“In 2017 we will see a monumental shift in how people spend their ad money”

moses-velasco-blog
Moses Velasco

Interview with Moses Velasco, Chief Product Evangelist at Socialbakers, a global social media analytics company

Hi Moses, what is your background and what is included in your current role at Socialbakers?

My background for the last 18 years has been in technology; I worked in intellectual law in Silicon Valley and then moved on to product management and to VP of product roles. Right now, as Chief Product Evangelist, I have a cool job. I have the opportunity to travel and speak to different markets and use that information to inspire or influence our product development and product teams. I really enjoy it.

What differs Socialbakers from other social media analytics platforms?

Socialbakers started as an analytics provider and solution to measure social performance across various platforms in 2008. We’ve been collecting and storing aggregate data since that time, and now our best in class analytics is backed by having depth and breadth of data. I don’t want to say that we are the world’s largest data media storage, but we are close. This allows us to create next generation social media tools; we are leading the pack in this way. We look at social media performance and are able to provide recommendations on what our users should do, how they should invest their money on content that will provide the best results and take out the guessing work of how they can utilize their budget in the best way.

What are your greatest challenges ahead at Socialbakers, when it comes to serving your customers analysis and developing your offer?

Analytics have been known as a single point type solution; customers tend to have three to five different vendors to manage social media strategy. The big challenge is that we’re moving to a suite solution to understand that the whole is greater than its parts. By integrating different parts, such as analytics and publishing, users will have more capability of using that data to make the best decisions than with separate vendors.

We’ve seen big improvements with a suite solution in customers’ performance because we help them understand their niches better. Customers are able to see what the most resonating content is, and the best time to publish that content to get maximum visibility. Our prediction algorithm helps them learn what their best content is so they can spend money on great performing content, which yields a greater ROI.

With the type of workflow that we integrated to help customers understand where to invest money, we’ve moved from an analytics type provider to a suite of solutions that help clients measure, manage and monetize across the main social media platforms.

Do you have any specific plans to expand your business in the near future, like new markets or products?

We are focused on ads and content campaign optimization for our customers. We’ve provided third party data integrations with web analytics to show how clients can realize a return on the investment they pay for content, and how that results in higher traffic to their websites.

With the introduction of our APIs, this is moving us closer to providing business intelligence, where we can push and pull data from other platforms. I find that very interesting for our customers and for myself.

In the beginning of the year you introduced Facebook Pages for listening. How well has that played out when it comes to your coverage and client adaptation?

Over the previous years, we recognized that we had a significant gap in the ability to provide an integrated listening product. Our customers told us there was a gap, and we listened (pun not intended). Once we did, our customers adopted it, which helped us provide a more holistic approach to our suite and our solutions.

This is a big benefit and unique selling point for Socialbakers, because we provide listening for free within our packaged solutions. This allows our customers to use and leverage listening to manage their discovery and crisis management, as they need to understand how listening fits into the whole solution. We’re one of only vendors that provides this as a solution for free because it’s integrated in our suite and we want our customers to feel the value of our offering.

What part of your current product has a lot of potential, but not been adopted at the same rate yet by your clients?

Our ads analytics section is something that is going to take off quite heavily. We’re able to provide information about how much clients are spending on ad accounts and what that’s yielding for them. The way we’ve built that into our suite is by showing an entire social performance management solution that allows users to understand when to sponsor their content, what content is getting the maximum value from how much they paid and how it’s affecting their relevance score on Facebook; a high relevance score drives reach and engagement. Our ads section will become a hot topic for us in the next few months.

Which social platforms do you see having the most potential in the future?

Aside from the basics, Facebook, Twitter, YouTube and Instagram, we’ll see the rise of Snapchat and Pinterest. Pinterest is open to a few selected marketing partners, while Snapchat hasn’t opened their APIs for analysis, but are moving in that direction. Our clients and our communities are asking us to support these platforms. We are waiting patiently and working closely with partners to see how this will play out. I also think LinkedIn will have a big play in social media as the platform progresses.

What kind of data, which would help you perform even better analysis, is the hardest to get ahold of?

Right now, we are monitoring very closely how bots are addressing client social interactions. These automated chat bots can help with customer service queries, and will be big part of automation behind customer care. It’s interesting to see how this automation affects the manual processing, and where the lines will blur between automated and manual operations. There will still be a need for the human element, but we’ll see big efficiencies from automation.

With monitoring, we want to see what are the best use cases, is it simply customer service, or is it purchasing or repeat buying? While I think there’s a lot to it, we want to avoid using any of the parts or cases that may be hyped up, so this is something we are considering how to analyze in the not too distant future.

What kind of data or media that you do not have monitoring on today, can be interesting in the future?

For us, more data will become social, as traditional media moves in that direction. Even podcasts or these types of activities will move to social. I don’t think there’s a big hurry to do anything else in that realm, but there will be a shift. We see a lot of that in the traditional advertising spend, which was largely on television, but the digital ad span will surpass the TV ad span in 2017. From this point, this is a monumental shift in how people spend their money, from media and publishing to digital and social. This will be an interesting change that we will monitor more effectively and closely in next few years.

How do you think the media monitoring and social media analytics industry will change in the next five years?

We’ll see less publishers going the traditional route like print. Print is still relevant, but less so as publishers go to social. If you want to be a successful business, you have to adapt to these changes; if you want to reach more audiences, it will have be through social. Social responsibility from companies like Socialbakers is to help those businesses and our prospects understand the value of social and how to leverage the communication channels and the largest consumer data source to be able to interact more effectively with audiences and customers.

By Renata Ilitsky

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