Advertising Continue reading below Correlations Whether you're analyzing audience data or post-level data from one of your active social networks, you'll want to make sure you're paying close attention to correlations, both positive and negative. Although you don't necessarily need to dive as deep as running a Pearson Product-Moment Correlation test (and frankly that might not be possible depending on the scope of your exported datasets) , it certainly helps if you can. When that's not possible, you'll just want to pay very close . For example, analyze the top performing posts in terms of Facebook shares and note if there are any similarities (e.g. post time, trending a certain color, post length, etc.) that appear in the majority of these selected items? Industry trends I'll be the first to tell any marketer about the benefits of using an industry data collection and monitoring tool like Radian6, Brandwatch, Crimson Hexagon, etc.
Data collection tools allow marketers fax list to track upcoming trends within your industry (before your competitors) and react. 6 Key Social Data Metrics Marketers Should Monitor SEJ Keep a close eye on up-and-coming conversations and conversation topics about your industry, brand, and competitors. The insights gained from this practice can help you in a number of ways, some of which include inspiring your next campaign or highlighting your competitors' missteps that you might want to avoid. Competitive intelligence Along the same lines, data collection tools like the ones listed above are great for aggregating data about your competitors. Additionally, there is a whole subset of these products specifically designed for tracking competitive data, such as Compete, Zuum, and Rival IQ.
The information that these products bring to light is crucial in trying to stand out in a crowd. When it comes to what you should be tracking when it comes to your competition, pay close attention to the proverbial negative space. Analyzing campaigns and brand presence is one thing, but there is tremendous opportunity where a competitor is not yet present. Keep an eye on competitors' average share of voice in your industry monitoring practices, and note when the conversation around one or more competitors takes a dip (or doesn't exist at all). This is where you will have the lowest barriers to entry and you will have a much easier time capitalizing on the untapped market.