1.What is social MEDIA ANALYTIC:
Social media analytics is the practice of gathering data from social media
websites and analyzing that data using social media analytics tools to make
business decisions. The most common use of social media analytics is to
mine customer sentiment to support marketing and customer service activities.
2.Metrics to track
Business metrics derived from social media analytics may include customer
engagement, which could be measured by the number of followers for
a Twitter account and number of retweets and mentions of a company's name.
With social media monitoring, businesses can also look at how many people
follow their presence on Facebook and the number of times people interact with
their social profile by sharing or liking their posts.
More advanced types of social media analysis involve sentiment analytics. This
practice involves sophisticated natural-language-processing machine
learning algorithms parsing the text in a person's social media post about a
company to understand the meaning behind that person's statement. These
algorithms can create a quantified score of the public's feelings toward a
company based on social media interactions and give reports to management on
how well the company interacts with customers.
3.TECHNIQUE USED BY SOCIAL MEDIA ANALYTIC
GOOGLE ANALYTIC: Google Analytics allows you to see where your visitors come
from and if they engage with your content or leave immediately. Additionally, you
can set up goals that match your business goalsand measure if visitors are
meeting those goals.
1. Traffic Sources section
Track traffic from social platforms – You can drill down by referrer and look at the
traffic generated from each of the social platforms. If you use a custom URL, you can
track traffic generated from a specific link you shared.
Isolate traffic using a segment – If you want to drill down on traffic for a particular
channel, you can create a segment and view information just related to that channel.
Social media dashboard – Create a graphical dashboard that shows a summary of your
social media activity and the results of traffic generated.
View real-time traffic – When you share out content on social media, you can view
your website traffic in real-time. While you’re not going to do this all the time, you
may have an important campaign that you have want to track more closely in the early
stages, and monitoring the real-time statistics can be useful.
Social media conversions – You can set up goals and track the conversion rates of
these goals broken down by social channel.
2. Sentiment Analysis: “Sentiment analysis (also known as opinion
mining) refers to the use of natural language processing, text analysis,
and computational linguistics to identify and extract subjective
information in source materials”. you analyze positive, negative, or
neutral mentions of your brand, product or service. A social media
monitoring tool like Brand24 will measure and report on the sentiment of
your social mentions. Sentiment analysis tools are not 100% reliable but
they can give you a good indicator when there’s a problem.
4.Importance of social media analytics
There is a tremendous amount of information in social media data. In decades
past, enterprises paid market research companies to poll consumers and
conduct focus groups to get the kind of information that consumers now willingly
post to public social media platforms.
This allows enterprises to extract information about how the public perceives
their brand, what kind of products consumers like and dislike and generally
where markets are going. Social media analytics makes it possible for
businesses to quantify all this without using less reliable polling and focus groups.
Social Media Analytics Show What You’re Doing Right： So how do you know
if you’re doing the right thing, attracting the right people, and making an
impression? Analytics are the answer! Use tools like Google
Analytics, HootSuite or HubSpot to find out things like, “How many
visitors come to my website per month?” or, “How many visits come
from each of my social media platforms per month?” After you create a
data baseline, alter one habit at a time, and see if you receive more
visits, likes, shares, comments, follows or other forms of engagement
during that time. Company Pay attention to these numbers and use
them to adjust your strategy going forward.
Social Media Analytics Track Your Progress： Social Media Analytical tools
allow you to see a bigger part of the whole picture. Besides showing
how your following has grown or how many fans you’ve accumulated
over time, some analytics programs allow you to track just how many
contacts (and hopefully leads) your social media efforts have brought
in. This means that you can measure exactly what the ROI is of some
of your social media outputs.
Social Media Analytics Help You Better Allocate Your Time： Just like analytics
can help show you which tactics are working, it can also show you the
social media source of your visits, contacts or leads. For instance, in
February most of our social media visits came from Facebook。 In
March, I decided to dedicate a little more time to LinkedIn and Twitter,
increasing the amount of posts and engagement on both sites.