Social Media Analytics



Faculty Mentor:
Mr.Devesh Lowe

Student Name:
Keshav Vats (MCA – I)
Harshit Heda (MCA – I)


1.INTRODUCTION

Social media not only provides marketers with a means of communication with their customers, but also a way to better understanding their customers. The idea is to see the data through new paradigm of public’s perception. The mass media traditionally was bereft of public’s feedback but the social media proved to be a game changer. Social media, defined by Kaplan and Haenlein “A group of Internet based application that build on the ideological and technological foundations of Web 2.0 and that allow the creation and exchange of user generated content”. The data can be analyzed by converting into the text in UTF-8 format and analyses in the corpus analysis software like AntConc.

2.SOCIAL MEDIA PLATFORMS

What’s the thing first that comes to your mind when you think about “Social Media”? Yes, it’s Facebook. It attracts over 2.14 billion active users per month reported in July 2019 which is an 8% increase in the monthly active users compared to 2.38 billion monthly active users in march 2019. Facebook is actually too big to be ignored as an on-going part of Social Media Analytics. Last year Facebook struggled with the major problems, starting with its biggest controversy, privacy scandal with Cambridge Analytica, a political Data Mining that played a very big role in 2016 US Elections working on Trump Campaign, accessed the private information of up to 87 million users.

image

In this race between Social Media Platforms YouTube is not far behind with 2 billion signed in viewers per month. CEO YouTube Susan Wojcicki also said that viewers watched around 250 million hours on YouTube every single day which makes it most popular video sharing Social Media Platforms. For several years, YouTube has been struggling with ‘Brand Safety’, expected by its advertisers and with the critical observation for copyright issues on the content, freedom of speech and hosting inappropriate video content such as the incident at the recent Christchurch Mosque shooting. Although Instagram joined the party later than the other Social Media Platforms( it launched on 6th October 2010), Instagram certainly became popular in this competitive era of social media sites , the photo sharing app has travel a long way from its humble beginnings. With 500 million daily active users, there are number of opportunities for users, business alike and influencers.

image

Twitter disclosed number of daily users which are up to 126 million, with a 9% increase in daily active users compared with the last year at the same time period. Despite the vast usage among rich and famous, sometimes uncertain decline in the active user base not been impressing the investors as the platform is largely reliant on delivering advertising the users in order to generate revenue. There are many more like Snapchat with 310.7 million monthly active users and 190 million daily active Snapchat users with average time spent per user on a daily basis is 30+ minutes in July 2019.
WhatsApp has 500 million daily active users , it is a messaging app with end to end encryption. And it has also the features like “story” (sharing photo and videos) similar to the other Social Media platforms like Snapchat, Facebook and Instagram.

3.DATA COLLECTION

Social media data refers to all the data collected from different sources and different software. This data helps organization to make changes according to the customers. The main motive to collect data is to give services to customers according their needs.

3.1MODES OF DATA COLLECTIONS

There are multiple ways to collect data from customers. Different methods create effects that change how respondents answer. There are list through which data can be collected:
  • Mobile surveys
  • Online surveys
  • Mail
  • Telephone
  • Face-to-Face


3.2.OPINION

Twitter or Facebook has become a very popular communication tool on internet in recent years. Information is gathered and managed through mobile or computers by single/ group of person and is consumed by many other persons, most of this user-generated content being textual information. As there are lot of data from people who posting messages about their opinion on various topics in daily life. The best to view social media as a source of data, which includes the following process:
  • Shares
  • Like
  • Comments
  • Conversions
For data collection from these social media platforms, any developer can use his developer account and can access data by using authorization keys generated from his account. For commercial needs, this data is available on paid basis. Data can be analyzed using Python and R scripts which offer a huge library base to perform and apply number of statistical tools on data. Certain open source, free and paid tools are also available for analysis on data provided by social media. Some of the tools are discussed in section 2.3 below.

3.3.TOOLS FOR ANALYTICS

  • Sprout Social: According to many websites Sprout Social is on the top of the list. It tracks Facebook page impression, tally the Twitter link clicks, measure Instagram growth, evaluate LinkedIn, content performance on Pinterest and more.
  • Awario: Awario specialize in tracking brand and industry conversation across the web. Awario lives up to its names by providing real-time data behind those mentions.
    • image
  • BuzzSumo: BuzzSumo is an awesome resource for analysing the social media data of any given content. If you want to see how many shares or likes your latest blog post receives on Facebook, Twitter or etc., BuzzSumo can provide you with that data. You can also monitor the content performance competing for industry keywords, shows how your content is used to stacking up against competitions.
  • Snaplytics: Snaplytics focuses on analyses Snapchat and Instagram Stories. This platform looks at open and completion, allowing brands to see how many watching and sharing on your stories.


4.ANALYTICS

Analytics is important to see that social media strategies are to be evaluating to achieving their goals. As a result almost every company are focus on social media business analysis. They are looking for multiple ways to measure, monitor and improve their Social Media Impact in attracting customers. Hence are few of the ways that are commonly used to track social media effectiveness.
  • Monitoring: Monitoring conversation of a company’s products or brand. When and where the conversations happen? What kind of conversation? What is their reaction?
  • Website Analytics: Analytics is the optimal tool for measuring visitors, conversion, repeat visitors, and visitors spent time on site.
  • Campaign management: Measure the work of social media campaigns and advertisement.
  • Customer service: Satisfaction, correct price, loyalty, product/ service awareness are effectively managed and measured using these social media analytics.
  • Search engine optimization: SEO(Search Engine Optimization) and level of organic visibility ensures the reach of our social media campaign and enable the deep penetration into social media market.


4.1.TRENDS

Companies are measuring customer’s activities against prospect and customer profits. They check whether there any coupons are used, a customer is ordered anything or a purchase anything. This type of measurement is called CRM. It is a power tool in social media business analysis. There many CRM measuring tools available from low to high to choose from measuring and improving social media data and increase organization growth. There are many ways to track trends:
  • Cyfe
  • Reddit
  • Tweetdeck
  • Google Trend
  • Hootsuite


4.2.REGRESSION

A regression analysis is a way to measure the relationship between one people to another. This allows us to see what factors of our marketing methods relate to each other’s. Exploring relationship between different trending outlooks and creates a foundation for testing causality. Here, there is some example of how a regression analysis can be used for marketing purposes:
  • Analyse if Social Engagement relates to views.
  • Discover whether E-mail Response Rates relate to Conversions.
  • Learn whether Page owner relates to Organic Page views.
image

5.DECISION MAKING

“When the drum beat comes to an end, you shall not hear the drum beat again, but you shall remember how it sounded, and you shall understand clearly how you should or should not have danced to the drum beat” ― Ernest Agyemang Yeboah The success of all the struggle by collecting , marketing and analyzing the data is depending on what decisions are made after all that. As a matter of fact, the most important decisions you need to make about social media can be done through analytics and data. You can make better decisions after knowing what to do and when to do using Social Media Analytics.

6.CASE STUDIES

  • BARCLAY’S: BARCLAY'S Launched a application of mobile banking called PingIt. In the following days of the launch, Company made notable changes with the help of real-time social media analysis to the application. The sentiment analysis provides that while the app was very well received, a small sector of feedback were negative. It was clearly visible that many users were not happy that the app didn’t work for the age group of under 18’s. It wasn’t only teenagers that were not satisfied, but also guardian's that couldn’t send money to them. This could easily become a PR disaster, but the data information allowed Barclays to act rapidly. Within the week, access was given to the teenagers of the app, showing that Barclays were responsive to the feedback of the customers.
    • image
  • ROXY THEATER: In West Hollywood ROXY THEATER, located in California where Bruce Springstein, The Clash and Bob Marley, among others, had performed. The software that was used is TweetReach to calculate the number of people and their tweet reach and the quality of the tweets and number of tweets. They also used Klout, which allowed them to compare their efforts to similar businesses. They used the numbers in a TweetReach report to demonstrate to a talent buyer that they could reach a larger potential audience through Twitter so they could stop advertising in certain local publications. AOL City’s Best just named The Roxy as the best live music venue in Los Angeles. They just passed 100,000 Facebook followers and have nearly 50,000 Twitter followers.

7.CONCLUSION

As the Social Media presence grows, the amount of data provided by social media platforms like Facebook, twitter, Instagram and snapchat etc. led to the explosion of extracting the data and use it to organization’s advantage. This article mention almost all sections of Social Media Analytics from the collection of data , marketing, social media scraping , data cleaning and sentiment analysis and decision making. It concludes that Social Media Analytics is going to be a big thing in terms of marketing the products to the specific audience which can lead to increase sales and less wastage of money. But there’s always two sides of a coin. Social Media Analytics can be misused to manipulate the people for personal interest of an company or an individual as we mention above about the role of social media in US presidential elections are still under scrutiny. While sharing data on social media, a user has to be careful, use proper privacy settings if required and be alert about the content being shared.

8.REFERENCES

[1]https://zephoria.com/top-15-valuable-facebook-statistics/
[2]http://www.sproutsocial.com
[3]http://www.forbusiness.snapchat.com
[4]http://www.barnraisers.llc.com
[5]http://www.oktopost.com/blog/social-media-data
[6]http://en.wikipedia.org/wiki/survey_data_collection
[7]http://sproutsocial.com/insight/social-media-analytics-tools/
[8]http://www.researchoptimus.com/article/social-media-trends.php

Copyright © 2019, JIMS