As a social media analyst, is it easy for you to anticipate social media trends? Do you have any idea how many customers you are bringing through social media? Do you know what your target audience expects from your brand and what they perceive from your content and posts? Is your social media strategy working better than your competitors?
If you are skeptical about the answers to all the questions mentioned above, it’s time you get started with social media analytics. It will help you measure your brand’s performance on various social media platforms and assist you in improving it to get better results.
To keep track of all your social media accounts and enhance your brand recognition in the social marketing world, you can use the best social media analytics tools and techniques.
The right analytics tool will help you integrate and analyze all your marketing and audience data so that you can make better business decisions. The tools will help you access valuable insights that you can use to enhance your marketing efforts and strategies.
If you also want your brand to outrun your competitors in the socially competitive market, it’s high time that you get serious about social media analytics or get pushed out of the competition lane.
Here are the best social media analytics techniques that you can use in your business processes:
Computational science techniques: The technique focuses on three main areas, and that is:
Computational statistics— it covers the quantitative concepts of social network analysis and uses computationally intensive statistical methods, like resampling methods, local regression, kernel density estimation, principal components analysis, and Markov chain Monte Carlo methods.
Machine learning: Machine learning helps in automating the process of data gathering from different social media channels and categorizes the same based on their variables.
Complexity science: Complex simulation models make it easier to predict the difficult to anticipate systems derived from statistical physics, nonlinear dynamics, and information theory.
The deployment of techniques can be done in two ways:
Simulation modeling—The analysis model that can be used to test hypotheses. The model is used to predict the dynamics of systems to test the validity of the underlying assumption.
Data mining: The technique of extracting hidden patterns in large volumes of data, using sophisticated differential heuristics, equations, and statistical discriminators.
Sentiment analysis: The sentiment analysis technique can determine sentiments or emotions related to the content or post you share on social media channels. It is divided into five subtasks:
Sentiment context: To extract opinion to know how the context varies from people to people.
Sentiment level: To conduct text analytics at the document, attribute, or sentence level.
Sentiment subjectivity: To decide whether a given text expresses a negative or a positive opinion or is factual.
Sentiment orientation/polarity: To decide whether an opinion in a text is positive, negative, or neutral.
Sentiment strength: To decide the ‘strength’ of an opinion in a text.
Naïve Bayes classifier (NBC): One of the simplest techniques a social media marketer can use to extract and analyze data. The classifier classifies data in two steps:
Training Step: In this step, training samples are used to estimate the probability distribution parameters and assuming features that are conditionally independent.
Analysis/testing step: For any given test sample, the method helps in computing the posterior probability of that sample belonging to each class. Then the samples are classified based on the largest posterior probability.
Summing up
These are the techniques that you can use to measure the performance of your posts and ad campaigns running on different social media channels. You can also use the best social media analytics tools that will help you break the complex data silos and get useful information.
On social media platforms, making a good impression of your brand can help you boost your online traffic, increase conversion rate, and bring more revenue to your business.
As more businesses are approaching social media platforms to build their brand recognition, the competition in the virtual market is getting tougher. To thrive in such an environment, you must know what strategies your competitors are using to attract the right audience so that you can use better tactics to get a significant share of the target audience.
To be one of the top social media influencers, start investing in the right social media analytics.