Technology Cheat Sheet
Social Media Marketing What’s a CheatSheet? Gleanster Research produces two types of CheatSheats: ÆÆ Concept CheatSheats:
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The Technology, Defined Social media marketing refers to the process of gaining website traffic or attention through social media sites. Social media marketing solution providers deliver technology and services for executing social media marketing campaigns across one or more social media site.
overview of a key concept or technology. Our analysts develop these with one goal in mind; explain the concept or technology as if you were talking to your grandmother. It’s the quickest way to get acclimated to emerging business terms and impress your colleagues and your boss with practical insights at your next meeting.
Inside a Concept CheatSheet The Technology, Defined What’s does it do? Industry Jargon & Acronyms Features & Functions Pricing Justifying the Investment Before You Buy
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What Does It Do? There are literally hundreds of solutions for social media. They don’t all wrap up nicely into categories and many of them offer overlapping capabilities for customer engagement and social media monitoring. From a social media marketing standpoint there are sort of 3 unique landscapes of technology providers that address outbound communication and promotion via social media: • Social Engagement Platforms: Used to respond to comments on social media. These systems include light filtering to narrow what you monitor, the ability to assign conversations internally, and the ability to respond from the platform. (Examples: Attensity, Argyle Social, Hootsuite, Sprout Social) • Social Marketing Campaigns: Used to create apps, campaigns, and other creative assets on social media properties like Facebook, Youtube, Google+, and other social sites. These systems allow you to create, monitor, and measure campaigns. (Examples: Buddy Media, EngageSciences, Hearsay Social, Vitrue, Wildfire) • Influence Marketing: Used to engage influencers who will promote sponsored (paid and unpaid) content to their social
channels. These systems facilitate connecting brands with influencers who are passionate about topics a brand may also be interested in. (Examples: TapInfluence, Appinions, GroupHigh)
Industry Jargon & Acronyms Semantic Processing: Refers to the way people relate to their world, and how they make sense of it. Changing one’s representations of what things mean, in order to have a more optimum experience. The nature of social media means unstructured text must be contextualized before analysis. These engines are what allow social media platforms to know if someone is talking about “Red Bull” the energy drink or an actual “red bull.” Sentiment Analysis: Sentiment analysis (also known as opinion mining) refers to the use of natural language processing, text analysis and computational linguistics to identify and extract subjective information in source materials. A basic task in sentiment analysis is classifying the polarity of a given text at the document, sentence, or feature/aspect level — whether the expressed opinion in a document, a sentence or an entity feature/aspect is positive, negative, or neutral. Advanced, “beyond polarity” sentiment classification looks, for instance, at emotional states such as “angry,” “sad,” and “happy.” Computational Linguistics: An academic field concerned with the statistical or rule-based modeling of natural language from a computational perspective. Text Analytics: Text mining, also referred to as text data mining, roughly equivalent to text analytics, refers to the process
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Technology CheatSheet: Social Media Marketing
of deriving high-quality information from text. High-quality information is typically derived through the devising of patterns and trends through means such as statistical pattern learning. Most popular social media sites ranked by users: • Facebook
• Flikr
• MySpace
• LinkedIn • Pintrest • Google+ • Tumblr.
• Tagged • Ask.fm • Meetup
• MeetMe
• VK
• ClassMates
Features and Functions Social Media Marketing Platforms and Services come in a few flavors. Features may include: • Semantic processing for filters and listening. • Sentiment analysis for analytics and insights. • Publication through multiple social properties from a centralized platform. • Role-based workflows and approvals. • Role-based security. • Automated alerts based on the nature of posts. • Social Media branded landing pages: The ability to add a custom landing page and form capture on Facebook or engage Twitter users. • Polls: Social polls and surveys. • Sweepstakes: Social promotion, sweepstakes, and customer referral with the goal of finding new prospects via social media.
• Customer advocacy: Referral programs to encourage customers to become advocates of a brand. • Publication and Promotion: Post and schedule messages to popular social sites. • CRM Integration: Integration with CRM to augment customer contact records with known social media profiles. • Monitoring and response: notification and centralized response platform for customer engagement across multiple social media sites. • Governance: The ability to centralize brand execution across social media channels as well as audit logs to manage comments from large teams of social engagement reps.
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Here’s why you might consider it: • Efficiently monitor multiple web properties in one place • Team collaboration on social output • As an extension to customer service and support • To identify brand influencers • To monitor brand sentiment • Customer satisfaction • Customer loyalty • Brand awareness • Brand monitoring • Competitive insights • Product and service launch analysis • Segmentation and targeting
Pricing Prices range dramatically and tend to increase based on the robustness of features. Small business can find viable solutions such as TweetDeck and Hootsuite for free or as low as $10/month. Enterprise class solutions range from $500/m to over $3,000/month depending on the volume of keywords being tracked and the number of users in the system.
Justifying the Investment There are opportunity costs involved in failing to monitor and respond to comments on Social Media Marketing. One negative comment could spread if left unchecked and it could very well represent an anomaly for your brand. Generally, it’s pretty hard to link social media engagement to revenue unless marketers strategically place trackable call-to-action triggers in campaigns with finite execution goals.
• Customer data augmentation
Before You Buy You need to develop a brand strategy around social media. Social Media Marketing tools can be powerful, but they can also help broadcast and accelerate mediocrity, which isn’t so good for your brand. Before starting to engage on social media, consider your audience: • Do you have content and materials to share that they would find valuable? • Who is your target audience? Why? • Do you know which social media sites your target audience frequents most? • Do you have a social media strategy for the brand? Have you defined what type of content is appropriate? • What do you hope to accomplish with social media? How will you measure if you accomplished it?
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Technology CheatSheet: Social Media Marketing
Headquarters
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Entire content Š 2014 Gleanster, LLC. All rights reserved. Unauthorized use or reproduction prohibited. Note: This document is intended for individual use. Electronic distribution via email or by posting on a personal website is in violation of the terms of use.