Social Media Analytics and Business Value: A Theoretical Framework and Case Study

A theoretical framework is presented that explains how organizations create value with SMA and is used as a lens for a case study involving a large financial institution (Bankco) that used SMA as a critical component of a major and highly successful marketing campaign.

Abstract

Social media analytics (SMA) uses advanced techniques to analyze patterns in social media data to enable informed and insightful decision-making. It provides organizations with new ways to create value and gain competitive advantage. In this paper, we present a theoretical framework that explains how organizations create value with SMA. We use the framework as a lens for a case study involving a large financial institution (Bankco) that used SMA as a critical component of a major and highly successful marketing campaign. Bankco successfully distinguished itself from its competitors with a marketing campaign based on the creative and innovative use of a number of social media channels. SMA provided Bankco with important insights into customer sentiments, engagement and brand awareness. A number of important lessons learned about effective use of SMA are discussed.