Social Analytics Software: The Solution You Need
Social media marketing and social analytics software are increasingly popular among companies. After all, in the United States, an estimated 72% of the population uses social media in some capacity. With the U.S. population nearing 334.8 million as of May 2023, that works out to approximately 241 million people.
By marketing on social media, companies have a chance to connect with their audience for less than many other traditional advertising methods. However, ensuring those social efforts are effective is critical to secure a strong return on investment (ROI). By using social analytics software, that’s far easier to achieve. If you’re considering social analytics software for your company, here’s what you need to know.
What Is Social Analytics Software?
Social analytics software is a solution that gathers data from social media channels and analyzes the information to help companies make informed business decisions. These programs go far beyond tracking likes, follows, clicks, and impressions. Instead, they can also gather information about target audience trends, customer sentiment shifts, ad campaign effectiveness, ROIs, and much more.
Why Do You Need It?
Companies need social analytics software to ensure they can harness the power of collected data to achieve a competitive edge and boost results, such as increasing customer sales. The tools let them analyze social media ad campaigns to determine which strategies are working and which are falling short, leading to better ROI.
Plus, the tools can help companies properly target their audiences, ensuring ads are presented to the correct segments. Most social analytics platforms also track engagement – such as likes, shares, and comments – to monitor the effectiveness of nearly any post type.
Further, these solutions can assess how often various efforts lead to conversions and monitor shifts in customer base sentiment or related trends, allowing organizations to remain ahead of the curve as the market tips in a new direction. Together, this helps companies secure a competitive edge, all while ensuring their social media ad dollars are invested wisely.
Beneficial Features to Consider
Most social analytics software programs handle basics like reach and engagement analysis. Additionally, data about conversion rates and related sales is a typical offering. However, some platforms go further, offering additional tools that are worth considering.
One beneficial feature to look for is competitor tracking. By finding a social analytics software solution that allows you to monitor the performance of direct competitors, you can figure out what approaches are connecting with your audience or identify a differentiator that can help you gain better traction.
Social team productivity tracking is another helpful feature. This capability lets you monitor response times, problem resolutions, and similar details to ensure the employees that are overseeing your social channels are meeting expectations.
Hashtag trend analysis is also worth finding when you’re choosing social analytics software. This feature provides built-in tools that let you find hashtags that are gaining traction with your audience, allowing you to update the ones you use as interest in specific hashtags is on an upswing.
Top Provider Options
You can streamline your search for a suitable social analytics platform by focusing on top providers initially. Typically, these solutions have robust tool sets and reputations for solid customer service. Here is a list of some of the leading social media analytics software providers:
- Brandwatch
- BuzzSumo
- Google Analytics
- Hootsuite
- HubSpot
- Keyhole
- Sprout Social
- Talkwalker
