The ability to dive deep into customer chatter is an unparalleled opportunity for business, it helps to identify and remove any hurdles that can potentially prevent them from providing a better customer experience. The best tools to achieve this goal is social media analytics. However most of the tools available online provide information from the physical metrics such as likes, follows and so on. These ratings are helpful in finding the popularity if the product but they lack and insight regarding how to make the product better and improve your business.
This is one of the most difficult to understand tools, such tools are used to understand the information received by the social media monitoring tools. The sees the flow of customers, which site they come from, how long they stayed on the site and what their activities are on your website. The main objective of social media analytics are to analyze the trends of the market, it provides on demand solutions that integrates, analyzes, archives and enables organizations to act on intelligence that it gathers from online conversations on the various social websites.
Through these tools you can focus on a specific part of an online conversation to improve your response time and stay updated to the shifts in the market place. These analytics also help you to monitor your ROI (return on investment) rate. This is mainly done by checking the flow of traffic and monitoring the sites where maximum traffic comes from. It can be by clicking on an ad, it can be through search engines, social networks or any other marketing tool used by your business. Their use helps in better understanding the current market trends and enables you to make a better decision for investments in advertisements and marketing.
What business need is a clear picture of the online market and their position in it. This information is provided to them by social media analytics, this tools is most widely used by social business intelligence or the department that provides intersection of the customer feedback. Social analytics turn volumes of unstructured online conversational information into real time performance indicators. These tools provide the best opportunity for business to improve the customer experience and bring returns on the investments. This combined with social CRM and social media dashboards can improve the customers experience on your website, not only would the customers be satisfied, you too would be satisfied as you conversion rates would go up increasing your profits hence leading you to the road to prosperity.