Web analytics and social media monitoring

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Web analytics and social media monitoring

  1. 1. Web analytics and social mediamonitoring in industrial marketing:Tools for improving marketing communication measurementAuthors:Joel Järvinen, University of Jyväskylä, FinlandAarne Töllinen, University of Jyväskylä, FinlandHeikki Karjaluoto, University of Jyväskylä, FinlandElisabeth Platzer, Evolaris next level GmbH, Austria AMS Annual Conference - New Orleans 2012
  2. 2. What the study is all about?The study... ◦ investigates how the online environment allows industrial companies to overcome traditional marketing communication measurement challenges ◦ examines the perceived benefits of web analytics (WA) and social media monitoring (SMM) with regard to solving the measurement challenges ◦ compares the results with findings from within the financial services industry in order to illustrate the challenging operational environment encountered by industrial businesses AMS Annual Conference - New Orleans 2012
  3. 3. Study background Persistent challenges related to showing the contribution of marketing actions to business performance Weakened stature of marketers within firms Increasing pressure to make marketing more accountable AMS Annual Conference - New Orleans 2012
  4. 4. Study Background (continued) Digitalization has brought new opportunities to make marketing more accountable ◦ User behaviour can be traced on websites ◦ Firm-related online discussions can be monitored Various requests for more research on the possibilities of marketing measurement empowered by digital solutions “Everything can be tracked” AMS Annual Conference - New Orleans 2012
  5. 5. Study Background (continued) Clearly, in many industries marketing measurement has become significantly more accurate in the online environment, but it is not so clear... ...how industrial companies with fewer customers, fewer transactions and longer purchase decision cycles are able to improve their marketing measurement accuracy via online measurement solutions AMS Annual Conference - New Orleans 2012
  6. 6. Conceptual model
  7. 7. WA & SMM Online environment solutions to overcome the measurement challenges ◦ WA = „the measurement, collection, analysis and reporting of internet data for the purposes of understanding and optimizing web usage‟ (Web Analytics Association 2011)  tracking customers’ online activity on the company website and linking specific online marketing communication actions to sales or customer leads ◦ SMM = Tracking and analysing electronic word-of- mouth (eWOM) information regarding specific keywords (Sponder 2011)  to monitor online discussions related to the company or to particular marketing campaigns. AMS Annual Conference - New Orleans 2012
  8. 8. Conceptual model (continued) AMS Annual Conference - New Orleans 2012
  9. 9. Methodology Exploratory case study with qualitative approach Three industrial firms + one financial services company investigated ◦ firms selected by purposeful sampling ◦ industrial firms investigated as a single entity ◦ cross-case analysis conducted between the group of industrial companies and financial services firm 11 face-to-face interviews conducted ◦ interviewees selected by purposeful sampling ◦ 9 interviewees from industrial firms ◦ 2 interviewees from financial services company AMS Annual Conference - New Orleans 2012
  10. 10. Results Major sources of measurement challenges identified in industrial companies Lengthy selling process (purchase decision never solely based on a specific marketing communication action) Long-term impacts investigated by surveys, but no ideas how the survey results correlate with long-term financial outcomes AMS Annual Conference - New Orleans 2012
  11. 11. Results (continued) Short-term measurement with WA ◦ WA has enabled industrial firms to... examine how much attention and traffic a specific online marketing communication action attracts to the company website track the purchase intentions and sales leads generated through specific online campaigns ◦ Financial services firm was able to link an online campaign all the way to the actual transaction AMS Annual Conference - New Orleans 2012
  12. 12. Results (continued) Long-term measurement with WA ◦ WA has enabled industrial firms to... perceive the interest, reactions and viral effects gained with a specific online marketing action ◦ However, the WA data... does not reveal if the message was received by those who it was targeted to and understood in a way it was designed to be understood AMS Annual Conference - New Orleans 2012
  13. 13. Results (continued) Long-term measurement with SMM ◦ SMM has enabled industrial firms to... monitor and discover company-related discussions ◦ However, the SMM data... has not essentially helped in overcoming long-term measurement challenges ◦ No major differences were found between industrial and financial services sector in terms of long-term marketing measurement opportunities with WA and SMM AMS Annual Conference - New Orleans 2012
  14. 14. Conclusions Online environment has significantly improved industrial companies’ ability to show the contribution of short-term marketing outcomes Despite the advancements of WA and SMM, industrial companies will continue to struggle in their efforts to show the long- term financial value of marketing activities Operational environment seems to have a major influence on the perceived usefulness of WA and SMM AMS Annual Conference - New Orleans 2012
  15. 15. Conclusions (continued) Industrial companies could significantly improve their marketing measurement accuracy by developing effective process for tracking sales leads and calculating average life-time value for a customer lead It seems that industrial companies must still depend largely on surveys to find out long- term impacts of marketing actions, although the advancements of SMM may change this in the future AMS Annual Conference - New Orleans 2012
  16. 16. Questions and Discussion AMS Annual Conference - New Orleans 2012
  17. 17. AMS Annual Conference - New Orleans2012

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