Social Media Analytics is presently used as a tool to monitor, analyze and elucidate the communications of the customers over the digital touch points. These days, companies need to market their products through different marketing channels that affect online purchasing decisions. Social platforms like Facebook having billions of active users inspired the companies to go for online marketing as it gave a platform to reach customers of all age groups belonging to different nationalities in a single place itself.
Social media analytics is imperative in providing link between the customers and the company’s products by assorting the suitable purchase funnel that can raise the profits for the company. The social analysts can derive insights related to awareness, interest and purchase affinity of a product looking at customer interactions and engagement in the social media channels. This data helps to know what stops customer from going for a particular product. Social media analysis can also help to check for consistency in marketing messages across different purchasing funnels.
The first stage in promoting social media analytics involves the attention stage wherein companies focus on introduction of products to the market. This stage emphasizes on deriving the metrics regarding awareness of their product and promotions by the customer. The Interest stage on the other hand measures the engagement heights by performing study to find the effect of certain attributes in discovering potential customers. While at the Desire stage social analytics helps to find the attributes that ranks and make customers go for their product compared with competitors. The Desire stage helps to resolve persisting problems with the company. The Action stage is the stage that plays its role after customers have done with their purchasing decisions and in situations where the customers may or may not buy the product .At Action Stage, Social Analytics with some metrics finds the reason that stops the customers from buying the product. For this reason Social Analytics has become a great source to determine the purchasing funnel.