The Internet is new every single day, and so are the trends. Social analytics now rule board meetings and drive executive decisions. These arose from the unseen depths of your Facebook ad account.
In this article, we will cover the up-and-coming social analytics trends in 2023 and how they will shape the way businesses build their online brand for the rest of the decade. Let’s go!
Here are the social analytics trends to look out for in 2023
1. AI is here
AI has been here for a while now. But in 2023, we expect businesses to stretch their operations with AI. The reason? Currently, nearly 90% of the data collected by businesses is unstructured. It is therefore mostly unusable.
This includes almost all middle- and small-scale businesses. They struggle to analyze the data they collect. This has an adverse impact on their marketing. AI is the answer to these issues. Markets also agree with this.
As per a survey, the involvement of AI in social media will be around $ 2.2 billion in 2023, shooting up from $ 0.6 billion in 2018.
AI and machine learning (ML) technologies’ next big launches will target such businesses. The problem they are eager to solve is data analysis.
Businesses are now able to analyze data in a smarter, faster, and more cost-effective way. They are able to do this through AI. But by combining both AI and ML, businesses will be able to uncover the hidden value of the unstructured data at their disposal.
Whether it is language model applications like ChatGPT or leverage models that can generate SQL queries from natural language, 2023 is the year in which we will see businesses use these tools. They will use these to locate and extract data with nearly 95% accuracy.
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2. Data is inspiration, not just information
Businesses have long used data as a guide when it comes to taking decisions. Social media marketing, on the other hand, is a completely different ballgame. In 2023, using data alone will no longer be enough. You need to optimize your social media presence to craft a strategy. This should be the strategy that works for your business.
For example, a blog post that works superbly on your website cannot be broken down into 30 tweets on Twitter. Similarly, funny quips that garner attention and leads on Twitter cannot be elaborated into a solid blog post with a CTA.
Data is only half information. In 2023, content marketers and social media managers must step in and optimize every post thoroughly. Your strategy should have a mix of content that is liked by your audience. This is what has been informed by social analytics.
Here’s what the balance of your social media calendar should look like:
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3. Social media metrics will be a part of company KPIs
2023 will be the year in which most B2B businesses will start including social media metrics as key performance indicators. Yes! This practice will no longer be exclusive to the media and entertainment industries.
Social media platforms and review sites provide immense data sources and insight into a brand’s customer base. Active social media usage will reach 4.5 billion in 2022. So now businesses will have the secrets of lead generation and conversion at their fingertips.
This will also bring another challenge to the surface. This will be the internal fight for budget allocation. Organizations will see the value of social media beyond posting the annual Christmas day graphic. This will come up in resource and budget allocation. Businesses will no longer be able to get by with one person creating social media content and handling the posting schedule all on their own.
Read Also – Top 10 Social Media Trends That’ll Help You Stay Relevant in 2023
4. Social listening will be prominent
Social listening is known as the upkeep of your social media channels, your prime keywords, and the mentions of your brand. The coming decade will be marked by increased attention to building your audience via personalization and customer care.
This also means opening yourself up to negative remarks, low-star ratings, and negative feedback. Here, social analytics will have a heightened role in analyzing customer responses to product launches. This will serve as a crucial data point for new launches.
5. Sales will be based on social analytics
B2B sales will move towards account-based marketing. Businesses will focus on making launch and sales decisions with the help of social analytics.
Businesses will also start capitalizing on the weaknesses of their competitors with unique insights from social analytics. They will also gain more expertise in dealing with their customer’s problems. Lastly, the sales data gathered during the promotion of new products will help in improving their persona pitch.
6. Data integration will be championed
One of the biggest pain points for marketers is the lack of integration with other technologies. The growing trend in the social analytics field will be tools that can compile and unify the data collected through various social media platforms.
Data integration already ranks as the top initiative of the last decade. Soon enough, we will see business intelligence tools. These can perform boolean searches and social listening. They can also work with AI to produce content.
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7. AI will connect the gap between social listening and insight
Social listening continues to be a largely manual task. Every month, it necessitates nearly 80 hours of labor from social media terms. This includes tasks such as text and image analysis, data reports, and keyword searches.
In the coming decade, we will see platforms innovate with AI. They will adapt to newer methods of machine learning. These can build reliable word libraries. Additionally, we will also see a prescriptive and predictive analysis. This helps us get accurate recommendations on social media marketing strategies and valuable social listening insights across the enterprise.
Here are the five major areas that AI will focus on:
The Industry-wide Transformations We Can Expect in 2023
Now that you are aware of the industry-wide trends that you can expect in 2023, let’s learn about how your businesses can accommodate these changes.
Invest in smart social analytics
Analytics is about to become more democratized, composable, and highly pervasive. This is the right time to put your money where your mouth is. Invest in data tools. These help you expand your business.
Adapt to real-time decision-making
As we talked about above, data is only half of the information. It cannot be taken at its word. Because that’s exactly what your competitors are doing. Instead, optimize ruthlessly. Test multiple thumbnails. Shuffle keywords around. Also, get comfortable with making real-time decisions as social analytics demand.
We can expect social analytics to go through an industry-wide transformation in the coming year. But ultimately, social analytics is data. Data is considered to be the new oil. But it also needs a powerful engine that can harness its efficiency. New businesses will need to build robust analytics foundations to expand their businesses.