It’s time to stop wasting money on social analytics software
Buzzmetrics, Hootsuite, SproutSocial – the list of social analytics tools out there is seemingly endless. But unless you dig deep into these toolkits to fully harness their power, you could be throwing money down the drain, writes KPMG’s Anthony Mason.
It beggars belief, but many companies are burning $100,000 a year on social analytics software tools that are over-engineered and under-utilised.
And far more dangerous than this wasted cost is the fact that even with these tools, comms and marketing professionals are unable to accurately measure the performance of their digital campaigns – or adequately track social activity around sensitive issues.
Are you wasting money on social analytics?
It begins with something most Australian marketing professionals will relate to. Sitting in a meeting, possibly over Skype or Google Hangouts, while some whiz-kid in Silicon Valley demonstrates the latest social media tool. They run through yet another amazing feature, using a high-traffic example like the Superbowl or the last US election. It all seems so simple. Buy this great software and all your social monitoring and management headaches will be over.
Anyone who has spent any time in social monitoring quickly comes to realise that no one is talking about your brand. The spend on tools and consultants is a total waste.
Obviously working for a nobody.
Hi Anthony, nice article but before spending 100.000$ in a tool, I would recommend you to have a clear use case and goals, test first the tool and understand how you can find the answers you are looking for with it. I am pretty sure there are amazing social analytics platforms out there that can bring a lot of value, of course they are complex because there are as many use cases as clients.
Yes there is so much great free information on Google Analytics, Facebook and Twitter insights if people only care to look.
Seriously, who but only the largest multinational organisations can justify spending $100,000 on social analytics software.
If you are spending that much and are not using it properly, then can you really blame others for that.
I agree but… “many companies”? Evidence please.