Nov 26, 2013 04:49 PM EST
It is important to optimize and gain new insights for the organization. The McKinsey Global Institute last year estimated that $900 billion to $1.3 trillion in annual value could be unlocked in just four sectors by products and services that enable social interactions in the digital realm. The Google Analytics Platform allows Android users to measure user interactions across mobile devices and environments. Google Play Campaign Measurement features Google Mobile App Analytics which is compatible with native Android app installs. Users can add to advertising campaigns and other marketing to create new Google Analytics app reports.
Google Analytics SDK
The analytic technologies today will better manage social media and big data growth. Organizations can save more time to focus on innovation, strategy and other growth areas. Companies providing the right analytics tools and its information that enable them to do so. "CIO should go beyond this. Sub-divide and also be able to rapidly sub-divide. Senior managers can become change catalysts and see how it evolves with these initiatives."
The CPM (cost per thousand) metric is a mainstay of advertising, and the idea is that you break out the total cost of an advertising campaign against the total potential reach, and then calculate how much it cost you to reach every thousand people. While there are some holes within that metric, it’s one many executives still turn to, so it can be one weapon in your arsenal if you’re trying to prove the value or efficiency of outreach in a social media aspect.
It can also be difficult to understand the value of having a Facebook page, or of using Twitter in the first place. Managing and monitoring posts and interactions can be easy, especially if the business gives that specific job to an employee. There are tools to help provide a picture of social performance by indicating what topics are hot and which ones are not. As the results are analyzed and can be adjusted to generate more customer interaction.
How well do you measure the effectiveness of social media?
How do you measure success?
What is the return on investment?
What metrics are translatable in real terms that we can use as proof points or milestones?
How do I assess return on investment and measure the impact on brand valuation?
When you committed to being involved with social metrics, how did you staff for it?
Who owns social media analytics in your organization? Questions like these especially in the initial phases, being social media metrics is a complex area are important. We have to define its objectives, identify these challenges and analytics to measure. Applying questions in the early phases is crucial.
When there are large amounts of data being generated through loyalty programs measurement in analytics can be complex. To overcome big data challenges a common approach is testing several specific experiments. Whether its data from customer feedback to optimization related data, asking the right questions and acting as the problem solver can resolve issues.
Make sure to measure correctly. Identifying "false data" errors in measuring analytics and the type of erratic patterns found are better than no identifying erratic patterns at all. The right products or services have to derive return on investment and improve the overall automation process, data mining capabilities. Today we are able to learn more of the customer than ever before. How to use the data and appropriately is crucial.
How do you use social technology to measure impact? Share your experiences with us here.
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