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Social Media Analytics

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Social Media Analytics

  1. 1. Social Media Analytics Korzay Nayman May 4, 2015
  2. 2. 2 Preview  Interesting facts  Business  What is social media analytics  ROI`s of social media analytics  Social media use case optimization  Transforming social media into business processes  Analytics  Social web data types  Measuring the social web  Social media analytics process  Tools for social media analytics
  3. 3. Interesting Facts  1 out of every 8 people on earth are on Facebook  9 out of 10 US internet users are using social network  694,980 status updates in only one minute  250 million photos are uploaded daily  532,080 tweets are producing in a minute  Average number of friends in real life: 150 Average number of friends on Facebook:245 3
  4. 4. What is Social Media Analytics  The combination of traditional business data and social media data to make meaningful business decision  Uses for marketing and customer service activities  It is about to know • What customers talks about product or service • What is the new market trend • How to improve business image and services  Goal: Increase the ROI 4
  5. 5. ROI`s of Social Web Analytics 1. Gain a competitive advantage 2. Learn from your customers 3. Enhance your products and services 4. Better target marketing efforts 5. Market innovation 5
  6. 6. Social Media Use Case Optimization 6 Source: marketingprofs.com
  7. 7. Transforming Social Media into Business Processes  Marketing: • Provide insights into current campaigns and input for future  Sales: • Develop personalized offers to increase sales  Product Management: • Develop and evolve products based on social media feedback  Customer Service: • Respond and resolve customer issues in early stage  HR: • Understand what prospective employees think about the company 7
  8. 8. Social Web Data Types  Quantitative data: • New likes, page views, number of clicks or tweets, profile data  Qualitative data: • User location, language, comments, interaction times  To obtain each social metrics from various sources for better understanding  But there are many sources 8
  9. 9. 9 Measuring The Social Web Apps There are three concepts: 1.Funnel Analysis 2.Engagement Tracking 3. Visitor Retention
  10. 10. 1.Funnel Analysis  Measuring conversation rates  Total number of visitors  Who access to page  Who did a desired action(create a page)  Twitter`s sign up funnel 1. Hit homepage 2. Go to signup page, fill out the form 3. Browse suggested topics 4. Add e-mail friends 5. Search for someone  Ex: Add e-mail friends has huge drop-off (why?)  Finding and improving trouble spots in website 10
  11. 11. 2. Engagement Tracking  Measuring what people do • Page view tracking become less relevant • Tracking actions become more relevant  For example: Twitter • How many tweets the average person sends • What people are searching or following for  Traditional analytics tools are useless • Sites are more dynamic, impossible to track page view  AJAX loading technologies are using for interactive webpages 11
  12. 12. 3. Visitor Retention  How many people come back?  Best way: Look at group of people from single time period • A week, A month • Track the behavior over the time 12
  13. 13. Social Media Analytics Process 13
  14. 14. Analytics Tools  IBM Social Media Analytics  SAS Social Media Analytics  Google Analytics  Salesforce`s Marketing Cloud  Hootsuite  Crowdbooster  Twazzup (Twitter) 14
  15. 15. References Trefren, T. (Feb 2, 2010). Three new ways to measure the social web. Retrieved from http://mashable.com/2010/02/02/social- analytics/ All about social media analytics. (August 23, 2012). Retrieved from http://retvic.wordpress.com/2012/08/23/all-about- social-media-analytics/ Fan, W. & Gordon, M. (June, 2014). The power of social media analytics. Communication of the ACM, 57(6). IBM(2013). Social business analytics. Retrieved from http:/ /www-01.ibm.com/common/ssi/cgi-bin/ssialias? infotype=SA&subtype=WH&htmlfid=YTW03279USEN Nanji, A. (March 13, 2014). Retrieveing from http:// www.marketingprofs.com/charts/2014/24643/why-marketers-use- social-media-analytics-tools 15

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