Today we’d like to share an article on unlocking value and productivity through social technologies. It’s no secret that new tech advancements can make our lives easier, and when it comes to marketing, systems that leverage AI and Machine Learning can help save precious time and resources.
For marketing professionals in the music industry, one challenge lies in managing the vast amount of data from various platforms. Other industries struggle with data in addition to spending too much time looking for information and other time consuming processes. As illustrated in the article: “The average worker spends an estimated 28 percent of the workweek managing e-mail and nearly 20 percent looking for internal information or tracking down colleagues who can help with specific tasks”. This approach can hinder efficient collaboration and communication within companies.
More specifically, when it comes to social media data in the music industry, deciphering the impact of each campaign and channel becomes even more complex. Labels and teams must find the right pieces of information to understand what drives an artist's success or areas that require improvement. The sheer amount of social channels and dashboards can leave them coming up empty-handed, unable to connect the dots and gain actionable insights. While it's possible to monitor performance within a specific channel, measuring the true impact and value of a post across various platforms is a challenge. For instance, if a post gets shared on multiple channels and you see a spike in streaming coinciding with those posts, pinpointing the channel that contributed the most becomes time-consuming. Extracting the right insights requires skills, time, and resources, and sometimes, without proper analytics, it may not even be possible to know exactly what’s working.
Using a system like Immensity, which consolidates social media, streaming, and sales data, and utilizes advanced statistics and machine learning, it's possible to confidently identify the channels and campaigns that drive the most growth and revenue.
Read the full article for more on this topic.