Social media platforms give businesses unmatched opportunities for connecting and engaging with customers online. Monitoring of these platforms helps companies better understand and deal with current and potential customers.
They also get to know what the competition is saying about their products or services compared to what they are offering and hence are ideal to come up with better marketing campaigns. In short, social media monitoring helps you understand your audience’s needs.
Artificial intelligence processes billions of data, giving businesses information that will drive revenue, address service issues on time, and listen to market trends and competition. Also, one may consider doing a social media monitoring on your closest competitor, thus giving you an insight into the right direction and comparing notes.
Communications teams also use the data to ensure that what is in the social media corridors is accurate, up-to-date and dealing with any misinformation and crisis. Social media monitoring covers social platforms such as Linkedin, Twitter, Facebook, and other spaces such as news sites, communities, and blogs.
Additionally, it gives you the ideal time to engage your audience. Time is crucial as it will determine the level of traffic, engagement, and sales. To get the most of this data, NetbaseQuid, a consumer and market intelligence platform, will help you monitor the data.
Social media monitoring – The metrics
The metrics depend on the set goals that you want to achieve. These may include revenue increases or front office service issues.
Basic social metrics like likes, comments, mentions, and tweets are necessary for identifying who your audience is. But there is a need to go deeper. Social media monitoring uses artificial intelligence to listen in.
Data about keywords or topics are mined and loaded in a database then indexed to derive actionable insights.
These keywords may include company or brand name, name of a campaign that is about to run or running, complete with its hashtag, or a description of your product or service.
The frequency of use of these keywords over a set period is your first metric since you want your brand is known- its visibility. Categorizing is then done to separate the different participants by age, parental status, gender, or location, thereby allowing one to see who their actual customers are and what each group is saying.
As different categories receive information, targeted messaging, responses, and campaigns, it makes them feel spoken to specifically and directly. Consequently, one addresses their specific concerns and helps target market campaigns and at the right time and platform. One approach identified influencers to help grow your brand.
After measuring the tone and intent of conversations, targeted responses can either change, meet or divert their perception. The NetbaseQuid platform can do sentiment monitoring to reveal definite, dismissive, or indecisive tones using artificial intelligence, thus bringing out conversations regarding your brand. Here you will get raw positive and negative emotions – plus the intensity therein – to point at specific brand issues in real-time.
Share of Voice
The company/brand’s share of the pie in the social conversation compared to its competition is crucial. It’s a definite tool that measures success or the lack of impact on your engagements in the social space. It will also help you identify opportunities and make strategic moves as you will know your position in the market.
Good brand reviews travel fast, but bad reviews travel even quicker. With NetbaseQuid’s real-time platform, you will be alerted as emerging issues arise for prompt action. Negative comments can be detrimental. And on social media platforms, things can go south real fast.
Monitoring social media conversations helps businesses make critical decisions that affect their bottom lines. NetBase’s Next Generation AI takes you to the correct answer quickly. Make data-driven decisions fast and accurately.