Most people I talk too think of Social Media Analytics in terms of a marketing tool. How many Likes, Shares, Follows, etc are my posts getting. Some take it a bit further to look at engagement factors as well. And a very few use it to measure the Return On Investment when it comes to the cost benefits of doing social media marketing.
All of the big social media sites like Facebook, LinkedIn, Twitter, etc. have built in Analytics tools to help businesses see the impact of their social media efforts in theses terms.
But who is using social media to listen to their customers? Again many have someone responsible for monitoring sites to address customer complaints. Some have teams that do this 24/7 and try to spin every negative post into a positive. And a few actually are proactive in engaging customers via social media by anticipating needs.
And who is using social media to keep track of their competitors? Again some do follow them. And a few actually track competitor behavior and use their findings in setting strategy.
And only a few layer their social media Analytics on top of demographics. LinkedIn and Facebook have built in demographics right there with their Analytics available to users.
So I guess the question is are you getting the most out of social media?