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Report reveals widening gap in marketers' social media measurement skills - BizReport

Report reveals widening gap in marketers' social media measurement skills - BizReport | The MarTech Digest | Scoop.it
  • The report from Immediate Future (IF), 'What Has Social Media Ever Done for Us?', found that more than half (58%) of B2B marketers describe their ability to measure social media between 'average' and 'very poor'.
  • Most marketers (82%) said they were comfortable tracking website traffic data resulting from social marketing, and 65% said the same of content downloads. However, the struggles begin when tracking softer metrics such as email opens and website conversions. Yet, it is these metrics that are needed in the boardroom.
CYDigital's insight:

Don't be that guy. Plenty of tools available to measure.

 

Visualize your Marketing Stack. marketingIO will analyze your marketing technology and deliver a visual of your MarTech Stack. Free. Go here: http://go.marketingio.com/stack_analysis 

 

#MarTech #DigitalMarketing

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5 useful Social Media Analysis tools - Smart Insights

5 useful Social Media Analysis tools - Smart Insights | The MarTech Digest | Scoop.it
CYDigital's insight:

Links, descriptions and costs when you CT.

 

Visualize your Marketing Stack. marketingIO will analyze your marketing technology and deliver a visual of your MarTech Stack. Free. Go here: http://go.marketingio.com/stack_analysis 

 

marketingIO: MarTech for B2B Marketers. Strategy, Software, Services, Support, Staffing.  Go here to submit RFQs: http://www.marketingio.com #MarTech #DigitalMarketing

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3 Instagram Analytics Tools for Marketers : Social Media Examiner

3 Instagram Analytics Tools for Marketers : Social Media Examiner | The MarTech Digest | Scoop.it
#1: Simply Measured

Simply Measured advertises its analytics tool as being the “end-to-end analysis of all your social media networks,” and this includes Instagram. It can be a great tool for marketers. Simply Measured offers a variety of reports and analyses, some of which are free and some are available only with a paid plan.

#2: Iconosquare

Iconosquare’s analytics allow you to track important metrics like follower growth and losses, best times to post for maximum engagement, engagement rates, and engagement growth. It also shows your best performing content, both in terms of likes and comments.

#3: Sprout Social

Sprout Social is a popular tool that many businesses already use, and it offers detailed reporting on a profile’s Instagram activity. You can find analytics under the Reports section. You can see detailed information on daily growth in followers (and how much that number increased or decreased in the past month), the number of posts you’re sharing, your most used hashtags, your most engaged hashtags, and the number of engagements (both in total and the rate of engagement per medium).
CYDigital's insight:

More details to each when you CT.

 

marketingIO: One Source for All Marketing Technology Challenges. See our solutions.  

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A Successful Case Of Positive Social Marketing ROI - Forrester

A Successful Case Of Positive Social Marketing ROI - Forrester | The MarTech Digest | Scoop.it

"Spring established a dedicated social media department in the fall of 2010; since then, the team has continued to grow quickly and generate positive ROI. Spring's success in social media and digital business are due to it:

  • Aligning social marketing with business outcomes. Spring set detailed, business-relevant key performance indicators (KPIs) for its social marketing initiatives. It set clear business goals for each key target audience group and coupled them with a measurement system that also aligns with business outcomes.
  • Leveraging cross-organizational collaboration to maximize social marketing results. Social marketing is more likely to affect business outcomes when the marketing team works closely with other departments across the firm. Spring Airlines' flat organization and tight cross-organizational collaboration has accelerated its social business success."


marketingIO: One Source for All Marketing Technology Challenges. See our solutions.

CYDigital's insight:

Excellent approach! You'll want to click through to review.

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Deciphering Your Most Valuable Social Network With Google Analytics - GetResponse Blog

Deciphering Your Most Valuable Social Network With Google Analytics - GetResponse Blog | The MarTech Digest | Scoop.it
Deciphering which of our social networks is the most valuable to us is not actually as straightforward as it might appear at first glance. For instance, those bright and engaged Facebook fans might not be converting in the large numbers that you’d like them to – but the conversations that you are engaged with and the rapport that you have nourished and nurtured over time is extremely valuable to the way that your brand is perceived online.

The trick with Google is to break your various tasks down into manageable chunks. In this case you’re trying to answer a very particular question – ‘Which is my most valuable social network?’

To answer this, you will need to ask yourself (or rather Google) a few more questions, and then access the particular reports that will furnish you with the answers. Here’s what to ask and where to look…


From MarTech 101 to Advanced Techniques, marketingIO has you covered. 

CYDigital's insight:

Rather easy to follow and setup.

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How to Calculate Social Media ROI: A Delightfully Short Guide - Buffer

How to Calculate Social Media ROI: A Delightfully Short Guide - Buffer | The MarTech Digest | Scoop.it

Dark marketing clouds ahead? Let us help you see clearly. Contact us.

CYDigital's insight:

And the article includes a simple approach to calculating social media ROI. However, any ROI measurement not connected to business objectives is questionable.

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Five tips for picking the right social analytics tool - Econsultancy

Five tips for picking the right social analytics tool - Econsultancy | The MarTech Digest | Scoop.it

► About Us: iNeoMarketing provides Marketing Technology services, applications and support to B2B companies who do not have the required resources, knowledge or expertise. Visit us at ineomarketing.com. ◄

CYDigital's insight:

And these are 5 rules applicable to ANY MarTech purchase. Kudos to #1! You can find the original post here.

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Kimmon Candice Swart's curator insight, February 19, 2015 5:52 AM

Every Business owner online should be using analytics, how else will you measure your social ROI?

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Focus Social Marketing On Clear Business Outcomes - Forrester

Focus Social Marketing On Clear Business Outcomes - Forrester | The MarTech Digest | Scoop.it
Invest in social marketing based on clear business outcomes. Many Asia Pacific marketers are still allocating media budgets based on user consumption of media — or worse, on how budgets were allocated in previous years. But this model is obsolete, thanks to new methods of accessing data and harnessing technology. Marketers must be able to answer which specific social activities drive specific business outcomes and boldly reallocate marketing investments based on these. For instance, marketers must show how their Facebook strategy has driven fans to their eCommerce site and helped stimulate them to complete a sale.


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CYDigital's insight:

I see this over and over and over: tying social activities...AND SPENDING...to business metrics. The sword of Damocles hangs over your head otherwise.

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The No. 1 Social Media Mistake You're Making (and Four Ways to Fix It) - Profs

The No. 1 Social Media Mistake You're Making (and Four Ways to Fix It) - Profs | The MarTech Digest | Scoop.it

Digest...


Only 1 in 3 marketers can measure the ROI of their social media efforts, according to Social Media Examiner. In other words, most businesses have no idea whether their social strategy is even working.


Here are four ways to tackle your social efforts with a results-driven approach.

1. Set tangible goals

2. Put your results in context

3. Measure down to the dollar

4. Let results be your guide

Your social strategy should never be set in stone; it should be fluid and improved upon continually. But to be able to improve, you have to have insight into what's working and what isn't.

 

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CYDigital's insight:

Let's cut to the chase: tie social activities to business metrics. If you can't do that, then what good is it to your company?

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Ann Windham's curator insight, January 9, 2015 4:17 PM

#eventprofs #meetingprofs #IAEE #MPI #TSTS Trade Show Tech Summit- 2015 Socail Media Kick Start

 

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[FREE eBook] The Complete Guide to Twitter Measurement - Simply Measured

[FREE eBook] The Complete Guide to Twitter Measurement - Simply Measured | The MarTech Digest | Scoop.it
Twitter is a network built for speed and marketers can have a hard time keeping up with the changes. Our second edition Twitter eBook delivers the most current metrics and tactics for analyzing your brand's activity. Learn what's changed and how to keep your Twitter strategy ahead of the curve.

Download this eBook to get:

An up-to-date glossary of Twitter metrics and what they *really* mean
Tips for measuring Twitter's new definition of engagement
How to fully analyze your brand's activity and influence on Twitter
CYDigital's insight:

Behind a quick registration form. 

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Social Media Intelligence 2015 | SiriusDecisions

Social Media Intelligence 2015 | SiriusDecisions | The MarTech Digest | Scoop.it

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CYDigital's insight:

5% can articulate the business value of social execution. Enuf said.

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2 Easy Ways to Start Tracking Social Media with Google Analytics - OMI Blog

2 Easy Ways to Start Tracking Social Media with Google Analytics - OMI Blog | The MarTech Digest | Scoop.it
The versatility and customization available through Google Analytics is well worth the effort of learning how to use this set of tools for social tracking.


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CYDigital's insight:

The insight won't exactly set your hair on fire, but it's a basic should you not be using a social media measurement tool.

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donhornsby's curator insight, December 23, 2014 8:47 AM

If you’re already using Google Analytics, I don’t need to tell you that there are many, many more ways to use this free service to track your efforts and refine your strategy. From A/B testing ad buys to focusing the content you share, these tools are more specific, customizable and ultimately useful than the built-in insights you get from Facebook and other platforms. Use both together to get a big picture and close up look at your social media efforts and their results. - See more at: http://www.onlinemarketinginstitute.org/blog/2014/12/2-easy-ways-to-start-tracking-social-media-with-google-analytics/#sthash.Tde6nlQp.dpuf

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Why I Use Hootsuite for B2C and Oktopost for B2B [Infographic] - B2B Infographic

Why I Use Hootsuite for B2C and Oktopost for B2B [Infographic] - B2B Infographic | The MarTech Digest | Scoop.it

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Want More Social Marketing Budget? Stop Measuring Social Engagement - Forrester

Want More Social Marketing Budget? Stop Measuring Social Engagement - Forrester | The MarTech Digest | Scoop.it
So why do social marketers still focus on engagement data? Because it’s easy to collect. But it’s simply the wrong data. That’s why CMOs and other senior marketers rarely ask us about engagement — instead, it’s mostly social marketing strategists and digital marketing directors who want to track these metrics.

If you’re a social marketer and you want to impress your boss — and get more funding for your efforts — then it’s time to stop measuring social engagement. Instead, bring your CMO reports from sales tracking vendors, platforms that collect data into customer databases, and survey tools. You’ll be speaking their language, and your budget will benefit.


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CYDigital's insight:

Damn right. Tie your social budget to business metrics. Do that, and the door is open for you.

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[FREE] Report: What Social Media Analytics Can't Tell You About Your Customers - Vision Critical

[FREE] Report: What Social Media Analytics Can't Tell You About Your Customers - Vision Critical | The MarTech Digest | Scoop.it
In their efforts to become more customer-centric, companies increasingly are relying on the big data they collect from social media analytics tools to help them understand customer behavior. However, if you're using social media analytics to guide your social, marketing, and overall business strategies, you face a very real risk of misreading your customers.

We’ve discovered that 30% of social media users account for 90% of social media updates. More importantly, the buying behavior of this slice of enthusiastic users differs in important ways from the rest of their customer base.


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CYDigital's insight:

It's behind a registration wall. May be worthwhile as you fine tune your social media analytics (or put into place).

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ROI of Social Media - SociallyStack

ROI of Social Media - SociallyStack | The MarTech Digest | Scoop.it
ROI of Social Media


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Ryan Somlai's curator insight, December 10, 2014 6:59 AM

This article was very data and number based, but I found some of the data compiled to be very interesting. Some of the more interesting facts relating to social media is that 74% of CMOs believe they'll tie social media to hard ROI this year, 76% of businesses are using social media for business objectives. Another interesting fact is that Facebook is the most valuable social media platform in terms of ROI, but most companies are actually looking to increase their Youtube social media marketing in the next year. 

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How do we measure the value of social media? - Helge Tennø


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↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑↑

 

CYDigital's insight:

If you have zero time, then skip straight to slide 41. Otherwise, soak this in.

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One Social Metric That Actually Means Something - Martin Kihn, Gartner

One Social Metric That Actually Means Something - Martin Kihn, Gartner | The MarTech Digest | Scoop.it

Digest...


There is one social metric that may have some relationship to business goals. Yes, I said it. Whether it is causative or diagnostic — that is, whether social marketing inspires the business benefit or is a symptom of another cause, — that’s more than we can answer.

 

Engagement

 

Engagement is the ratio of reactions to total posts — i.e., how many things people did (like, share, comment, retweet) divided by how many posts were out there. It’s a proxy for how much active attention people paid to the conversation about you. They key concept here is active.

 

-- >  Make a good product or service and your business will probably do well, no matter how good or bad you are at social marketing

-- >  If you’re going to do some social marketing, make sure it’s something people engage with

 


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CYDigital's insight:

But it's still not a direct tie to business metrics. Nice try.

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Hootsuite: 58% of businesses struggle to use social value to improve company revenue - The Drum

Hootsuite: 58% of businesses struggle to use social value to improve company revenue - The Drum | The MarTech Digest | Scoop.it
Almost 60 per cent of businesses struggle to determine how social media value can make a difference to company revenue, according to a new study by Hootsuite.

Less than half (40 per cent) of these organisations said they were using data gained from social media to improve their bottom line, while 60 per cent stated they were challenged to find actionable use for data collected.

The report also found that social media is becoming more widespread across all departments, yet departments are not always working together.

Nearly three in four respondents (72 per cent) agreed that the number of departments using social media is growing, while a majority (64 per cent) of respondents whose social media strategy is at least somewhat aligned, stated that aligning strategy across departments was difficult.


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CYDigital's insight:

More evidence that social media has yet to be connected with business metrics. See the Gartner article earlier this week.

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Liza Viana's curator insight, October 28, 2014 10:07 PM

Most companies agree that social data can improve their bottom line, but turning that data into something actionable can be a challenge. How does your company best use its social data?

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Is Social Marketing Actually a Grand Illusion? - Gartner

Is Social Marketing Actually a Grand Illusion? - Gartner | The MarTech Digest | Scoop.it

Digest...


Gartner used a social listening tool called Tracx to collect and analyze public conversations about a select list of companies, on popular social channels such as Facebook and Twitter and blogs. The targets we chose were leading digital marketing or ad tech related software companies or digital marketing agencies. There were 28 of them. This is what we found:


There was no observable correlation between social marketing volume and business success for digital marketing software and services companies. [The author] cannot find any obvious correlation between social marketing volume and product quality, company value, profitability, or anything really except — well — social marketing volume.


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CYDigital's insight:

It's not the end-all study that disproves a link between business metrics and social (excluding social advertising), but its the first time I've seen a study of any kind that measure the direct linkage.

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How To Measure Social Media Marketing - Prestige Marketing Blog

How To Measure Social Media Marketing - Prestige Marketing Blog | The MarTech Digest | Scoop.it

"The three following ideas to measure social return:

• Earned impressions are important; learn how to value them.

• Heed the advice of multiple stakeholders. Collaborate with clients and their research departments.

• Businesses need to do a better job of understanding their clients’ objectives and using social metrics to optimize their campaigns. Demonstrate business value by developing metrics that will be useful for their outreach efforts."


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CYDigital's insight:

Soft, soft and softer. Where is the connection to building revenue? And that's the core issue with social: the connection to revenue flow. Without that connector, it becomes another right brain activity run amok.

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Jessica Segreti's curator insight, October 28, 2014 10:40 AM

This article reflects on measuring social media marketing and how it is no longer a trend, but a central component in the industry.  According to a recent Social Media Examiner industry study, 92% of marketers feel as though social media is an integral element for their business.  This happens to be a 6% increase from this previous year at 86%.  Social marketing is positively correlated to business growth, indicating the benefits a business would see are without question.  This does not mean, however, that they are without complications.  Even with marketers investing in social media they have yet to be able to secure a 100% return on their investment.  In fact, 89% of respondents in the Social Media Examiner’s study noted they have a desire to be informed of the most effective approach and the best ways to engage their audience on social platforms.  The article proceeds to consider that internal metrics may be the key to social media marketing success.  For example, people’s perspective toward social media marketing is not likely to change anytime soon, and it is just as unlikely to see a negative change in advertising budgets for online network marketing in the upcoming years.  That being said, it is time for decision-makers to look at their return on investment from a different frame of mind.  In the past, online platforms have provided marketers with dashboards and other sets of tools to measure arbitrary metrics such as shares and likes, but these units of measurement are difficult to associate with bottom line revenue.  Thus, social media marketing ROI must come from within.  This is because the traditional metrics, though still effective, have proven to be taxing for marketers to utilize in the past.  The article summarizes by placing emphasis on the importance of the focus on metrics that are already available in the social space.  As stated, this can aid businesses in the optimization of their, or their clients’, campaigns.  If marketers wish to create a more personalized outreach effort, as well as an elevated lead generation strategy, marketers need to go a step further in their attempts to understand just how these figures apply to their own individual objectives.  Lead Generation campaigns are about causing genuine interest and responses where we measure success on your target audience initiating contact with you.  Its importance? Immeasurable.

Eric Levitas's curator insight, October 29, 2014 3:00 PM
92 percent of marketers feel social media is important for their business. Surprise! This business tactic is a huge revenue generator and growth tactic each business should utilize. More money must be spent internally to pursue a successful social media marketing campaign and budgets must include this new marketing tactic. Ultimately there are 3 ways to measure social return. The first is earned impressions. These are important and companies must learn how to value them. The next tool is the advice from stakeholders and learning to take these ideas and utilize them within their business model. The third and final measuring tool is the need to understand client objectives and using these objectives to do a better job and optimize their campaigns. Each of these measuring strategies will show the impact social media marketing has on a business and their marketing plan. How does this relate to me? Well, I am the customer these businesses are targeting. I am the target age, and demographic that sees these social media marketing campaigns. Personally, it is becoming the only way I interact with businesses anymore.
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How to Use the LinkedIn Data Export Tool to Improve Your Marketing | Social Media Examiner

How to Use the LinkedIn Data Export Tool to Improve Your Marketing | Social Media Examiner | The MarTech Digest | Scoop.it

Digest...


Why the LinkedIn Data Export Tool?

If you haven’t discovered the free LinkedIn Data Export tool or if you’ve found it but haven’t used it, you’re missing out.

 

The insights you can glean from your own behavior give you an important overview of how. If your clients will share their files with you, all the better.


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The Data Export tool is in your LinkedIn Privacy and Settings section. To find the Data Export tool and request an archive, follow these instructions:

1. Go to your Privacy and Settings section. It’s on the far right under the Account and Settings link (the tiny picture of you).

2. In your settings, click the Account tab on the bottom left side.

3. Click the link for Request an Archive of Your Data.

4. Click the Request Archive button.

 

According to LinkedIn, it takes 72 hours to get the link to your zipped archive, but the few times I’ve used the Data Export tool, I’ve received it within 24 hours.

CYDigital's insight:

And in the post, the author describes the 7 most important files to first look at. Typical CME post: full of important guidance.

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Five Reasons Your Social Analytics Are (Probably) All Wrong - Gartner

Five Reasons Your Social Analytics Are (Probably) All Wrong - Gartner | The MarTech Digest | Scoop.it

Digest...

 

They Include Only Public Posts — While we all feel we live in a world where “nothing is private,” in fact most of the internet is sitting behind some firewall or other and is not (legally) available for us to see. Social networks adhere to privacy policies and social listening tools are limited to interrogating public posts.

 

So They Way Overemphasize Twitter — On the other hand, there is one very popular social network that is almost entirely, fabulously, gloriously public — that is, Twitter. Which explains the pie chart above and has given Twitter what is in my humble opinion a vastly overinflated sense of its own place in the world.

 

Which May Be the Least Unbiased Channel —It’s a fast-twitch environment, given to rants reflecting states that rapidly pass. In short, it’s no focus group, people.

 

They Treat All Channels and Actions Equally — A tweet can be (and is, usually) dashed off between elevator rides, while a pin requires some thought, and even a Facebook post inspires us to pause and reflect. Social objects are not created equal. I’ve seen comments in blog posts that are like little essays, complete with footnotes. I’ve seen one-character tweets that make no sense at all. So have you.

 

Which Ignores Reality, Really —If a tweet is — on average — one-third as long as a Facebook post for your brand, then treat it accordingly: weight it 0.33X. If hitting “Like” takes about one-tenth as long as writing a comment, treat it accordingly: weight it 0.1X. (I favor the time-based principle of engagement here, with weights reflecting how long actions take, but there are other approaches.)

 

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CYDigital's insight:

A very sensible review of social media measurements. Perspective.

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The World of Social Media Monitoring and Analytics - Marketing Technology Blog

The World of Social Media Monitoring and Analytics - Marketing Technology Blog | The MarTech Digest | Scoop.it
The World of Social Media Monitoring and Analytics by Douglas Karr on Marketing Technology Blog


 

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Jackie Carter's curator insight, August 21, 2014 12:36 AM

11. Writer of this post, Douglas Karr provides an informative resource as a professional in the field of marketing. What I find unique about this resource is the use of info graphs. Info graphs are a non-complex way to convey data and statistics. Info graphs are presented in a way that is easy to read and understand. This article includes fascinating analytics revealing the growth and evolution of social media and the expected future trends for social media analytic tools. I have included this source in my curated list to provide a variety of resources linking to Online Social and Professional Networks.

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How to Measure ROI in Social Media [Infographic] - B2B Infographics

How to Measure ROI in Social Media [Infographic] - B2B Infographics | The MarTech Digest | Scoop.it

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Barbara M Fowler's curator insight, July 4, 2014 9:04 AM

This is an easily understood explanation of ROI