Demerzel’s Blog - Intellectual Analysis on China, SEO, Analytics, and the Web
Independent and intellectual thoughts ranging from China, SEO, Analytics, and other international topics
Nucomony and Social Media Web Analytics
Author: Demerzel3 Nov
People often believe that when something is free, it means two things: 1) Not very good, 2) No competition or a need to update.
As I have previously mentioned about the Golden Age of Analytics with Google Analytics, point one is entirely false as Google has recently been able to really up its game within the web analytics arena by providing some really spectacular online marketing features that will benefit many agencies that take advantage of it. I finally now have access with it for some of my clients and will be salivating through it for probably the next month until I can squeeze just about everything I can from it (my poor GA representative will get to know me over the next month as I call with lots of questions, lol). Go install it after you read this post.
This post tackles the second part with Nuconomy coming out with something that no other qualifiable web analytics package has to date–the ability to track social media traffic and the correlation with them. Now, I know what you should be thinking: Social media does not convert! There is no direct ROI in it. But the counter-argument would be that there is a branding effect, a talking effect, customer interactions, etc. that cannot be measured. Yet, what Nuconomy has done is put their money where their mouth is, tracking those exact effects. Now you can find out whether or not there is an indirect impact for your company and if not, leave the social media fanatics with only this:
So, what do I think is the most important factor in a social media strategy? Social Media
When competing against a free product or service, you have to be able to market yourself for niche areas, innovate to stay ahead of the pack, and listen to what your customers want. This is where Omniture SiteCatalyst has seriously failed as a Web Analytics provider–it fails to listen to customer complaints (slow load time) and it fails to stay ahead of the pack by not placing in basic SEO tracking that Google Analytics offers for free.
So please, check them out, but do not join the beta–I’m trying to get into that, do not want more competition than there already is to get on that list. 
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One Response for "Nucomony and Social Media Web Analytics"
[...] If you are trying to generate revenue directly from social media, stop. In fact, you have a greater chance selling those products that “protect” you from electromagnetic radiation than generating revenue directly from a social media revenue campaign. People just do not want to be disturbed or marketed directly in their niche social media club. All the analytics data continues to show that anyone coming from these sites have the greatest bounce rate and lowest time on site from any other marketing channel. The time and effort it takes to “infiltrate” a social media networking or build something for social media will rarely, if ever, be made up in revenue directly from these sites. Indirect revenue, is a whole other matter, but will often lack the analytical capacity to track (exception potentially being about my article on Nuconomy and Social Media Analytics). [...]