Word of mouth is one of the powerful ways of advertising. The only thing you have to do is to make trust of your users and audience so they will automatically recommend your services and products to others. People are widely using Twitter, Facebook, LinkedIn and other platforms in order to create engagement in your business space. Open source social media analytic tools can assist you to know how healthy your social media advertising and marketing strategies and efforts are compensating and identify the particular areas that need improvement to enhance business.
What Is Open Source?
There are several tools available in order to manage social media, but still managing social media is somewhat a difficult task for the marketers. Marketers don’t know how to manage driving outcomes of the business with the help of social media, they can simply strengthen their social media efforts with open source social media which facilities marketer’s to easily manage their website in order to create engagement with customers and friends in an efficient way.
Why open source?
Open source harnesses the influence of scattered transparency and peers review of the method in order to develop code that is released and accessible under an open source, that offers noteworthy benefits when compared to distinctive commercial products. It is a revolution in a business this is why the business organizations getting into open source and there are many such companies which get succeeded by using open source social media. Let us go into detail about some of the organizations that are using open source social media as their vital business strategies.
Growth of open source
As per the recent study, investment in open source increased gradually as shown below:
- 88% of the costs can be reduced
- 93% of the quality can be improved
- Ease in customization and integration by 83%
- It can enhance the support by 85%
- 92% of standard compliance can achieve
Successful Organizations That Have Been Using open source social media:
Ford Motor Company
Ford has brought open source social media experience in order to enhance their marketing efforts. They used to add latest blog post followed by image, headline, of the particular post and they also have a comment box for the users on their landing page of their site. So the people who are browsing for the new car or those are new to site get to influence company and is services from social media. Thus, ford enhanced its customer’s engagement with the help opens source social media.
Martell Home Builders
Martell is an Atlantic home builder trusted heavily on the open source social media to retain their business moving ahead. With the involvement of HubSpot- open source social media, they can able to directly engage with their customers which avoid the need to depend on the middle man to bring them, customers.
They stated, they’re creating their own content and also blogging strategy to get in touch with home buyers and to fulfil their needs. Thus, they successfully grab the attention of many home buyers and they succeeded in getting 87% of their leads originated directly from their customers.
This is apt and finest example of using open source social media which experienced huge success in online marketing. With the assistance of SocioBoard– An Open Source Technology, it extended their wings through social media marketing which has successfully achieved nearly 85% of online customers and stood one among the top most restaurants in the California.
What is Social Media Analytics?
Social media analytics can be defined as the process of interpreting interactions, measuring, assertions between people, analyzing, ideas and topic in the social media space. It generally starts with collecting the required information from various social media sites which is followed by pulling out the data in order to enhance customer experience and business decisions which include trend recognition, brand monitoring, targeted advertising etc.
Importance of Social Media Analytics
With the assistance of social media analytics, you can develop the most profound comprehension of how people are associating with your brand furthermore you can know how they utilize and get to your site.
Social media Analytics help you take in more about your clients. The more data you can gather about them, the better position you will be the suspect and serve their necessities – whether it’s giving them data they are looking for, noting an inquiry, offering service and product alternatives or helping them to finish a task on the web.
The advantages of social investigation include
- More focused content and posts
- Saving money on promoting and marketing
- New enhanced content advertising methodology
- The capacity to offer upgraded client service
- The ability to comprehend the ROI for your interest in social media.
Measure Your Social Media ROI Using Social Media Analytics
Social Media ROI
Return on investment can be simply defined as the measure of performance which can be applied to any kind of investment. In order to calculate the ROI, you should divide the return on investment by its cost which results in ratio or percentage.
Social media ROI = (Social media return – social media investment) / social media investment percent.
While measuring the social media ROI, you should calculate for every channel separately which allows you to find out which platforms your particular campaigns are performing well and also allows you to know which are not performing well.
Here are the ways to measure ROI using social media analytics
Fix Social Media Objectives
ROI can be simply measured in various ways: through lead generation, customer acquisition, clicks, contest entries, revenue, etc. It all depends on your goals. Before you can measure and track your ROI, you have to decide your objectives so you know which components you’re measuring and what achievement it resembles.
Define the Right Platforms
Your online networking objectives and coming about techniques must adjust to your stages. Some fan bases are principally on Twitter, others on Pinterest, Facebook, or Instagram. Find where your group of people invests their energy so you can position your arrangement to be effective.
You need track cost of ads, time spent, etc. as well as activities and campaigns launched by you as a portion your social media marketing. You can use various tools that are available in order to do this.
Get to know: The Difference Between Social Media Monitoring And Social Media Analytics => Read Now
Measuring the social media ROI with open source social media analytics is the better thought to know the execution of the social media promoting your business. Using the open source social media tools will give you a sensible vision of what you have fulfilled on the social networking and what you need to accomplish more. Thus, other than dealing with your social media, you should concentrate on checking them through the analytics. Along these lines, the best thing you can do is using tools that upkeep you for both social media management and analytics.Tags: importance of social media, social media analytics, social media monitoring