What is Social Media Analytics? How does it help your business?

Social Media Analytics is the method of collecting information (data) from the social media sites like Facebook, Twitter, LinkedIn and blogs etc. and then analysing that information to make better business decisions. Traditionally market surveys were used to be carried out intensively to draw out information from the market, but in the age of internet and virtual scenario, analytics plays an extremely critical role in taking important business decisions. For an e.g., your company launched a product a year back, but suddenly its sales have started dipping from a month. Now you want to know why…The information from the social media sites will give you the answer. Further, you come to know the main reason about sales dipping that your competitor launched a similar kind of product…so further you would like to know its features and popularity of that product among your customers. At this point of time, data gathered from the social media analytics will come in picture to draw out the above inferences because nowadays, every like, every post, every tweet contains useful information. For businesses, presence on FB, Twitter, and LinkedIn etc. is not limited to show existence of their business but to gather various kinds of data which can help in various functions. Businesses can use the information for various purposes and to achieve various goals. But for that, firstly, you need to define your business goals. Goals can be like for an example to find out whether your new product will increase your overall sales? In achieving that goal, data from the social media can help. They can be like feedback on a particular...

Define your Social Media Marketing Strategies with Yodigi

Social Media is a powerful place in your marketing arena. With proper plans and strategy formulations, it is a place where you can develop and sustain a strong connection with your existing and prospective clients. But many a times, getting lured by its thrill and freedom, marketers jump on to social media without any prior plans which can prove as a disastrous failure in their objectives. Social media is that tool which can prove as a magic wand to your success if strategized in a planned manner but it can equally prove fatal to your goals if its capabilities are not utilised properly. Whether you are planning to take your business on social media for the first time or whether you have been on the platform and wants to redefine the strategies, one needs to take steps as follows: 1St Step Get Educated on: What is social media Understand case studies of the success of social media for businesses Latest trends 2nd Step Setting Objectives and Goals: While working on goals and objectives, be very clear on: The reason for which you have joined social media Business Goals, Vision and Mission Aim of what to achieve from social media Adopt S.M.A.R.T. Strategy to set up goals and objectives, they should be Specific Measurable Attainable Relevant Time-bound Your objectives can be: Develop effective customer engagement Establish good reputation for your brand Understand customers and have customer-driven approach Achieve High sales 3rd Step Setting up Route to achieve goals and objectives: Identify and target initial platforms and opportunities in others Understand any risks involved and set clear policies for social media...