Social media audits are about understanding the meaning behind data over time. It delivers actionable business intelligence for strategic activities. A social media audit can help determine if a strategy should be continued or a new one employed. Audits also aid tools currently in use and the potential impacts of new software applications. There are several analytical tools being used today:
- measuring consumer sentiment
- competitive analysis
- maintaining brand health
- variable trend tracking
- channel assessment and content insights
- staying ahead of crisis management
Assessing Engagement and Content
Engagement is key for current and potential audiences. It involves assessing channels. Content compliments engagement by drawing in consumers. Where a social media audit can make your audience aware of your business, content is often the first experience consumers have with your product or service. Content analytics looks at a series of basic questions about your audience and their engagement patterns. By focusing on content and engagement together, you maximize first impressions.
Market Strategy
Once a consumer base is known, then solidifying and refining strategies becomes the focus. Two key factors impact a marketing strategy: trend forecasting and competitive analysis. The forecasting of trends can be applied to both short and long term data. In a digital world that operates at increasingly faster speeds, staying in the know often determines the winners from the losers. Modern tools are capable of tracking trends as soon as they begin to emerge. Knowing which ones will likely be short-term or long-term trends aids in the efficient allocation of company resources.
Identifying trends and your competition go hand-in-hand. While consumers can dictate trends, competition will often shape the marketing strategies of new products. Whether it’s a new computer chip that revolutionizes an industry, or a shortage of resources that shifts innovation, companies must be aware of the activities of their competition. Both resources and consumers are limited. New companies, a shift in audience preferences, as well as, competitive restructuring, can instantly change a marketplace. Your company’s marketing strategy needs to be as nimble in responding to your competition as it is to short-term trends.
How Crisis Management and Brand Health are Related
It is always important to stay on top of crisis management. Predictive tools can dramatically help maintain and improve a brand’s health. Sometimes responding to a crisis means that it is already too late to prosper in affected ventures. This is why consumer complaints cannot be ignored. They can go viral very quickly which can bring a business to a standstill. Unhappiness is measurable. Understanding the factors that impact brand health should be seen as critical an opportunity as seeking out new consumers.
Consumer Sentiment is Part of NetBase’s Complete Solution
The importance of sentiment in a social media audit cannot be overstated. Understanding it provides insight into the minds of consumers. It also aids in prioritizing data. Auditing sentiments reveal what consumers want and their influences. NetBase is also among the select companies that provide highly-productive tools for measuring consumer sentiment.
Few social media analytics companies deliver robust solutions. NetBase consistently outperforms the competition by helping to meet objectives in a variety of ways. It excels in market research, product innovation, consumer relations, customer service, and brand health strategies. Whatever your social media analytical needs, NetBase can match a solution. The company succeeds because it understands the market as well as anyone. Combine this with the ability to deliver innovative technical solutions, and NetBase is often the best option.