Social Media Analytics: The Next ‘Poster Boy’ of TV and Entertainment Industry

As a social media enthusiast, I am impressed by the number of TV shows that have active social pages on Facebook, Twitter, and YouTube etc.

Yet, I believe that the entrainment industry still has a lot to learn from social, especially from social media analytics. That said, I can’t deny that I pleasantly surprised by RTL Nederland’s successful use of social analytics.

This Dutch multimedia and entertainment company has successfully and very, very effectively used Predictive and Sentiment Analytics for market research, program formatting and ideation, improving the quality of current shows and most of all, incorporating audience feedback into their shows and give them customized content.

For their two popular shows, So You Think You Can Dance (SYTYCD, Dutch version), a dance reality show and X Factor, a singing reality show, RTL collaborated with InSites Consulting^*, a market research agency to monitor and measure the two shows’ audiences’ comments on the social media.

Here’s what RTL Nederland achieved from social media analytics –

      a)    Improve decision making and market understanding:

Found out which topics (relating to the two shows) created the most buzz.

      b)    Analyze positive, negative or neutral sentiments:

Sentiment Analysis measured the viewers’ thoughts after the show and found that there always was an increase in the positive buzz – a clear indication that the show was hit.

      c)  Measure audience attitudes and quickly adapt the show accordingly:

When it was found that a certain contestant on SYTYCD generated no vibe at all, the show’s programmers went on to give the said contestant a complete style makeover. This new development instantly became the ‘talk of the social’ and generated much positive sentiments.

   

       d)   Understand customer needs and preferences:

 Learning that the songs and themes in X- Factor were much talked about, the show’s programmers increased their audience involvement during the finals week. They let their audiences to pick the songs that the finalists would sing in the finals.

So you see, social media analytics empowers broadcasting and entertainment businesses to effectively tap into their audiences’ psyche, and with razor sharp precision ascertain what they expect from new shows and how they want their existing favourite shows to progress.

 

As Emilie van dan Berge, RTL Nederland’s Senior Research and Intelligence Project Leader puts it, by listening to our viewers, we give the power to contribute to the creative process – helping us produce better, more compelling television for our audiences.

If you are a TV production house aiming to explore and exploit the power of social media analytics, then write to us at info@shoutanalytics.com.

Social Media Analytics – Why Do Businesses Need It?

I came across a Forrester research article which posed a critical question about the difference between social media analytics and social network analysis. Further, this article specifically went on to explain the essential features of social media analytics tools.

To quote the author, James Kobielus, “Social media analytics refers to BI tools – reporting, dashboarding, visualization, search, event-driven alerting, text mining etc. applied to information sourced from social media such as Twitter and Facebook”.

What particularly interested me in Kobielus’ explanation was the fact that he mentioned BI as an essential effect of good social media analytics. We, at Nuvento Systems are constantly working towards improving and enhancing the BI experience for businesses. Our product, Shout Analytics is a modern; cutting–edge social media analytics tool that allows businesses to glean valuable BI through social media.

Volatile global markets and rickety economies mean that businesses now have to pull themselves ahead of their competitors to stay buoyant in their industry. And to them to achieve this, they must don their thinking hats to decide and strategize the road to unfaltering business success. It is in this scenario that BI plays a crucial role. And ever since social media has revolutionized the way business is conducted, it is extremely important for organizations to have that extra edge in the form of BI capabilities.

Shout Analytics facilitates BI through careful listening, active engagement, focused monitoring, precise measurement and tops it with comprehensive analysis of a business’s social media efforts. The rich information laden analysis equips organizations with actionable insights which in turn facilitate organizations to make informed performance/profits affecting business decisions.

These are precisely the characteristics that even Kobielus points out in his article. He says, “The key application of social media analytics is listening to and engaging with customers, and prospects”.

To learn more about Shout Analytics or to find out how we can help your businesses BI needs, write to us at info@shoutanalytics.com

Effective Customer Analysis Using Social Media Analysis Tools

We, as heads of businesses, acknowledge the fact that our consumers or customers are the real drivers of our success. A high rate of customer satisfaction is vital for the success of our brands/ products and services. And with increased use of the social media, consumers today have an online presence more than ever before and they use the social channels to make purchases, get feedback on a product, review services etc. In other words, a customer’s purchase decision – something that’s so important for our businesses – is now radically influenced by the social media.

In fact, an article by Karthik Sharma in CIO.in, summarizing a Gartner report, points out that social media is “the most compelling example of how consumerism drives enterprise IT practices.” Of course we realize this, don’t we? That’s why we specially invest in innovative social media strategies and devise social media campaigns. But, while there is no denying that social engagement will take us one step closer to our customers, we still lack in important information relating to the customer’s emotional, social and demographic state, the knowledge of which is so critical to making business decisions in the future.

I believe that organizations can do better business when they productively harness the social data surrounding their brands and products or services. Investing considerable time and effort to analyze and uncover insightful revelations about customers – both existing and potential – can prove extremely useful for your business success. The insightful data gathered from customer analysis can be used to propel superior product development plans, customer relationship management and marketing strategies.

Serving organizations in this end are efficient and highly competitive social media analytics tools which facilitate effective customer analysis using which marketing and customer relationship department heads can:

·         Understand trends in their customers’ purchase habits.

·         Know their customers’ sentiments and attitudes.

·         Identify their brand advocates and key influencers.

·         Monitor and measure their brand reputation and share of voice.

The above insights will assist organizations to:

·         Develop and design specific products that will meet customer requirements.

·         Design accurately targeted marketing campaigns.

·          Foresee negative reaction to products or promotional campaigns

·    Identify causes of customer dissatisfaction and chart strategies for resolving these issues.

Shout Analytics is one such high-end Social Media Analytics platform that enables organizations to perform an effective, efficient and insightful customer analysis for leveraging their business.

To know more about Shout Analytics, contact us at info@shoutanalytics.com

Social Media Analytics Tools Helps Derive Actionable Insights from Big Data

If your organization is grappling with big data, unable to find necessary insights from it, then maybe it’s time to invest in a Social Media Analytics (SMA) tool.

We all know that today’s technology is changing the way organizations conduct their businesses. Thanks to social media channels, smart phones, mobile applications and increased access to the internet, customers today are using technology like never before. They use the internet to make purchases. They buy products based on recommendations from friends. They do not hesitate to “thumbs down” brands if they do not like it.

For businesses, this means that every day, their customers generate scores of data on the web. The retail giant, Walmart deals with more than a million transactional data every hour and imports it into data bases estimated to contain a whopping 2.5 petabytes of data (2.5 quadrillion bytes)! Surely, most, if not all, of this mammoth data trove contains rich insightful information; waiting to be harnessed into decisive actions.

We all know and understand the importance of big data and recognize the immense promise it holds for leveraging our business. But a recent Report by Neolane and Direct Marketing Association revealed that most organizations are still ill-equipped to handle big data. In my opinion, the one crucial thing, that organizations overlook when trying to handle big data is social data analytics.

Data analytics simplifies and analyzes customer insights gathered in the organization’s social data chest and also synthesizes detailed reports that provide key actionable insights to the organizations. Our product, 

Shout Analytics is an advanced social media monitoring and analyzing platform that is well equipped to handle the hassles of big data.

So you see, the key to a successful social media strategy lies in picking the right analytics tool. Sign up for a demo and see what Shout Analytics can do for your business.