For brands it’s not enough to only look at past social media trends, the real value is in forecasting what social media trends can be leveraged in the future. However, that’s easier said than done. Predicting the future of social media is both an art and a science, and marketers often get frustrated trying to understand how data can inform their social media strategy going forward.
Luckily, ListenFirst specializes in providing exactly that type of context, both on the owned and competitive level. Based on our extensive experience helping brands understand how to improve their social media ROI, here are three key tips to future-proof your social media analytics.
Tip #1: Determine Share of Voice By Industry And Audience
Brands don’t exist in a vacuum and it’s impossible to move forward with your social media strategy without first figuring out how your social media channels are performing relative to competitors and who is the audience consuming that messaging.
Say you’re a lipstick brand, looking to target your marketing to Hispanic women, ages 25-35. While you want to understand how your brand is performing on social media relative to competitors, understanding share of voice is more than just figuring out whose posts are getting the most Likes. There’s also the need to figure out who are the competitors for the relevant audience and if your brand is reaching the right demographics.
If a different lipstick brand is racking up huge Retweet numbers for their content but it turns out their social media audience is primarily White women in the Generation X age group, then mimicking that brand’s social media strategy still isn’t going to deliver the right audience.
Social media analytics software should be able to qualify the social media audience of both owned and competitor brands. ListenFirst can identify the social audience for Lipstick brands by such attributes as Top Interests, Language, Ethnicity, Geography, Age, Gender, and more which is all vital information for optimizing social media content.
Tip #2: Understand What Audiences are Reacting to and How They Feel
For a brand to have enough information to craft an actionable social media strategy for the future, comprehension of how your social audience is reacting to social media content is essential.
A great example of this is the upcoming movie Sonic the Hedgehog. When the first trailer for the film was released, a sizable amount of the digital audience voiced displeasure in how Sonic looked. This led Paramount to delaying the release of the film so they could rework Sonic’s appearance. When Sonic 2.0 was revealed in a new trailer on November 12, 2019, social media sentiment around the film was 40% Positive and only 6% Negative. The top performing emotions surrounding the new look were Love and Joy. Additionally, “The Animators” was the topic most frequently brought up in the social media conversation surrounding the second trailer, driving an overwhelmingly positive response.
With the knowledge that the biggest criticism of the first trailer had become a huge selling point in the second trailer, Paramount can now double down on showcasing Sonic’s new look in social media marketing.
Content analysis and sentiment analysis are needed in social media analytics software to truly understand if the creative is connecting with your audience. ListenFirst stands out as an enterprise social media solution through the ability to breakdown sentiment not only by Positive Negative and Neutral, but by emotions and topics for a deeper contextual understanding of audience reaction.
Tip #3: Leverage Social Media Measurement Tools for Partnership and Talent Analytics
To build out your audience, partnerships with influencers and other brands is more important than ever before, and authenticating the value of these partnerships is a service the best social media analytics tool should be expected to provide.
If a resort wanted to identify an influencer that would help encourage Northeasterners to go on vacation in Florida, ListenFirst can help. Using Instagram analytics and Twitter analytics, we are able to vet potential partners by such criteria as their relevancy to the travel topic, the geography of their audience by media market, and the response and engagement rate the influencer generates. Additionally, ListenFirst provides post-campaign analysis to track the level of brand lift the partnerships posts created to evaluate if the partnership is something worth continuing.
Benchmarking is just as vital around partnership analytics as it for owned and competitive insights, and the more data social media analytics software can provide about potential brands and influencer collaborations, the better.
The formula for predicting social media trends is focusing on data that can actually inform social strategy. Through teaming up with an enterprise social media solution like ListenFirst, which is optimized for actionable insights, brands will gain access to the owned, competitor, partner, and audience data needed to positively impact social media ROI.