Get an overview of the market
First and foremost, it makes sense to explore and reevaluate what is happening in your industry overall. Have a look at its current state, figure out what your competitors have been up to and how the pandemic has affected them. Official reports may claim one thing, and social analytics can demonstrate a completely different situation. Do not miss out on this opportunity to get access to valuable insights.
Apart from that, what are people satisfied and disappointed with? What do they want and, most importantly, need in these unstable times? And how can your company bring value to them? Really, though. These are the questions you need to answer, and social analytics programs can help you do that. Keep in mind that solid research is key.
Evaluate your brand health
Use social media analytics to monitor what is going on with your brand in the outer world in terms of perception and reputation, audience demographics, and so much more. You need to know how people react to what you sell in natural circumstances, where, and how they do it. Being aware of these nuances enables you to update your marketing strategy and meet your current customers and target audiences where they are.
If you aspire to build a company that will stay relevant in the future, you need to stop dealing with data manually whenever you can and rely on software as much as possible. Sure, your team members can keep track of the latest tweets and respond, but how efficient is this approach? And what happens with all those posts about your services or products that do not feature your brand`s name? This is a task that is impossible for people to deal with while also being something tech can easily do in no time.
For example, when Oatly, a Swedish oat-milk product brand, signed a new investment deal back in August, they received an extremely active and negative backlash from their customers. It is clearly visible on the graph below.
How would your business deal with a similar challenge? We have no idea, but we can assure you that if you were using social analytics tools, the outcome would be much better than without them. Why? Because you would get notifications about hot conversations as they were taking place, and you would be able to respond on time instead of finding out about a crisis from the media outlets. Sometimes customers choose unexpected platforms to express their opinions, but software keeps track of everything and helps you avoid missing what matters to your business.
And even though there is a clear focus on social media platforms right now, web analytics is just as important. You need to know where people come from to your site, what they do there, and for how long, as well as when and why they leave it. Someone from your team needs to get used to using Google Analytics regularly and then add extra tools to improve your potential customers` experience.
Make data-based decisions
Software can help you align your business goals with your marketing strategy. Consider implementing it in your practice to access genuine feedback from your customers, understand them better, find flaws in your communication and deal with them, discover data-driven insights and rely on them to make better-informed decisions.
Based on the latest research, less than one-third of all companies rely on the web and social analytics tools on a regular basis. And they are thriving! If you are eager to achieve long-lasting success, it is time to join them and help your business grow in 2021.
Would you like to explore social analytics? Request our free demo.