M5-Social Information Filtering
M5-Social Information Filtering
● Marketing and advertising: Businesses can use social media to reach potential
customers and promote their products or services. This can include creating a social
media presence, posting content, and running ads on social media platforms.
● Customer service: Businesses can use social media to provide customer support and
answer questions or resolve issues. This can include monitoring social media for
mentions of the business and responding to customer inquiries or complaints.
● Public relations: Businesses can use social media to manage their reputation and
communicate with the public. This can include responding to negative reviews or
feedback, as well as sharing news and updates about the business.
Understanding Social Media and Business Alignment
● Counts: This includes the number of fans, followers, or friends, as well as the
number of views, likes, or similar indications of favorable opinions on the
company's social media content.
● Social sharing: This includes the number of times the company's content is
shared, mentioned, or retweeted on social media platforms.
● Engagement rate: This is the number of engagement activities (likes, shares,
etc.) divided by the number of friends, followers, or fans, and indicates the
level of engagement of the company's social media audience.
Measure of Success for a Company’s Social Media Campaign:
● Interaction: This includes the number of customers with whom the company
has engaged, the number of conversations, and the length and resolution of
those conversations.
● Referral rates: This is the amount of traffic driven to the company's website
from its social media presence, as measured through click-throughs or
website analytics.
● Importance and influence of users: This includes metrics such as centrality
or the number of friends, which indicate the influence and importance of users
in the company's social media network.
Social Media KPI
● Reach: The number of people who see a business's social media content,
including followers, friends, and other users who come across the content.
● Engagement: The level of interaction with a business's social media
content, including likes, comments, shares, and other actions taken by
users.
● Traffic: The number of users who click on links from a business's social
media content and visit its website.
● Conversion rate: The percentage of users who take a desired action
after visiting a business's website from its social media content, such as
making a purchase or signing up for a newsletter.
Social Media KPI
● Customer satisfaction: The level of satisfaction of a business's
customers, as measured through social media interactions or
surveys.
● Lead generation: The number of leads generated through social
media, such as users who provide their contact information in
exchange for an offer or resource.
● Return on investment (ROI): The financial return on a business's
social media efforts, calculated as the profit gained divided by the
cost of the social media campaign.
● Cost per acquisition (CPA): The cost of acquiring a new customer
through social media, calculated as the cost of the social media
campaign divided by the number of new customers acquired.
Exercise
● Find a company that has undertaken a viral
marketing campaign over social media.
○ What is the essence of the campaign?
○ What metrics can you use to measure it
(number of views, fans, likes, etc.)?
○ Is the campaign ongoing, or did it run for a fixed amount of
time?
○ Are any statistics available to indicate the success
of the campaign? If so, what are they?
Formulating Social Media Strategy
1. Define objectives: Identify the specific goals that the business
wants to achieve through social media, such as increasing brand
awareness, generating leads, or improving customer satisfaction.
2. Identify target audience: Determine the demographics and
interests of the business's target audience, including age, gender,
location, and social media habits.
3. Research competition: Analyze the social media presence and
strategies of the business's competitors to understand what is and
is not working in the industry.
4. Choose social media platforms: Select the social media
platforms that are most relevant to the business's target audience
and objectives.
Formulating Social Media Strategy
5. Create a content calendar: Plan and schedule the types of
content that the business will post on social media, including text,
images, videos, and links.