Counted among the top 10 economies in the world and slowly inching towards becoming the most populous, India shows immense potential for social media adoption. A Statista report claims that by 2025, India will be home to almost one billion social media users.
It’s not just casual users. According to the Internet and Mobile Association of India (IAMAI), over 346 million Indians are actively engaging in online transactions such as digital payments and eCommerce. To put it into perspective, this number is higher than the entire population of the United States. Soon, India’s web user base will become the third largest in the world – closely following the United States and China.
How did this rapid digital revolution come about?
The answer is a combination of a few catalysts. With the introduction of affordable, high-speed internet about a decade ago, people in every corner of the country have been able to browse the web for entertainment and shopping. This has helped sellers and buyers alike. In addition to that, the increasing number of players in the affordable smartphone market has further pushed the pace of adoption. By 2040, it is estimated that India will be home to over 1.5 billion smartphone users.
As people become more accustomed to the connected way of life – be it for shopping or entertainment, news or socializing – new patterns emerge. Digital buyers command a unique form of marketing, engagement, and collaboration procedure.
Naturally, it’s smart to take advantage of the social media wave. Many businesses already are. It is estimated that even the top businesses are allocating 15% – 20% of their total marketing spends for social media marketing alone. Through social media, brands can gain access to large pools of consumers and deploy targeted messaging based on relevant interests. What remains the same is the dislike for interruptions, especially by advertisements. This is where analytics comes in.
Here are five reasons social media analytics can be good news for you.
- Boost customer acquisitions
Social media analytics can help you map your customer’s journey in detail. Given that your customers are the backbone of your organization, this is a necessary step. By closely planning and managing their journey – from awareness to purchase – you can engage with them consistently and encourage brand loyalty.
- Optimize product launches
With the help of analytics, you can identify emerging trends and get in on them early. It also allows you to discover market opportunities that were previously unknown and minimize risks.
- Protect your brand’s health
Want to know what’s good for your brand’s health? A happy customer. Every single interaction and touchpoint you have with your consumer contributes to your overall brand experience. That’s why brands are working hard to gain positive consumer sentiment. After all, brand perception – often in the hands of the consumers – is one of the biggest factors that contribute to your bottom line. With social media analytics, you can predict and pre-plan your touchpoints, even if it’s just a direct message.
- Enhance campaign performance
Analytics teaches you everything you need to know about your audience – from their likes and dislikes to habits and patterns, and more. With the right insights, you can craft more relevant and effective campaigns. What’s more, real-time social media analytics also teach you what’s not working and allow you to adjust your campaign at any time.
- Reduce customer care expenses
Customer care is very different today. They are no longer limited by time or medium. When there’s an issue, today’s consumers don’t hesitate to call out brands, expecting answers and quick resolutions. What’s more, it’s no secret that brands have considerable data on their consumers, so it is only wise to leverage this data to build stronger relationships. With analytics, you can consistently monitor what your consumer needs and bring in opportunities to address these needs and issues.
Make way for Tensight – your social media analytics partner
Oftentimes, there is a gap in understanding how a successful social media campaign affects online sales. While there are a few ways you can get this data, you may not always get actionable insights, for example, associating a specific influencer campaign with your sales. What you need is a simplified tool.
With Tensight, you can bridge this gap by getting centralized metrics from various data sources that help you better visualize the impact of your campaign on cross-functional departments. On our unified marketing platform, you can view the performance metrics of your campaigns across various marketplaces and social media platforms, measure your brand’s share of voice, and quantify just how impactful your campaign has been.
More importantly, you can track your competitors’ campaigns, prices, and offers on a daily basis. You can also see new product launches and receive near real-time inputs on your own. Tensight allows you to collate all key metrics from your own site and track the results of your paid campaigns.
If you want to take your business to the next level, reach out to the experts at Tenovia today!