The value of Likes and Measuring Social Buzz

Facebook’s home market growth has stalled, whereas capacity to pay for online ads is still less in other parts of the world. To maintain the Average Revenue Per User (ARPU), Facebook, thus, needs to keep on growing in Rest of the world (which they have succeeded in doing so far).

For business owners, this means that the value of Like (or for that matter +1) is still there to capture; And that’s why the need for Social Media Listening tools. Although the market for such tools is pretty crowded, I still feel that there is a scope for targeting Small enterprises.

Social media listening tools can be bucketed into 2 categories:

1. Listening tools for large organizations

2. Monitoring tools for Small & Medium Enterprises (SMEs)

We can pick the tools based on multiple parameters such as:

1. Suited for company size – Small, Medium, Large

2. Price Point – Free, <$30/month, >$30/month

3. Monitoring – [Social networks]; [Forums & Comments]; [Facebook, Twitter, Google+]; [Web pages & Web apps]; Events.

4. Reporting – Emails or RSS Alerts; Custom Reports; Searches, Downloads

5. Engagement – Ability to Identify Influencers; Update Social Media Accounts; CRM Integration

 

Created a wireframe for one of the options –

Social Buzz Monitor Wireframe

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