The transformative power of social media analytics

Social media analytics helps you solve complex business challenges by monitoring and reacting to customer conversations in real time. Image: Dell Inc.

Social media analytics helps you solve complex business challenges by monitoring and reacting to customer conversations in real time. Credit: Dell Inc.

Through social media analytics, you can tap into the flood of online conversations to stay competitive and relevant.

In today’s connected world, social media has rapidly become a major force that influences brand reputation. Engaging with people who are discussing your brand — on a daily basis, even — is critical to turning detractors into brand advocates.

Of course, that involves more than just listening to the chatter on Twitter and Facebook. It’s also tuning into community forums, wikis, blogs and basically any channel where people talk about your brand.

Social media analytics helps you determine who is doing the talking: Are they customers, influencers or someone else? Also, you can find out if a certain event caused positive or negative conversations. And you can measure general brand sentiment on a daily, weekly and monthly basis. Social media analytics lets you monitor and react to customer conversations in real time, and ultimately help you solve complex business challenges. That’s the power of knowing who talks about you and what they say, across the Web.

Take a journey

You can think of the development of a social media analytics strategy as a journey with five steps, moving from an ad-hoc approach to a highly optimized analytics solution:

Data recording and tracking: Listen to online conversations, aggregate social data.

  1. Trend monitoring: Determine top trends.
  2. Sentiment analysis: Measure brand reputation, calculate probability of influence on purchase decision.
  3. Correlation and root cause analysis: Apply heuristics to enable competitive intelligence, product ideation and product design.
  4. Social customer relationship management: Examine campaign effectiveness.

You don’t make this journey overnight. Instead, it happens in increments, as your organization develops analytics maturity. To do so, you need to make the right investments in technology, and then invest in training people and creating a social media analytics culture within your organization.

Metric for gauging sentiment

Many tools are available to help you extract the good stuff from social media conversations. For example, the Dell Social Net Advocacy (SNA) metric is designed to measure the net advocacy of a brand or topic, calculated from the sentiment and context of social media conversations. Each conversation influences brand perception and therefore affects the overall advocacy or health of the brand.

SNA is measured at the brand level and beyond. It extends to over 150 topics representing different aspects of a business, including products, services, marketing, customer support and packaging. SNA helps you understand, quantify and contextualize online feedback, leading to smart business decisions that can boost the overall customer experience. By using SNA, you can integrate customer feedback in near-real time for short response cycles — meaning you can quickly connect with a customer and discuss relevant solutions.

Tracking feedback and beyond

You can use SNA in many different scenarios. For example, say you’ve just announced a product. You can then measure the impact of the announcement in real time by tracking any product feedback found in online conversations and converting these conversations into meaningful metrics to gauge success. SNA can be used for product development, sales, customer service and net promoter score. To learn more, read the Dell Power Solutions article, “How social media analytics transform conversations into insights.”

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Tags: Business,Social Media