Sunday 29 September 2013

Social Media Analytics - It's hot


By using Social Media, we can get much better traffic as compare to Web. If we want to get better traffic through our website, we need to spend our full time in SEO & SEM activities but still traffic will be less as compare to traffic from social. That's why i used hot word in the title of my this blog post

What is Social Media Analytics?
Social media analytics is the approach of mine data from social media and analyze and cull out relevant information to make important business decisions. 
The most fruitful use of social media analytics is to analyze audience sentiments

Key terminology:
  • Listening: Social media listening is the technique of identifying what is being said about our company/products/services on the Web
  • Social media measurement/Social media monitoring : Social media measurement or ‘social media monitoring’ is an active monitoring of social media channels for information about a company or organization, usually tracking of various social media content such as blogs, wikis, news sites, micro-blogs such as Twitter, social networking sites, video/photo sharing websites, forums, message boards, blogs and user-generated content in general as a way to determine the volume and sentiment of online conversation about a brand or topic.
What should you measure or monitor?
    • No. of mentions, views, & clicks
    • SOV (Share of voice)
    • Customer's Sentiments & opinions
    • Demographics (age, sex, area) 
    • Influencers analysis
    • Geographic tracking of your brand's mentions

  • Voice of the customer: VOC technique is used for determine the fruitful information of customer wants & needs.
VOC Initiatives
    • A detailed understanding of the customer's needs
    • Key recommendations for launching the new product or service
    • Positive and negative trends about services & products
  • Sentiment analysis: Sentiment analysis means to analyze the comment of audience/customer/visitor. The comment may be his/her personal thinking/judgment/evaluation
  • Share of Voice: SOV is the percentage of all online conversations  about our company/products/services as compared to our competitor.

    What will you get after successful Social Media Analytics?
    • Fruitful insights and key recommendations
    • Sentiments about our products, services & brands
    • What & where the discussions are going on about our products/brands and services
    • Identifying the trends & statistics about our products, services & brand
    • Identifying key influencers (Positive or Negative) for us

Reference: Wikipedia

1 comment:

  1. Well wrote Nitesh,Great Insight and Valuable points .

    ReplyDelete