics, image analytics and photo concepts, out-of-the-box integration, API, and dashboards and reports. The company’s portfolio includes companies such as Edelman, Coca-Cola, Ogilvy, Cuisinart, and Lloyds Bank, among many others.