By Sangkil Moon, Belk College of Business, The University of North Carolina at Charlotte, USA, firstname.lastname@example.org | Dawn Iacobucci, Owen Graduate School of Management, Vanderbilt University, USA, email@example.com
The rise of the Internet and smartphones in the 21st century has created and developed social media as an extremely effective means of communication in society. In life, business, sports, and politics, social media facilitates the democratization of ideas like never before. Social media content gives consumers different information sources that they must decipher to discern its trustworthiness and influence in their own opinions. Marketers must be savvy about using social media in their attempts to persuade consumers and build brand equity.
As social media has permeated our everyday lives, scholars in various disciplines are actively conducting research into this aspect regarding our way of life. In this scholarly endeavor, marketing has taken a leading role in this research endeavor as a discipline involving human communications and idea persuasion. Thus, rather than considering social media broadly across multiple disciplines, in this monograph, we concentrate on social media analytics in marketing.
This monograph comprises the following four sections:
Social Media Analytics and Its Applications in Marketing focuses on the intersection of three closely related domains -- marketing, social media, and social media analytics (SMA). In other words, this monograph concerns marketing-based decisions related to social media and social media analytics (SMA) or social media and social media analytics from the perspective of the marketing discipline. In SMA, the authors emphasize the roles of data and tools in tackling marketing problems. In marketing applications within the context of SMA, they discuss not only current problems, but also trends and future directions. The basic approach of this monograph can help both marketing practitioners and academics better understand how to use marketing analytics to identify the common patterns and trends produced by consumers and firms.
The monograph is organized as follows. First, it describes the general state of social media and SMA offering both practical and theoretical perspectives. A four-step SMA framework called AAVF (Acquisition-Analysis-Value-Feedback) is proposed based on examination of some existing frameworks and processes for SMA. Second, it examines social media analytics (SMA) particularly within marketing as a collection of tools and methods used to unearth the practical values of consumer and brand data. Third, it shows how common methods for SMA have been utilized for common marketing problems. Some common SMA methods encompass the analysis of big data, text analytics, visual analytics, artificial intelligence, machine learning, and deep learning. Finally, trends and future research topics for SMA are discussed, particularly within marketing.