Learn more about Social Media Analytics Software

Social Media Analytics Software

Social media analytics software comprises of analytical tools, which enable end-users to listen, monitor, analyze, and generate insights using data collected from blogs and social media websites. The tools also incorporate advanced analytic techniques, such as predictive, prescriptive, descriptive, and diagnostic, to enable collection, analysis, and interpretation of data across various social media platforms. The common use of social media analytics software is to understand customer sentiment to support marketing and customer service activities. It is useful in understanding customers, based on or influenced by economic, social, or political happenings. The application areas have been widening with the recent implementations of public safety, law enforcement, and risk management.

Top 10 Social Media Analytics Software

  1. Oracle Social Cloud
  2. Salesforce Social Studio
  3. IBM CORPORATION
  4. Adobe Campaign
  5. SAS Customer Link Analytics
  6. Hootsuite
  7. Clarabridge Engage
  8. Netbase
  9. BuzzSumo
  10. Digimind Social


Oracle Social Cloud -
Oracle Social Relationship Management (SRM), an Oracle Social Cloud business solution, is one of the first unified social platforms that provide a seamless experience across content creation, community management, paid media, listening, engagement, and the all-important analysis of a company’s social media efforts. Read more

Salesforce Social Studio - Salesforce Social Studio is a one-stop solution that enables you to manage, schedule, create, and monitor posts. It also allows you to organize posts by brand, region, or multiple teams and individuals in a combined interface. Social Studio offers influential real-time publishing and engagement. Read more

IBM Watson Analytics - Watson Analytics software offers a wide range of advanced features, including ad-hoc analysis, hypothesis testing, and reporting to make it easier to access and manage data, select and perform analyses, and share your results. Read more

Adobe Campaign - Adobe Campaign enables you to see your customers the way they see themselves as a unique person with specific needs. It helps you serve up relevance to each customer across every channel, during the whole journey. Read more

SAS Customer Link Analytics - SAS Customer Link Analytics allows marketers to analyze social networks and recognize relationships among customers, and then use that information for more precise profiling and segmentation. The solution enables marketers to get greater insight into Read more

Hootsuite - Hootsuite dashboard allows you to monitor conversations relevant to your business, your industry, and your products. It also enables you to monitor what people are saying based on keywords, hashtags, locations, and even specific users. Read more

Clarabridge Engage - Clarabridge Engage, Clarabridge’s social media engagement platform, provides advanced social media analytics. Moreover, it tracks the volume of mentions and other forms of engagement and gives users access to industry-leading text analytics. Read more

Netbase - NetBase applies advanced next-gen artificial intelligence (AI) across all social media sources so you can listen and understand every customer, engage with them, and enhance their loyalty. It also provides the most nuanced and precise understanding of human language at scale. Read more

Market Overview

Though the best social media analytics software market has witnessed an enormous growth among various business applications, the complexities in the analytical workflow have restrained its adoption to some extent. There are a lot of new opportunities for this market, such as increasing popularity of influencer marketing techniques, the launch of new social media video apps, including TikTok and Samosa, and rising customer shifts to the Over The Top (OTT) platforms. These factors are expected to shape up the future of the social media analytics market. However, the complexity of data synchronization and continuous aligning with ever-changing social media trends are some of the challenges present in the social media analytics market.

The global social media analytics software market size is projected to grow from USD 3.6 billion in 2020 to USD 15.6 billion by 2025, at a CAGR of 34.1% during the estimated period. Key growth drivers of the market are an improved focus on competitive intelligence and the growing user engagement of social media using smartphones.

Cloud adoption is said to have improved in recent times as vendors are making use of Software-as-a-Service (SaaS) to deliver cloud computing solutions. Business users are always on the lookout to assure they are offering the most effective yet economical solutions. Cloud makes it possible to perform cloud computing, which provides the ability to outsource the operational IT work to another company.

COMPETITIVE LEADERSHIP MAPPING TERMINOLOGY

The competitive leadership mapping section provides information regarding key vendors offering Best Social Media Analytics Software and outlines the findings and analysis as well as rates them accordingly based on vendor performance within each evaluation criterion. The evaluation criteria are based on 2 broad categories, namely, Product Maturity and Company Maturity. Each category encompasses various parameters based on which vendors are evaluated. Parameters considered under Product Maturity include breadth and depth of product offering, product features & functionality, focus on product innovation, product differentiation and impact on customer value, and product quality & reliability. Parameters considered under Company Maturity include geographic footprint/presence in emerging markets, breadth of applications served, channel strategy and fit, the effectiveness of organic growth strategy, and mergers & acquisitions strategy.

The Social Media Analytics Software vendors are placed into 4 categories based on their performance and reviews in each criterion: “Visionary leaders,” “Innovators,” “Dynamic differentiators,” and “Emerging companies".

VISIONARY LEADERS

Visionary leaders are the leading market players in terms of new developments such as product launches, innovative technologies, and adoption of growth strategies. This quadrant receives high scores for the most evaluation criteria. They have a strong service portfolio, a robust market presence, and effective business strategies across the world. Visionary leaders primarily focus on acquiring the leading market position through their strong financial capabilities and well-established brand equity.

DYNAMIC DIFFERENTIATORS

Dynamic differentiators have established vendors with effective business strategies and market presence. However, they have a weak service portfolio. They focus on a specific type of technology related to the product.

INNOVATORS

Innovators demonstrate substantial product innovations compared with its competitors. They have a focused service portfolio. However, they do not have effective growth strategies for their overall business, and their geographical presence is low.

EMERGING COMPANIES

Emerging companies are the new players that provide value to diverse groups globally with a large group of suppliers, system integrators, end-users, and manufacturers that lead to the evolution of a new player.

What are the major drivers in the Social Media Analytics Software Market?

Increased focus on the market and competitive intelligence

The global competition continues to affect the profit margins, and companies are constantly on the lookout for solutions to reduce their expenses. Companies need to integrate the demographic, competitive, and business information, along with the customer’s data, to find out the intricacies to outperform their competitors. Organizations are trying to focus on analyzing the sales and various markets to identify the gaps. Customers nowadays have become brand conscious. They prefer better quality, lower prices, and quicker delivery of products and services. Advanced analytics is being combined to help achieve market goals. Social media analytics helps analyze unstructured social data to respond to dynamic market conditions and achieve high sales and operational profitability. Organizations can retrieve huge amounts of information about customer sentiments about their brands and strategize their marketing and sales activities. Companies can make use of social media analytics to improve their market presence and gain a competitive edge by effectively analyzing the competition and customer behavior from social media platforms. Social media analytics solutions have various applications, such as customer experience management, sales and marketing management, performance monitoring, and workforce management, which also provide functionalities for organizations to gain a competitive edge. 

 Increasing user engagement of social media using smartphones

The adoption of smartphones has increased drastically in recent times, mainly because of mobility and enhanced features, which enable the phone to be used as a mini laptop as well. It is expected that the adoption of smartphones would increase, especially between the age groups of 18–34. The increase in the use of smartphones and the creation of user-friendly social media platforms are expected to surge the amount of social media data generated. Earlier, social media analytics was only being used by advertisers to market their products. Nowadays, it is also used by large enterprises to create trends and understand the likes or dislikes of their customers or understand the topics which attract maximum attention in real-time. Hence, increasing user engagement on social media using smartphones is considered the most important driver for the growth of the social media analytics market.

Need for social media measurement to enhance customer experience

CX comprises the interaction between an organization and its customers during the purchase or use of its solution or service. Earlier, if customers have a question related to a company’s offerings, they would visit the support site or contact the call center, if they do not find relevant answers to their queries. Nowadays, if they do not get a response from the company’s support site, they surf social media websites, such as Facebook and YouTube, to find solutions. These websites show them if the issue is being faced globally and the steps that can be taken to overcome that issue. Organizations are trying their best to enhance online CX.

It becomes difficult for marketers to manually understand the various comments generated across social media channels. To better track the unstructured data and silos of social media, organizations are looking for solutions to reduce the complexities and the processing time. Social media has become a hub with lots of data; hence, the need to enhance the CX is considered as one of the prominent drivers for the social media analytics market.

A shift of people towards the virtual realm due to COVID-19

As the governments of various countries are taking social distancing and lockdown measures, people have started shifting towards social media to stay connected. There is no other place left for people to go other than the internet, especially social media. As per the eMarketer report, Facebook witnessed a 70% increase in the usage of its apps during March. WhatsApp has launched a hub for COVID-19 information by collaborating with World Health Organization (WHO), United Nations International Children's Fund (UNICEF), and United Nations Development Programme (UNDP) so that users can receive up-to-date information about the virus.

Who uses Social Media Analytics Software?

Sales and Marketing Management

Social media analytics software gets information from various social networking streams, such as Facebook, Twitter, and blogs. The information can be used to improve social media marketing campaigns and sales. It can create new opportunities for companies to market their products and services based on specific events, such as weddings, graduations, births, and deaths. To improve the sales, companies need to target customers who not only make significant purchases but also keep track of their liking, to show them other goods, which would likely be bought by them. Businesses need solutions to analyze the unstructured data to understand their customers’ behaviors and detect the trend. For instance, if a new house is purchased, insurance follows suit. Advanced analytics, such as predictive and prescriptive being incorporated in the best social media analytics software makes it possible to identify events and come up with marketing strategies specific to that customer. Retailers are also making use of social media analytics software to generate valuable insights.

Customer Experience Management

The customer experience management application helps organizations track interactions with their customers at every stage of their relationship with the company. Better customer experience management helps improve customer satisfaction, loyalty, and brand value by meeting customers’ expectations. social media analytics software has emerged as an inevitable tool to improve the customer experience management application, with a comprehensive analysis of customers’ conversations over social media platforms, thereby ending up in devising enhanced business strategies. The companies have been practicing to monitor social media sites to be acquainted with customers’ reviews about their products, services, mode of sales, and competitors. Customer feedbacks received through reviews, comments, and tags is a wealth of information to improve business performance and brand reputation.

In recent times, the use of social media sites has improved drastically, with increased penetration of smartphones among customers. Customers have been keenly surfing social media sites before making any purchase or availing any service. Such analysis by customers has provided the opportunity for companies to perform sentiment analysis. Therefore, companies have been analyzing the touchpoints to map out the customer journey, beginning from their first instance of product citation. Thus, social media analytics software has made this complex customer experience management process quite simpler.

Competitive Intelligence

Organizations can meet customer demands better than their competitors with the help of competitive intelligence application. Competitive intelligence requires deep knowledge of economic forces and consumer trends to analyze the complete market landscape. The competitive intelligence application includes the collection and analysis of information related to products, customers, and other variables affecting the business.

Competitive intelligence consists of various intrinsic evaluations based on pricing, service, attention metrics, perception, and reach. It ensures that businesses can understand market trends and quickly adapt to changing market circumstances. The data can also be used to provide visibility into customer feelings related to their competitor’s products and relevant trends specific to any industry. Though the use of social media analytics software for building competitive intelligence has not been reached to the full strength, the use is expected to fuel up in the coming years with increasing competition. Several industry verticals have started analyzing social media data to gain a leading edge over their competitors. Samsung has taken the lead in the sale of its new launch, Galaxy S III, over its rival Apple, during the iPhone 5 launch, based on competitive intelligence gathered through social media responses. Similarly, industries such as retail and eCommerce, BFSI, healthcare, and travel and hospitality are taking social media data seriously to maintain their brand reputation.

It was found that the traditional competitive intelligence method was unable to perform real-time analytics and come up with effective solutions to cater to the rapid changes in customer preferences or market conditions. Social media analytics software makes use of listening, monitoring, and analysis, to understand data in real-time and recognize the quick changes depending on any business environment.

Risk Management and Fraud Detection

Data generated through social media is finding its use in risk management and fraud detection applications. Risk managers can make use of the data to understand what is being said about their company and utilize their resources to create risk management strategies. Social media analytics software analyzes the data in real-time. The speed with which the data is identified and addressed has a significant impact on determining the effect and scope of the incident. For instance, 2 researchers from the University of Tokyo examined how Twitter, a real-time communications platform provider, can be used for earthquake detection. Each tweet can be compared to sensory information and just as sensors play an important role in the Internet of Things (IoT), tweets generated by the users can also be used for risk management.

The other uses of the risk management and fraud detection application include identifying location-based risks, identifying and mitigating reputational risks, determining risk exposures, and identifying and responding to disasters. social media analytics software can also be used to claim fraud mitigation by using essential information about the location and date associated with the photos posted online by that user. It can also be used to detect and identify frauds and create a social graph to link frequent fraudulent users. Insurance companies can make use of monitoring and analysis to perform user profiling and analyze users who place too many claims. The company can also use social media data related to location and pictures to validate the information provided by the user.

Public Safety and Law Enforcement

The role of social media in maintaining public safety and law enforcement is said to be increasing because social media is a rich source of information for identifying people, locations, criminal activities, and gathering evidence. Social media also helps understand the acceptability thresholds of various investigative techniques currently being used by law enforcement agencies. For instance, agencies create fake profiles on social media portals to befriend or follow any targeted suspect. After getting online access to his/her private life, the data can be monitored continuously to track important information about the suspect, which would otherwise be difficult to get. Profile analysis can then be performed on all users who are continuously in touch with the suspect to know about his/her team.

Social media analytics software can also be used by police officers to understand the cases related to bank robberies, sexual assaults, and homicides. The police department can make use of social media analytics software for tactical purposes, which help detect mob violence, riots, or isolated criminal activities. Police need tools to measure and monitor the various types of communications on social media, to understand the mood of the people, evaluate if the change in mood can disturb the peace, and also come up with solutions to overcome such issues. Data mining from real-time online data as well as stored data can be ingested into the social media analytics software to analyze user profiles related to victims, perpetrators, or witnesses. Vendors such as Talkwalker are also providing enhanced picture analytic capabilities to the social media analytics software, which can be used by law enforcement agencies to detect the actual perpetrator.
 

What are the major benefits of Social Media Analytics Software?

ContentSocial media analysis is capable to determine to the extent your audience is sharing your content and what content they are sharing. If the content created is relevant and interesting to the target audience, the audience will blowout the messages for you and enhance your marketing reach. Based on the types of content that most interest your audience, one can learn how to develop messages that the audience is more likely to connect with and share.

Business - Generally, people tend to be authentic on social media. By continuous monitoring for mentions of your corporate and brand names, your organization can learn what people think about them. One can gain insights into how people feel about their products and services and learn where one can make improvements if needed. Social media also enables to engage with your audience — reply to comments, resolution for complaints, and provide other help that customers appreciate.

Audience Studying and analyzing social media users who mention your brand can disclose who your audience is and what are their likes and dislikes. It also enables to know what social networks and type of content they prefer. For instance, it helps you to determine if they prefer to share images, videos, or infographics. It becomes easy to find what your audience likes in networks such as Facebook where their likes are posted publically. On other sites, one can reveal their preferences through their use of hashtags or keywords in their posts.

Influencers – Most of the social media users generally acquire significant influence, as they have a considerable number of followers who trust them. Along with individuals, influencers can be other businesses or Internet personalities. A positive comment by an influencer about a product can prompt others to build a relationship with the business. When developing a marketing strategy, influencers’ preferences should be considered, what they like, and the keywords they use. Creating successful relationships with influencers is one of the main methods of social media marketing.

CompetitionSocial media monitoring often tells your competition’s marketing strategy, including its content, target audience, and messages. Any content your competitors release to their audiences is also available for your analysis.

It helps organizations to collect and analyze the vast amount of data to create a customer persona — a list of demographic characteristics that describes their typical customer. Organizations can then use that persona as an example of an average customer when communicating with their audience. Talking one-to-one to the persona you created will expand your communications to your entire audience. With the explosion of social media use, marketers can utilize social media measurement to tap into a treasure trove data on their customers, products, and competitors. This information can help enhance social media content and better reach the target audiences. 

What are the key features to be considered in Social media analytics software?

Social Engagement Report – It includes the complete report for all your social activities. Good social media analytics provides you a holistic view of your entire social performance with better filtering, better design, and more context than ever before.

Social Profile Reports  It provides you a secret weapon for PER network performance. No need to download reports from individual platforms (or multiple third-party tools). It helps to quickly view important social KPIs for Facebook, Twitter, LinkedIn, Instagram, and Pinterest.

Social Campaign Reports  It provides the report for analyzing correlations between two campaigns with side-by-side comparisons. It also helps to review similar campaigns or posts to test what’s working (and what isn’t).

Top Content Report- A good social media platform enables us to know instantly what content performs best with your audience on social media. It helps you to track and calculate social shares and repromote your most popular post.

What are the different components of Social media analytics software?

Software

The social media analytics software refers to the platform, tools, and software, which provides end-to-end analytics solutions for social media data to numerous industry verticals. Social media analytics software extracts the data from social media channels to track customer sentiments and their behavior toward brands. The increasing adoption of social media analytics by marketers and advertisers to understand customer preferences and analyze patterns for improving sales is helping drive the adoption of social media analytics solutions across industry verticals. The important features in social media analytics solutions are measuring, monitoring, and analyzing social media data. Organizations must measure their social media campaigns’ performance to understand which activity worked and needs improvement. Social media measuring includes real-time analysis as well as campaign analysis. Monitoring helps create trends, which provide insights into the change in sentiment, the share of voice, and the volume of posts. Some social media analytics solutions also make use of stored data to distinguish important information, such as profiles of customers, who are inclined to buy a product. Social media analytics solutions also make use of text and semantic analysis to create insights from forum discussions and understand customer sentiments related to brands.

Services

The services segment comprises of managed services and professional services. Services constitute an essential part of the software life cycle, which includes product up-gradation, maintenance, training, and consulting. In the era of the digital economy, enterprises are evolving and demanding new ways to improve their RoI and business optimization. To boost growth and generate higher revenues, enterprises are turning toward services that are instrumental in streamlining business operations and optimizing business resources. Support, which is also included in the services segment, comprises pre- and post-sale support. Organizations have realized the importance of social media analytics and look for added services, with which they do not have to worry about hardware breakdown or regular updates.

Which industry verticals widely use Social media analytics software?

Banking, Financial Services, and Insurance

BFSI organizations have lagged other industry verticals when it comes to the use of social media analytics to generate insights due to internal compliance policies and security reasons. However, times are changing, and BFSI organizations are monitoring any mention of them on social media and responding accordingly using the measuring, monitoring, and analyzing functionalities present in the social media analytics solutions. Banks, such as American Express, have already started linking their customers’ social profiles to their Amex Card. Transactional data gives information about the customer’s habits, needs, and desires. However, after being combined with social data, it gives banks an incredibly detailed view of their customers. American Express is now able to deliver personalized offers directly while the customer is paying for his/her shopping. Amex has also partnered with Twitter, which enabled Amex’s users to sync their cards with their Twitter accounts and pay for products using hashtags. Social media analytics is expected to bring in a lot of opportunities to financial institutions. These institutions need to embrace this shift to reap the benefits.

IT and Telecommunications

The telecommunications and IT organizations are experiencing improved quality and minimized costs in business functions, with the implementation of social media analytics solutions. Telecom companies, such as T-Mobile and AT&T, are continuously monitoring new industry developments to provide the best customer support and be a leading player in the social media analytics market. These companies monitor every question and comment posted on Facebook, through which they decide their target market and create posts for the target audience to promote their products. The telecom companies have access to personal information of the customers, including age, gender, transaction history, employment status, call record, and location. This data provides opportunities to the telecom companies to have a deep understanding of their customers for meeting the customers’ requirements. Furthermore, the ever-changing preferences of customers and the increasing use of the internet, laptops, tablets, and mobile phones mandates the service providers to understand their customers’ preferences, behaviors, and trends. The market growth of the telecommunications and IT industry vertical is expected to increase rapidly due to the growing demand for the data persistence option (ability to survive the disruption of hardware

Retail and Ecommerce

The retail and eCommerce industry is going through an immense transformation, as mobile eCommerce is gaining popularity and replacing the brick and mortar stores. Owing to the emergence of several eCommerce websites, the competition in online retail is on the rise. Organizations need to identify trends by analyzing the voice of the customer, generating insights using their choice preferences, and improvising their customer service management to attract more customers. Social media platforms provide a large database of unsolicited consumer opinions, which can help brands measure campaigns, identify growth opportunities, improve their products, and keep tabs on their competition. Most importantly, the audience must be analyzed to understand various segments, such as the age group, gender, and location. The other important information, such as knowing audience preference and time when the audience is most active on the social media platform, are expected to help online retailers in pitching relevant advertisements and improving the sales. The retail and eCommerce companies are looking for the fastest ways to understand their audiences. Social media analytics can be used by the retail and eCommerce organizations to attain retail-specific goals and answer the most important questions affecting their brand’s success.

Healthcare and Life Sciences

The healthcare and life sciences industry vertical comprises hospitals, which have an important responsibility to answer health-related queries and provide medical aid as soon as possible. Although most social media posts and messages contain a less informative value, integrating all such messages can generate important knowledge for the healthcare and life sciences industry vertical. For example, a single user posting a tweet that he/she has contracted flu may not be interesting; however, millions of such messages can be used to track the influenza rate in a state or country. Social media data can be mined for patterns and knowledge, which can then be leveraged, with the use of descriptive, predictive, diagnostic, and prescriptive analytics types to monitor the population’s health. It can also be used to monitor and control the effectiveness of public health monitoring and reduce latency. The traditional public health monitoring techniques (clinical encounters with healthcare professionals, sick leaves, and drug prescriptions) are not practiced anymore. To control the epidemic spread of diseases, real-time monitoring solutions need to be implemented. Hence, the healthcare and life sciences industry vertical has started realizing the importance of social media analytics and is swiftly moving toward its adoption.

Government and Defense

The government and defense industry vertical cover all the government organizations and agencies. The responsibilities of these organizations are to deal with tax collection, safety, public interest, and education. They have to consider various security measures while adopting new technologies. The social media platform is one of the best mediums to reach out to people. Social media helps improve real-time interactions with citizens, understand the trends of government behaviors, and modify the decision-making patterns in the governments. Social media analytics has added functionalities, such as user profiling and semantic analysis, which help the government and defense industry vertical to understand the behavior of people. Moreover, social media helps governments share and deliver services in an effective manner.

Media and Entertainment

The media and entertainment industry vertical include films, TV, printed media, gaming, radio, animation, and internet advertising. Among these sectors, internet advertising is gaining high importance due to the emergence of social media analytics solutions. The rise in technologies, such as Virtual Effects (VFX) and graphics, are the driving factors for the adoption of social media analytics software and services in the media and entertainment industry vertical. Organizations that deal with the media and entertainment industry vertical make decisions based on CX; however, due to the rapid growth of technological advancements, these organizations need to make real-time decisions. Social media analytics simplifies the analysis of customers’ requirements and identifies the opportunities to acquire a larger customer base.

Travel and Hospitality

The competition in the travel and hospitality industry vertical is stiff. To stay ahead of the competition, vendors are utilizing analytics tools to identify new prospects and are offering quality services to retain their existing customers. Customers in this sector compare the products and research on multiple options before purchasing through various channels (online, promotional activities, social media, or verbal communication). Airlines, hotels, and reservation sites are increasingly using analytics to improve booking ratios, boost the revenue yields, and improve customer satisfaction. Analytics can help maximize the value of services in hospitality by balancing the spending in marketing and sales and in staffing.

Other Industry Verticals

The other industry verticals comprise research and education, transportation and logistics, and energy and utilities, which are rapidly adopting social media analytics. The adoption is expected to help these industry verticals address several pain points, such as the increasing OPEX and Capital Expenditure (CAPEX) of social media, to generate insights. This is expected to ultimately lead to higher demands for analytics in these industry verticals in the future. In research and education, social media analytics can be used to create an appropriate education and research plan, depending upon the target audience. Social media analytics helps arrive at decisions with quicker research time, compared to the traditional surveys or study groups.

The transportation and logistics industries have benefited from the use of social media analytics solutions. The government agencies, including transportation departments, driver’s licensing agencies, and transit agencies are using social media analytics to keep their customers updated. They intimate their customers about schedule changes and waiting times to provide them with the best service. However, there are some challenges that restrain the growth of social media analytics solutions in the transportation and logistics industry vertical. For instance, the metro’s communication system is old and not upgraded as per requirement, due to which social media cannot be considered as a perfect solution for metro travelers. Professionals can use social media analytics as a key marketing platform in the transportation and logistics sector.

The energy and utility industry vertical is using social media analytics solutions in various Applications. Several utility companies have ventured into this space to discuss energy conservation and efficiency, customer education, branding and promotion, and outages. The utility sector can derive values from many unstructured texts, driven by conversations and sentiments expressed across social media platforms. Such views are expected to help align customer engagements.

Frequently Asked Questions

  • Based on applications, what is the growth analysis of social media analytics market?
    Based on application, the social media analytics market is segmented into sales and marketing management, competitive intelligence, risk management and fraud detection, public safety and law enforcement, customer experience management, and others (workforce management and compliance management). The risk management and fraud detection application is projected to be the fastest-growing application in the market during forecast period, owing to the ability of analytics tools to extract and analyze data from multiple data sources, that provides opportunities for the identification and justification of fraudulent activities.
  • Which region holds the largest market size?
    North America is projected to hold the largest market size in the global social media analytics market, while Asia Pacific (APAC) is projected to grow at the highest CAGR during 2020-24. The region is becoming a new hotspot in the market, due to rising investments in the process of digitalization across potential economies. North America is the most important revenue contributor to the global market. The region is perceiving important developments in the social media analytics market. Due to the increasing use of the big data technology, growing amount of data across verticals, and rising investments by companies in real-time analytics can be attributed to high growth rate.
  • What’s the right frequency if people keep missing the stuff we post on social media?
    The best frequency is something that you need to figure out on your own. Something you need to consider is how active your audience is. After doing so, you must find a balance that the audience is comfortable with. You don’t want them to start unfollowing you after flooding their newsfeeds. There are some rules, but you can only find the best frequency by trial and error and experimenting.
  • How to measure ROI in Social Media?
    After choosing the precise platforms and planning the campaigns, one should decide what metrics to check in order to determine the ROI. Generally, reach, traffic, engagement and conversions on social media, are considered for measuring ROI. ROI = (Returns - Cost) / cost of social media marketing. By using this formula one can determine how the results compare to the initial goals. It’s better to understand as many metrics as possible, in order to ensure that any changes are minor.
  • What common social media marketing mistakes should be avoided?
    Continuous spamming, having multiple profiles on each platform and not interacting at all with the audience are some of the practices one should avoid. Some of these actions create confusion, while others will make your audience to unfollow and/or even report you. Inconsistency is also one of the main traps one could fall into. This means one shouldn’t frequently switch on to new platform by leaving the previous one. Avoid publishing updates in a frantic manner. Timing is very important while publishing the post, as there should be logic into how, why, when and where you post the social media posts.

Best Social Media Analytics Software

Comparing 57 vendors in Social Media Analytics Software across 104 criteria.
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Oracle offers its social media analytics solutions through its Social Relationship Management (SRM) platform. It comprises a comprehensive set of products, such as social engagement and monitoring cloud service, social marketing cloud service, social network, SRM service. These products facilitate various features, including content creation, engagement, listening, and community management. Additionally, it provides the software integration functionality with marketing, sales, commerce automation systems, and services to provide the best customer experiences. Oracle Social Cloud offers Social listening which allows oganizations to analyze social conversations that fuel content creation and disseminate information for targeted audiences. The Oracle Social Engage platform encourages marketers to handle all of social media activities through a visually stunning, easy-to-navigate interface.
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Salesforce facilitates its products using Social Studio in the social media analytics market. Salesforce Social Studio provides an easy-to-use application in order to manage social media marketing using numerous social channels. It integrates with the Customer Success Platform of the company and empowers organizations to listen to the conversations of their customers using the social listening tool. The Studio also helps users to gain important insights across all the marketing, service, and sales campaigns with reporting linked to social accounts from the office or on their mobile app. It also helps in monitoring audience discussions by using machine-learning sentiment analysis and image recognition to extract meaningful insights.
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IBM offers social media analytics software solutions with its products, IBM Watson Analytics for Social Media and IBM Social Media Analytics SaaS. IBM Watson Analytics for Social Media automatically creates data visualizations to generate insights and also helps get interesting relationships and patterns to analyze the research topic in a better way. The key features include topics and suggestions, one-click analysis, automatic deliverables, interaction with social analytics, and understanding the sentiment in detail. It is deployed over the cloud. IBM Social Media Analytics SaaS analyzes billions of social media comments and provides customized results in configurable charts and dashboards over the cloud itself.
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Adobe Systems provides its social media analytics software, along with products, such as Adobe Analytics and Adobe Social. Adobe Analytics contains real-time web analytics and reporting on interactive dashboards, as well as, for ad-hoc analysis. It also comes with additional add-ons, such as the predictive workbench, which is powered by statistical modeling and machine learning and real-time monitoring. Adobe Analytics is available in 3 plans: Select, Prime, and Ultimate. Adobe's social management platform helps users with social campaign management and generates insights from key marketing data to gain awareness based on brand and target audience. It also helps in proving ROI through customer attribution, anomaly detection, and cohort analysis to better direct the marketing spend.
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SAS Social Media Analytics is a unique enterprise solution which is created to meet the requirements of marketers in medium and large scale companies. It helps the marketers to analyze, interpret and make decisions based on social media data. Built with the capability to archive and analyze more than two years of social media conversations from various social media channels, SAS’ new on-demand software shows marketers, the people's perceptions about their products or brands, their influence, and how social media conversations affect business results.
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Hootsuite social media analytics manages all the social media profiles in one place. It integrates all social media responses relating to the customer brand and initiates a reply. The customers are provided free reports of the monitoring and scanning of the useful data in the mail.

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Clarabridge has registered its presence in the social media analytics software market through CX Social, an advanced social media engagement platform. It allows businesses to track the volume of mentions and engagement; the platform provides businesses access to industry-leading text analytics. It records all types of conversations on social media forums to analyze the data and understand the root causes of all the social conversations. Additionally, it gives the exact picture of the global audience. The platform allows users to achieve real-time insights and understand customer effort, emotions, and complaints using the best-in-class text analytics engine.
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Netbase Solution offers social media products in 3 versions: Instant Search, NetBase Pro, and NetBase Enterprise. The instant search helps search social media platforms for insights, NetBase Pro has social listening and analytics capabilities, whereas NetBase enterprise offers full functionalities. It also provides multi-language support. The company’s product offerings can be purchased online. The company also makes use of VARs, such as SAP and Polis Consulting, to familiarize its social analytics platform to other regions. Clients can make use of forums, knowledge base, online support, phone support, and video tutorials to learn more about this social media analytics platform and resolve queries easily.
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BuzzSumo is a social media influencer research tool that scans all the social media data for the users to give valuable insights into all the trends active across the globe. Data scanning and filtering according to geographical locations is one of its major highlights. The software provides real-time results of the data trending on various social platforms.

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Digimind's Smart Social Media Monitoring software allows marketers to Listen, Engage, Analyse, and Report. It helps marketers to see the conversations that matter the most, in real-time, across millions of online sources, in order to attain important insights to drive and enhance the marketing strategy. The marketers can also analyze and benchmark an unlimited number of social media accounts simultaneously with this. Digimind's proprietary Top Reputation module enables marketers to understand in real-time about their customer queries about your the products, people, and those of the competitors.
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Talkwalker helps the businesses to help the brand get information about the brand campaign and improve the campaign. Numerous successful global brands across the globe are using Talkwalker to gain valuable insights. Currently, Talkwalker consists of more than 2000 companies across the globe. It helps the brands to gain key consumer information.

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GoodData platform is powered with social media analytics. Customized pre-built templates, which comprise dashboards targeted toward marketing demands, advertising, social, and eCommerce can also be added to the platform. Organizations can make use of such dashboards and sentiment analysis to track the reception of their media campaigns or compare performances of specific social networking sites, such as Facebook or Twitter.
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Crimson Hexagon has registered its growth in the social media analytics market through its technology platforms. These solutions allow businesses to understand the driving factors trends and opportunities for their businesses by analyzing the sheer amount of data generated through social media, and then provides business-specific solutions. The company provides machine learning solutions through its BrightView algorithm that combines the machine processing speed and human analysis to obtain the best outcomes from any language at scale. Businesses can gain an opportunity to listen and monitor their customers’ conversations happening on social media, using Crimson Hexagon’s audience analysis. It allows businesses to track the campaign performance amid targeted audience segments by using Affinities solutions and helps discover untapped markets. For instance, Crimson Hexagon allowed Twitter to observe the Dove users’ beauty conversations within a year and track the customers’ experiences, which changed month-over-month.
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Sprinklr’s revolutionary Unified Platform and cloud-based user experience management solutions have been helping hundreds of leading companies for social media, paid ads, content marketing, and online business. Its Customer Experience Management (CXM) enables them to get insights from multiple social media channels and provides reports for brand-specific needs. Companies like McDonald’s, Nike and Microsoft, have used the CXM for brand enhancement.

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The Sprout platform is built to help today’s smartest social businesses place their consumers at the center of their strategic approach. The analytics tools offered by the platform enable us to drive strategic decision-making with social media analytics that helps save time and stop second-guessing. Speed up data collection, prove ROI and inform strategy using Sprout Social.

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For Simplify360
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Socialbakers Social Media Analytics Software helps users to manage their social media presence effectively. As a unified social media platform, Socialbakers makes it possible to monitor brands, spot patterns in the media and find brand advocates. It helps companies of all sizes to find influencers and harness their capabilities while they interact with a page. It can be used to track and analyze key metrics across all media channels and offer one unified solution. Use Socialbakers to compare performance against competitors using available data insights.

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Sysomos provides its products through Sysomos social media marketing and analytics platform and caters to various industry verticals, including marketing, customer care, research, human resource, legal, and operations. The Sysomos social media marketing and analytics platform gives businesses deep insight into their customers through social media marketing and provides a comprehensive analysis of the size of the audience, engagement, and their demographics. Further, it enables businesses to perform competitive analysis and helps in designing effective business strategies.
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Khoros platform, built from Spredfast + Lithium, to deliver an all-ways connected experience to the customers. It's more than just a social media management tool, it provides all-in-one customer engagement software that brings the power of human connection into each interaction. Khoros analytics enables to relentlessly improve performance and bridge silos and channels—plus take advantage of its real-world benchmarking, shared ROI, and a connected customer profile. It’s an in-built social media management platform that one can trust—under his/her biggest success or worst crisis—and that integrates AI and human connection into one common customer experience. Moreover, the platform offers the flexibility to create a solution tailored for business.

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Cision social media analytics enables one to drive business decisions, influence strategy and optimize marketing investments that lead to meaningful brand success. Cision delivers fast, flexible analytics that goes beyond counting clips to deliver the real business value of your earned media results. With Cision, you can fully understand how earned media mentions about you, your competitors and your industry are influencing the conversation, who is driving the conversation, and the impact it is having on web traffic to your site or your competitors.

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Synthesio’s BI-style reporting for Social Media Intelligence provides the best-of Business Intelligence (BI) tools, and the best-of Social Media Intelligence, that has a faster path-to-insights with the new Synthesio reporting experience. Now, one doesn’t need to be an expert to get expert reporting. Its re-thought platform offers the deepest analytics on the market. With Synthesio’s new widget builder, one can never be constrained in what combinations of metrics one would like to investigate. It helps to create a widget using whatever dimensions work best to answer the tough business questions one has.

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Germin8 Social Listening is an exclusive stakeholder insights, engagement, and social media listening platform that collects and analyses conversations in real-time from public sources and private sources, and converts them into industry-specific actionable insights and leads. Germin8 Social Listening helps companies make sense of the conversations about their brand, competitors, products, and campaigns on social media. Social listening permits users to monitor, analyze, and even respond to conversations about brand and business online. It’s an integral component of audience research.

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Unmetric is a social media benchmarking platform that helps the team make real-time decisions by comparing, benchmarking, and analyzing social performance. Unmetric offers social media analytics across major social networks to help marketers at brands and agencies create a better social media strategy. Unmetric’s reporting tools help to educate constituents on the ever-evolving impact of social media on communication, by delivering visual, accessible performance reports.

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Simply Measured provides a full set of analytical solutions to measure results and quantify performance, using the data obtained from various social platforms, such as Facebook, Twitter, and YouTube. It provides functionalities to filter by channel, media type, text, and hashtags for any profile. Organizations can use that information to determine what, when, and where posts can be added for increased customer engagement. Custom profile groupings can be created across all media channels to conduct competitive analysis. Competitive analysis can be done by comparing the social footprint of all the players to understand their offerings and improve their own performance.
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For SIMPLIFY360 INC
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Agorapulse Social Media Analytics Software is the customer engagement tool/software which uses advanced Artificial Intelligence and Machine learning algorithms to predict customer behaviors and journeys. Its intelligent algorithms are very good at predicting the prospects converting to customers. Segmentation of customers to target specific customers and bring in the leads. It helps the sales and marketing teams in closing their deals in record time for exponential business growth opportunities.
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Brand24 Social Media Analytics Software is the customer engagement tool/software which uses advanced Artificial Intelligence and Machine learning algorithms to predict customer behaviors and journeys. Its intelligent algorithms are very good at predicting the prospects converting to customers. Segmenting of customers to target specific customers and bring in the leads. It helps the sales and marketing teams in closing their deals in record time for exponential business growth opportunities.

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Brandwatch captures data from a long list of social media networks and compiles it in it's database to fetch a well and precise statistical data. It gains more relevance because it is capable of working in many languages as well. Hence a diverse geographical area and consumers is covered by this feature. 

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CARMA Social Media Analytics Software offers a media-related intelligence scale to companies across the globe. The company uses cutting edge technology and analysis experts to provide the most accurate and up-to-date information on current and possible market trends. CARMA’s service. With access to multiple databases, it analyzes and reviews content in different languages to offer actionable insights that are also relevant to individual market segments. Organizations can make informed decisions based on this information to experience organic growth.
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It serves as a comprehensive software suite by providing all the tools for social media management on a consolidated platform. Moreover, its reasonable cost for a multitude of features for community engagement, social publishing, analytics, and trend exploration, makes it a highly preferred option from the ROI perspective.

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HypeAuditor’s platform harnesses the power of machine learning, natural language processing and computer vision to offer insights into audiences. Brands can learn how influencers drive interest, find out about fake accounts, and disrupt their activity. It can help companies find the perfect fit in influencer accounts and run successful marketing campaigns. It uses AI algorithms to identify an audience’s interest and help brands stretch their marketing budgets. Available tools ensure that a brand connects with the best influencers and real followers.
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Iconosquare Social Media Analytics Software has a unique feature of determining the target audience for specific content, which in turn helps in maximizing the reach of a particular post. The strict schedule followed by the app helps in maintaining regularity. Besides, the increasing range can happen only with more than one profile because it ensures the exploration of several productive dimensions from a single, unified platform. Allotment of hashtags and mention create a wider group of followers and audience. Industry benchmarks help in retaining the quality of content. Deep insight into activities shows the efficiency of users.
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Top 10 Social Media Analytics Software and Key Features

Social media analytics software area set of analytical tools that enable the collection and reporting of data related to social media accounts. It enable the end-users to listen, monitor, analyze, and give insights from data collected from blogs and social media websites. These products are used by social media, marketing, and communications teams to identify best practices, target demographics, and analyze real-time consumer practices.