Focussed not just on social media metrics, but on business results
Till 2013 social media analytics was focussed on social media metrics like reach, impressions, page likes, post likes, number of retweets. It was only in 2014, that there was a focus on measuring business results (online orders, lead generation, sign ups etc). This trend is likely to get more entrenched in 2015, with even small businesses focussing on achieving their business goals via the digital medium. With free tools like Google Analytics and Facebook Insights, brands can now track how many leads or online sales or signups they had and as to which digital medium helped them get these results.
For example, for some of our ecommerce companies close to 30% of revenue comes from Facebook and upto 5% from emailer campaigns. Moreover, we are able to identify which ads contributed to the revenue and leads. While it’s important to engage with the audience within Facebook, we have found it to be more effective to drive traffic via Facebook Ads directly to the website or landing page and track results there.
So it’s no longer going to be just about acquiring fans or engaging with the community, but about how the brand is being built and what results are achieved.
Using CRM to build a single view of the customer
Retailers, E-commerce sites and larger enterprises have started initiatives to integrate offline data with data from multiple online channels including website, emailer campaigns, Facebook, Instagram and other social media channels. Powerful CRM tools are going to enable brands to build a single view of the customer and to see what kind of targeting communication can be given to them. Around the world, tools like Marketo, Act-On & Sailthru have been doing this at an enterprise level but in 2015 such tools will become more accessible to small and medium enterprises even in India.
Focus on consumer insights to serve the right ads to the right people
Machine Learning Analytics & Automation will help brands focus on granular consumer insights and allow for right ads reach the right people. Tools like FanPlayr & Gigya already have powerful & intelligent tools to enable this and these are going to get more sophisticated over time.
For example, Planet Superheroes, which is into Superhero Merchandise has used FB to segment users who like specific superheroes and are online spenders in India. So superman t-shirt ads are targeted to users who like Superman and fit into the age & location demographic relevant to the brand. This level of granular targeting is possible only in social media.
Content creation based on analytics
Social media listening tools and content analysis is starting to happen where brands can predict what kind of content will help in engaging with their audience. Brands like Red Bull have kept content at the core of the digital strategy and that’s the approach many brands are starting to take.
James2015-02-04 < Reply
Social media is very huge platform and mass of people using it, so for marketing, it is best and also more and more people can know about your brand and services, trends are changed day by day so analysis is important and I think this is very nice article to understand about how can we analyze today's trend and very helpful. Keep it up!
Social Beat2015-02-06 < Reply
Thanks for your feedback James. We couldnt agree more - only with analysis and analytics can you move forward with your social media & digital strategy.