Social Media Analytics New Tool

We are no longer in a time when businesses could think that it is optional to be on social media, now it is a requirement.  With Facebook having statistics like 1.86 billion active monthly users as of December 31, 2016 it shows social as being a huge opportunity for product sales and even simple brand awareness for companies.  However, it is more than deciding to open a business account and post every now and again, businesses need to track and analyze it’s efforts to be able to optimize and figure out their ROI.  Companies realize this and is why Research and Market had forecasted Social Media Analytics market to grow at a CAGR (compound annual growth rate) of 29.2% between 2016 and 2022, reaching $9,383 million.

With the analytics take over of all business functions but especially marketing, it can be easy for marketers to get a sense of data-overload.  There are so many different social media mediums to post to, use that sites analytics, combine all your data, and draw conclusions.  Luckily, there’s an app for that… sort of.  Socialbakers, a popular software for social media analytics, has just released Socialbakers Suite.  It is an all in one tool for social media analytics, management and performance.   It uses data from 10 million profiles and 10 billion post to help drive its recommendations.  There is finally a good, easy to use, product for marketers to be able to handle all of their social media strategy in one program.