Make Informed Business Decisions with Social Media Analytics Tools When the business environment became competitive, enterprises realized the importance of ensuring customer satisfaction to retain customers. However, to accommodate customers better, it is necessary to identify trends and their sentiments. Earlier marketers depended on surveys and feedback forms to know customer views and opinions. However, interpreting and analyzing survey results took a lot of time. The advent of social media and social networking sites brought in a wave of opportunities for enterprises to understand customer intent in near real time. Engagement tracking and advanced analytics helped enterprises in making critical business decisions. Thus, social media is highly beneficial for marketers. However, social media has its own share of challenges. Though social media consists of user-generated content, it is messy, data intensive and unstructured. And it is social media analytics that help in unlocking the wealth of information from the vast amount of unstructured data. Today people do everything online i.e., from booking tickets, paying bills, to purchasing goods. However, most people are unaware of the fact that while browsing or doing a particular activity on the Internet, they actually drop pieces of intelligence about their likes and dislikes. As and when they click an item be it looking for a particular product in an online store, sharing links and contents on social networks, participating in any form of discussions or putting comments, data regarding their online activities is collected by the social analytics tools deployed by most websites. Marketers then interpret and analyze these pieces of intelligence to understand the actual customer intent. In 2011, 1 billion pieces of content were shared on Facebook per day, while the number of Tweets per day topped 95 million. In such a scenario, enterprises cannot ignore the strength of social media and social networking sites in customer acquisition, engagement, and monetization campaigns. However, to make informed business decisions, enterprises need the help of effective social media analytics tools. These tools do brand monitoring and audits to provide insightful information about customer intention. To sum up, all businesses need to focus on social media these days and social media analytics are important tools for any social media campaign or social media users, to measure and increase their effectiveness online.
Published on Sep 13, 2012
Published on Sep 13, 2012
When the business environment became competitive, enterprises realized the importance of ensuring customer satisfaction to retain customers....