What’s the climate of your Social Media Eco-System? You should be able to answer this question! The difference between those who can answer this question is a gap equivalent to millions of dollars in sales.
The rationale behind this is that Social Media is no longer a one-way conversation. Today Social Media is a conversation, and that conversation is the key generating measurable results. Like any conversation, you should be intuitive when it comes to your audience, which ultimately gives you control through listening and responding wisely. Are you doing that through your current online efforts?
One of the top online monitoring tools, Sysomos, offers a brilliant summary of the ’5 W’s’ that can equip you in building your ‘business intelligence,’ which is just another phrase for understanding your Social Media Eco-System. These 5 keys can ultimately help you double your sales. Double your understanding of your social media client, and you can guarantee you’ll see major results from a sales standpoint.
5 W’s of Business Intelligence:
- What are people talking about? What are the key conversations?
- When did these conversations happen? Was there a lot of activity?
- Where did these conversations happen? Was there a lot of activity?
Who is doing the talking and what’s their influence?
Why are conversations happening? Are they positive or negative?
Determine how you will measure these aspects of your social media conversations, and make adjustments in light of the climate and messaging you’d like to create. Being able to gauge the attitudes within your conversations is a vital aspect to truly understanding and evolving your Social Media Eco-System to double your sales.
So what is social media sentiment? And why is it important to understand?
Social media sentiment is the emotional assessment of the conversations surrounding you and your brand. Beyond keywords and mentions, social media sentiment is a gauge of the tone of what’s being said about you online, and whether they’re positive, negative or neutral. This is important to understand because you need to know how your audience is feeling. And addressing those feelings fueling conversation about you, whether positive or negative, is an opportunity to double your sales.
This article does a great job of explaining the sentiment surrounding BP in light of the recent oil spill, and provides a visual on social media sentiment…
Let’s pretend you didn’t know about the BP oil spill, but you set out to measure how many people were searching ‘BP’. You might find an overwhelming amount of searches and be impressed by the large volume of interest in BP. But, without understanding if conversation were positive or negative, it would be hard to know if visibility is good or bad for BP’s reputation. This is exactly why you need to understand the social media sentiment that surrounds you and your company to double your sales.
Sysomos is a great online tool to measure social media sentiment. It focuses on the following solutions that could be difference-makers for you and your business:
- Listen: To the social media landscape to monitor the noise and context of what’s being said about you.
- Measure: In real-time, track and measure by analyzing results over time, as well as comparisons with competitors.
- Understand: Get insight into the conversations happening and make adjustments to your communications, marketing or sales plans.
- Engage: Identify the people driving the conversations and engage with key influencers and opinion leaders to build, nurture and manage relationships.