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What is Social Media Analytics and Its Types?
09 May 2022
You are certainly no stranger to what social media is. In recent years, the use of social media has continued to increase along with the endless advances in technology. Everyone to business companies has their own social media accounts. The pace of communication becomes easier because it can be done online without having to meet in person.
However, did you know that using social media alone is not enough for businesses? You not only need to have a social media account but also have to analyze the data obtained from there if you want to grow your business. This analysis process is then called social media analytics. Then, why is this important and what types of social media analytics can you use? Read more here!
What is social media analytics?
As briefly explained above, social media analytics is necessary if you want to grow your business. This analysis process includes the stages of collecting, filtering, and gathering data obtained from social media. However, you need to know that social media analytics is not only about the number of likes, comments, and shares, but more than that.
Therefore, the platform used is not enough from Google Analytics but requires special software designed to absorb the most frequent searches that appear related to the business company. That is, social media analytics not only assesses the success of brands or brands in marketing their products but also captures opportunities and presents new solutions to consumers and society in general.
Why is social media analytics important?
Social media analytics is important for growing a business. However, what is the reason that this is considered important? The presence of social media makes the spread of news faster, including when the image of a product is tarnished after a bad testimonial from a consumer. This is where social media analytics comes into play.
When there are bad tweets about the quality of products or services provided by certain business companies, business owners can immediately find out about it and try to respond to complaints as quickly as possible. This can also trigger companies to create new, better strategies.
4 Types of social media analytics
After knowing what social media analytics is and why it is important for business development, let's also know the types which consist of four groups. The following is a complete explanation of the four types of social media analytics.
1. Diagnostic analytics
The first type of social media analytics is diagnostic analytics. This analysis serves to find the cause of why a problem can occur. Instead of only providing an overview of the campaigns that you have run along with a review of data regarding the number of likes, comments, and shares, this analysis can provide insight into the marketing methods that are successful and not from your company.
2. Descriptive analytics
Simpler than the previous point, descriptive analytics provides an overview of the condition of your business on social media. Analysis can be done by peeling netizens' comments on the products or services you provide. Data including likes, comments, shares, followers, and so on will be displayed in the form of visuals and reports that are attractive but still complete.
3. Predictive analytics
As the name implies, predictive analytics is used to predict events that may occur in the future. This predicting activity can be taken from data obtained from social media, for example by looking at the responses of netizens who want to buy your new product or by recording the visit history on a business website after it is announced that there will be a new product. Thus, the company can estimate sales figures.
4. Prescriptive analytics
As a follow-up to the previous point, prescriptive analytics enables businesses to develop strategies after predicting what will happen in the future. For example, if sales are not predicted to be as busy as previous product launches, the company will have a strategy or plan B in order to avoid this unwanted event. This will certainly benefit the business because it can be better prepared for various scenarios.
Now, you understand what social media analytics is and why it's important for businesses. Well, if you are a business person who is trying to develop it, there is nothing wrong with using the Social Media Analytics service from PT VADS Indonesia to make business affairs easier and more practical. Come on, grow your business with us!
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