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Social media measurement tools group 1

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Social media measurement tools group 1

  1. 1. Social Media Analytics Submitted By: Listening Measuring FT13177 Sukhda Dhal FT13366 Sandeep Shesham Engaging FT13174 Sneha Nandlal Nichani FT13384 Vaishnavi Shrikhande FT13162 Sahil Surana Learning 1
  2. 2. What is SMA? SMA = Measuring + Analyzing + Interpreting interactions and associations between people, topics and ideas. Social media analytics is a powerful tool for uncovering customer sentiment dispersed across countless online sources. The analytics allow marketers to identify sentiment and identify trends in order to accommodate the customer better. 2
  3. 3. Why is it essential today to know what consumers are saying about your brand on social media? • The digital revolution and the advent of social networks are providing unprecedented opportunities to customers to voice their opinions and research about the product/brand they use • This informal information about the customer will help in channelizing marketing efforts more effectively and efficiently • Social Intelligence gives us the ability to:-  transform positive customer experiences into targeted marketing opportunities for your brand  transform negative sentiments into positive customer experiences  Identify sales leads opportunities and increase your conversion rates  Know what customers think about your competitors to strategize ahead of the game  Receive early signals of brand disasters on social 3 media and be prepared to defuse PR firestorms
  4. 4. Who Benefits? Social Media Analytics Easy Escalation & Social Resolution Lead campaigns More Engagement Generation Measure Conversion whit Customers rates, Campaign Reduced Customer Effectiveness Customer Acquisition handling time Sentiment & Retention Analysis Improved Customer Satisfaction Improved Marketing Efforts Improved Sales Efforts Better ROI 4
  5. 5. Type of DATA  Structured as well as unstructured  Structured data is one that can be stored in relational databases, can be easily queried and interpreted.  Unstructured data is Data that do not reside in fixed format fields.  refers to information that either does not have a pre-defined data model or does not fit well into relational tables.  Examples include free-form text , untagged audio, image and video data, blog posts, conversations threads, emails, telephonic conversations etc  Big Data poses certain challenges that include capture, curation, search and visualization 5
  6. 6. Using Social Media Analytics – Business Drivers • Organizations will have their own specific motivations for adopting social media and therefore will have different set of analytics framework. Some of the key drivers for adopting social media include:  Market Research and new product development.  Top pressures driving social media monitoring.  Need of better consumer insight.  Need to gain competitive intelligence.  Need to improve customer satisfaction.  Need to increase Return on Marketing Investment(ROMI)  Top strategic actions to maximize social media spend  Improve ability to respond to customer wants and needs  Build social media measurement into marketing campaigns and brand promotions  Maximize marketing campaign and effectiveness  Align social media monitoring capabilities to overall business objectives 6
  7. 7. Social Media Measurement Key Performance Indicators Management Business Objectives Strategy Social Marketing Goals 7
  8. 8. Key Performance Indicators Metric Description Share of Voice Number of conversations about a company versus its competitors/market Engagement Rate Number of interactions divided by the total number of fans multiplied by 100 Customer Touch Rate Number of acknowledgements/replies provided by the brand in comparison with the total number of issues raised Influencers Number of individuals or web entities that have a strong following/readership within the social media channels Advocates Number of individuals who are recommending the brand/products/services on the social channels Net Sentiment Consumer brand perception analysis and voice of the customer opinion mining 8
  9. 9. Key Performance Indicators Metric Description Viral factor The amount and speed at which a discussion spreads, measured by the number of different entries around the same topic within a certain time period. Topic Frequency The most common themes for consumer discussion around a brand. Marketers use topic frequency data to collect insight into how consumers view their brands and how they discuss them online. Message Reach The number of eventual impressions of an online discussion. Measured by the number of different sources covering a topic and each source’s potential page views Demographic The collection of metrics making up the background details of Metrics online consumers. Listening platforms can collect data on consumer location, gender, and age. Marketers use demographic data to determine whether their campaigns reach targeted consumers. 9
  10. 10. Mapping of the business objectives and KPIs Business Objective Key Performance Indicator Foster Dialogue Share of Voice Audience Engagement Conversation Reach Promote Advocacy Active Advocates Advocate Influence Advocacy impact Facilitate Support Resolution Rate Resolution Time Satisfaction Score Spur Innovation Topic Trends Sentiment Ratio Idea Impact 10
  11. 11. Competitive landscape Social Ranking and Relevance  Measuring, analyzing and quantifying an individual's influence across his or her social graph  Simple to complex products, offering raw and recent data to processed and historic data analysis Monitoring and Analytics  Visual reports and dashboards  Large array of Data feeds gives reliable analysis  Sector Specific focus like PR specific analysis Social Network Analysis  Determine influencer and sentiment ratings  Mine data on conversations across geographies and media types 11
  12. 12. Challenges • Dominance by Globally large players Google analytics have the edge of already being widely present in the web analytics. Improved applications specific for SMA can still use the data of users with Google accounts spread all over the world. This makes access to demographic specific information easy. Some of the tools/applications used by Google for SMA  Sprout Social – compares Website traffic Vs Social media Activity  Argyle Social – Multi channel social publishing, customer engagement  Campalyst – ROI is for social media spend Facebook offers basic insights and feeds about your marketing campaign . It also gives a consolidated marketing platform that helps you develop and promote adds and then monitor details like total reach, engaged users and virality. A lot of small agencies use such applications to actively manage social media activities. In such scenario it becomes difficult to engage small and medium business owners to move out of this zone. 12
  13. 13. Facebook Dashboard 13
  14. 14. Challenges • Consolidation of analytics vendors will continue  Companies with a core competency in this field are acquired by more established software and consulting firms  Many Web analytics, CRM and social media management firms are investing in social analytics in order to dissuade established customers from seeking potentially disruptive external partnerships. • Mobile Data Social Media and other services present in form of mobile apps are already tracked. But access to additional in-app behavior is needed for better insights. • Visualization techniques and the UI will differentiate tools Systems that have consistent workflows that match the task at hand, that provide familiar, easy-to-use features, and that have sophisticated data visualization strategies will allow users to perform analysis and derive results more quickly. • Linguistic and other challenges will demand architectural flexibility • Making conversation analysis trustworthy 14
  15. 15. Tools Sysomos • Create a real-time picture on how products, people, and brands are covered in those media sites • Designed to analyze conversations, themes and identify key influencers  Media Analysis Platform (MAP), mines and analyzes content from social media or user-generated content. MAP is specifically used for text summarization and visualization features along with granular segmentation capabilities by geography and demographics  Heartbeat is a cost-effective, real-time monitoring and measurement tool. Heartbeat provides constantly updated snapshots of social media conversations delivered using a variety of user-friendly and intuitive graphics. Heartbeat organizes conversations, manages workflow, facilitates collaboration, and provides ways to engage with key influencers. 15
  16. 16. Tools Alterian - SM2  Data is mined through a search and filtering system  Data drill-down capability that helps find the root of customer issues or identify trends  Main advantage is that it gives depth of functionality  It has large assortment of charting and data visualization tools, from which they can recognize important topics . Radian6  Acquired by salesforce.com in April 2011  It offers more self-service functions and tracks a very wide range of online social conversations  Enables its customers to track blogs, forums, online and real-time news, social networks, media-sharing sites, and many other forms of online conversation and consumer sharing service  Sentiment is measured, and through features such as conversation management, dashboards and engagement mechanisms, users can listen to, measure and respond to their customers across the Web.. 16
  17. 17. Tools Attensity  Their NLP capability is the key advantage along with the ability to manage voluminous amounts of data mined from customer-defined feeds. CNW Group (MediaVantage)  Specializes in the field of PR  Brand Perception Collective Intellect  CI:Insight is an enterprise-class social media analytics platform  CI:View is a fully configurable, always-on, key performance indicator executive dashboard that enables the presentation and correlation of social and private data  CI:Listen, a powerful monitoring system, tracks topics and activities 17
  18. 18. Future Demands & Opportunities • Connect Social Media to Business Results, such as rev-enue, for reports that will show exactly how much rev-enue each post drove. And that helps you mea-sure a tan-gi-ble return on your social investments. • Integrating sophisticated mobile apps’ data Developing capabilities in the mobile sphere to capture data such as navigation through applications. As more and more retail giants bring in mobile apps, for example ZARA, more opportunities await on that front • Competitive Analysis Quickly compare reach, share of voice and brand impact against competitors, as well as different topics and brands. • Easy to navigate and self explanatory dashboards with more appealing UI and better customization • More accurate and robust analysis. Basic algorithms take into account only crude cues. Some such tools are available on the net for minimal/ free amounts. Complex algorithms that can command business for paid services • Real time reporting and more dimensions given for better segmentation • Develop competencies for cross lingual analysis 18
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