Marketing Knowledge
Podcasting guru Jon Savage to discuss whether podcasts are the ‘comeback kid in marketing’s rock ‘n roll band?’
SOCIAL MEDIA
Measuring and monitoring the value of social media strategies
By our News Team | 2021
Digital marketing has become possibly the top responsibility of marketers today, so they need to focus their strategies through social listening.
Marketers should ‘listen’ carefully across the full spectrum of social conversations about the brand and competitors. They can tune in more clearly to their audiences and respond with relevant social media campaigns. Importantly, listening will help focus the overall social media strategy and inform its key performance indicators.
Marketing budgets devote almost 60% towards digital, according to some estimates. So marketers are only too aware that developing consistent and creative social media campaigns is a critical part of the equation.
Dale Hefer, CEO of the Nedbank IMC marketing conference, says that without insightful user-centred monitoring, such campaigns can be sold short on the value and impact they create for the brand.
Photo by Camilo Jiminez @ Unsplash
It can be challenging to demonstrate how much these metrics are actually contributing to the company’s bottom line. How can one compare this to other strategies the company has invested in? If marketers cannot connect these activities to tangible returns, then there is little justification in engaging in those tasks.
Immediate feedback during and after events
The power of social media monitoring enables dynamic live feedback through its ability to capture and measure posts, comments and net sentiment in real time. The Nedbank IMC 2021 event monitored social media using local tracking platform amaSocial. This allowed the organisers to gauge the audience both during and after the event for immediate feedback.
Artificial intelligence (AI) is the game changer for social media monitoring. Marketers in the global CMO Survey, for example, anticipate that using AI for prediction and measurement will triple over the next three years.
However, Petrumarié Jacobs, who is the Client and Brand Experience Manager at amaSocial, cautions: “Using AI, numerous social media monitoring platforms can ensure that their users have access to vast amounts of information. But if this is not expressed in usable formats it becomes hard for users to extract the value.”
In the CMO Survey, as many as 59% of marketing leaders reported increased pressure from their CEOs to quantify the value of their marketing efforts, making usable data extraction vital.
Source: Nedbank IMC marketing conference
Social Media
While some legislators want a complete ban on TikTok due to spying concerns, US marketers want to spend more on the platform.
Social Media
Utah is the first state to heavily curb minors’ access to social media, but others may follow with even stricter laws.
Supply Chain
Businesses can make more accurate predictions about demand, optimise their operations and make better decisions about inventory management.
AMC News
High-level Chartered Marketer (Africa) programme equips marketers to operate successfully in the continent’s complex and diverse markets.
Content Marketing
Why do some articles captivate readers and encourage them to keep reading, while others make them lose interest after just a few sentences?
Digital Marketing
Analysis finds social media used by less than 4% of people, while mobile phone connections are equivalent to less than 60% of Malawians.
E-commerce
E-commerce giant is yet another tech company that is finding the market increasingly tough. It has already cut 18,000 jobs.
Customer Data
Survey finds 60% of marketing leaders believe collecting customer data while balancing privacy and customer value is now more challenging.
Social Media Consulting
Charge as if you’re employing a small team. It’s not deception, it’s the money you will use to start hiring and scaling the business.
Consumer Health
It is not sufficient for consumers to want to decrease sugar intake. Brands should offer appealing products that help reduce consumption.