News

The Report is Dead

As Mark blogged earlier today, the report is dead. Luckily for all those data-hungry people out there, startups have the answer (unsurprisingly). One of the luxuries of being a startup is having the flexibility to evolve and respond quickly to a brand’s problem. By having a small team and flexible hours, startups are able to tackle a problem head on and create an enhanced, bespoke service for those who require it.  Alexandra Dinsdale from Unilever mentioned this issue in our interview with her last week, emphasising just how important this ability can be to large businesses. This matter is also something Avin Wong from WhichSocial has experienced this week. During a recent meeting with one of his large clients, he created a solution to a pain-point they were experiencing  which is actually exceedingly common amongst online retailers. The problem is what to do with the large amounts of online data that is being collected from sources liked Google Analytics.  All the facts and figures are there, but brands are struggling to know what action to take. Another issue is when to consult this data;  if you are only checking it weekly, or even monthly, how can you possibly react fast enough to the results you are seeing? Monthly reports seem to hail back to an era we are rapidly zooming away from, as right now data needs to be relevant, recent, and responsive. The alternative to way to accurately measure your ROI on social media is actually very simple. WhichSocial provide real time alerts with actionable insights. That sounds like a lot of buzzwords, so let’s break it down.

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News

The Debate is Over: In Retail, Social Media Generates Sales

A recent Huffington Post article declared that even asking whether social media marketing creates ROI "shows a complete lack of understanding of the communication revolution which we are experiencing." The real issue at hand today is measuring the social conversation occurring to be able to accurately decide which ones are working best for your brand. Gaining a large online following is one issue, but seeing a return of investment (or 'return of sharing') is another matter, and much harder to measure. Google Analytics offers statistics regarding page views and bounce rate, but it fails to measure influences, organic sharing, and which products that do best on which social media site. One of our startups, WhichSocial, has been designed to solve this exact problem. The software is currently being used by a large internet fashion group who have been witnessing a very positive result. Recently they posted an item on their Facebook page (which has over 70,000 likes) and sales were generated immediately.

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