With the growth of social media marketing has come the related increase in the use of analytics to measure the effectiveness of social media. As we have reported before, Google Analytics has been the leading tool for marketers in studying their social media performance.
Now, new research from Demand Metric (sponsored by NetBase) highlights how companies are using social media analytics. According to eMarketer,
“The rise in social media analytics tools has satisfied marketer demand for a way to measure and gather insights from social marketing efforts. Nearly two-thirds of organizations in North America have adopted them, according to a January 2014 study by Demand Metric sponsored by NetBase. And this group responded quickly to the release of such tools — over half of takeup had occurred in the previous two years. How are marketing professionals using social media analytics tools for optimization? The top response among those polled by Demand Metric was campaign tracking (60%). This was followed by brand analysis (48%) and competitive intelligence (40%).”
Nowadays, almost every company realizes the importance of social media but a large group, 40% of totoal companies, still doesn’t measure the performance of social media carefully by professional tools. The big mistake made here. Either missing valuable information or collecting biased information generated from social media will result in a very poor response for market.
I think this is great! Companies are starting to more effectively use social media more and more and realizing that it is one of the most effective marketing tools (and potentially pretty inexpensive) out there! Using their analytic’s is a way to actually track the progress of social media marketing and I am sure they only support my previous statement. For success, all companies should be measuring their social media campaigns and in that same thought, all companies should DEFINITELY be on some sort of social media. Nowadays I am cautious of a company that does not have any sort of website or social media account.
It’s in every company’s benefit to be using social media for promotion and advertising as a massive amount of time is spent online by younger generation. The biggest challenge, however, is in converting the online popularity or interaction into sale. It’s much easier for online services than it is for offline services/goods. There’s still a long way to go for companies to successfully do so.
Being someone who is interested in doing research on marketing through social media, I think this is an extremely relevant article for the times.
With the growth of modern technology, we are increasingly becoming disconnected with the human element of interaction. Social media provides a substitute for it with the efficiency of technology. Over the years as MySpace became en passé and Facebook and Snapchat became the norm, marketers started using social media marketing as a useful tool. I think that social media can be a really effective tool for medium, small and large businesses alike. Social media analytics are really useful as they help a company understand in a quantitative context how effective their marketing campaign has been in a certain light. For example, Google Analytics tells a company information like which sites drive the most traffic to their pages, what errors the website has, metatagging issues etc.
Indeed, Google Analytics has been the leading tool for marketers in studying how they perform using different social media networks. It’s very vital cause social media marketing never equals effective marketing. The point is how many customers keep focus on the same campaign, how much social media campaigns convert to profit. As individuals, it’s important for us to see how Google analytic works, what’s the key metrics judging a campaign’s performance. As marketing major students, we need to communicate more with IT major students, cuz Google analytics is the combination for both.
Personally, I think social media marketing is a great method of marketing with convenience and high technology. I mean, it can do the marketing quickly and also have access to a large range of resources. Such as you can insert a link when you do marketing through social media, as well, you can add a photo or a post, it’s very flexible and convenient. Besides, it may promote your company by expose marketing towards lots of potential customers who enjoys surfing on internet.
This often starts in online forum and cause offline beneficial relationship.
People are often placing greater credibility on social media and user-generated content than professionally written editorial reviews and information. Social networking is all the rage,
and now businesses are beginning to understand the value of effectively using social networking tools that literally reach millions of potential customers every day.