Cleverly building a system that proves the true value of social
SINGAPORE, [27 Dec 2013] – Amplifying online presence, driving consumer engagement, and promoting products and services online have been facilitated by channels such as social media. The measurement of its ROI in relation to business results however is a bane for many marketers. Given no clear social stratey and framework to analyse the success of social factors, many have tried and failed to attribute appropriate value to each social media call-to-action.
On top of having an unclear framework to work with, marketers face the issue of having too much data. According to Stephen Tracy, Regional Insight & Analytics Lead, Waggener Edstrom, “Currently, the marketing and communications activities of brands generate a vast amount of data, from the social interactions (e.g. likes, comments, etc.) to conversions and revenue, understanding how to cut through the clutter and measure what matters is a major challenge.” Going from insight to actions poses a different challenge. “Transforming your data and insights into an actionable business strategy is also quite challenging for many businesses and organisations today. The right balance of people (e.g. analysts), technology (e.g. analytics tools) and knowledge (e.g. best practice) is the key to making data actionable. However, finding this balance can be difficult and is unique to every business environment.”, Steve added.
The saturation of social media measurement software and tools should also be taken into consideration while measuring social media. Businesses tend to perceive the tools as immediate needs. However, they should, instead, ensure that they have the right people before purchasing the software. This highlights the need for analytics talent. As Steve observed, “The industry is still developing, and is currently made up of people who come from a wide range of skills and experience, from marketing to computer science to research & statistics. For brands who are building analytics teams in house, knowing who and how to hire can be difficult.”
In an effort to educate industry professionals on holistic strategies to measure social media efforts in their organisations, this year, the Social Media Measurement & ROI workshop will focus on the issues of building a social media measurement and reporting strategy, applying a measurement framework, proving the impact of your marketing and communications activities, and more. The workshop will provide practical and relevant case studies as well as hands-on exercises for delegates to practice the skills discussed.
Title: Social Media Measurement & ROI Workshop
Date & Venue:
23 – 24 January 2014, M Hotel Singapore
10 – 11 February 2014, Regal Hongkong Hotel, Hong Kong
Organiser : Pacific Conferences
Contact Person : Ms Cindy Toh
Tel : (65) 6592 761
Full programme can also be found at: http://www.conferences.com.sg/S1429-SMM8-01S-P.PDF
Pacific Conferences - Adding Value to your business
A non-sponsored and non-affiliated conference organiser presenting impartial & unbiased views about issues facing businesses in Asia.
About Pacific Conferences
Pacific Conferences (www.conferences.com.sg) specialisesin organisingbusiness conferencesaimed at providing interactive, insightful information and analysis about issues facing businesses in Asia-Pacific. Catered to middle and upper level executives, its events are usually case studies driven with emphasis on providing in-depth and unbiased practical knowledge.