6 Reasons Why You Need Accurate Social Media Analytics Service

April 17, 2017 / by Shiho Hashimoto Shiho Hashimoto

InsightsAtlas  6 reasons why you need an accurate social media analytics service

Customers control your brand by publicly making comments in various social media platforms. They post pictures, write ironic comments, or promote them for you.

You might also be using social media platforms as a channel to distribute your own content, run campaigns, and advertise about upcoming new products, which all may go viral by being shared and discussed.

But if you are not monitoring and analysing the performance of your own social media activities nor what customers are saying about your brand (without you knowing about it nor having control over it), things can easily get out of control and lead to a crisis.

I’ve listed here 6 reasons why you need to start using accurate and unbiased social media analytics service immediately.

#1. Monitor and analyze your brand visibility.

Social monitoring and listening allow you to listen into organic conversations about your brand across various social media platforms. Monitoring these unsolicited and unbiased opinions allows you to understand customer’s thoughts and opinions as they are naturally expressed. Here are some things that must be monitored

a. Volume of mentions: This is the size of a conversation related to the term or phrase that you are tracking, which can be your company name, brand name, product/service, or a market terminology. By analysing the number of times your brand has been mentioned online, it gives you an understanding of just how much (or little) attention your brand is receiving in social media. What is important here is that you monitor conversations that doesn’t include @brandname and those that happen outside of your official, owned social media channels. Our analysis and experience shows that up to 95% of conversations related to your brand can happen outside of your own channels. You also need to rule out irrelevant data. If you only use inbuilt analytics platforms (such as Instagram Insights), you will not get a complete picture of the social conversations that matter the most.

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b. Visibility: Traditional social media analytics tools look at the amount of 'reach', which is the potential number of people or accounts that the mentions/conversations will reach or be seen by. With 'reach', you take into account the number of followers/connections of each author that mentions your brand. If someone with a few million followers tweets or posts about your brand, it means your brand has the potential to reach that much amount of people’s eyes versus someone with a few hundred followers sharing something about your brand. This is one of the reasons why influencer marketing has become big in recent years. Influencer’s large audience base gives a potential for a brand to be seen by many, just by being “mentioned”. In turn, influencer analysis should also be done in case you invest into influencer marketing. 

But what is important here is the 'visibility' and not the 'reach' metrics. Visibility is the potential number of impressions/views that a 'mention' has. 'Reach' count may include fake followers, bots, and paid followers. This will distort the accurate analytics. By looking at the 'visibility' count, you would get a more accurate insights as to how visible your brand has been. 

 

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c. Engagement: Engagement may be one of the most critical metrics of brand visibility – it is when people actively digest your content by “liking” or “commenting” to anything related to your brand mentions. The higher the engagement level, the more effective your mentions are, as the conversations stay in the reader’s mind slightly longer than if he/she just watched it slip by on their feed.

d. Sentiment: Sentiment refers to the emotions behind a social mention. Social Sentiment answers to the following questions: What tone is the conversation in? Is it positive, negative or neutral? The sentiment of the social mention adds important context to the whole conversation. Read more about it here. The important thing here is to rule out any irrelevant data from the analysis. That can be your own company’ posts and advertisements or other irrelevant data, which does not add any value to the insights of real customers.

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By accurately monitoring and analysing your brand visibility actively, you can adjust your social media and digital marketing strategy to maximize the strength of these mediums.

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#2. Monitor your competitors. 

Social media is a great place to see what your competitors are up to. What are your competitors promoting? Who are they targeting their communication to? What are the customer’s sentiment with regards to competitor brands? By getting insights to these questions from across your social media platforms such as Facebook, Twitter, and LinkedIn, to name a few, you can adjust your digital strategy by building upon successes of your competitors while avoiding mistakes they may be making. Your competitor’s followers in social media may also be your prime target group for your own brand. Social media analytics service will provide you with quick and easy insights into trends and developments within your industry.

#3. Monitor your partners and agencies. 

If you are using partners or advertising/marketing agencies for your brand promotion and campaigns, most likely, you are also relying on them to provide you with the result of how a campaign went. It is in the agencies’ interest to provide you with more positive results than not – “The campaign was a great success!”. I am not saying you cannot trust your agencies. But instead of relying solely on getting statistics and campaign results from your agencies, it is essential for you to also get an unbiased and accurate insights into how your digital activities are performing, how your partners are promoting you in social media, and how truly successful (or not) certain campaigns were. This way, you can evaluate your partner and agencies’ true performance.

#4. Accurate analytics of images and videos. 

Many years ago, social media was full of texts. Now between 55-90% of posts (depending on the platform) are dominated by images and videos. While the world has changed, traditional social media analytics tools have not. Most are developed to interpret only text-based communication and cannot analyze accurately the context in which the post is made, if the post contains images in addition to natural language such as sarcasm, irony, and slang in different languages. If you are a B2C company, rest assured, your customers are talking about your brand with images of your products posted. I cannot emphasize enough how important it is to accurately analyze the true sentiment of your customer’s discussions. And only high-quality analytics service can interpret these types of complicated data.

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#5. Fast reaction to customer complaints.

It's now possible for consumers to interact with any brand in real-time, both for expressing satisfaction with the brand, or their disappointment for that matter. However, the fact is that customer complaints on social media are largely being ignored.  If complaints are done in public platform, it may go viral, leading to a crisis for your brand. By using high-quality analytics service, you can get social media alerts and react faster.

#6. Prove the ROI to your management team. 

With marketing budget and spending typically so high especially for B2C companies, C-level executives need to know how your digital marketing activities are performing. C-levels are metrics-obsessed (there is nothing wrong with that!), and need to see the return on investment of every activity. The ability to measure and analyze results is vital. Social media platforms provide some types of free tools to assist you in analysing your activities, but obtaining a holistic and accurate view across all your platforms can be a major headache. High-quality analytics service can provide all of this for you in a breeze. Instead of wasting time compiling reports for your management team by pulling and combining excel sheets, let analytic service do all of that for you and use your time to improve or do more of those digital activities that has high ROI.



CONCLUSION:

In today’s digital world where customers’ voice can be heard everywhere in a split second, it is critical that you have high-quality social media analytics at your service. If you are already using some sort of analytics “tool”, contact us and we will show you how those tools differ greatly from InsightsAtlas’ accurate and unbiased insights offerings.

Contact Us!

 

Tags: Big Data, Audience Response, Brand Health Index, Brand Management, Brand Visibility Metrics, Brands, Communication, Competitor Benchmarking, Crisis Management, Landscape Tracking, Marketing, Organic Conversion Metrics, Sentiment Analysis, Partner Benchmarketing, ROI Measurement, Social Analytics, Social Listening, Demographic Analysis, Brand Insight, Social Media Alerts, Social Media, Trend Tracking, Social Media Monitoring, Social Media Consultation, Influencer Analysis

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