There is no doubt that society is becoming more reliant on technology than it used to be. From the digital immigrants to the digital natives, most everyone uses the Web. So, what does this mean for advertisers?
Social media usage has been rapidly growing – an eMarketer report, “Worldwide Social Network Users: 2012 Forecast and Comparative Estimates,” details just how much. According to this article, the number of social network users around the world will increase by 18 percent from 2012 to 2013, from 1.47 billion to 1.73. Furthermore, by 2017, the global social network audience is predicted to be 2.55 billion.
With so many people using the Web and social media, it is essential for a company to know how this affects their brand. You can no just longer run an advertising campaign and see if your sales increased to know if there was some concrete ROI or if you just wasted your money. Did you increase sales? Did you gain Facebook Fans or Twitter followers? Are you trending on Twitter? There is a lot more to take into account with social media added to the picture.
“Today’s marketers are under-utilizing the large amounts of personal data their customers are sharing publicly every day.”
– Chad Warren, Adobe’s senior manager of social media products
But with social media in the picture, it is much easier to find out more about your consumer – although, not all companies take advantage of this. A good chunk of people fail to turn their marketing tactics into money. Marketers need to get to know their customers to ensure success. They are sending out signals in many different ways and it’s a marketers job to investigate. Customers are posting personal information on their Facebook profiles, tweeting information that allows people to access real-time, creating online pinboards with Pinterest, and more. These are all insights to your customer.
But, digging deeper – analyzing people and companies on social media is now necessary. HootSuite Social Analytics allows people to select from over 40 plus analytic modules, and is also easy to organize and share. Also, both Google and Adobe released tools that assist markers in tracking ROI through social media. Adobe Social is a bit pricey, but collects data from key social media sites like Facebook, Twitter, and Google+, allowing you who has activity on any of those social media platforms and visits your website. Social reports, through Google Analytics, show a causal relationship between social media activity and sales. Did I mention this is free to use, but it does not provide date from Facebook and Twitter? There are some key differences in these tools, but they all have the ultimate goal of providing social analytics.
- Do you think it is necessary for a marketer to use any of these Social Analytics tools?
- How do you think Social Media has affected the advertising world? Do you think social media is beneficial for advertisers or complicates things too much?
- Have you ever used any of these Social Analytics tools and what were your thoughts based on your interaction?