Marketing in the social media sphere is not as complicated
as you might think. When deciding on a new store location, business leaders
will look at demographics, where the customers are most likely to be at, and
have the best access to what they want. The same goes with Social Media. Businesses
need to understand what each of the platforms is best for and where you market
is and isn't. They also must understand what is being done on these platforms.
It all boils down to a simple point: “social media provides a human connection
that is often missing from most websites.” Social media gives a place for a
community to be built, allowing customers to connect, share, and participate
with others who share a common interest. The goal is to engage the customer and
participate in the social dialogue.
Pushing content to customers through web links does not work. Focusing
on solving customer problems is the key. (Tom Morse, SAS)
How does this relate to analytics you may ask? Analytics is
the tool used to determine whether or not the social media efforts are being
effective. Goals should be made as social media platforms are used. How many
likes did a Facebook page or post get? How many followers were gained on
twitter or how many people re-tweeted your twitter post? These are only a few
examples of metrics that can be used to rate the effectiveness of a business’s
social media efforts. Collecting this data and mining customer response so that
analysis can be done is where the real power of analytics lies. A business can
evaluate the interest in a product or get feedback for free regarding how they
are doing. Monitoring social media can provide great benefits as text is
analyzed to rate the positive or negative tone of feedback on a topic, or how
often a product or company is referenced in comments or posts.
As with any analysis initiative, business goals must be
clearly defined and translated well into how performance will be measured. Without
this, the data that is collected could be completely worthless, for example:
tracking the number of twitter followers and un-followers. Does this really
tell you anything about how your message is being received? There may be a little correlation until you
realize that there are a number of malware bots that follow and un-follow people
all the time. Are your customers even using Twitter or would Facebook be a
better fit for a social connection with customers? Are your initiatives bringing more attention to your website and product or just keeping customers on the social platform? Having the ability to
identify where, when and how social media effectively influences customers
helps to determine the appropriate strategy to take advantage of the potential
that is there. (Avinash Kaushik)
What are some best practices for analytics you've seen in
developing a strategic plan for social media?
I have this friend (we'll call him Chris) who published a blog about social media analytics. He posted the blog on social media sites, and I'm pretty sure that he employed some analytics.
ReplyDelete-Michael D.