According to a report in 2017, a large number of marketers used social media for various marketing activities: 97% used Facebook for B2C, 81% used LinkedIn for B2B, and 75% used Twitter for B2B.
Importance of Social Media Analytics: Social intelligence tools enable brands to understand the user’s preferences, needs, expectations and purchasing behaviour. They help capture insights from conversations taking place across social media platforms and subsequently facilitate the process of consumer profiling, trend analysis and consumer behavior analysis.
As you analyze social media data you are able to develop customer-centric vision and craft highly targeted campaigns that drive in quality leads. Following are some of the ways social media intelligence can help you to stay ahead :
- Understand current & upcoming market trends
- Explore potential networking opportunities
- Identify disruptive technologies and innovations
- Understand the needs, behaviors, and habits of consumers
Prepare ground for better marketing strategies: Forward-thinking companies use social listening strategies to leverage real-time access to consumer insights. Such analysis enables the companies to use special media engagement data as a measure to increase brand loyalty and sales. More specifically, the analysis of social insights enables brands to do the following:
- Manage brand reputation across social media
- Refine and adapt marketing strategies in real time
- Optimize product development with consumer feedback
- Benchmark the strategies of competitors
Perform competitor’s analysis: It doesn’t matter what industry you’re in, marketing is a game of competing for the attention of your audience. Be it traffic, ad placement, followers or sales,you have to compete for the top slot. The benefits of conducting a comprehensive social media competitive analysis are impressive. From identifying rival firms and fine tuning your strategy, to benchmarking your performance and getting ahead, social media competitor analysis on the basis of social media data can touch every aspect of your business performance and contribute to potential success.
Final thoughts: In the absence of accurate data, tracking customer journey is difficult and attributing conversions to the right engagements is nearly impossible.
If you are looking for ways to boost your business online presence and reap benefits of social media strategies, then IKF is the one-stop destination for you! With a long standing in the digital marketing industry and team of social media experts, we can help you make your mark.