MKT365: Identify and describe the key business and strategic goals of using social media analytics to measure the competitive: Social Media Metric and Analytics Assignment, SUSS, Singapore

Question

On 6th July 2023, Meta formerly known as FaceBook, launched a rival app named “Threads” aimed at Twitter. The race is on to contest for new sign-ups and conversions over to Thread from Twitter.

The catch-22 with Threads is that you’d have to link the new platform to your Instagram account as a form of cross-platform integration from an end-user perspective. Moving forward, how does this impact your social media content analytics measurement?

And, if you were to delete the Threads account, you’d have to delete it jointly together with Instagram. There is a catch with the platform adoption and migration over from Twitter to Thread.

To add on to the social media platforms race, for the first time in a decade since the birth of Web2.0 the social web, social media platforms are now being challenged by the emergence of generative AI platforms such as ChatGPT, BARD and Meta-AI.

These generative AI platforms are capable of producing content at scale and speed like never before in the history of digital media. Together with generative AI, this makes social media analytics, social media content measurement, social media metrics for ad-campaign measurements more complex.

Elon Musk from Twitter has just announced a new logo to be in effect by Monday, 24 July 2023. Replacing the Twitter Bird logo to a new logo “X”. Think about the social brand measurement and the impact it may pose to your existing social media campaigns. Will it be a positive impact or a negative impact?

• Identify and describe the key business and strategic goals of using social media analytics to measure the competitive advantage and advertising dollar impact with the rivalry of both social media platforms, Twitter versus Threads.
• Discuss four (4) strategic opportunities that arise from establishing a social media presence with Twitter, Threads, or both entities, leveraging social media analytics.
• Examine and apply natural language processing (NLP) techniques to construct a strategy for textual data analysis using unstructured data as the types of social media data.
• Identify ten (10) common social media metrics that can be used to compare the performance of different campaigns. Demonstrate five (5) of the metrics you believe are best suited to showcase the effectiveness of various campaigns.
• Identify and analyze three (3) challenges of leveraging social data used to compare the performance of different campaigns across social media platforms.