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#MetricsChat Recap – 7/24

The return of #MetricsChat was quite successful! We had a great audience who asked many interesting and relevant questions. Our special guest and Viralheat CEO, Jeff Revoy, was riveting as always and replied to each question with honest and insightful answers. Do you all feel like experts on predictive social analytics and social media marketing now?

Unfortunately, we can’t post all the questions and answers here (there were many!) because if we did, you’d be scrolling forever (only a slight exaggeration). Instead, we’ve chosen the top 7 to recap here. As for the rest? Well, it looks like you’ll have to join us in two weeks for the next #MetricsChat!

Remember, #MetricsChat is every other Thursday featuring new topics and new experts. If you or someone you know would like to be a guest on #MetricsChat, please email marketing@viralheat.com with the subject line “#MetricsChat.”

The Top 7 Questions & Answers

Q1. What is predictive social media analytics exactly?

A1. Simply put, it’s using social media to identify consumers with purchase intent based on what they publicly share.

(Viralheat side note: You can learn more here)

Q2. How is it different from searching for leads in real-time?

A2. When you search in real-time, you often reach the consumer when it’s too late, after they’ve made a purchase. Predictive social analytics allows you to reach out prior to a purchase decision, which increases the chance of interest and conversion.

Q3. How accurate is lead identification and how do you ensure the quality of the leads?

A3. It’s increasingly accurate.  Instead of relying solely on machine learning, our API I available to thousands of developers who are teach the algorithm and refining it in real time across multiple types of applications and use cases.  The quality of leads is high beause it is based on what customers themselves are saying. The technology was developed as an open API to be refined in real time by human language.

Q4.  How do we figure out how much money to allocate for social media campaigns?

A4. Social media marketing budgets vary by company size and goals.  An interesting stat to note is that approximately 46% of business leaders said they plan to increase their social media budgets this year – that’s food for thought.

Q5. Is it worth paying for social ad campaigns like Facebook promoted posts/ads? Is that added engagement worthwhile or just extra fluff?

A5. The implementation of edge rank caused a huge drop in viewership to unprompted content. It’s worth it to get your page off the ground. Check out this article on post promotion.

Q6. With so many businesses vying for attention on social, how can you break through and capture a significant, interested audience?

A6. The name of the game is relevant content – be graphically sweet and concise and pair it up with engaging copy. That and be consistent.

Q7. Have you used this technology yourself? Or has your business?

A7. Our sales team uses PSA to find those in the market for #SMM tools. They monitor keywords, competitors, etc. People constantly ask for recommednations, share satisfactions/dissatisfactions, or outwardly search for a replacement. We locate these users and reach out to introduce them to Viralheat and its offerings.

Thanks again to all who joined and participated! And for the lurkers who wanted to check it out before jumping in, we hope you learned a lot from Jeff.  Even more so, we hope you joint us again in two weeks for an all new #Metrics chat, complete with a new topic and new guest expert.

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