Social media analytics involves compiling data from social media networks and examining it using social media analytics tools to make business decisions. The most used methods of social media analytics is to use customer feelings, thoughts and attitudes to make decisions regarding marketing and customer service.
Social media provides organizations endless opportunities to connect with current and future customers. The advantages of incorporating social media analytics includes:
Social media analytics tools allows enterprises to achieve a competitive advantage over its competition by enabling a stronger understanding of their brands. This generally involves understanding how buyers utilize specific products and services and what obstacles buyers face when using the products and services. It also involves gaining an understanding of how consumers feel about an organization, product or service.
Gain Insight from Consumers
Often, buyers may have a useful solutions for problems that arise in organizations. For instance, consumers may have uncovered solutions to problems and post answers online in social media posts and discussions, thereby helping organizations offer better information, products and services.
Enhance Products and Services
This is a primary goal of social media analytics. Mining information from posts, updates, tweets, reviews, comments, etc., can be utilized to determine the user experience and make the customer experience better.