Social Media Analytics

Techopedia accurately defines social media analytics stating :

• "Social media analytics (SMA) refers to the approach of collecting data from social media sites and blogs and evaluating that data to make business decisions. This process goes beyond the usual monitoring or a basic analysis of retweets or "likes" to develop an in-depth idea of the social consumer. Social media is a good medium to understand real-time consumer choices, intentions, and sentiments. The most prevalent application of social media analytics is to get to know the customer base on a more emotional level to help better target customer service and marketing."

Social Media Analytics relies on the use of various key performance indicators. These numeric metrics help measure the effectiveness of social media. Primary aspects to monitor are audience size, audience profile, reach and engagement, traffic, content analysis, community responsiveness, competitor benchmarking, and sentiment analysis. Here are some useful metrics that companies widely use today:

Recommended Tools to Use:

• Platform-Based: Facebook Insights,  Twitter analytics, Pinterest Analytics, Instagram Insights
• Management Tools: Hootsuite, SproutSocial, Agorapulse
• Solely Analytics Software: Simply measured, Rival IQ, Quintly Google Analytics

Tools like these allow companies to gather and monitor data. This data is then analyzed and made into a report. Reports are given to decision makers that can make the calls on where to improve, continue on, or stop efforts. This allows effective decisions to be made that can be supported by meaningful data.

Social Media ROI

Social media ROI is sometimes viewed as impossible. Calculating ROI can be difficult because translating social media progress into financial or any tangible benefit is complicated. ROI is important because it measures the return companies acquire after investing time and money into having an active social media presence. Companies should determine ROI because it allows them to see if their efforts are working and enables them to improve their overall reach. It also determines which media channels are most successful in generating revenue.

The first step is to define goals. These goals must be a trackable and measurable action from the user's end. Some examples include purchases, downloads, or email sign-ups. The goals should enable you to differentiate between a browsing follower and a lead that will eventually purchase something. This is why simply tracking followers and likes is nice but not wholly meaningful. After this, attach determined goals to different campaigns. This way, each campaign has a purpose and measurable outcome.

Next is actually tracking the goals. Tools to use are Google analytics or Hootsuite Impact. USe Google URL Builder to attach trackable links to each campaign. For each conversion attach a value. Values to use are lifetime value of customers x conversion rate and average sale. These values for each campaign will be the earnings.

Last, social media expenses must be calculated. This includes employee hours, social media tools costs, and advertisement costs. Now, subtract these expenses from the earnings. This should be done for individual social media accounts or even campaigns in order to isolate each and see which site and campaigns are performing the best. Below is the simple ROI formula:

(Earnings-Expenses) x 100 / Expenses = ROI of Social Media

Hootsuite Basics

Successful social media, as mentioned by Professor Todd Kelsey, is dependent on content. This is why it is important for social media marketers to produce content that will attract, engage, and retain their target market. While a tool like Hootsuite cannot automatically curate meaningful content, it can effectively manage it. Hootsuite is a social media management platform. It allows users or companies to integrate up to 35 social media accounts into a single space. This allows for ease and efficiency when utilizing various networks. The dashboard allows for scheduling, content curation, monitoring, and analytics. HootSuite has products that amplify or boost follower counts, provide insight into current audiences, and prove ROI impact of social media efforts.

Hootsuite is also helpful when attempting social listening. Social listening involves figuring out what others are thinking and saying about a company and its social media. You can use a feature called GEOFILTER to see what Twitter users nearby are saying about a company, within a 50-mile radius, for instance. The tool essentially uses keywords to search for tweets then filters out anyone farther than the stated distance. Another similar feature is the location stream option. This allows users to see who is posting what content within a specific location, like in the corporate building or international store. The location stream and geofilter are beneficial because they allow companies to assess what people in closest proximity feel and express about the company.

Often companies will initially post regularly, especially during important product launches or events, then slowly quiet down. The scheduler feature is probably the most helpful management tool on the platform. The Bulk Composer feature allows up to 350 posts to be prematurely created then published on a predetermined day. The Hootlet Chrome extension allows you to post short content instantly and without directly accessing the Hootsuite dashboard. All posts can be read through calendar view, which provides a visual to ensure proper dates will have postings. Ultimately, the schedule feature enables users to create content ahead of time, especially for days like Women's Day or Holidays like Christmas. This organizes postings, ensures uniformity across accounts, and inhibits gaps in social media activity.

Overall, Hootsuite is an established company that provides a unique service. While a single user or a small company may not find massive benefit in a platform like this, a large company with a greater reach and more social media accounts will find Hootsuite and companies like it indispensable.

AI Today

Chapter 3 from Surfing the Tsunami by Dr. Kelsey, covers the numerous ways artificial intelligence has proliferated into current business and consumer life. Here are some common AI advancements that affect daily life:

• Self-driving cars
• Companies like Google and Tesla have already produced largely self-driving cars. These cars have the ability to brake when objects are detected or adjust speed to outside traffic conditions. While these cars are not yet perfect, they are getting more advanced every day. Ultimately, they seek to reduce traffic, texting, and drunk driving accidents. According to NHTSA 94% of accidents are because of human error. AI is beneficial because it removes the majority of all human error.
• Ride-Sharing Apps
• Apps like Uber and Lyfe use algorithms that automatically adjust pricing and minimize wait time.
• Airplane AutoPilot
• Majority of airplanes flown today, especially Boeing built planes, primarily fly through autopilot. The average human steering is 7 minutes during a Boeing flight and typically from takeoff and landing.
• Computer Assistants like Siri, Alexa, and Google.
• Use advanced voice recognition to connect to data stored on a cloud. These products are used to answer questions or obey commands. Although these too are not perfect, as they learn they are getting more and more accurate.
• SmartPhones
• Smartphones involve various types of AI technology. Face recognition, location-based suggestion, and predictive texting are some ways AI has crept into daily life. The picture below from BusinessInsider.com displays additional ways machine learning is used through smartphones:

Introduction to Artificial Intelligence

The word artificial intelligence has been rampant recently; is it the future or just another buzzword? Broadly speaking, AI is programming that gives machines the ability to analyze data and solve problems the way a human could, but faster and possibly more accurately. This article on Deloitte.com sums artificial intelligence perfectly stating, " AI is concerned with getting computers to do tasks that would normally require human intelligence".  Before machines were largely responsible for automating tasks like bottling soda or sewing a shirt. Today, machines are attaining higher levels of sophistication that allow them to automate not only tasks but entire processes. AI entails machine learning which involves algorithms that allow computers to continuously improve or "learn" as it gathers more data. Examples of AI include advancements like Siri or self-driving cars. Smart machines, another form of AI, are robots with the ability to act independently from human input or intervention. This development of intellectually autonomous machines is already in progress.The science fiction movies are now moving away from being fiction and becoming a reality. Although a machine-dependent world is still far in the making, recent advancements in AI technology have proven that AI will quickly dominate moving forward.


According to Stanford's 100 Year Study on Artifical Intelligence, "Global revenues from AI for enterprise applications is projected to grow from $1.62B in 2018 to $31.2B in 2025 attaining a 52.59% CAGR in the forecast period." This projection proves the massive growth of AI and the effect it will have on the economy.  Robot imports into North America have increased by 150% percent over the past 15 years. In addition, from 2013 to 2015, the share of jobs requiring AI skills has increased by 4.5 times. AI research and investments for AI have increased immensely in the past few years. Although AI is sure to put many people out of jobs it will also boost the economy and eventually create jobs, particularly in the data and computer science fields. It is important to stay up-to-date on AI advancements and highly consider investing time into learning skills like coding and deep learning in order to stay relevant. 


Below is a useful infographic from innovec.com on the current dominant abilities of  AI and examples of how they are currently being used in our daily lives:

Facebook Ads

Facebook ads are helpful in reaching different markets. It is important to understand all types of ads in order to gain optimal exposure. Here are the primary types of ads:

Link Click Ads: These ads are by far the most common and are effective in gaining likes. They typically contain a headline, 90 character ad copy text, and an image. Link click ads, like the name suggests, point to a landing page on a website or blog. These ads have the farthest reach including the right column, Instagram, mobile, and desktop newsfeed platforms.
Video Ads: These ads are essentially like link click ads except they feature a video. These videos can be continuously looping. The best performing ads, however, are typically short at 15-20 seconds long.
Boosted Page Posts: All posts made on a Facebook page can be boosted for around $5. Posts can have unlimited ad copy texts and will read "sponsored" at the top when they appear in users feeds. This is a newer go-to-method because target markets and bidding amounts can be customized.

Carousel Ads: This type of ad displays rotating images (up to 10) and an ad copy text of 90 characters. This ad is super helpful when trying to promote multiple products at one time. For instance, a new line of summer clothing can be advertised perfectly with this method.
Dynamic Product Ads: These ads essentially focus on remarketing. They heavily target users based on previous websites visited and actions. These ads require a product catalog and Facebook does the remarketing automatically.
Lead Ads:  Allow users to download an ebook or sign up for an email without leaving Facebook. This is perfect for gaining and attracting new users.
Collection Ads: These ads allow for quick, immersive mobile shopping experience because they directly display products/ apparel from a website. These ads are very limited in characters and only visible on mobile devices.

For more ads types and information on Facebook marketing, I highly recommend checking out this guide: https://adespresso.com/guides/facebook-ads-beginner/

Facebook Pages

According to Facebook's 2017-Quarter 4 report, there are currently 2.13 billion active Facebook users worldwide. Naturally, this means that Facebook is the perfect place for business to gain traction. Today, Facebook pages are typical for companies, non-profits, and events. These pages are essentially like free, internal websites for any topic. Now, Facebook "Boosts" allow for paid exposure, which is essentially another way  to market content. As stated in Introduction to Social Media Marketing, "focus on content and not the channel". This recommendation is important because no matter the medium that is used, success ultimately boils down to adequately understanding the audience and providing them with relevant, engaging content.

Here are some tried tips for a successful Facebook page:

• When making a page, be sure to edit the URL so that it is simple and memorable. To do this go to settings --> page info --> change the Facebook Web Address. This lets people easily find and remember the page. 
• Create milestones. These appear in the status update box and allow companies to show off accomplishments, product launches, or growth goals. This provides a sense of legitimacy and positive reactions with onlookers. 
• Link Instagram and Facebook in order to provide higher quality visual content to a larger audience. Photos speak louder than words. Therefore, adding quality photos to posts will enhance engagement.  Adding an infographic or flyer is far more effective than a lump of words. 
• Interact with followers. This can be done through polls. Adding polls and receiving feedback can aid in decision making by letting you know your target market's preferences. For instance, before launching a soap collection, a poll can be made for people to pick their favorite scents. A poll like this can determine which scents will sell successfully while increasing customer engagement and loyalty. 
• Test posts during different times in the day to see when the most traction occurs. Companies with older target markets may see more tracking during the afternoon, and target markets with younger audiences may see traction at night. This tactic requires trial and error and can effectively lead to a wider reach.

Here's a brief, helpful Facebook infographic from 99designs: