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The How and Why of Using Social Media Analysis in Business Decision-Making

Want to make more informed business decisions? Develop a product that solves pertinent problems for your customers? Create a powerful marketing strategy that hits all the right notes? Engage with your audience and build authentic connections? Regardless of your organisation’s needs and objectives, social media analysis can provide you with a wide range of research solutions.

Why Should You Analyse Social Media?

With billions of users worldwide, social media has become an integral part of modern society. The ease of connectivity it offers brings people together, providing a place not just for friends and like-minded peers to bond, but also for political debate and awareness raising, and for brands to connect directly with their customers. 

This, along with increasing internet and smartphone access, has gradually shifted life from offline to online across the globe. With the Covid-19 pandemic accelerating digital adoption, there is now an online option for everything, be it work meetings, fitness classes or grocery shopping.

Social media plays an important part in all of this, serving as a channel for people to communicate with others, share their thoughts, seek advice and keep up with trending conversations and current affairs. It has moved beyond its primary functionality as a user-to-user communication tool, turning into a vital source of information for brands and consumers alike – a core pillar of today’s information society.

Consumers now use social media reviews, posts and conversations to inform their purchase decisions and shape their opinions about the brands and products around them. An influencer or a friend raving about a product could inspire their purchase in an instant. Equally, someone sharing their poor experience has the potential to damage consumers’ perception of the brand in question.

Social media monitoring and analytics help to extract valuable insights about consumer behaviour and opinions from these conversations. These social insights can then inform different aspects of a brand’s business decisions – from customer service to product development to marketing and sales.

How Social Media Analysis Helps Your Business

Data gathered from organic online conversations will provide businesses with an honest and in-depth understanding of consumer perception, needs and values. These are insights that will be critical in making informed business decisions.

  • Competitor Analysis & Industry Benchmarking

    Brands need to understand their competitiveness, not only from online visibility across all channels, but also in how consumers view them. Need states analysis will allow brands to identify opportunities to tailor communications and service/product offerings that best cater to the ever-changing consumer requirements. 

  • Reputation Management

    While consumers can reach out to online support channels for their problems, they will also share their experiences online, where conversations can take place among followers or like-minded individuals. Having real-time access to this information allows businesses to quickly react and address consumer concerns, enabling them to maintain a positive brand image and engagement.

  • Product/Service Development

    Consumers’ perception of current product/service offerings in the industry can reveal insights into unmet needs that are valuable for product/service development.

  • Campaign Evaluation & ROI Measurement

    Monitoring conversations relevant to an ongoing or recently launched campaign can provide information to consumer perceptions of the campaign pre, during and post launch. These social insights allow brands to quickly adjust content and messaging to drive visibility, positive engagement and, ultimately, purchase decisions.

Understanding the Consumer Mindset with Social Media Analysis

With the ability to closely monitor and assess online conversations, social media analysis can provide a deeper understanding of the consumer mindset. Social media listening looks into how people are discussing your brand or what your target audiences are posting on social media and other open-source platforms. By analysing these conversations, social listening will help you identify the opinions and preferences influencing their decisions.

Social media analysis, executed by a team of experienced analysts, will help you gain a nuanced understanding of your target audience’s behaviours and motivations.

The right social intelligence solution can look for patterns in consumer behaviour to identify any shifts in consumer mindset that could change how they perceive or interact with your brand. It can tell you what they like or dislike, what interests them in the moment, who is influencing their opinions, what motivates them to choose one product over the other and how they feel about a certain product or brand. These valuable social insights will help you develop data-driven strategies that have real impact.

How Convosphere Delivers Human-Driven Social Media Analysis

Combining powerful AI with our expertise, Convosphere delivers human-driven analysis to get precise social insights that can inform your business decisions. We make social intelligence actionable to show you your key competitors and their strengths and weaknesses, benchmark your performance, fine-tune your marketing strategy, inform product development, empower your go-to-market plan or even support recruitment efforts.

Convosphere helps you scale your global social media listening efforts by delivering accurate insights based on cultural nuances and linguistic differences across multiple markets. Working with specialists in each market, we deliver local cultural intelligence from various countries – from Russia to China, from Turkey to Nigeria.

At Convosphere, we take a consultative approach and provide best-in-class specialists to deliver the social insights you need to make critical business decisions. Our tool-agnostic team comprises 150+ in-market social analysts, fluent in 100+ languages, who specialise in social media listening and analysis using quantitative and qualitative analytics methods to extract actionable insights.

Our team of insights analyst can help you:
  • Get real-user feedback on the products and services of your competitors.
  • Discover cultural insights into your customers.
  • Segment your target audience accurately based on unique variables.
  • Identify audience opportunities using buyer persona research.

Contact us today to learn more.

Our global insights team conducts social listening in over 100 languages to answer our clients’ most important business questions with actionable insights that deliver impact.

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