Social media analytics – and in particular social listening – can help companies in all industries shape and refine their communication strategy, whether they’re marketing movies, makeup or machinery. Today, social media has become a part and parcel of everyday life and it is not only for the high-end products that people turn to social media. Industries with low involvement products, for example, Umbrellas, Detergent Powder, Cooking oil, etc, also have people looking for reviews and reading them.
Social Listening can be useful for retailers to identify popular and unpopular products, for car manufacturers to find out what features customers are looking for, for travel companies to determine which locations are popular among which age groups…and so on. In short, tuning in to conversations that take place on social media is a highly effective way of optimizing communication and business strategy for all companies, regardless of the industry.
As we approach the end of the year, let’s take a look at the industries that will greatly benefit by focussing on Social Media Listening in 2018.
- Healthcare and Pharma Industry
Pharma and Healthcare brands need to keep tabs on consumer opinions around drugs, services, facilities and other products. The big brands rely on real-time feedback from consumers to deliver the best products, services, and care.
In 2018, with Social listening, Pharma companies could look ahead to –
· Faster & More Insightful Market Research.
· Address Customer Questions and Needs in Real Time
· Use Community Insights to Reinforce Purchase Behaviours
· Connect All Your Solutions to Find Deeper Insights
· Visualize, Monitor and Share the Information that
· Drive New Product Innovation with Social Entertainment Bollywood/Hollywood
- Entertainment Bollywood/Hollywood
Movies are big business, and big money is spent on trying to find a box office hit. Few industries see as much money pumped into individual projects as the movie industry and few industries see as much money lost on single ventures. This is why an increasing number of studios are using social media analytics to predict not just the box office success of movies, but how to go about marketing them.
Predicting whether or not a film is going to be a hit is an exceptionally imprecise science. However, as the market gets tighter and more competitive, and studios rely increasingly on their blockbusters to carry their less profitable films, they are looking at analytics to predict the box office success of a film.
The use of analytics is not just limited to Hollywood. The world’s biggest film industry, Bollywood, is also getting in on the act. IBM has applied analytics models to a number of Bollywood films, looking at social media to build what it calls a social sentiment index (SSI). SSI revealed a number of things about which films would be successful, including the high probability that films with a political bent would do well. By adopting such techniques, studios may even be able to get an idea of how successful a film will be from conception.
Examples of metrics used to evaluate how to communicate about a movie include web behaviour, users’ interactions with campaigns and, of course, organic mentions across social networks. Analyzing online conversations help studios refine their marketing strategy, thus boosting the ultimate success of movies.
The government is one body that could greatly benefit from Social Listening. Listening would help the government to detect any unauthorised or harmful activities. It could also help in connecting the government to the people. The government is already putting into place infrastructure requirements like manpower and technological needs for monitoring social media. It is aiming at keeping a hawk’s eye vigil on the social media to check if it is being “misused” to conspire against India and spread anti-national propaganda. The move assumes significance as there have been instances where terrorists were found to be using social media to conspire against the country or to propagate anti-India materials. There have also been instances where rumours spread on the social media had resulted in violence and tense situation in different parts of the country.
The misuse of social media is more challenging especially with reference to the situation in Jammu and Kashmir and the government earlier in the year discussed ways to finalise a policy to help intelligence agencies and security forces effectively deal with any propaganda.
Besides this, the ministry is also looking for the ways to reach out to people using social media in case of disaster or for public service delivery.
MOOCs (Massive Open Online Courses), are considered an opportunity to bridge the skills gap. With 87% of college students reporting that having access to data analytics regarding their academic performance has a positive impact on their learning experience, the role of analytics and therefore technology looks set to play a central role in the future of education. If tracking progress helps scholars learn better, efforts to improve and standardize data collection and drive better integration across different learning platforms/phases seems justified.
With the world used to interactive content nowadays, it seems likely that videos will become the new textbooks. Already, video is expected to make up for about 80% of all consumer Internet traffic by 2019 (up from 64% in 2014). Education today is no longer “one size fits all”. It is the era of personalized education – tuned to the preferences, needs and performance of the individual.
“Personalized learning” for some, means more time for teachers to engage with students on a personal level, to give courses that personal touch while creating a powerful bond with the students. For others, it means innovative learning technology able to identify learning patterns, to tailor coursework and to alert others when students show signs of being at risk of dropping out. By applying analytics to data about each student’s way of learning, a caring teacher gains fast, powerful insight that allows him/her to act quickly in helping students achieve their potential or prevent them from dropping out.
About the future of education, there is a common desire to transform education into a more personalized learning process that provides meaning and motivation. Maybe in an ideal classroom of the future, teachers will indulge more in existing technologies and analytics, identifying the problematic areas in students’ ways of learning and designing courses that address them head on. And Social Listening will help them do just that.
ReferencesTags: Konnect Insights, Listening Tools, SM Listening, Social Media Listening