What questions are important to you about Social Media?
John Lovett from Web Analytics Demystified just published a new white paper on Social Analytics. Lovett, who has written the book on Social Analytics (literally), lays out a compelling vision for Deeper Social Analytics for companies. He clearly presents the value of companies to go beyond surface level analytics of likes, followers and friends and challenges the CMO to ask deeper and more important questions.
I love the three key questions presented in the paper that really hit the c-suite. These are
- What is the Audience?
- What is the Activity?
- What is the Action?
These 3 questions provide a framework to share social media initiatives with business leaders and strip away all the non-business related questions that become so distracting in understanding the impact of social media on the enterprise.
Although we are still in the early, Black and White TV stage of social analytics, Teradata Aster has been heavily influenced by our customers’ needs in the social space. Customers like LinkedIn, Gilt Groupe, MySpace, and Myzinga have redefined how consumers interact with each other through music, shopping, and content. Attensity running on Aster promises to bring together big data and social analytics that starts to deliver on Mr. Lovett’s proposition of deeper social analytics.
Teradata’s strategy to marry big data analytics and marketing applications with its industry-leading database solutions is steeped with the concept of deeper analytics. In social analytics, we have identified 10 key business questions that should be asked about every social post. In a market where posts can go viral, impact brand, customer perception, and revenue, being able to quickly and effectively navigate deeper social analytics becomes a mission critical capability.
Beyond John’s questions, the 10 key questions are:
- What was said?
- What is it about? (ie, product, service, brand, experience)
- Is it a common sentiment?
- What are the trends on this topic?
- Who said it?
- What is their value?
- How engaged are they?
- What is their influence?
- How do I respond?
- Was my response effective?
To effectively answer these questions CMO’s need a set of marketing technologies. These include:
- A social listening platform that analyzes social timelines for owned, embassy and public feeds. These tools identify what was said, what it is about and if it is a common sentiment.
- The second level demands a customer hub to understand who posting and what the customer relationship is with them and to measure the customer value of that relationship.
- The third level requires social network analytics and the ability to find implicit and explicit social connections. This helps illuminate how engaged customers are and their level of influence – or who influences them
- The fourth level is where integrated marketing management and customer facing marketing applications come it. Once you understand what was said, who said it and the potential impact – how do you respond? Is it a one-on-one conversation, a social discussion or was a bigger issue identified that may result in marketing campaigns?
Are these the right business questions to ask? What else do you want to know about social media posts in your business?