The Basics of Social Analytics and How to Measure

The basic purpose of every business is to generate profits. If your business is not making profits but incurring losses, there’s quite a list of things you need to look at. One of those things is how effective your communication is with your clients and customers. This is done through social analytics. Through this form of analysis, you’re able to determine where the problem is in regards to the business’s flaws and how well to handle them.

With the advancement in IT and communication, almost everything is automated. With the introduction of social media, companies are at a better vantage point of being able to judge whether their products and services are good and whether the customers are satisfied. When a product is introduced to the online market through social media sites like Twitter and Facebook, the number of follows and likes respectively determines the audience’s take or reaction to the product. With this, it takes a short time to know whether or not your product needs some changes. Through analysis of this, you’re able to know what the views of the consumers are.

How can you really judge or analyse what customers think and feel about your product? Take these four yardsticks:

• Conversions- this refers to how much of the product’s URLs on social media sites, directing web traffic to your website where they can get the full information about your product. Through this you’ll know your product’s impact on a social level.
• Network Referrals or shares- many social media sites have the ‘share’ option that allows people to ‘spread the word’ about your product. The amount of shares your product receives and how much traffic hits your website will show how people engage with the website and the product.
• Social media site plug-ins- this feature allows people to share content from your website directly to their social home pages. This is sharing in a sense but faster and much more efficient.
• Landing Pages- this is gauge as to what is being discussed on social media sites and forum in regards to your product. What people talk about shows what they like and prefer. This will give information to the company on what to work on and what not to work on.

The four are, in effect, how a company can measure the success or failure of their product. In this electronic age, it is best to be in the know and use what your customers are using. Through social analytics, you’ll be able to get the right information from people (customers) who will direct you to making what is really needed. They won’t come out straight and say it to your face but by how they take the product and how they talk about it will tell you a lot- if you take time to listen. Social analytics can either be the difference between success in form of huge profits and failure in form of losses. Smart business people will ensure they’re using this tool so as to give the best products.