As senior leaders of organizations all across the business world strive to hold on to the rewards presented by social media analytics, there are those who manage to do it the smart way. Using every known trick in the book from tracking customers on Facebook to analyzing their preferences via social feeds, these leaders boost their businesses in inventive ways.
Ignoring social media can prove to be quite detrimental to the growth and reputation of an organization. If you think this is too strong a statement, these statistics will tell you otherwise.
1. On an average, a user spends around two and a half hours on social networks each day.
2. On Facebook, the largest social network on the Internet, the renowned ‘Like’ button is pressed 2.7 billion times a day.
3. When Twitter’s on a roll, it processes more than 1.4 million tweets per second on a global level.
4. No cable network matches the viewership of YouTube in the age group of 18 to 34.
5. Location-based apps such as Yelp and Foursquare are not far behind either, with over 45 million users on Foursquare alone.
6. The +1s on Google+ influence web page rankings on the Google search engine.
7. LinkedIn is now officially a significant player on the professional front, with at least 22% of members having between 500 to 999 first-degree connections and 19% boasting of at least 301 to 499.
Facebook tops the list of social media networks and for solid reasons too. It gives businesses access to specific advantages unlike any other platform on the internet.
1. The network has more than 1 billion active users on it, accessing their accounts on a regular basis.
2. It offers a platform that allows businesses to build a rapport with existing customers as well as well as prospective clients in a personal, non-intrusive manner.
3. The activity ratio is high too, with users sharing 1 million links, every 20 minutes.
4. Sharing of photos, videos and links is a daily thing here, enabling businesses to tap various media potentials on a single platform.
5. 4.75 billion items are shared on this platform every day.
6. The data related to subscribers’ age groups is great too, with 25% users aged 16 to 24, 31% aged 25 to 34 and 23% aged between 35 and 44.
7. The much awaited ‘Buy’ button will take things to a different level altogether, especially for players on the retail platform.
These and several other advantages are up for grabs and every business is beginning to see why Facebook as well as other social networks are a goldmine that only needs the sieve of analytics to get things going right.
Now that we have your attention with those promising statistics and figures, here’s how social media analytics can streamline the data mechanism so that the rewards in store on social platforms such as Facebook are made accessible to your business.
1. 2.5 billion gigabytes of data is generated each day and social media analytics helps your business target the specific data that is directly related to your business.
2. Prized data such as locations in real-time, hobbies and interests, product preferences, relationship status and sharing of a buying experience is accessible.
3. Access to specific data points is possible through dedicated tools, all with the permission of users.
4. Tuning in your social media analytics software to the bigger picture of your brand or product advertising campaign makes it all easier.
5. Honest reviews and feedback is generated on a social platform such as Facebook, helping your business get an unbiased picture.
6. Data gathering and analysis is a faster process now, and can be linked to on-the-go decision making.
7. Social media analytics helps cutting down the noise generated on a wide-ranging platform such as Facebook.
At Conneqt Business Solutions, we take social media analytics very seriously. Our Business Intelligence – Analytics and Research wing puts all the right tools to work, enabling business leaders rake in the advantages of social platforms like Facebook.
So how do you explore the opportunities presented by social media? Do you rely on your Social Media Analytics partner for the job? Do you have your own ways for tracking customers on Facebook? Let us know in the comments section below.