Social Media Analytics Drivers
By Aydin Farrokhi and Dr. Wael Hassan
Today, the public has remarkable power and reach by which they can share their news, and express their opinion, about any product or services or even react to an existing state of affairs, especially regarding social or political issues. For example, in marketing, consumer voices can have an enormous influence in shaping the opinions of other consumers. Similarly, in politics, public opinion can influence loyalties, decisions, and advocacy.
While increasingly organizations are adopting and embracing social media, the motive for each establishment to use social media varies. Some of the key drivers for adopting social media include:
Economic drivers:
- Market research and new product
- Need for better consumer
- Need to gain competitive
- Need to improve customer
- Need to develop new products and
- Need to increase Return on Marketing Investment (ROMI)
- Top strategic actions to maximize social media spend
- Improve ability to respond to customer’s wants and needs
- Build social media measurement into marketing campaigns and brand promotions
- Maximize marketing campaign and effectiveness
- Align social media monitoring capabilities to overall business objectives
Political drivers:
- Public opinion research and new motto
- Need for better public
- Need to gain competitive
- Need to improve public
- Need to develop new
- Need to increase Return on Campaigning Investment (ROCI)
- Top strategic actions to maximize social media spend
- Improve ability to respond to the public’s wants and needs
- Build social media measurement into political campaign and publicity promotions
- Maximize political campaign and effectiveness
- Align social media monitoring capabilities to overall political agenda
In general, there are three major categories of methods for analyzing social media data. These analytical tools can be grouped as either Content Analysis tools, Group and Network Analysis tools or Prediction tools.