Anametrix, the first cloud-based, real-time marketing analytics platform, today unveiled Social Analytics, a solution designed to collect multichannel social media data and allow marketers to evaluate ROI by analyzing reach, engagement, and conversion of earned media in comparison to paid and owned media.
Available to clients immediately, the new solution will bring social media data together into a single dashboard, making the information easy to compare.
Anametrix CEO Pelin Thorogood explains that Social Analytics follows a multistep process, designed to not only gather metrical data on social media activity, but also compare social reach and engagement, and explore how social media impacts Web site activity and revenue. "It's so much more than just numbers," Thorogood says.
Rather than simply gathering traditional metrics such as engagement volume or frequency, Social Analytics can provide instant performance feedback by analyzing the engagement and its sentiment, and immediately apply predictive analytics to determine what specific activity will mean from an ROI perspective.
With Social Analytics, marketers will be able to see trends in social media reach and engagement by channel to analyze how changes in reach affect engagement. "What we're interested in exploring is correlation," Thorogood says. "We want to connect the dots and explore the impact of social media, rather than just determine if something is generating a buzz."
The solution will also help marketers identify the campaigns and influencers that consistently have the most direct revenue impact and allow them to evaluate how earned media from social channels influences marketing investments in paid and owned media.
"Right now, paid channels are starting to lag," Thorogood says. "Analyzing social media can give companies an advantage by providing insight on how to improve in other, paid campaigns." With the help of the Social Analytics tool, marketers can get a better understanding of how to allocate their marketing resources and divide them among different channels, including traditional, online and social media, she explains.