You want to learn what your customers are saying about your company, but don’t have an extensive marketing team to mine the endless troves of Facebook, Twitter and Instagram. Fear not, business owner. This is the perfect opportunity for you to invest in social media software to provide you with the insights you covet in real time. A recent report from Frost & Sullivan showed that combining social media analytics with speech, text and Web marketing data can give companies more actionable resources than ever before.
“Social media analytics can uncover unique or otherwise difficult to obtain information on consumer behavior and the broader market,” said Brendan Read, information and communication technologies industry analyst at Frost & Sullivan. “It is gaining further acceptance as companies execute omnichannel strategies to provide a consistent, high quality, profitable customer experience.”
Businesses need user-friendly social media tools
As noted above, many business owners might not necessarily have factored social media analytics tools into their budgets, but they understand the importance of these solutions to their enterprises. In addition, many social media professionals don’t have the necessary training to maximize the potential of complex software. When vendors come out with innovations that are more affordable for businesses, and simpler to use, then social media analytics tools will truly grow in popularity, the research demonstrated.
“Social media analytics solutions must be intuitive to use and must generate reports rapidly to help companies detect, assess and act quickly on issues and opportunities,” Read said.
Get a grip on customer sentiment
There is no better way for companies to learn about what their customers are saying about them in real time than through social media. This is why social media analytics has gained traction in recent years. However, it’s hard to be completely accurate when evaluating customer thoughts found in social media posts. In an article for The Guardian, industry professional Francesco D’Orazio cited statistics that suggest it’s nearly impossible to be more than 70 percent accurate with sentiment tracking.
This number cannot be much higher because Facebook, Twitter and Instagram posts will often have posts taken out of context. Keeping this in mind, it’s critical in social media analytics to dive deeper in posts and not rely solely on researching keywords and common phrases.
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