Executives today have the opportunity to see visualization of social media analytics on a large-scale in real time. Picture a wall of oversized flat screens with scrolling images and numbers that quickly provide insights on the most shared images from your product launch, what’s driving share of voice and loyalty for your brand, the number of mentions a brand is getting on social media, whether those mentions are negative or positive, and how a new product launch is being received in Dallas or Dubai.
Now, companies are able to harness and properly visualize the unprecedented and valuable amount of information that can surface in social in an instant. The possibilities that accurate and actionable social media data present for companies eager to grow sales and nurture brand are nearly limitless.
You can leverage the latest innovations in social analytics to help you run your business like you run your insight for shareholders. There are very clear metrics for looking at the shareholder health of your business (stock price is only one). Are you demanding the same from the social analytics features that are available – so you can operate at the speed of the social consumer?
Here are some tips to get you there:
Executive Engagement: Today, social is so important to the health of a business, especially a consumer direct business. And it’s the executive team who is ultimately responsible for business action. By bringing visualization into your reporting best practices, you can see social trending along with other critical business data you monitor in real time.
Be the early adopter: Start now. Be an early adopter at something that’s only going to continue and grow and become standard. This could become an executive mandate – the expectation that what’s trending visually on social is as transparent and available as the stock price. This also sets the standard at the top that social is a significant information source.
Action over insight: Action is required more immediately than ever before. Business at the speed of social means you can readily miss the window for opportunity — the opportunity to capitalize on a positive trend or the opportunity to contain a crisis in social before it hits the tipping point. Visualization in practice helps you make informed decisions to drive the right action at the right moment.
Know the KPIs: Communicate to your social teams the key drivers of your business. Savvy social media analysts have the capacity now to surface and visualize almost limitless flavors of data, everything from customer trends to brand passion, to how a competitor is faring. It’s incumbent on executives to be clear on the data they need visualized in order to have the right information at hand and drive meaningful internal discussions and action.
Make it Iterative: Remember, it’s an iterative and ongoing process. There’s a bit of trial and error, because depending on the industry, some topics are going to be more powerful and meaningful at certain times. It’s okay to make adjustments as you go, recognizing one path may not work, but another really adds value over time.
Pay Attention to Influencers: Understand if a key influencer (blogger, industry analyst, etc.) is the driver behind a social moment. What was the original post that drove the peak? With social visualization, you can see it in real time and be able to make the informed decision on whether to take action, potentially getting into the social conversation or reaching out to the influencer directly.
To learn more about the types of social visualization data that’s currently available, go here.
Also, you may be interested to learn how enterprises can use the power of images to convey key social data insights to top decision-makers in our new white paper, Visualization: New Insight for the C-Suite.
About the Author: Hope is VP of Marketing at NetBase, where she focuses on digital strategy, branding and lead generation. In the 15+ years preceding, she has launched new lines of business, growing companies from infancy through acquisition, and has lead multi-channel marketing efforts for Fortune 1000 companies and international startups. Connect with her here