Read your Social Media Analytics to Improve Your Business

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Read your Social Media Analytics to Improve Your Business
Social media has become an important element for businesses and for their plans to build
successful online presence. But what organizations still ignore and don't pay much attention
is to make necessary social analytics to reach success in their social media plans that will in
turn help businesses boost their performance. This is what has been stressed in a recently
published research.
The study which is published in a Journal of Internet Social Networking & Virtual
Communities is carried by researcher Umar Ruhi at the school of management, University of
Ottawa, Canada. The research finds that social analytics is an essential factor businesses can
use in "evaluating the success of their own social media initiatives" that has a direct impact on
their business.
According to the research "a successful social media analytics program can enable businesses
to improve their performance management initiatives across various business functions." It is
mentioned that data was collected with the participation of 11 experts and "the participants
who were invited to assist with this research were selected as experts in the field of social
media analytics by virtue of their industry experience."
Organizations are not yet into social media analytics and they haven't yet fully benefited from
the lessons they can learn from data collected. The study highlighted that all the experts that
took part in the research "agreed that as a business practice, social media analytics is still in
its infancy" and if done effectively it "can allow organizations to predict the behavior of
various stakeholders and industry players within their business environment".
The organizations should put more efforts in the aim of "understanding the potential for using
social media metrics and analytics in the context of their business, in defining their business
objectives and requirements".
What businesses still inquire is an accurate and a "satisfying answer" on the weight of their
social media presence and its return on investment (ROI). The study stated that "some
marketing professionals are experimenting and redefining ROI in terms of social media
specific outcomes". The "consultants have recommended the use of Return on Influence or
Return on Engagement as being more appropriate in the context of social media." The study
clarified. However, "participants concurred that even these new metrics remained "hazy" and