Social media has become an integral part of marketing strategies, but current tools for monitoring and analysis are proving ineffective in measuring campaign impact and return on investment. An EU initiative is creating the technology to improve the efficiency of social media campaigns.
Social networks produce hundreds of millions of posts every day. This
overwhelming flow of online activity is becoming increasingly difficult
to measure, leading to poorly defined strategies and unsuccessful
marketing campaigns. New monitoring solutions are needed to sort through
information spread across multiple social networks.
To tackle such pressing social media marketing challenges, the EU-funded 'Online analysis tool for the optimization of social media campaigns' (
OPTIMIZR) project set out to understand social network structure and its impact on information diffusion.
Project partners are developing a novel tool and campaign optimisation system to enhance the efficiency and maximise the impact of social media marketing campaigns for products, services and brands to customers.
During the first reporting period, system specifications and architecture were defined following the identification of end-user requirements.
The technology works by analysing the transmission of content-based information and the structure of popular social network services. This helps to reveal who the influencers are in a given space, determine the most optimal online communities for a targeted campaign and forecast the potential impact on social networks.
Benchmarks can then be created to measure the efficiency of an online marketing campaign and monitor its performance.
OPTIMIZR technology will ultimately revolutionise social network analysis, enabling the marketing industry to carry out effective online marketing activities and to spend wisely on Internet advertising.
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