Social media offers brands a huge pool of consumers ripe for brand communication targeted toward relevant interests––but consumers resent interruptions. This is particularly true when someone is trying to sell them something! And this is where social media analytics comes into play.
We’ll break down just what this crucial business tool is; what it isn’t; why you need to use it; and, how! We’ll cover these important topics:
First, social media analytics isn’t about brands. It’s about people sharing their lives with others they know based on common interests. Social media is a wonderful place for consumers and brands to connect, although they must remember one thing: social media may provide your brand’s first and last impression, so both consequently must be good ones. Many businesses adopt a brand-centric focus when starting out on their data analytics journey, and that can be dangerous. And it seems they are beginning to understand this: As of 2022, 92% of marketers in companies with more than 100 employees are expected to start using social analytics to better understand the landscape. Let’s explore!
There are many avenues to be explored via social analytics insights. It’s like peeling back an orange to discover the segmented fruit within.
In fact, the insights found through social media analytics can inform every part of brand operations. Here are six examples:
Your customers are your brand’s lifeblood. Carefully managing their journey from early awareness to established customer through social media analytics is vital for retention, and for your brand’s long-term health.
Consistently engaging with your consumers is critical, as well as developing a track record of being there for them with fresh innovation when new needs arise.
Case in point, Activision has seen their brand grow by delivering what they know their audience wanted. Their Overwatch League netted more than 10M views in its first week, and more than 200K per session.
And during COVID, when Amtrak saw opportunity during the pandemic to make sweeping changes, it delivered tools and experiences to make their customers feel safe as they traveled the rails.
A brand is the collective whole of all the touchpoints and interactions consumers have with a brand, and this includes the messaging coming directly from the company.
Ultimately, the consumer holds the keys to brand perception with brands constantly striving to influence positive consumer sentiment. Brand perception affects many things, with the biggest impact being your balance sheet.
Smart brands focus on keeping consumers happy.
Like when the COVID-19 pandemic broke out, Chick-fil-A responded immediately by donating $10.8 million to coronavirus relief efforts. And when social unrest broke out earlier this year, they were quick to reach out on social media to their customers, letting them know they care.
It’s quick and focused action like this that captures consumer love every time.
Customer care takes dedicated attention, and these days customer care is an ‘always on’ situation. Consumers have no hesitation reaching out to brands when issues arise, they also expect answers.
In fact, consumers know that brands have data on them, and they expect that companies will use it to build and deepen relationships.
Consistent social media analytics monitoring helps brands put the puzzle pieces of consumer needs together to inform innovations to address frequent issues in the most cost-effective manner.
For example, The Westin circumvented fitness amenity complaints by answering consumer “wishes.” They provided “well-being” experts to guide their fitness experiences while staying at the hotel. They also signed a deal with Peloton to offer virtual group cycling to their guests.
Social media analytics helps brands get in on emerging trends by informing them about products and services that consumers want. Additionally, the actionable insights produced help pinpoint market opportunities thereby minimising risks to ensure your product launch is a success.
For instance, check out how Ugg for Men made the most of their new line by gifting some slippers to the right influencers, reaching more than 3 million consumers.
Social media analytics allows brands to learn what their audience cares about and what influences their purchasing decisions.
These insights allow marketing departments to craft more personalised and relevant experiences. The opportunities here for brands are enormous with the additional benefit of real-time feedback allowing for adjustment mid-campaign.
The ways in which brands put their social media analytics intel to work are only limited by creativity. For example, by smartly using influencers, iHeartRadio generated huge engagement for the iHeartRadio Awards and nominated artists.
By creating thoughtful and engaging marketing initiatives, brands can build the emotional customer connections that boost campaign performance – just ask the city of Las Vegas.
The insight social media analytics offers brands when crisis hits is worth the price of admission alone because it saves both cost and reputational damage from speed of reaction.
An unhappy customer will tell between 9-15 people about their experience. With everyone online these days, that 9-15 people can turn into hundreds and thousands in a very short time.
The severity of the crisis and the length of time that it languishes unmitigated, or worse unseen, can bring critical consequences to brands that can linger for years. Their sudden nature points to the necessity of social media analytics in helping to round out your crisis management response protocols.
In 2020, when Zion Williamson blew out one of his Nike’s in the Duke-UNC game on national television. It stood to shake up Nike if they didn’t get ahead of the online narrative fast. Everybody saw it in real-time and they took to social media like wildfire. Luckily, Nike got in front of it quickly, and successfully steered the conversation.
Also, check out how James Madison University uses Social Monitoring to understand public misperception and gauge when, if and how to respond to potential crises – amongst other things.
Having a social media analytics tool is great, just be sure to vet your provider carefully. Sometimes tools are labeled similarly and are leading you to believe that they’re a social media analytics tool but in fact they aren’t.
Modus Film is a video production company based in Kent and London. Our services are nationwide and our video marketing agency can help you make some ground breaking content. If you want to discuss this further contact us or better yet see how video marketing can transform your current marketing mix. We are now fully PPE compliant. Plus we carry on working!
As video marketing experts we are specialists in all forms of video marketing. Here at Modus Film, we have completed many projects for our clients that have required us to define a digital strategy with really great results. If you want to speak to a specialist email [email protected] or call us on 01233 273 273.
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