Social Media Analytics – Knowledge and Insights at marketers’ fingertips!

The reach, impact and frequency of social media are truly breath-taking, even more so considering its advent was just a couple of years ago.  This medium has innocuously brought about a sea change in how brands seek to promote themselves, listen to, disseminate info to, engage and seek feedback from their customers.  Analytics is the key to equipping corporations in gauging their marketing efforts; understand customer behaviour and in turn incorporating them in their decision making. 

Some translations from marketing concepts into analytical terms and specific metrics used to measure these can be as follows-

Some of the popular tools that can be used for social media analytics used across different social platforms include –

                                                      

These tools mentioned can be used to arrive at the ROI. The ROI can be chosen to b e from either financial or non-financial outcomes. The non - financial outcomes include followers increase, engagement levels increase, etc. Also, the number of redirections to the company's web page through social medium can be taken as a non-financial outcome. For example, using Google Analytics, this can be got and also how many of these visits actually resulted in further obtainment of information and subsequently requesting a quote or placing an order can be derived. Also, enterprise tools like Salesforce Buddy Media and Adobe Social can be used to measure the ROI.

                                                                 Written by-

                                                                 Shravan Kumar Kailasa
                                                                 E-Mail ID: pgp13119.shravan@iimraipur.ac.in