Businesses and advertisers can already access enormous amounts of personal data on social media sites, from where you live to what you like. The next step is sentiment analysis, where online conversations are mined for words and thoughts, for a commercial advantage. Is this ethical, and could computers really sift sarcasm from enthusiasm? Reporter, Shevonne Hunt
Also huffduffed as…
We’re actively building the foundations of cylons today. Data mining today is going to power the future knowledge networks that peel ourselves down into our finer bits, of which will be used to fuel generations of smart machines that will know us in layers of understanding we can’t process today. Bring on the cylons, #6 please stand up.
Now that social media is accepted practice in the business world, the question still remains, how do you measure it?. The "bottom line" (ex. return on investment) is generally what comes to mind first for Leadership, but how do you measure your social media efforts when the focus of your business includes repeat and referral business? In their presentation, Mark Krupinski and Jeremy Hilton define the Net Promoter Score along with a case for it’s consideration as a Return on Investment (ROI) metric for your social media initiatives. Additionally, they compare this measurement with other customer loyalty and sentiment formulas currently being championed by industry leaders. Lastly, Mark and Jeremy review real world examples of the Net Promoter Score in practice by mainstream organizations.
‘Social Media Marketing’ is the start of a conversation about marketing communications using social media forms, including internet sites and mobile telecommunication sources. The book discusses the importance of data and analytics both in helping to monetize these media, and in improving the way that the owners of these media market themselves. Marketers wishing to communicate with customers, or potential customers via social media need to adopt a new set of skills and techniques to be effective. The need for dialogue and involvement, for engagement, is paramount. This book discusses solutions that allow marketers to target and measure their activities within social media.
Alan Moore, Smlxl Ltd