Achieving optimal online marketing through cutting edge analysis

Dec 24, 2013
Achieving optimal online marketing through cutting edge analysis
Credit: Shutterstock

Spending on internet advertising recently surpassed newspaper spending, with heavy investment in non-traditional social media marketing programmes. This highlights the fact that businesses - large and small - are beginning to tap into the unique communicative power of social media.

But while social media enables businesses and organisations to reach their target audiences in new and novel ways, it also presents challenges. Millions of social media posts are generated every day, and consumers are routinely bombarded with marketing messages. How can companies - and especially SMEs - cut through the noise to deliver effectively their message?

New tools for analysing, measuring and visualizing social media content are needed, which is why an EU project was recently launched. The OPTIMIZR initiative aims to optimise social media campaigns by tackling unstructured text and through the development of an innovative analysis tool. This will ultimately help SME marketing agencies and their customers to improve the efficiency of their social media actions.

The project aims to bring social network analysis up to date. This is crucial, as the is constantly evolving. For example, online marketing has shifted away from a model based on click-through rates towards a less measurable model that involves multiple transmitters of information (tweeters, bloggers, fans, etc.). Assessing the success of this model is much harder to achieve.

The OPTIMIZR project will address this by combining information technology, marketing data and modelling capabilities that enable the system to provide predicted outcomes from various scenarios and social media marketing strategies. This will provide a better understanding of social network structure and its impact on information diffusion.

The project will first assess how social media campaigns can be maximised. This will be achieved by identifying influencers that could help to improve the diffusion of messages and online communities that best fit their campaign target. Predicting the social spread of a campaign will enable marketing actions to be adjusted according to real performance.

The project will next monitor the marketing impact. The aim will be to establish metrics for evaluate the efficiency of an online marketing campaign.

Explore further: Underage youth exposed to alcohol advertising through social media

More information: Project factsheet: cordis.europa.eu/projects/rcn/109854_en.html

add to favorites email to friend print save as pdf

Related Stories

Oracle buying Collective Intellect

Jun 05, 2012

(AP) — Oracle is buying Collective Intellect Inc. for an undisclosed sum as it expands its social media tracking services.

Social media pays off for businesses, study shows

Jan 18, 2013

(Phys.org)—Customers who connect with a business through social media will go to the business more frequently and contribute more to its bottom line, according to a new study from the University at Buffalo School of Management.

Recommended for you

World record in data transmission with smart circuits

5 minutes ago

Fewer cords, smaller antennas and quicker video transmission. This may be the result of a new type of microwave circuit that was designed at Chalmers University of Technology. The research team behind the ...

Robots recognize humans in disaster environments

54 minutes ago

Through a computational algorithm, a team of researchers from the University of Guadalajara (UDG) in Mexico, developed a neural network that allows a small robot to detect different patterns, such as images, ...

Researchers developing algorithms to detect fake reviews

1 hour ago

Anyone who has conducted business online—from booking a hotel to buying a book to finding a new dentist or selling their wares—has come across reviews of said products and services. Chances are they've also encountered ...

User comments : 0