Recently Forrester Research just estimated that social media marketing spend is expected to grow from $455M in 2008 to $3.1B in 2014. There are over 450 million users when you combine the users of major social networking sites -Facebook, MySpace, Twitter, Orkut and Hi5. With such extraordinary growth opportunity in social media there are some new unique challenges for marketers with content promotion and measurement.
In today’s web2.0 world the goal of every marketer is their content to have it own legs and spread as far as possible across social media channels. With that come the challenges of measuring the impact and effectiveness of their campaigns.
Marketers are wondering what if I could segment my social media viewer/users by age, gender, network, school, number of friends they have, and the city they live to understand how they interact with my content and what kind of action is triggered in each of the segments. What if I could get some insights to the path or events which led viewers/users to conversion or acquisition? Wouldn’t it be great if I could correlate my social media metrics with my conversion and acquisition events with other online channel such as Web, Mobile, Video, etc. to get a complete 360 view? Wouldn’t it be great if I could measure all my social media channels asily without any additional complexity?
Well stay tuned to my blog post in coming weeks to know learn about the solution which will help you answer all above questions.
-Vishal
Monday, May 4, 2009
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