Social media is a great tool that companies can use to grow their businesses by connecting with their audience. But, successful use of social media, a plan must be put in place. For years, social media sites have been in existence with new social media sites like TikTok emerging now and then. A lot has changed nowadays. It’s almost impossible to live without Facebook, Instagram, or Twitter.
Social media channels present better opportunities for interactive and more creative marketing campaigns. With the right platform, we can address our campaigns and reach potential clients at a convenient time. To achieve a new audience, promote your brand, and increase your ROI, you need to carry out a social media analysis to analyze data collected from your social media accounts.
One of the many companies that help with the growth of businesses is NetbaseQuid- thanks to its Natural language processing (NLP) technology. The NLP technology understands and complicated language to ensure companies make informed decisions due to highly accurate data. In this article, we’ve boiled down the steps on how to run your social media analysis.
Set Social media Goals
The first step to steer a successful social media analysis is to set your goals. You need to clearly understand your company’s accomplishments through the use of social media. Well laid objectives are the backbone of every thriving social media campaign. Some of these goals include increasing sales, targeting new customers, providing customer support, and raising brand awareness.
Define the Target Market
Every market intelligence strategy must comprise of customer analysis. Analyze their demographics and base, including gender, age, education, attitude, interests, beliefs, and social status. Apart from these, it’s also essential to monitor their social media use and the kind of platforms that they utilize. Also, understand the extent to which your customers use the platforms, and for what purpose.
Perform a SWOT analysis
Conducting a SWOT analysis is very useful for understanding the strengths and weaknesses of your company, certain areas that need improvement, and discovering available opportunities. A SWOT analysis will make you evaluate your company and distinguish yourself for a successful competition.
List down your company’s resources.
You must keenly assess your company’s resources, which are likely to be used to drive your social media efforts. Evaluate the maximum amount of time you can allocate to social media monitoring. In this case, the persons that you put in charge of performing this analysis will enable you to budget for additional investments for a better ROI.
Analyze your competitors
To conduct a successful social media analysis, you need to know your customers and their frequent use of social media platforms. This survey will enable you to develop a competitive strategy. Make sure to list all your competitors and take a look at their social media presence in every platform they use.
Please take a look at their branding consistency across each platform. How do they use each platform? It is also prudent to evaluate the type of content that the customers use, and the frequency at which they post it. Also, assess the level of feedback and reaction that they get on each posted content?
Critique your website
Evaluate your company’s optimization for online platforms— whether it provides ways for customers to share, interact, and collaborate with you. Analyze your website to see if your networks create more traffic to your site. This will aid you in assessing how effectively you can utilize your online presence to enhance your website traffic.
By implementing these essential steps to an effective social media analysis, you will know how best to use social media for higher returns on investment. Conducting social media analysis will also help you create a corresponding plan and an effective strategy.