how to use social media analytics to boost roi
DESCRIPTION
Social media analytics can drastically improve your ROI. Here's a practical guide for using social media analytics to make your social media marketing SIZZLETRANSCRIPT
HOW TO: Use Descriptive and Predictive
Analytics to Boost Your
Market Performance
AMA –DC Washington, DC
June 19, 2013
Hausman and Associates
Hausman and Associates
Angela Hausman, owner of Hausman and Associates, is an Associate Professor of Marketing at Howard University. She is the author of several books and numerous publications on social and internet marketing. In additional to writing for Hausman Marketing Letter, she is a popular writer on Business 2 Community, Social Media Today, Technorati, and Social Media Mags, Follow her on Twitter @MarketingLetter or on Facebook!
Hausman and Associates
The Problem by the Numbers
• 2.2 X better ROI• DATA• 80% unstructured and 3 Vs• 20% growth• 1.6X 1021
• 60% MORE analytics skills• Assumptions?????
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WHAT TO
MEASURELikes?
RT?
Comm
ents
?
Fans?
Followers?Repins?
ROI?
KPI
?
Loyalty?
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Michael Stelzner, Social Media Examiner:
Marketers are beginning to understand that the ROI of social media extends beyond sales goals.
Hausman and Associates
CONVERSIONKPI’S
SALES FUNNELCUSTOMER SATENGAGEMENTSENTIMENT
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I need …
I want …
I like …
… is stupid
… is really cool
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• Descriptive: Google Analytics, Facebook Insights, Pinterest, etc
• Predictive – Hadoop, Big Insights, etc• Prescriptive – Infoshere Streams
Predictive Analytics
Y= ƒ (Xi, ßi) Behavior= Attitudes, Social Norms
CLV
Tech Acceptance = Perceived Usefulness, Perceived Ease of Use
Events = Community Engagement, Performer, Venue, Location
Segmentation
Forecasting
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Hausman and Associates
Prescriptive Analytics
Allocate scarce resources under conditions of uncertainty.
Optimize returns with limited risk. Which products and how much Who and how
Example – manage engagement in social networks
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Big Data
Storage issue
Analysis
Spurious correlations
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Put it Together
Take Aways
SMART Goals
Metrics?
Part science, part art
Dashboards
Monitor/ Tweak
Predictive Analytics ≈ ROI
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Questions
@MarketingLetter
http://hausmanmarketingletter.com
http://LinkedIn.com/in/angelahausman
http://Facebook.com/angela.hausman
http://Pinterest.com/MarketingLetter
Hausman and Associates