Why Use Social Analytics?
Businesses are sold on the need to have a presence in social media, but some still aren’t sold on using a social analytics solution. And some who are using one wonder if they’ve chosen the right use cases to apply it to.
We wanted to get some facts on who’s using analytics, what they’re using them for, and what benefits they’re getting. So we sponsored a benchmarking study conducted by Demand Metric. Called “Social Media Analytics—Enabling & Optimizing Use Cases,” the study asked the question: “How are companies enabling and optimizing their social media efforts through the use of analytics?”
The study’s goal was to find out:
- What is the adoption of social media analytics tools?
- Where are they providing insights?
- What influence does social media have on revenue?
- What are the measurement/analytics challenges?
- What ROI are organizations experiencing?
Among their findings are that:
- Analytics are key to social media effectiveness and ROI.
- Having analytics tools ≠ knowing how to use them.
- Social media must align with business objectives.
- Companies need to learn how to use the tools to drive the right things and prove ROI.
NetBase and Demand Metric held a webinar on February 5 to present all the report’s findings. You can listen to the replay here. From the questions webinar participants asked, it was clear that:
- Companies are still struggling to figure out how to measure the ROI from social—70% say they “can’t quantify” the ROI of social media efforts
- Awareness of command centers has increased dramatically (93% of respondents are aware), but some people are still unsure what they’re used for
- Individuals responsible for social within organizations are looking for ways to better align social strategy to business objectives
You can download the slide deck from the webinar, which contains all the findings and the Demand Metric report here.