There's no question that today's successful marketers need to harness the massive amounts of machine-generated data from social media networks: from Facebook "Likes" and tweets, to blog posts, YouTube videos and Pinterest pins. The challenging part is: How?
Statistics like 200 million Twitter users sending 400 million tweets per day and 600,000 pieces of content shared on Facebook each minute contribute to the 500 billion impressions by consumers that are shared online annually. Mined intelligently, this data offers a treasure trove of actionable insight about consumer preferences and habits, enabling marketers to more effectively target promotions and develop increasingly personalized and compelling offers.
Traditional analytic tools are often not up to the job of investigating the fast moving, highly diverse types of high-volume social data. As a result, analysis has become an expensive, resource-draining burden. But it doesn't have to be. With analytic flexibility and scalability, marketers can perform rich data analysis with far fewer resources.
In this increasingly social world, marketers (and their IT counterparts) should consider the following tips to effectively apply analytics to gain new insight and boost ROI on multi-channel campaigns.
1. Ask the right questions. When it comes to analyzing social data, one of the most effective approaches is "investigative analytics"-the ability to ask a series of quickly changing, iterative questions to figure out why something did or did not happen, or how to optimize a particular outcome. Instead of asking questions like "How do people feel about my brand?" investigative analytics ups the ante, to: "How do I increase sales among my highest profit customers?"
For example, by using investigative analytics, an online publishing company can drill into its data to determine what articles about what topics on which particular social media outlets are performing the best. The publisher could also discover what is the best day and time to publish an article and where it should be promoted in order to generate the most revenue.