Social Media Strategies
April 9, 2013
Social media is not just for personal use anymore it has expanded into the business world. The Expert System Cogito Blog piece “Understanding the Strategic Value of Social Media Analysis” talks about how many companies are selling themselves short when it comes to using social media.
“I have often said that companies are missing out on the real value of social media analysis. More often than not, even the big players don’t have the processes or models in place to really make use of the data gained from the analysis. As a result, social media analysis has a limited impact on the business, not to mention the budgets assigned to such projects.”
However, despite the usual oversights the author talks about a recent encounter with the head of customer experience at a well-known bank. They were going to discuss the tools they would need to support social media analysis but instead of going through the usual song and dance the manager was actually prepared to discuss exactly what they needed from them. Even more surprising the customer was actually able to provide specific examples of quantitative as well as qualitative data that she wanted to be able to extract from the streams of data. This made it easier to talk about semantics and how it can bring value to their company. Strategies such as focusing on extracting relationships between monitored entities and relieving some of the social media noise through deep analysis and contextualization can help to improve product visibility as well as market trends. The author ends by nothing that they are sure that they haven’t seen the last of their “usual pitch” because many organizations do not have a clear and concise strategy when it comes to social media projects. However, as the trend changes and more and more companies are realizing the importance of social media semantic technology vendors better strike fast and learn how to “grab the bull by its horns.”
April Holmes, April 09, 2013
Sponsored by ArnoldIT.com, developer of Augmentext
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