The evolution of internet has made a tremendous change in the lifestyle of the people on the planet earth. Human beings are depending so much on it, that it is difficult to survive without internet even for one hour. Social media analytics is the practice of gathering data from social media websites and analyzing that data using social media analytics tools to make business decisions. The most common use of social media analytics is to mine customer sentiment to support marketing and customer service activities. In a broad sense, social media refers to a conversational, distributed mode of content generation, dissemination, and communication among communities. Different from the broadcast-based traditional and industrial media, social media has torn down the boundaries between authorship and readership, while the information consumption and dissemination process is becoming intrinsically intertwined with the process of generating and sharing information. And Social Media is a backbone for most of the people on the internet. For business today social media is a medium from where they lure to their customer and sell their product or services.
Gone are the days when social media’s effectiveness was measured by the number of visits or followers etc. Now a day it’s very important that how we measure social media analytics and the effectiveness of the visits and whether they are contributing to the Return on Investment ( RTO ) or not. Here it is not restricted to only one platform e.g. Facebook but twitter, Instagram, Pinterest, Youtube etc. also are very much important for business and here we will discuss that only. Social Media Analytics is a new research area in which interdisciplinary methods
Combined, enhanced and customised to evaluate social media data. Next In answer to research questions, it is also a goal to design architectural designs for to provide the development of new information systems and applications based on based on social media. The article presents the most important aspects of Social Media Analytics and points to the need for a cross-curricular Research agenda, for the creation and processing of business information systems important role.
The Internet and mobile technologies have been the primary force behind the rise of social media, providing technological platforms for information dissemination, content generation, and interactive communications. In fact, major components of social media such as user-generated content or consumer-generated media have been viewed as the defining characteristics of Web 2.0. From a tool perspective, arrays of Web-based applications define the way social media functions. Examples include weblogs, micro blogs, online forums, wikis, podcasts, life streams, social bookmarks, Web communities, social networking, and avatar-based virtual reality.
There are four phase of social media analytics
- Find the right tool
- Installation
- Reporting or listening
- Actionable points
First you find the best tool within your budget and see if it is fulfilling all your criteria e.g. Visits, avg time spent, conversion, social media listening etc Once you figure out the best tool ( few of them are Google Analytics, Hootsuite, 33Across, Brand Watch, Web Trends, Radian 6, Omniture etc ). This allows enterprises to extract information about how the public perceives their brand, what kind of products consumers like and dislike and generally where markets are going. Social media analytics makes it possible for businesses to quantify all this without using less reliable polling and focus groups. Then comes the installation part where you use some kind of Javascript code called pixel or tracking code on each of the properties with various parameter e.g. for Facebook its FB, for twitter its two and so on. Once installed you do a test run and do a conversion activity and finally see the analytics dashboard whether it is reflecting all the parameters or not. After getting the data it’s time to make some action point based on the data gathered.
Social media has become one of the largest data banks available to companies looking to learn more about their customers. It’s also developed into a key customer touch point, both for spreading marketing messages and gathering feedback. With the emergence of such a powerful resource, many organisations have begun to take social media data seriously and are working to analyse it to better understand customer preferences and improve their ability to detect potential business problems.
About the Author
Bhaskar Anand is a Digital Marketing Head in Mavenclickz Media. He is a seasoned & accomplished professional with expertise in 360-degree Digital Marketing solutions i.e. Adwords, Adsense, Email Marketing, Search Engine Optimization, Social media marketing which includes a thorough knowledge of Google services & Yahoo Search Marketing and Analytics (Google Analytics, Overture and other popular analytics tools)
He brings with him sound national & international experience of more than a decade. He works on diverse digital advertising projects as Subject Matter Expert and now a trusted & preferred partner of clients.
Bhaskar caters to many well-known corporate which includes fortune 500 companies to foster their business’s visibility which in turn leads to overall organizational success.
