Social Media Analytics Roby Boade, Ngoc Tu, Isabela Salomon,  Zach Singer, Jamie Wilson

Background What is customer sentiment? How did companies historically gather customer sentiment? Why is customer sentiment important? Picture this scenario: Your company just introduced a new product into the market. How do you know how well it is doing? Anyone can look at revenue figures and see that something is selling or not selling. How do you know how people feel about your product beyond these simple revenue figures? In the past companies would hire marketing firms to do surveys or put focus groups together. Why spend all of this money trying to get customers to tell you how they feel about your product, when it is 2017 and people are all too happy to offer their thoughts online through twitter, facebook, instagram, or a host of other social media options. This isn't 2003 anymore with MySpace being the only option for social media. Now users on average have 7 social media accounts to post how they feel about the things they buy. In the relationship era of marketing that we are in, understanding and managing how customers feel about your product is paramount to keeping their loyalty and keeping your business afloat. Consumers are only becoming more and more active on social media. It is impossible to keep up with the flood of information on social media without an analytics platform such as Hootsuite. No matter where you work in the future, your company’s marketing or customer relations teams will more than likely be using a social media analytics platform. After all, data is the most valuable resource on Earth, but is useless without analytics. As to the history of social media and analytics, the first social media website is probably not one you have heard of, I certainly hadn’t. It was called Six Degrees and it was created way back in 1997. The first widely recognizable site however was Myspace, and if you somehow aren’t familiar with Myspace, Facebook was created just a year later in 2004. So while social media has technically been around for 20 years it has only been widely prevalent for about 15. One of the first analytics tools that was released regarding social media was google analytics. We decided to do our vendor analysis on Hootsuite, created in 2008, Hootsuite is designed specifically for social media analytics unlike google analytics which is much more of a general analysis tool. 

History of Social Media and Analytics

Value: Social ROI Core sources of value in social media analytics is making social ROI tangible. Successful marketing strategies must use key metrics as a basis for their decision-making process. Are my investments paying off? Which areas need more attention? Conversions Awareness Team Performance Experience- review analytics Engagement Metrics Customizable Dashboards – what's of most value to that firm. Age segments? Countries of use?  Business conversions- by social channel and between owned / paid media. Analyze content, spend, and conversions Brand awareness or perception- competitor benchmarking Customer experience- how your followers interact with your content to increase reach and revenue. Review analytics

Case Study- University of Cambridge What they did Gathered overview of social media landscape and created strategy accordingly Optimized external communication with knowledge from analytics Challenge 260 different social media accounts Small-sized communication team Results 400% increase in Facebook followers Extreme insights

Limitations

Benefits Understand Usage Drive Growth Track Initiatives

Future Hootsuite Business Improved Mobile Platform Improved Sentiment & ROI Analytics Business Essential to Understand Customer

Social Media Analytics Roby Boade, Ngoc Tu, Isabela Salomon, Zach Singer, Jamie Wilson

Bibliography Hootsuite Media Inc. “Analytics - Social Media Marketing & Management Dashboard.”Hootsuite, hootsuite.com/platform/analytics. Hootsuite Media Inc. “Impact - Social Media Marketing & Management Dashboard.”Hootsuite, hootsuite.com/products/impact Shostal Associates. "Corpus Christi College, University of Cambridge, England." Britannica, 8 Aug. 2008, https://media1.britannica.com/eb- media/85/13085-004-4664A6B5.jpg.