WHAT IS SOCIAL MEDIA ANALYTICS?
Social Media Analytics(SMA) involves collection of data from blogs and social media sites.This data is then evaluated to make meaningful business decisions. Social Media Analytics is not a bad career choice. In the United States, Social Media Analysts earn around $55,000 to $100,000 annually. Social Media Analysts assist their clients to know what makes social media users to be drawn to their sites or blogs. Facebook and Twitter provide some built-in social media analytics and market intelligence services so that users can determine the kind of posts that had more positive reviews.
There are dozens of social media analytics tools in the market today. These tools will help you to gauge your social media presence and assist you to develop a more effective marketing strategy.
Apart from social analytics, NetbaseQuid offers various market intelligence tools that can be used by various individuals in business to make strategic and more informed marketing decisions.These tools are categorized as Social Monitoring, Social Intelligence, Social Listening, Sentiment analysis and Competitor analysis tools, just to name a few. Generally speaking, Social Intelligence is a collection of technological solutions that can be used to monitor social media platforms.on the other hand, Social Media Listening mostly involves gathering information about your audience while Social media Monitoring through market intelligence is all about alerting the social audience in case of a disaster or an important opportunity.
More brands are finding it very necessary to monitor their consumer’s social mood. NetbaseQuid has the tools necessary to generate reports like the North America Consumer Insights Analytics report.This report gives a general outlook of what some consumers thought and felt about some of the goods and service provided.
Brands are usually advised to make a Social Media Analysis more than once. This is bacause taking a look at this data at first glance may not present a completely accurate piece of information. Fluctuations and ‘noise’ in the data presents a challenge.Therefore, consistent monitoring and tactics to filter out the ‘noise’ and spam is highly important.
NetbaseQuid is a major player when it comes to Influencer Marketing intelligence. Brands are assisted in making stronger connections with their current customers and in the process of identifying potential influencers. NetbaseQuid also offers solutions and advice about Competitive Intelligence.
TYPES OF SOCIAL MEDIA ANALYTICS.
There are four types of Social Media Analytics.These are prescriptive analytics, predictive analytics, diagnostic analytics and descriptive analytics.These four different techniques provide insights and are applied in different situations. First and foremost, descriptive analysis gives answers to the questions; What is happening curently? What happened? It is used mostly to look at similar data points in order to deduce trends, patterns and sentiments.
The second type of Social Media Analytics is diagnostic analysis. This is also a rective type of analysis. It deals with occasions that have already taken place. Successful posts and campaigns are analysed in order to figure out what made them to be alluring to users in the first place.
Predictive analysis tries to give forecasts on trends, shifts and events using existing data.In this type of analysis, Social Listening tools can be used to know about upcoming trends by taking a look at large amounts of social media data. An example of this kind of analysis is using relevant posts to determine plausible visits to a particular tourist destination.
Last but not least is prescriptive analysis. Just like predictive analysis, prescriptive analysis is proactive. It actually aims to discover the best approach to solve a particular situation. It can be used to mitigate a social media crisis or to define preferences based on consumer habits. In most cases, data cannot be very meaningful if it is not analysed.That is why Social Media Analytics is of fundamental importance and it is increasingly being used by most brands today.