What KPIs Are Most Important In Social Analytics
Technology is continually changing how businesses market to consumers as well as how they receive feedback.
In the past, companies had to deal with sending surveys, making calls or even providing free samples in order to know what the customers think of their products.
Today, all this has changed and retailers are now shifting to using of social media analytics to help them gauge what the market is thinking or saying about their products.
KPIs or key performance indicators that pertain to social media may be used to get valuable information.
A company's brand has to be invested in using social media platforms because this is where they can find consumers and can look at conversations, comments, likes, dislikes to tell how well they are doing.
Brand awareness is an important KPI because it can inform the business whether their marketing strategies are effective enough to reach a wide audience.
Are customers talking about it or are they wondering what brand that is.
Spending millions in advertising has to effect in consumers knowing and understanding what the company is engaged in.
A good method of measuring this is through using the share of voice metric which takes the number of brand mentions and divides that over other companies who are in the same industry.
A high SOV means that the retailer has done a great job of putting their brand in the market place.
After ensuring that the brand is well known, it is then time to analyze what consumers feel about it.
This is what is known as brand reputation.
It is a key performance indicator that looks at the number of positive, negative or neutral comments as a percentage.
The sentiment can help the retailer improve on their shortcomings as well as prioritize their marketing budgets to those issues that matter most to the consumer.
Sometimes a retailer may want to use lead generation to tell if a certain campaign it was promoting was successful or not.
The buzz on certain date ranges can tell a marketing manager on whether they were effective in reaching out to consumers.
Social media analytics can be a great way of measuring whether customer service initiatives put in place are being met and whether the return on investment is being realized.
Listening to social media chatter is very important for an organization because one negative comment can spiral out of control and destroy the company's brand.
In the past, companies had to deal with sending surveys, making calls or even providing free samples in order to know what the customers think of their products.
Today, all this has changed and retailers are now shifting to using of social media analytics to help them gauge what the market is thinking or saying about their products.
KPIs or key performance indicators that pertain to social media may be used to get valuable information.
A company's brand has to be invested in using social media platforms because this is where they can find consumers and can look at conversations, comments, likes, dislikes to tell how well they are doing.
Brand awareness is an important KPI because it can inform the business whether their marketing strategies are effective enough to reach a wide audience.
Are customers talking about it or are they wondering what brand that is.
Spending millions in advertising has to effect in consumers knowing and understanding what the company is engaged in.
A good method of measuring this is through using the share of voice metric which takes the number of brand mentions and divides that over other companies who are in the same industry.
A high SOV means that the retailer has done a great job of putting their brand in the market place.
After ensuring that the brand is well known, it is then time to analyze what consumers feel about it.
This is what is known as brand reputation.
It is a key performance indicator that looks at the number of positive, negative or neutral comments as a percentage.
The sentiment can help the retailer improve on their shortcomings as well as prioritize their marketing budgets to those issues that matter most to the consumer.
Sometimes a retailer may want to use lead generation to tell if a certain campaign it was promoting was successful or not.
The buzz on certain date ranges can tell a marketing manager on whether they were effective in reaching out to consumers.
Social media analytics can be a great way of measuring whether customer service initiatives put in place are being met and whether the return on investment is being realized.
Listening to social media chatter is very important for an organization because one negative comment can spiral out of control and destroy the company's brand.
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