Social media is indispensable for enterprises looking to maintain a strong competitive advantage. According to recent research by Sprout Social, as many as 98% of consumers plan to buy on social media in 2022. The same report concluded that eCommerce on social media has a market potential surpassing $1 trillion.
Social Media Analytics provides enterprises with actionable insights, metrics, and KPIs. They help businesses track how consumers engage with their social media channels. This knowledge is crucial to formulate your marketing strategy while enabling social media marketing.
For more on Social Media Analytics, check out our blog post from June 2022:
The Importance of Social Media Analytics for Enterprises
In today’s online market, social media analytics are as important for enterprises as they are for small businesses. Enterprise employees are under constant pressure to deliver. Not only do you need to strive for positive business outcomes, these outcomes often need to surpass expectations.
To maintain and increase market share in the age of social media, you need sophisticated analytics tools that provide in-depth insights on performance and user engagement with your brand.
Social media analytics can give your business a 360-degree view of how users are engaging with your brands on social networks. The ability to analyze and take action based on these data sets will lead to a host of benefits. You can enhance the customer experience by identifying customer journey bottlenecks. You can then optimize content for your audience. Insights can also help improve products and services. In the end, knowing what works and what doesn’t on social media makes it easier to improve targeting, increase conversions, and retain current customers.
Enterprise-Level Social Media Analytics Features
As can be expected, enterprises need software with greater capabilities and superior functionality. You need tools that can process and make sense of social media data. This information is essential for making business decisions, branding, and driving growth. For enterprises, this means data collection on a large scale. You need to know what’s going on both on your social pages and competitor profiles. Here are some key features you should look out for when purchasing enterprise-grade analytics software:
Artificial Intelligence and Machine Learning
Artificial intelligence (AI) refers to the ability of a system or program to “think” for itself. Machine learning is a form of AI. Algorithms perform large-scale data analysis that predicts outcomes with growing accuracy over time. The more data you have, the more accurate your model will become. This is key for enterprises with large amounts of traffic on their social media sites. As your analytics platform captures more data, your forecasting will become more precise.
AI-based sentiment analysis tools use natural language processing (NLP) technology to spot trends and show how users feel about a brand. Basic versions of these tools can analyze text, image, and video mentions of a brand on forums or social posts. More advanced features can include voice or even facial recognition capabilities. These features can tell you if brand-related feedback is positive, negative, or neutral.
Benchmarking and Competitive Analysis
Competitive benchmarking gives you a reference point against industry standards and competitors. You can compare rankings in organic search, traffic frequency, and social media views. You can also compare key metrics like engagement share, impressions, follower growth, etc.
Keeping a constant eye on your rivals will help you maintain a competitive edge. Share of voice is an interesting feature to look out for. This lets you know where you and your competitors stand concerning advertising expenses in your industry.
The ability to track and measure the success of your marketing campaigns on social media is essential for optimizing ad spend. Measuring campaign performance can also give you strong hints about content popularity. If traffic is low but you notice that your budget is being spent at the time and place where your audience congregates, you likely need to adjust your content. The best solutions will be able to track paid and organic results in the same dashboard.
As an enterprise, you’ll need a social media analytics platform that can integrate with all your social channels. Up-to-date behavioral data from many sources will help make your social media analysis much more precise. While some software specializes in capturing analytics from specific social media platforms. Enterprise buyers should consider options that work well with all their social channels.
Customizable Dashboards and Reports
Customizing a dashboard means filtering for specific metrics. These can be crafted into tables, graphs, charts, etc. using drag and drop tools.
You can export infographics and reports to support important business decisions. Dashboards leverage automated data feeds, providing powerful insights into your social media performance.
Companies of all sizes realize that most consumers trust social media influencers more than they trust brands. According to a 2021 HubSpot report, over 80% of marketers are convinced that influencer marketing is effective.
A key element for analyzing influencer performance is attribution. Your influencer marketing tool should be able to attribute clicks, impressions, reach, and conversions to specific influencer posts. The easiest way to do this is by offering affiliate links with special discount codes to your product pages.
Key Performance Indicators (KPIs)
KPIs measure the performance of social media analytics. These include important engagement metrics like views, impressions, reach, return on ad spend, conversion rate, etc.
Knowing how to interpret these insights will help you make ad spend adjustments or change the type of content you post on social media.
Segmentation is also critical for formulating your social media strategy. Look out for software that offers at least basic segmentation and detailed demographics. Users are grouped into segments based on online behavior, user data, location, and preferences. The scope of your segments becomes more complex as your business increases in size.
Analytics can help your marketing teams make sense of this information. If you can identify and understand your target audience, your social media campaigns will be more.
Social Listening and Monitoring
Social listening and monitoring tools allow you to track mentions of brands and competitors on social media. These features provide you with constant updates on how your brand, products, or services are being perceived on social media. If you’re launching a new product, you can track how well your niche market is receiving it. You can also observe how consumers react to competitor products and social posts.
Social Media Analytics Tools for Enterprises
Enterprises are more demanding in all aspects of operating a business, and this includes their software needs. Finding the right tool or set of tools can be challenging. Sharp changes in the workflow process can have a significant impact on your teams.
Enterprise buyers should consider their requirements carefully. Look for software that tackles your pain points without disrupting the business process. To help you choose the best software, here are some great social media analytics tools for enterprises on TrustRadius.
Real-time analytics and reporting
|Emplifi Social Marketing Cloud
AI-based social media analytics
Unlimited historical data
Cross-channel content visualization
Engagement data tracking
Social media intelligence
|Listen powered by Brandwatch
|Social listening and monitoring
AI-based data analysis
Khoros Marketing is a Top Rated Social Media Management tool that also boasts a Most Loved award from TrustRadius in 2022. This software also includes elements of Audience Intelligence, Social Media Marketing, and Social Media Publishing.
Analytics features for Khoros include:
- Social listening and monitoring
- Social media management
- Sentiment analysis
- Campaign success analytics
- Competitor analysis
- Real-time tracking
Many Khoros reviewers, like this verified user, look to improve the decision-making process. Others may need to schedule or upload social media posts or track brand mentions across social media networks. Khoros Marketing is a great option for teams looking to leverage analytics data for content optimization.
Enterprise customers have rated Khoros highly for its availability, ease of use, and in-person training. Some challenges included competitor analysis, sentiment analysis, and online training.
- Attribution Analytics
- Audience and geographic segmentation
- Conversions reporting
- Tracking for campaigns, channels, and videos
- Personalized insights
- Shadow traffic analysis
The top-tier Content Advocacy plan also offers up to 20 seats with tracking for as many as 3 websites.
Reviewers like this Social Media Strategist appreciate Parse.ly’s ease of use, fresh analytics data, and monitoring. There have been some complaints about mobile app capabilities and the 13-month limit for historical data.
Rival IQ is a social media analytics platform that’s been highly rated for enterprises by TrustRadius reviewers. Key features include:
- Boosted post detection
- Competitive analysis
- Customizable reports and dashboards
- Influencer tracking
- Integrations with Facebook, Google Analytics, Instagram, LinkedIn, and Twitter
- Social media tracking and benchmarking
- Social listening for Instagram and Twitter
- Social post analytics
- Post tagging
- URL analysis
Popular use cases among reviewers include competitor analysis and engagement data tracking. Social post analytics features include engagement metrics, hashtag analysis, and URL analysis. While analytics integrations are vast, social listening is limited to Instagram and Twitter.
Emplifi Social Marketing Cloud
Formerly known as Socialbakers, Emplifi’s premium social marketing cloud platform offers comprehensive analytics and content intelligence tools.
Analytics features include:
- Analytics and benchmarks
- AI-based publishing and scheduling
- AI chatbot
- Community management
- Content intelligence and analysis
- Influencer marketing
- Social listening
- Unlimited historical data
Emplifi is used most commonly to track campaign performance and optimize content. This product presents reliable solutions at relatively affordable prices, considering its capabilities. Social listening and influencer marketing features are also available. Some users detected a somewhat steep learning curve. Usability ratings also struggle to match analytics and optimization performance.
Listen, by Brandwatch
After acquiring Union Metrics, Brandwatch re-branded the product as Listen powered by Brandwatch. This highly-rated social media analytics software includes advanced features such as:
- Audience segmentation
- AI-based data analysis
- Automated reporting
- Benchmarking and competitor analysis
- Brand monitoring
- Cross-channel social media management
- Customizable dashboards
- Social listening
- Social media management tools
Popular features include a vast consumer opinion archive, customizable reports, and dashboards. Listen specializes in social listening and monitoring. Dashboards and AI-powered analytics have also been well-received by reviewers. Some difficulties were reported with content tracking and sentiment analysis.
Social Media Analytics Tools for Your Enterprise
Finding the right Social Media Analytics tools for your enterprise can be tough. With many options on the market, decision-making to build your tech stack can be tough. Having access to peer reviews from others who seek similar solutions can help make your decision easier.
Visit TrustRadius to check out the Best Social Media Analytics Tools for Enterprise in 2022. If you’ve used any of these tools, please leave a review! Your input helps buyers make the best purchase and vendors make improvements to their products.
Was this helpful?