Business Transformation
17.7K views | +0 today
 
Rescooped by Karl Wabst from Modern Marketing Revolution
onto Business Transformation
Scoop.it!

Is Your Business Monitoring What Matters On Social Media? [INFOGRAPHIC]

Is Your Business Monitoring What Matters On Social Media? [INFOGRAPHIC] | Business Transformation | Scoop.it

A recent study revealed that almost half of companies are not monitoring their online social media communities.

 

More than one-third said that they only measure Likes, comments and interactions on Facebook, with fewer than one in four actively measuring the ROI of their social media campaigns.

Social media affects your bottom line; brands that are proactively using these tools see numerous benefits. And for those that aren’t, the absence of social media can also impact their bottom lines, albeit in a very different way.

This infographic takes a closer look at why the shift to in-depth social media monitoring is critical for the modern business.


Via Lauren Moss, Ryan O'Neill, Art Jones
Karl Wabst's insight:

The recent SEC ruling on Regulation FD may bring more attention to social media monitoring. http://sco.lt/5GMM1x

more...
Martin (Marty) Smith's comment, April 19, 2013 2:08 PM
Irvin There is a trick. Convert your Social Media into some currency you are more familiar with. Divide followers by your sales or profits or traffic and you create a ratio between a leading and following indicators. Sales is following, traffic is leading. I just put a riff about this on Martin W. Smith on G+ too.
Irvin Banut's comment, April 19, 2013 3:49 PM
Thank you so much Martin for this valuable insight. I will definitely check out Google+ as well.
Drew Hodges's curator insight, February 19, 2015 5:58 PM

This article looks at how we have almost become lazy with our sampling methods. For example when we look up keyword searches like a brand name, it is more effective to look at the whole conversation. Another common metric we use is using sample sets of data, although there is so much data it would be impossible to look at every single piece of data, it is important to set a sample size big enough so that the data has minimal outliers. For example a sample size of 10 might give you a totally different picture than a sample size of 100.  

 

What is not talked about in this article that was touched on in class was the idea of getting the whole picture. For example with software they may be using keywords like they say in the article but it may not have the typical connotation when read in context of the statement. 

Business Transformation
Corporate & Business Strategy Planning / Execution. Want to know more? Visit me on LinkedIn: www.linkedin.com/in/karlwabst/
Curated by Karl Wabst