What is Social Media Analytics?
It is a new field in social sciences that studies society’s use of social media. It has become an essential topic of academic research and strategic business analysis. Social media analytics is concerned with measuring and exploring the data on social networks, including sentiment variations by demographics, interests, and public opinion tracking on topics.
NetBaseQuid is a social media packaging tool that allows users to simultaneously monitor and update the status of news, rumors, or discussions on social networks. It also sends automatic alerts when there are new postings and automatically puts them in a database. The tool can analyze all data types, including search queries, images, and user profiles. The Drug launch is an example of social media analytics using this tool.
The patient-oriented social media analytics allows patients to talk about their medical experience, regardless of location and time differences. This way, they can express themselves over the Internet in a much more relaxed and accurate manner. Drug makers can use this information to get direct feedback on the product. Pharmaceutical companies quickly evaluated the results of these social media analytics when playing with them in real-time.
NetBaseQuid Services and Possible Ways They Could Help Reach Business Goals
1. Marketing:
It can help to reach customers’ attention and overcome the no-fan-base problems. The patient can interact with the product directly reflected on the net. When people discuss something online, they are often in a new group that is different from their existing group. It can increase brand usage to a new customer base.
2. Evaluation Of Social Media:
It can help evaluate the word-of-mouth advertising and customer relations system, customer service center, and customer service chain points. These areas that influence social media messages include advertising spending tactics, product improvement, and changes in user experience.
3. Effective Marketing:
Businesses can use social media analytics to make brand management policies more flexible and dynamic. One could use different social media sites to change the customer brand and product strategy. Through the customer experience management function, companies can accurately know what their customers think of the product. Leading companies spend a large number of resources to influence public opinion.
4. Product Management:
Analyzing the most popular social media sites allows businesses to find out which product trend is popular among customers so that they can adapt their products to the unique needs of consumers. Social media analytics also helps companies evaluate the effectiveness of different marketing strategies used by competitors. The analysis helps social media managers to make better marketing decisions and maintain the status quo.
5. Customer Loyalty:
Customer satisfaction measurement through social media is essential for social media analysts, which can help the company adjust its customer service strategy. It can help businesses manage their customers more effectively.
6. Brand Management:
Social media analytics can help companies track customer sentiment and evaluate the effectiveness of different marketing strategies used by competitors’ brand management. The metrics analyzed include customer comments, search engine ranking analysis, social media marketing, customer satisfaction, and retention.
7. Market Research:
One can also use social media analytics for market research and predictive modeling. Apart from sampling social data on popular topics for a specific audience, businesses can also analyze the data on many issues, including the market share of each product; current trends trending in the online space; what consumers like and dislike about a product; their opinion on new products or services.
Social media analytics uses statistics, formulas, graphs, and other mathematical tools to examine and interpret patterns in social media. It is a high-tech way of marketing research, which gives businesses a direct insight into what their customers think about them or their products and services.
