Photo: iStock
Photo: iStock

Social media metrics for new-age firms

Social media management platforms have matured substantially and use AI-powered analytics tools

In recent years, a central feature of the digital strategy of new-age companies has been brand building using powerful social media tools such as Facebook, YouTube, LinkedIn, Twitter and Instagram. This has created a potent platform for companies and their brands to connect with their digital audience.

Today’s consumers are demanding and expect companies to engage with them 24X7, making their brand experience personal and sincere. This has largely been possible due to the advent of social media that has turbo-charged companies to explore innovative branding strategies. New-age companies also use multiple machine learning algorithms to generate user media feeds and analyse consumer behaviour.

Organizations have come to recognize social media as possibly the central tool for gathering insights about and reaching out to customers —both B2B and B2C—and guiding them from discovery to retention.

Today’s new-age companies leverage social media to analyse their online performance metrics and gather critical information about their target audience. These metrics are classified under four basic categories:

Awareness: Metrics that estimate the amount of share of voice about your company/brand among your current and potential target audience.

Engagement: Metrics that explain how audiences are interacting with your content. (A metric which is most important for content creators/media publishers)

Conversion: Metrics that demonstrate the effectiveness of your social engagement on popular platforms such as Facebook/LinkedIn.

Consumer: Metrics that reflect how active customers think and feel about your brand.

Role of social media metrics Today’s organizations must work hard to differentiate themselves from competition in a sea of digital content. They should leverage the power of social media platforms to connect with their target audience who are available for engagement on multiple touch points through social media. This will help make their presence felt in the face of stiff competition, offering superlative content across varied platforms.

Why qualitative content remains ‘king’ New-age companies should have a keen understanding of their target audience--where they consume, what they want to consume and when they consume.

Originality, volume, velocity and veracity of content is the secret recipe to win in this category, as high audience reach with low content quality can prove to be detrimental to the overall brand perception across social media circles.

The real challenge starts after you have grabbed the customer’s attention. While it may appear that a host of players are competing in the same space, the target audience gets associated with each brand, publisher and platform at different levels. It is, therefore, imperative for each brand to create a social media identity of its own.

For example, AIB will not be looked at as Terribly Tiny Tales is, and so on. It is also important to collaborate with multiple yet like-minded content partners, carrying a unique identity of their own, while catering to niche demands of customers. Adding videos is fast turning out to be the new game changer and the most effective way to reach the target audience.

Dynamics: content creators and content aggregator Social media amplification is a win-win situation for both. News publishers use personalized alerts to reach a vast audience by tracking their online behaviour through social media analytics tools. Content aggregators are used to access a variety of news sources and keep track of breaking news alerts around the world.

What lies ahead Social media management platforms have matured substantially and use AI-powered analytics tools to sift through millions of data points to identify trends and consumer sentiment. If new-age digital content-focused businesses continue to follow a multi-layered approach, with each aspect of the business aligned with the corresponding metric, social media will proliferate further into the consumer’s consciousness.

Umang Bedi is president of Dailyhunt.

To read more stories from Digital Dossier, click here.

Close