When people think of social media, they usually think of social media marketing – pretty pictures, witty tweets, and viral trends. But that’s not the only way social media provides value to businesses. Social media is also a goldmine of business intelligence.
Insights from social media can be used to make improvements to your business operations, if you know how to find them. Here are three ways to gain insights about your business, customers, and industry using social media.
1. Social Listening
Social listening is a term that basically just means paying attention to the conversations people are having online about your business and industry. It includes not only reading the messages and comments that your business’s social media accounts receive, but also tracking the conversations that people are having amongst themselves.
Social listening usually involves tracking the use of keywords and hashtags on social media platforms. Larger, well-known brands often use special social listening tools to keep track of the conversations people are having about them. However, any business can do their own social listening for free.
First, make a list of keywords relevant to your business. This should include the name of your business and its products and services, the location of your business if you have a physical presence, names of well-known people associated with your business, industry terms, and more. Then, enter these keywords – one at a time or in combinations – into the search bar of the social media platforms your audience are most likely to use. Explore the posts that come up, and take note of any interesting information.
These conversations can contain nuggets that help you improve and grow your business. For instance, if you ran a sports bar in Boulder, Colorado, you might search for “sports bar Boulder” on Twitter and find someone complaining that there aren’t good vegan food options at sports bars in Boulder. Your bar might try adding some vegan options to the menu to bring in more customers.
2. Ask Questions
This may seem like a no-brainer, but you can learn a lot about the needs of your customers by responding to comments and posts on social media. Providing customer service is an especially good way to uncover insights.
If someone shares a complaint or question about your business, don’t be afraid to engage! Stay positive, stay open-minded, and ask questions to gain a clearer understanding of their issue. You may find that underneath these messages lie concrete ways your business can improve your customer experience.
As a bonus, engaging in this way shows you care and can turn a frustrated commenter into an appreciative and loyal customer.
3. Track How Your Posts Perform
Posts that get more likes, comments, and shares than your others can indicate that your customers are interested in the topic of that post. As you notice over time which topics tend to get more engagement, you can use this information to inform business decisions.
For instance, if you owned a bookstore and noticed that posts about books by a certain author always got a ton of likes and positive comments, you would want to consider having more books by that author in stock.
So social media accounts aren’t just for marketing. They’re also a great source of data and insights that can make your business better. Keep this value-add in mind as you decide how to use social media for your business.
This advice was originally shared during our interview on the Tech With Heart podcast, where we covered 5 Ways Social Media Impacts Business Growth. You can watch the interview here:
Scenda is a social media agency that uses month-long programs to help businesses set up, brand, and optimize their channels. Along the way, we provide tools, templates, and training so that after finishing the program, businesses can manage accounts on their own. Visit scendasocial.com to learn about our services, and follow us on social media.
