Drive Business With Social Analytics

Today the social gaming market is exploding with a whopping 81 million people playing each day while 49 million people playing multiple times a day

. As for Facebook, more than 200 million people play games on Facebook. As more players play social games, they start spending money on virtual items, which over a period of time becomes a significant revenue stream. Besides, revenue from advertising is also growing exponentially.

Moreover, with social game monetization opportunities existing, social media sites would continue to include social gaming on their networks. Therefore, it can be said that the social gaming industry has started to generate real revenues and a marketplace that could soon constitute a good chunk of the social e-commerce market.

This has been substantiated by a recently published Gartner report, which estimates that the social media revenue would go up by 43% to reach $16.9 billion in 2012 from 2011 revenue of $11.8 billion. According to this report, the largest source of social media revenue is advertising followed by social gaming. Social gaming revenue more than doubled between 2010 and 2011. And as per the report, the social gaming market is also expected to reach $6.2bn in 2012 with revenue from subscriptions reaching $278m.

According to Neha Gupta, a senior research analyst at Gartner, Social media sites are becoming more innovative in their ad products to attract marketers, Social media sites enable marketers to target ads to discrete consumer segments by unlocking the interconnected data structures of users that include lists of friends, their comments and messages, photos and all their social connections, contact information and associated media. Social networking sites should deploy data analytic technologies that interrogate social networks to give marketers a more accurate picture of trends in accordance with consumers' needs and preferences."

With social gaming and social commerce providing a unique opportunity for companies to understand the customers activities, behaviors and demographic profiles, enterprises must start investing in social media analytics tools

* Track data across many social platforms

* Tap into the customer behavior insights trapped in the ever-expanding social media data

* Get valuable, actionable user insights on a real time basis

by: Gladeyas

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