In reading our articles for this week's blog post, I found it hard to understand the debate on social media ROI. There is nothing about it that went over my head and the analysis of social media data seems to be an integral part of measuring Internet success. But that's just it: where does the debate lie?
The use of analytics tools in today's virtual world is indispensable. In order to successfully measure one's success on the Internet, it is important to see who is going to your site, what types of conversations are circulating about your site and how many of those conversations actually exist. A large part of the Internet is simply the fact that it functions as a bunch of interconnected cloud conversations. There is a discussion for any topic you can think of and those discussions are generated by consumers.
If a company wants to study the success of their specific brand or product, one of the best ways to measure that success is through the subject's digital footprints. Collecting data on these conversations, whether through clicks, pageviews or other social media metrics, gives the added bonus of dynamic, double-pronged information. Internet discussion is, timewise, close to immediate. You can quickly receive the information and measure its success as the discussions progress or regress. In the end, there really is no debate: social media data is essential to understanding the way modern consumers evaluate a product.
Articles for this week's post:
http://mashable.com/2008/07/31/measuring-social-media-roi-for-business/
http://www.visinsights.com/gauging-the-value-of-social-media-data/294/
What Harry Means to Me
12 years ago
I agree with you that social media data is going to be the very important benchmark on how well the brand/products are doing. I think it's the strongest point about social media data that its response is so quick so it can provide more accurate data in timely manner.
ReplyDeleteIt is very good post explaining ROI easily. The advance in techonology have made business be connected to the Internet software and web sites more and more. It shows the importance of ROI in business field.
ReplyDeleteI agree that social media data is vital and you provide some good ways to measure it. However, the question is whether buzz on social media actually translates into purchase of a product or service. I still think there needs to be a way to measure this.
ReplyDeleteFor me personally, the social media marketing I encounter for a product I want is what I remember most when it comes time to buy.
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