February 24th, 2012 by Mathias Buerk
Today we are pleased to have Henrik von Scheel (@von_scheel) answering our Friday5. Henrik is member of Board of Directors at ethority. Furthermore he is Advisory Board Member at Google (EMEA), as well as Managing Partner and Senior Vice President for Venture Capital at 3i Capital Group. Prior to this he was a board member at IBM Venture Capital Group and responsible for the development of strategic partnerships and potential markets. Additionally, Henrik von Scheel was visiting lecturer at the Copenhagen Business School. He also was book co-author of “Applying Real-World BPM in an SAP Environment”.
With more than 15 years of experience, Henrik von Scheel has led the reorganization of strategies, processes and technologies of various Fortune 500 companies. Henrik is recognized for his professional leadership in e-commerce and social commerce, as a trend spotter, author, event speaker and investor.
1. Which recent 5 numbers in social media impressed you most?
#1. The increased importance of making sense out of social media data as “Big Data” is a big market and big business with $50 Billion by 2017.
# 2. 63%: percentage of CMOs that said ROI will be the standard for performance by 2015 and less than 50% of all businesses measure ROI.
# 3. +27 Social Media monitoring tools acquisitions in 2011. What will happen this year?
# 4. 2012 Social media monitoring benchmark rates ethority #1 out of 26 leading global providers.
#5. 10 Mio: Pinterest the fastest standalone social media platform to reach 10 mio.
2. Social Media Trends – which is the next big thing in your opinion?
In my opinion there are two key trends within social media intelligence. First the ability to link social media data to online sales to measure the ROI, optimize the performance thereof and add predictive analytics to forecast your sales. Second, the four new forces in the new consumer centric business model that re-established the balance between new marketing funnel and consumer empowerment.
3. Social Commerce on facebook – pro or con?
I remember when eCommerce and social media monitoring was doomed dead before it really got started. Now with Social Commerce it is the same, there is only a pro, with more than 1 billion people or >70% of internet population on facebook it is a consumer platform that shouldn´t be ignored. It’s simple, participate and reap the fruits of the first mover advantage or wait a couple of years and join once a best practice.
4. The new timeline on facebook – better or worse than before?
Short and simple – I love it
5. Will mobile use change social media?
It already has: 38% of internet users have a smart phone. They are more intensive users of social networks than people without a smartphone. On average, people install 25 apps on their smartphone, but only use 12. Most used apps are social network apps.
February 21st, 2012 by Sten Franke
ROI measurement will soon be crucial to any social media marketing strategy and analysis. In my opinion, the most recent study conducted by King Fish Media leads only to this conclusion.
The marketing agency King Fish Media found that, up to now not even half of all businesses measure the ROI of their Social Media campaigns, although for long there are already Social Media Intelligence or Monitoring tools which can easily analyze Return on Investment – like ethority’s gridmaster. In addition to these tools, the free ethority Social Media ROI Calculator may be used.
A third of the businesses that have calculated the ROI of their campaigns stated that their measures have had the expected impact. For 13 percent the results even exceeded all expectations.
Now, these businesses are particularly interesting because they are the future. Analysts of King Fish Media revealed that 29% of the surveyed companies need to show a positive ROI to receive their Social Media Budget next year.
The most important findings of the study were:
1. Social Media ROI tracking will become much more relevant in the future because half of the surveyed companies still do not conduct ROI analyses.
2. It can be predicted, however, that more than the current 29 percent need to develop an appropriate ROI to be able to plan with respective budgets for future campaigns.
3. The time of social media success being determined only by the number of fans, friends or followers or by rule of thumb will pass.
And this is just as well, because everybody profits from a reasonable ROI measurement strategy and analysis: Users, because campaigns are specially tailored to their needs, and businesses, because they can use their budget more efficiently.
February 17th, 2012 by Mathias Buerk
A SOMEMO study revealed lately which criteria varying Social Media Monitoring tools fulfill. It turned out that “ethority‘s gridmaster offers nearly all this evaluation framework considers. The only limitation is that image-data of photos or video files are not analyzed, which none of the vendors offers at the moment.” Out of 26 global Social Media Monitoring providers ethority scored highest although offering an average price.
Further conclusions that can be drawn out of this analysis are that free basic listening tools do not offer an appropriate quality of Social Media Monitoring. The user has to do a lot of data analysis by himself. In case you want a professional solution, you have to get a professional tool. The overview of the results of the analysis is to be found here. Decide what you want, and who you want to do it.