The Global Source for Social Media Researchers

SMRA Blog 

  • 1 Jul 2017 4:34 PM | Kathy Doering (Administrator)

    Posted on September 21, 2016 by eChatter

     

     

    social-hiring-tips

     

    There’s been so much focus on individual social media profiles and the importance of making sure your social identity presents your “best self” when searching for a new job, yet there’s been very little talk of a company making sure their social identity is secure before advertising that they’re hiring.

    Social hiring is taking off, and it’s important for companies to be just as aware as job seekers when it comes to social media reputation.

    What is social hiring?

    Essentially, this is recruiting and identifying potential job candidates through social media sites, namely LinkedIn and the like. It now extends beyond LinkedIn to Facebook and even Twitter. At first glance, you would think this is pretty simplistic – companies posting job openings on these sites, or reaching out to those on LinkedIn, for example, who indicate they are seeking new employment and might be a good fit for your company.

    But it’s much more than that.

    Just like a job candidate, it’s important for companies to have a positive social media reputation in order to attract new hires. One aspect that is overlooked is creating a sense that the company is a great place to work. While overlooked, it is becoming increasingly important.
    Research shows that 65% of survey respondents would consider a job opportunity if it came from a personal connection, and more and more people expect to better understand a company’s culture before applying for a job. If done correctly, companies can easily recruit new hires that will be a good fit.

    So, what does a company need to keep in mind when creating its social media presence, especially with regard to hiring?

    Keep tabs on social media reputation. This is just as important for recruiting new hires as it is for monitoring customer satisfaction. A continued social media monitoring program will give your company insight into what prospective employees may see if they are doing research – a quick Google search may show positive (or negative) customers reviews, or they may be directed to an employee driven review site such as Glassdoor.

    Take a close look at your social media sites. If you were a stranger reading through Tweets or the company’s Facebook timeline, does it seem like a company you would want to work for? How is the consumer engagement – vibrant and active, or sparse (or worse, nonexistent)?

    Let others see what happens behind the scenes. Creating a “talent brand” for your company will give potential employees a chance to get a sneak peek into what it’s like to be an employee. It will have the added benefit of letting your customers see “behind the curtain” as well. What does this mean? Simply put, allow your employees to create content to post to their social sites that highlights their employment – let them show off what they do best, what they like about their work, and what they like about the company in general. Professionally, encourage them to join LinkedIn groups and showcase their talent through participation. Encourage them to engage with the company’s social sites to create a sense of cohesion and enjoyment in the workplace. Any content deigned to showcase the company culture will help boost customer satisfaction and allow potential employees to want to work there.

    Just like companies engaging in social media monitoring to find out more about potential job candidates, individuals are doing the same research on companies. Make it easier for people to decide they are a good fit for your company by providing a strong social media presence that is culture focused – it can make the job search easier when it’s time to recruit. The right social media presence can make it easier on both ends, thus potentially making the hiring process more efficient on both ends of the search.


  • 26 Jun 2017 12:49 PM | Kathy Doering (Administrator)

    SmartBrief posted an excellent article from Chris Tesco that we wanted to share. The link between social media and loyalty is genius! 

    Chris Teso is founder and CEO of engagement and loyalty solutions provider Chirpify, where he invented "in-stream transactions," enabling brands to create a currency exchange between social media and loyalty programs to drive member acquisition, engagement, and spend.    

    June 22, 2017

         


    There’s an old saying that a chain is only as strong as its weakest link. Yet, many organizations are working with customer views that have entire data links missing. If you are building your marketing efforts on weak -- or missing -- data, odds are your efforts won’t deliver the results you want.

    This missing link for many companies is a view into their customers within social media. While many companies have tools for listening and understanding their social media audiences at a macro level, there is a clear opportunity to link the social ID to the CRM and make social media the hub for your 360-degree customer view.

    Why social media should lead

    Social media is increasingly at the center of our daily lives; according to research by Mediakix, the average person spends nearly two hours every day on social media. In fact, time spent on social media trumps eating, socializing and other common daily activities. If social media customer activity is the missing link in your customer view, then it is a large blind spot.

    However, when social IDs are linked to customer records, once anonymous people can be linked to their offline profile housed in the CRM, making them identifiable across marketing channels. Moreover, with automation, you can acquire consumer data at scale, which allows you to connect on- and off-line profiles for many customers at once. With this data in hand, social media marketers are able to create campaigns and programs built on deeper knowledge -- such as spending behavior -- and effectively link business outcomes to marketing efforts.

    Social media allows personalization

    The promise of 1:1 marketing is the ability to identify (not just recognize) customers across channels and personalize content, offers, rewards and more based on their history and experience with the brand. Linking social IDs to the CRM allows us as marketers to immediately identify our customers in social. When coupled with automation, we can write rules to interact with these customers at scale, responding automatically with tailored responses that create a value exchange. In this way, we enable customers to engage more deeply, participate more often and convert seamlessly within the social media context. This virtual snowball effect creates positive earned media for the brand and implied social proof that serves to encourage new customer acquisition and deeper loyalty among existing customers.

    In addition, social media automation has matured to the point where we marketers can respond at scale to customers, allowing us to drive more engagement. Social media marketers can now automatically send content back to people who set off certain social media actions such as posting about a certain person, hashtag, photo or topic. While the content can be anything -- behind-the-scenes video, points, promo codes, contest entries, concert tickets, and more -- the link to the CRM allows us to track when they interact, download or otherwise turn that event into a conversion activity. We can also aggregate this data for further analysis and fine-tuning of marketing efforts.

    Proving social media ROI

    With this critical linkage in place, your social media program should be able to identify any campaign conversion data by social ID and tie it to an existing customer record in your CRM. Once this data is linked, you can slice and dice it in a myriad of ways to measure campaign success and create measurable improvement. For example, a leading retailer linked its customers’ social IDs to its CRM records which it in turn tied to its eCommerce system to determine that social media customers who were also members of its loyalty program spent 25% more.

    In addition, as the customer journey usually begins online, a measurable way marketers can impact in-store visits is by rewarding customers active in social media with incentives redeemable in the store. Social media tools can also encourage in-store spending by listening for social check-ins and automatically replying to them with an in-store offer. Track which of your offers drive the greatest number of responses and redemptions and how these efforts directly impact the topline for meaningful ROI.

    As the C-suite tasks social media marketers with articulating business-impacting ROI, it’s clear that connecting the dots between customer social IDs and the CRM is a critical step in growing what we can measure -- not to mention the power all that extra data gives us to improve our marketing efforts. As more and more consumer activity moves to the social media context, it’s clear that social media IDs should be linked to the CRM for a truly complete customer view. Couple this added customer insight with automation and suddenly marketers have the power to deliver on recognition, personalization and a true value exchange that drives meaningful business impact.

    Chris Teso is founder and CEO of engagement and loyalty solutions provider Chirpify, where he invented "in-stream transactions," enabling brands to create a currency exchange between social media and loyalty programs to drive member acquisition, engagement, and spend. Twitter:@christeso; LinkedIn: Chris Teso


  • 25 Jun 2017 6:44 PM | Kathy Doering (Administrator)

    Kathy Doering

    Social Media Research has many moving parts and can help you in ways you may not have considered. Take a look at our top 10:

    1. Brand Reputation: Monitoring your brand will answer your most important social media marketing questions. In fact, many times it should be the starting place. Are you being represented properly online? Which platform is giving you the best results regarding engagement? What are the statistics telling you? Which demographic is more engaged with your product or service?

    2. Competitive Intelligence: It is difficult to stay on top of everything that is being said, published and written online about your competitors. Monitoring your competitors will give you insights to stay one step ahead. Valuable insights, such as learning the pain points of your competitor’s customers and information about product and service launches, are easily obtained. Use the intelligence to get in front of your competitor’s customers, especially those that are unhappy and looking for a new company to do business with.

    3. Attracting New Customers: Use social media research to learn about your customers on a deeper level. Go beyond demographics specific to your business; information about their lifestyle, interests, and even family status gives you the opportunity to dig deep into “who” your customers are. Gain new customers who never heard of your brand in creative and engaging ways.

    4. Improve Customer Service: Social media has become a go to for many consumers who have a question, suggestion or complaint. Monitoring this allows for a quick response and the opportunity to reach customers online who are talking about you, but not talking to you. This added touchpoint can go a long way in enhancing the customer experience.

    5. Influencers: You may have fans out there you never knew you had! They are influencing your brand by using your product or service and discussing it with their fans and followers. Consumers listen to influencers. Social media research helps you identify your influencers, reach out to them, and build a relationship that will benefit your marketing efforts.

    6. Crisis Management: One bad post can easily become viral and harm your brand instantly. Social media research and listening will help you identify a brewing crisis before it goes viral.

    7. Sales and Lead Generation: Keyword monitoring allows you the opportunity to get noticed online in a variety of ways. Establish yourself as a thought leader within your industry.

    8. Hiring and Recruiting: Over 60% of today’s HR executives look at a candidate’s social media and online profile before making a hiring decision. What is within your legal rights to conduct this research? Are you being FCRA compliant? Reaching a candidate, the legal way, will protect your company and ensure you make the best hiring decisions possible.

    9. Legal and Law Enforcement: Most corporate attorneys are now advising their business clients to not only monitor their brand and/or employees online but also suggest they archive the data in case of future law suits.

    10. Better Understand Your Audience: By using social media listening strategies you can learn a lot about your audience, some of which may surprise you. This allows for better segmented target marketing which leads to stronger social media marketing ROI.



  • 24 Jun 2017 9:20 AM | Kathy Doering (Administrator)

    What can social media data tell me? 

    People love to talk about their favorite televisions shows in social media~ sometimes even when the show is airing. Nielsen took a look at this research in a very insightful way.

    About the researchThe report was based on Facebook and Twitter data collected by Nielsen between September 18, 2016 and May 24, 2017.

    by Ayaz Nanji  |  June 23, 2017

    The Walking Dead was the most talked about television show on social media during the 2016-2017 season, according to recent research from Nielsen.

    The report was based on Facebook and Twitter data collected by Nielsen between September 18, 2016 and May 24, 2017 (the traditional television season).

    The episodes of The Walking Dead generated 2 million social interactions, on average, on Facebook and Twitter.

    Empire ranked second, with 860,000 interactions generated per episode, on average.

    The Bachelor ranked third, followed by This Is Us and Love & Hip Hop: Atlanta.

    The Grammys had the most interactions (27.6 million) on Facebook and Twitter of any television special last season.

    Although the Oscars ranked second, the special generated 836,000 interactions within five minutes after the wrong film was announced as Best Picture.

    Super Bowl LI had the most interactions (190.7 million) on Facebook and Twitter of any sports event last season. Some 7.5 million interactions occurred as the game went into overtime.

  • 21 Jun 2017 7:48 PM | Kathy Doering (Administrator)

    This researcher used social media to help those in need!

    June 20, 2017 by Michael Platt

    Research uses social media to learn what people really need in time of crisis

    Painstaking analysis of nearly 70,000 tweets sent out by evacuees escaping the Fort McMurray wildfire shows key concerns in a crisis aren't being answered by current smartphone emergency apps, leaving citizens in the dark at a time of mass panic.

    After studying queries and concerns repeatedly expressed over Twitter during last May's evacuation of 88,000 people from the fire-threatened city, software engineers at the University of Calgary determined the most pressing needs and questions failed to match up with features being provided via smartphone software, a serious concern when the Internet is a primary source of information.

    "Our results show that the apps presently available to people in need are lacking relevant and useful features," explains Maleknaz Nayebi, lead researcher and PhD candidate at Schulich School of Engineering.

    "We found that up to 80 per cent of the features people are looking for aren't accommodated right now. There are 26 apps for wildfires in North America and Australia, for example, but they don't have the features people really want."

    Learning what people really need in a crisis

    The study, published online through the 2017 IEEE/ACM 39th International Conference on Software Engineering, aims to arm future software developers with a better sense of what people really need in a crisis, whether natural disaster like a fire or flood, or man-made, like an act of terror.

    Ensuring victims can get the right information via their smartphones, at times when first responders are overwhelmed and people are panicked and desperate is increasingly vital—and as this research noted, "Social media became the crisis' unofficial emergency broadcast system."

    To determine what people really wanted during the Fort McMurray wildfire, the team designed a program called MAPFEAT to comb through 69,680 unique tweets from May 2 to May 7, 2016, and then match the most commonly repeated queries with existing mobile application software.

    MAPFEAT—the acronym stands for Mining APp FEAtures from Tweets—told researchers that information and service most in demand at the height of the Fort McMurray fire wasn't available, even via apps specifically designed to provide information during wildfires and other disasters.

    Top 10 most helpful features

    The top 10 features that would have helped evacuees the most, based on MAPFEAT's crowdsource analysis and followup studies with the general public, included:

    Fire alarm notification

    Food and water requests and resource

    Emergency maintenance service

    Send emergency text messages

    Safety guidelines

    Fire and safeness warning

    Request ambulance at a tap

    Find nearest gas station

    Emergency zones maps

    Find a medical centre

    Whether it was questions about the availability of petrol, proximity of danger or inquiries about potential food and shelter, Nayebi and her team found only six of the top 40 concerns were addressed by existing apps, and not a single item in the top 10 was covered.

    "By using MAPFEAT, we proactively understand victims' needs and suggest mobile software support to the people impacted," says Nayebi.

    Looking for applications beyond emergencies

    Rather than just a critique of software shortcomings, the researchers hope their analysis will be a silver lining to the gargantuan cloud of fire and smoke that sent thousands of residents fleeing for their lives, and the same crowdsource technique may be applicable for software design beyond emergencies.

    "We are at the first stage of extracting those needs, and the next step is for organizations to adopt this information," explains Nayebi.

    Given a chance to employ MAPFEAT and understand what people really want to know in a mass emergency, it's hoped public information apps can be updated to reflect the reality of a panicked population, and provide useful information in a crisis or disaster.

    "That is a fundamental problem in all software development, to try and understand the user needs is always difficult," says Guenther Ruhe, Nayebyi's supervisor and a member of the research team, along with Mahshid Marbouti, Rachel Quapp and Frank Maurer from UCalgary's Faculty of Science.

    "That's why this is such a smart idea, because from social media you get basically all the information you need to solve this problem."




  • 20 Jun 2017 3:14 PM | Kathy Doering (Administrator)

    Great follow up on Social Media Research for employment screening.


    HR & Social Media: Protected Class Guide

    Posted on June 15, 2017 by eChatter

    You can’t unring the bell … why put yourself (or your company) in a potentially sticky situation when it comes to hiring and the use of social media as part of the hiring process?

    HR departments are using social media as a tool for potential employee research, though this has been one industry that is slow to warm up to the idea. In some cases, it may simply be that the company doesn’t have enough manpower or time to devote to another task; for others, they may see it as a still very grey, muddy area they don’t want to get involved in.

    Part of the fear is knowing what’s okay and not okay to see, and how to make sure your hiring managers are only seeing the “right” content. There are many ways to work around this, including using a third party vendor or making sure that the person doing the social media research is not the hiring manager; by doing this, you can make sure that your company is in compliance with the FCRA.

    Did you know there are federal and state specific protected classes? If your company spans the country, are you aware of the different classes?

    Here are some interesting examples:

    • Whether a candidate obtained a GED vs graduating from high school is a protected class in PA
    • Place of birth is a protected class specific to VT
    • Height & weight is protected in MI
    • The following states only follow federal statutes and do not have any state specific protected classes: AL, ID, MS, SC

    These are just some of the protected classes; while these may seem like areas that would not come to light when viewing a person’s social media sites, it’s possible. And what about the more commonly shared pieces of information, such as marital status, whether or not someone is a parent, or mental illness history? You never know to what extent people share their lives online anymore; it’s best to err on the side of caution.

    If you are handling social media background checks internally, we’d like to share a list of protected classes at the federal and state levels.

    Federal

    • Age (over 40)
    • Color
    • Disability
    • Genetic Information
    • Military Status
    • National Origin
    • Race
    • Religion
    • Sex (includes pregnancy)
    • Veteran Status

    State

    Protected classes vary by state. Click here to see the state by state list of protected classes

     



  • 19 Jun 2017 9:21 AM | Kathy Doering (Administrator)

    By: Kathy Doering

    The survey results of Career Builder's Social Media Study show a significant increase in the amount of employers who use social media to screen applicants. The Study indicates that over half of employers who use social media screening did not hire the candidate based on their social media content findings on the applicant.

    Highlights of the study include:

    - 57 percent are less likely to interview a candidate they can't find online

    - 54 percent have decided not to hire a candidate based on their social media profiles

    - Half of employers check current employees' social media profiles, over a third have reprimanded or fired an employee for inappropriate content

    - 70 percent of employers use social media to screen candidates, up from 11 percent in 2006

      What does the FCRA say about the candidate's rights? 

      The Fair Credit Reporting Act & social media: What businesses should know

      By: Lesley Fair | Jun 23, 2011 10:23AM

      You have some job openings at your company or maybe you’re thinking of promoting people to new positions. You’ve winnowed that stack of resumes down to some promising candidates. Now it’s nitty gritty time: background checks.

      Employment background checks can include information from a variety of sources: credit reports, employment and salary history, criminal records — and these days, even social media. But regardless of the type of information in a report you use when making hiring decisions, the rules are the same. Companies providing reports to employers and employers using reports must comply with the Fair Credit Reporting Act.

      The FTC staff recently looked at a company selling background reports that include information from social media to see if they were complying with FCRA. Staff’s letter to the company emphasized that when reports include information derived from social media, the same rules apply. For example, companies selling background reports must take reasonable steps to ensure the maximum possible accuracy of what’s reported from social networks and that it relates to the correct person. They have to comply with other FCRA sections, too — like providing copies of reports to people and having a process in place if people dispute what’s said about them in a report. In addition, companies must give employers who use their reports information about employers’ responsibilities under FCRA — like their obligation to provide employees or applicants with advance notice of any adverse action taken on the basis of the reports.

      Another key requirement: Companies selling background reports for employment must require that employers certify the report won’t be used in a way that would violate federal or state equal employment opportunity laws or regulations.

      Of course, given the sensitive nature of the information in reports, everyone — companies selling the reports and employers using them — has a legal obligation to keep them secure and dispose of them properly.

      Read Employment Background Checks and Credit Reports to find out more about what the law says about using credit reports in the workplace.


    • 10 Jun 2017 10:20 AM | Kathy Doering (Administrator)


      Social Media Analytics Market: Global Size, Share, Trends & Forecast, 2016–2024

      Social Media Analytics Market: Global Size, Share, Trends & Forecast, 2016–2024

      NEWS  June 8, 2017, by shawn  52

      Global Social Media Analytics Market: Overview

      The process of collecting, analyzing, and reporting on the data that are available on various social media is known as social media analytics. It can be used as an efficient market research tool for business purposes in order to enhance the effectiveness of a website. Social media monitoring helps to view brands on various platforms of the social media. It will analyze the impact of campaigns, assess competitor activity and emerging trends, and identifies opportunities for the engagement. It enables systematic identification, data analysis, and extracts social media data by using sophisticated tools and techniques. Social media analytics have become one of the important tools in the enterprises as it helps in implementing short-term plans and strategies. The social media analytics are used in various applications such as marketing management, customer segmentation & targeting, multichannel campaign management, customer behavioral analysis, and competitor benchmarking.

      Request for Free Sample Report @ https://www.zionmarketresearch.com/sample/social-media-analytics-market

      Global Social Media Analytics Market: Growth Factors

      The emergence of the advanced analytics techniques and business intelligence coupled with an immense upsurge in the number of social media users is expected to drive the global social media analytics market growth. Massive investments made in the social media analytics and increasing focus on the competitive intelligence contributes to the overall market growth. Increasing adoption of the social media analytics and cloud computing positively enhances the global market. Increasing need for targeting and customer segmentation among SMEs and large enterprises in order to build brand planning and marketing strategies anticipates fueling the market growth. The major factor responsible for the market growth includes growth in the number of social media users and improving business strategies & competitive intelligence. Conversely, increasing complexities associated with the analytical workflow and lack of skilled expertise hinders the social media analytics market to some extent.

      Global Social Media Analytics Market: Segmentation

      The global social media analytics market is segregated based on the end user, application, and geography. The application segment is segmented into multichannel campaign management, marketing management, customer segmentation & targeting, customer behavioral analysis, and competitor benchmarking. On the basis of end-user, the global market is bifurcated into travel & hospitality, media & entertainment, retail, BFSI, IT & telecom, healthcare, and others. Geographically, the global social media analytics market is diversified into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

      Request to view Report TOC (Table of Contents) @ https://www.zionmarketresearch.com/toc/social-media-analytics-market

      Global Social Media Analytics Market: Regional Analysis

      North America contributed to the major market share in the global social media analytics market due to rising demand for social media analytics. Europe is significantly adopting social media analytics owing to the presence of advanced telecommunication network. Asia-Pacific region is expected to grow at fastest rate in the global social media analytics market. The Middle East and Africa region shows a massive surge in social media and has increasing need to examine data and generate valuable insights which anticipate propelling the market growth.

      Global Social Media Analytics Market: Competitive Players

      Major leading players in the global social media analytics market include Tableau Software, SAP SE, Netbase Solutions, Inc., Salesforce.com Inc., Adobe Systems, Inc., SAS Institute, Hootsuite Media, Inc., Crimson Hexagon, and IBM Corporation.

      Browse detail report @ https://www.zionmarketresearch.com/report/social-media-analytics-market

      About Us:
      Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.



    • 9 Jun 2017 8:51 AM | Deleted user

      Sweta Patel  | June 7, 2017 | As published on MarketingLand

      Have you been looking for the best way to measure the effectiveness of each of your social media channels? Do you want to learn how you can pick an effective social media attribution model for your business?

      In this article, I’ll describe the three different social media attribution models and how each one uniquely measures the success of your social channels. You can decide which approach will work best for your particular situation.

      The single-touch model

      The days of referring to social media efforts as strict awareness marketing are long gone. Between promotional posts, blatant CTAs and paid advertising, businesses use their social channels to drive leads and purchases every day. So how do we measure the effectiveness of each channel and effort?

      The single-touch social model is based on two types of touches. The first-touch model focuses on the first channel, also known as the discovery channel. No matter where your prospect converts, this model gives all of the credit to the very first instance/place where your prospect found you.

      For example, as I was browsing my Instagram, I came across an ad that pertained to comfortable shoes. At the time, I was working the booth at an event and my heels were killing my feet! In that moment, I was convinced to consider these shoes. I then researched them on the web and scrolled through their Twitter feed, but I didn’t buy them just yet.

      Later, I saw the same shoes on a Facebook ad, and I purchased them. According to the single-touch model, the initial interaction on Instagram would receive all the credit for the shoe purchase or conversion. This is the most common model, but it is also the least accurate.

      First, I went to Instagram and saw the ad:

      Then, I went to Twitter to research their newsfeed:

      Afterward, I went to their website to see what they were about:

      Last, I viewed my Facebook feed, where I came across their Facebook ad:

      If I were focusing on a last-touch social model, then all my credit would be given to the Facebook ad that I clicked on to make my purchase. Essentially, this is the last-touch social model. All the credit is given to the last touch point before the conversion happens.

      There are tools like Google 360 and Bizible that enable you to measure attribution at any instance, and Google plans to release a free version called Google Attribution. These tools gather data from across multiple touch points in today’s complicated string of customer journeys so that you can view metrics in a simplified way. It’s this information that allows marketers to make smarter decisions about where to focus time, effort and budget across social media.

      Optimize your channel marketing with multi-touch model

      Unfortunately, single-touch models can be misleading, as we are not sure which touch points were the most effective or convincing. Today, vanity metrics like those provided from single-touch models don’t make the cut. We must dig deeper to understand our metrics and where we need to focus both attention and budget when it comes to social media.

      This is where the multi-touch social model comes in handy. It allows you to measure the effectiveness of each and every touch point that leads to the ultimate conversion.

      Every touch point is equally weighted in this model. This means each point of contact received the same amount of credit as any other. If I refer to the previous example with the shoes, then all four touch points, from the Instagram news feed to the Facebook ad, would receive the same credit for the closed purchase.

      Marketers primarily use the social multi-touch model to understand prospect behavior around the conversion. Which social media channels should they increase their focus on? Which channels should they completely eliminate because they are not influencing conversions?

      The multi-touch social model is more precise than the other models because it allows you to measure the entire customer path to purchase. Some marketers may feel that not all touch points are equal, so they look for more of a position-based social model.

      Generate more revenue with a position-based model

      The position-based social model focuses on giving two touch points on the path to purchase more weight than the other two touch points. You can choose which points have more weight. I’ve seen that most marketers choose to give a higher percentage of weight to the outer points of the model rather than the two inner points of the model.

      For example, you can attribute 40 percent of the weight to the first and the last touches of the model. In the Time Slippers shoe example above, we would give 40 percent of the weight to the Instagram news feed and another 40 percent to the Facebook ad.

      Then we would attribute 10 percent to the website and 10 percent to the Twitter feed. You can easily move these percentages around based on how your prospects make a purchase.

      This social attribution model may lead to different biases based on the impact of your channels. However, if you want to report on your metrics for social media, this approach is more effective than taking a vanity metric approach. Vanity metrics give you a great overall picture of reach and popularity, but they do not connect your channels to revenue.

      Conclusion

      Social attribution models offer the best options for measuring real social media ROI based on the activity of your prospects. Most of the time, I take a multi-touch social attribution model approach because it helps me understand the customer path, rather than laser-focusing on a couple of touch points that may or may have not been key indicators.

      There is no right or wrong way to measure social interactions, but we can certainly aspire to the highest accuracy possible.


    • 7 Jun 2017 1:18 PM | Kathy Doering (Administrator)

      Posted October 28, 2016, DigitalMR


      Challenge

      In 2014, a renowned maker of luxury wrist watches commissioned DigitalMR to harvest and analyse social media data related to their product category, in order to understand what people were saying about their brand and discover some actionable business insights.

      A brand in an exclusive product category such as luxury watches is not expected to have a huge volume of posts or a large share of negatives, so it can mainly benefit from analysis that is granular enough to extract all the precious insights that a relatively small dataset can offer.

      Solution

      41,794 posts were harvested using the brand names. This was reduced to 12,520 after round 1 of noise elimination, to 4,423 after removing commercial (i.e. not consumer) posts, and finally to 4,134 after round 2 of noise elimination.

      In order to discover conversation drivers we created a hierarchical taxonomy of topics for luxury watches customised to the reporting needs of the client. The taxonomy was enhanced by topics which emerged through what people were posting online. This process in addition to showing sentiment by topic and sub-topic within brand, also enabled us to provide our client with Brand Share of Voice and Net Sentiment Score© benchmarking (NSS = a DigitalMR metric which takes into account the no. of positive and negative posts) for all topics and subtopics.

      Further to that, through our unique process we were able to identify ~513,000 posts from people contemplating buying a watch. This enabled the client to directly come in contact with social media users who could become customers. We also found influencers with a large following discussing watch brands in thousands of online posts, not only on social media, but also on blogs and specialized forums, so that the client could reach out to them and explore co-operation.

      Result

      This helped the client gain a better understanding of the social landscape around their product category and discover what consumers are saying with high sentiment accuracy. It also gave them the opportunity to engage with consumers behind posts expressing purchase intent, as well as category influencers which could potentially collaborate with the brand.


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