Analytics: The Key to ROI from Social Media
By now, everyone agrees there's great value to be drawn from the social-media dataset. But how do we define and categorize that value? This chart places marketing and PR activities along two axes: from reactive to proactive and tactical to strategic. And it demonstrates that Analytics provide the key to a world of ROI from social data.
Activities that are more strategic and proactive are best informed by an analytical listening platform like Networked Insights' SocialSense. We cover the orange section of the chart. Those activities in the gray section are typically associated with monitoring solutions. Sure, there's some value in the gray area. But with all the interest in quantifying and evaluating ROI from social media, the orange activities are worth noting for their high ROI value.
Being smart and informed early in the process (regarding Market Research, for example) pays greater dividends than being smart later (Crisis Management, for example).
Still, a marketer's first thought about using social-media data is often found at the bottom left of the chart around PR activities. I hope this chart encourages marketers to think more broadly. As you begin to track patterns over mentions, moving rightward and upward across the landscape of the Analytics chart, you'll reap greater rewards and realize significant, measurable ROI from your social-media listening efforts.
Where do you fit on the continuum? Are you operating in the orange area? I'd love to hear your feedback. And please share this chart, either by linking here or passing it along.
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