Prashant Suryakumar is a Social Media Engagement Manager at Mu Sigma and is currently focused on social media analytics. This post was co-authored by Dhiraj Rajaram, the founder and CEO of Mu Sigma.
Social media has come of age. Marketers now have the ability to augment their traditional marketing approaches with rich behavioral and activity-based targeting that should increase marketing ROI significantly.
However, businesses are facing an uncomfortable truth: There are no “best practices” for measuring a successful social media campaign. Crowd behavior is dynamic and context-specific, and it is difficult, if not impossible, to build a “one size fits all” solution.
A structured approach to capturing, measuring, analyzing and refining marketing strategies in near real time is essential to executing a successful social campaign. Initially, however, companies need to invest in infrastructure to make such a learning cycle possible.