An In-depth Guide to Social Media Analysis with Netbase
Social media sites have been a vital part of us for almost two decades, with the first social media channel named Six Degrees being in existence since 1997. It enabled users to post images and share messages. Since then, a lot has changed. You imagine living today without Facebook, YouTube, or Twitter.
Social media has then become the most crucial channel for marketing due to a large number of users and easier access, which targets potential clients. Due to this, social media audit is, therefore, very important for enhancing your marketing strategy.
What does social media audit entail?
To extract useful information from your social media marketing campaign, it is essential to analyze the data collected in your previous activities. This is necessary for making informed decisions while developing your marketing strategy.
Social media audit is based on your previous interactions with some of your followers, your previous posts, your last social media campaigns, and so on. With this kind of information, you can quickly draw actionable conclusions. Several companies have come up to help the growth of businesses through social media analysis. An example is NetBase.
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It is a private company founded in 2004 and based in Santa Clara, California. It is based on a wide range of specialties like social media analytics, enterprise social intel, brand analysis, product launch, consumer Insight, campaign tracking, risk management, customer care, competitive intelligence, purchase intent, product innovation, category analysis, influencer insight, and Natural language processing.
The most important way the company has helped in the growth of businesses is through social media analytics. Its unique natural language processing (NLP) technology helps in classification and an exceptional understanding of complex language. This is to ensure businesses make informed decisions as a result of the highly accurate data collection.
The company has, over the years, experienced extensive growth with its most of its customers being the most notable brands and fast-forwarding agencies. According to IntelliCap, an independent research company, NetBase produces a hard Return on investment (ROI) such as increased email subscribers, supporters, and higher conversion rates hence highly contributing to the success of a company.
How to conduct the process
For successful social media use, there must be a well-strategized social media plan which should stem from an organization”s strategic review and your social media efforts. Social media analysis should define competitors, target market, your online goals in addition to assessing your available tools and needs, which will best meet these needs.
Step 1- Set your social media ambitions
In the first step, you must be clear about your company’s objectives through the use of social media. Clearly define what you want to accomplish by setting goals like providing customer support, targeting customers and increasing brand awareness,
Step 2- Analyze your target market
Every strategy should include the analysis of one’s customers with their demographics, including gender, age, education, beliefs, social status, attitude, and interests. Despite this, it is also useful to monitor their frequent use of social media, their platforms, and their purpose for their social media use.
Step 3- SWOT analysis
This is a specialized planning technique used in helping an organization to identify its strengths, weaknesses, threats to business as well as discover available opportunities. Conducting a SWOT analysis will, therefore, help in determining the success of a business.
Step 4- Analyzing competitors
To develop a better business strategy, it is vital to take some time and study your competitors and their social media platforms. Take a look at their branding, content, interaction on their posted content, how they often post, and they use each of their platforms.
Step 5- List your company’s resources
You must outline your company”s resources to facilitate your social media efforts. Take a look at your tools, estimated time on how long you can spend on social media, and key personnel you can assign the task to. This will help you to include specific information or investments in your budget.
Step 6- Review your website
Always determine whether your site offers ways for visitors” interactions and whether it is optimized for any social media change. Analyze and take a look at the rate at which your networks drive traffic into your website and the amount of traffic you get. This will enable you to use social more effectively.
Step 7- Performing a social media audit
To assess how social media works best for you, it is necessary to conduct a social media audit. This can be done by creating an audit spreadsheet and listing your social networks.
By performing the above steps, you can quickly determine how you can take maximum benefit of social media to provide high returns on your investments.