Social Media Analytics Tools According to NetBase
Globalization is a reality and the manner in which enterprises are run today has changed. The level of competition has increased, necessitating business people to utilize various tools in making key business decisions. Due to the high internet penetration around the world, the use of social media has increased and businesses have taken advantage of that development. Different organizations have invested a lot of resources in identifying the right social media tools, applying and measuring their impact on business performance. When a small enterprise uses the appropriate social media analytics tools, it is likely to improve its global competitiveness. Even the global brands have also focused on using the tools to retain their ranks. The selection of the right tools is an important step in the growth of any venture. Different tools have varying cost, and the management should consider that before making the decision.
Web developers and other service providers such as NetBase have come up with a wide variety of social media analytics tools that are suited for all businesses in terms of their budgets, goals, and the level of expertise. This article will focus on providing detailed information to help you in making informed decisions on the right tools that meet your needs. Some of them have few features while others have many provisions. The more the features available to you, the higher it is likely to cost you. Therefore, small businesses are recommended to adopt the basic packages and upgrade as they grow over time. Social media analytics may be a new term to some readers, for that reason, we are going to give its general meaning. According to Netbase, it refers to the collection of data available on various social media outlets in making business decisions. In modern organizations, the top management utilizes the data to develop long-term business strategies that guarantee more production and competitiveness.
Social media analytics is not easy for some organizations. It mainly involves three stages. Since the tools are used for different purposes, the first stage is to identify the most important objective for the business. For example, some of the main goals include growing traffic to your sites, to attract more downloads, and promoting the brand. After the adoption of the right tool, you need to determine the metrics for the success or failure in implementation. The metrics are designed according to the firm’s objectives. For example, if you want to promote your brand, the metrics could be how the target audience feels about the products. Another metric could be the number of sales within a specific period. If the objective is not achieved as planned, you can use another tool that is more effective. The last stage for social media analytics is measuring and analyzing the collected data to make appropriate decisions. The process is done regularly as the business environment is dynamic and that presents the need to make adjustments as and when they are needed.
Some of the most common social media outlets are mainly utilized by the small businesses are they are free for all users. Facebook Insights offers a lot of opportunities for growing businesses. By creating a page on the platform, you’ll be able to observe trends and export the data obtained in the making comparisons with the other periods or with the performance of the main competitors in the industry. On Twitter, you can make observations after tweeting to understand which kind of tweets the target customers are more interested in. The platform provides fine details such as the gender of the audience and also gives you insights on some of the most trending topics.