Businesses and marketers are slowly but surely recognizing the value of social media. More are using social media analytics tools in order to drive business.
According to a report by eMarketer, nearly two-thirds of business organizations in the U.S. – or exactly 61 percent – are responding to the release of such tools. They’re using these for multiple purposes, such as:
- Campaign tracking (60 percent)
- Brand analysis (48 percent)
- Competitive intelligence (40 percent)
- Customer care (36 percent)
The implementation of social media analytics tools is also being made for product launches, media analysis, risk management, and partner monitoring .
(Check out: “How Online Reviews Affect Business Reputation”)
eMarketer’s report is based on a study conducted recently by Demand Metric, which surveyed business organizations and marketing professionals across America. Respondents cited staffing, funding, and resources as major obstacles to their social media marketing objectives, but it’s nevertheless clear that an increasing number are recognizing the value of analytics tools, with over half of the recorded takeup occurring in the last two years.
One of the major areas of concern for business owners and marketers alike is online reputation management (which may fall under either brand analysis or customer care). As the social media landscape expands to include online review sites and ratings aggregators like TripAdvisor, Yelp, Google+ Local (Google Maps), Citysearch, and Foursquare, the industry is becoming increasingly aware of the ways online reviews make a direct impact on consumer behavior and business reputation – and, consequently, sales and revenues.
Are you a business owner or marketer? Sign up for a free trial of ReviewTrackers, an online reputation management platform for collecting, centralizing, and analyzing consumer-generated online reviews of your brand or business. ReviewTrackers tracks data from all major review sites. For more information, visit our Tour page or drop a line here. Looking forward to hearing from you!