Social media is a powerful tool that organizations can use to grow their businesses. However, to successfully use social media to reach a larger audience and connect with your clients, you need to put a plan in place. Social media platforms offer better opportunities for more creative and interactive marketing campaigns. With the right channel, you can address your campaigns and reach potential customers at a convenient time. However, to get new customers, market your brand, and increase your profit margins, you need to conduct a social media analysis to evaluate data obtained from your social media handles.
This guide outlines the steps you need to follow to complete your social media analysis effectively.
Develop Social Media Goals
To conduct a successful social media analysis, you need to understand what your business wants to achieve via social media use. Well-laid objectives serve as the foundation of every successful social media campaign. Some of the goals you may wish to attain include targeting new clients, increasing sales, offering customer support, and raising brand awareness.
Identify Your Target Market
Your market intelligence technique should include customer analysis. Evaluate their base and demographics, including age, gender, preferences, social status, education, beliefs, and attitudes. It is also essential to track their social media usage to identify the platforms they use and their time on each forum. This way, you will get the number of customers using a specific social network.
Conduct a SWOT Analysis
A SWOT analysis will help you pinpoint your enterprise’s strengths and limitations, the areas that require improvements and discover the available opportunities you can exploit. It will also allow you to evaluate your business critically, differentiate it, and find a niche you can compete in successfully.
Assess Company Resources
Before you indulge in social media analysis, you should carefully evaluate your business’ resources, which you will probably use to drive your social media campaigns. Determine the maximum amount of time you can dedicate to social media monitoring without compromising other duties. Additionally, define the tools your organization has and the individuals in charge of performing the analysis. Consequently, this analysis will help you budget accordingly for better ROI.
Assess Your Competitors
For your analysis efforts to succeed, you need to know what your competitors do. You can attain this purpose by identifying your target audience and how they use social media. But before you start analyzing your rivals, make sure you find out if they use social media. Once you ascertain this aspect, list all your current and prospective competitors and evaluate each one’s social media presence in each platform. Also, monitor the type of content they post and how regularly they do it. It is also essential to evaluate the level of reaction and feedback they get on each posted content. This survey will allow you to create a competitive strategy.
Analyze Your Website
Analyze your business’ optimization for online platforms- whether it offers ways for your clients to share, interact, and cooperate with you. Evaluate your site to find out if your networks generate more traffic to your website. This assessment will help you evaluate how you can use your online presence effectively to increase traffic to your website.
NetbaseQuid is one of the most successful social media analytics companies that help firms attain their social media marketing objectives. The organization provides valuable insights that increase businesses’ trend analytics, competitive intelligence, risk management, product innovation, and marketing strategies. NetbaseQuid delivers accurate and real-time clarifications that enable companies to understand how the public perceives their services or products and define their market position.