Social media measurement tools group 1

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Social Media Analytics

Submitted By:

FT13177 Sukhda Dhal FT13366 Sandeep Shesham FT13174 Sneha Nandlal Nichani FT13384 Vaishnavi Shrikhande FT13162 Sahil Surana

Learning

Engaging

Measuring

Listening

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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.

What is SMA?

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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 media and be prepared to defuse PR firestorms

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Who Benefits?

Social Media AnalyticsEasy Escalation & Resolution

Reduced Customer handling time

Measure Conversion rates, Campaign Effectiveness

More Engagement whit Customers

Customer Acquisition & Retention

Lead Generation

Social campaigns

Sentiment Analysis

Improved Customer Satisfaction Improved Marketing Efforts Improved Sales Efforts

Better ROI

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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

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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

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Social Media Measurement

Key Performance Indicators

Social Marketing

Goals

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Key Performance IndicatorsMetric Description

Share of Voice Number of conversations about a company versusits 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 recommendingthe brand/products/services on the social channels

Net Sentiment Consumer brand perception analysis and voice of the customer opinion mining

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Key Performance IndicatorsMetric 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 discussthem 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

DemographicMetrics

The collection of metrics making up the background details of 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.

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Mapping of the business objectives and KPIs

Business Objective Key Performance Indicator

Foster Dialogue Share of VoiceAudience EngagementConversation Reach

Promote Advocacy Active AdvocatesAdvocate InfluenceAdvocacy impact

Facilitate Support Resolution RateResolution TimeSatisfaction Score

Spur Innovation Topic TrendsSentiment RatioIdea Impact

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Competitive landscapeSocial 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

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Challenges

• Dominance by Globally large playersGoogle 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.

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Facebook Dashboard

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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

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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.

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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..

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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 PerceptionCollective 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

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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’ dataDeveloping 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 AnalysisQuickly 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

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