Getting budget to spend on social media is one thing – actually being able to measure and take action quite another. For example, if you have hired someone to build up your social audiences, you are likely to create some serious awareness for your company/product.
The question is: have you taken the necessary steps to take action on the success of that effort?
Recently, we have seen companies fail at social media marketing by not fully taking action, while others commit to spending more. For the ones that are spending, there are some common steps to establishing measurement and actionable insights. And for each step you use in your social media measurement planning, you’ll have the opportunity to prove the ROI of your efforts. For this you will need to become a Data Junkie Superhero.
To get successful at mining big data, you need to develop a framework that connects the metrics to business goals. The number one challenge is turning the information gathered through social media tools into actionable market insights.
It all starts with the measurement of the social conversations evolution and demographic analytics (like geolocation, sentiment, or platform distribution). But how do you transform all this data into a sustainable strategy?
Superpowers of the Data Junkie
As a Data Junkie superhero, you need to master the science of quantitative analysis. They know that using science to understand massive unstructured social data sets will lead them to the most important questions to ask. A well-prepared Data Scientist finds the key signs in the data to get from point A (social media activities) to point B (business performance).
5 key steps for an effective data measurement program
1. Gather real-time insights and act upon the findings. Collecting the massive data that’s flowing in from social networks and being in the middle of the storm as it’s happening is really hard work. Knowing how to handle buzz spikes and PR crisis situations is critical to your success. A competitive intelligence product like uberVU Signals can help you separate important data from noise.
2. Recognize the viral hot spots and behavioural patterns. With the help of analytics, you can understand how a new service, product or piece of content is spreading online. With this knowledge you can leverage your content to gain awareness.
3. Slice and dice the data you obtained. After understanding how people behave, you need to remove the noise further. With uberVU, you can cross-filter the mentions to discard the clutter and focus on taking action. Do you need data on how many American males tweeted about your product in a negative tone over the last 2 weeks? Search no further.
4. Build data-backed automatic reports. Enable team members the ability to make the best decisions, respond faster, and improve ROI by giving them actionable information right now. In the past, by the time you got to create a comprehensive report, the stories were already yesterday’s news. That won’t ever happen again with our smart reports.
5. Integrate social media reports into the daily social media workflow. You’re now the the gate keeper of your customers’ insights. Being closest to the customer is helpful when it comes to building your social media strategy. This is core to the Digital Strategist role in our Superheroes assembly.
In a nutshell, Data Scientists use social intelligence dashboards to gather very specialized metrics and turn them into actionable insights. Amplifying all the available listening tools with intelligence software can drive strategic marketing improvements and can help businesses climb up a ladder in the social media lifecycle of a brand.