Social Media Popularity and Financial Performance in Ecuadorian Market
Uncovering trends that relates social media and financial indicators can help firms to track the customer perception across time and under- stand better the impact of different events on enterprises’ profitability. We have collected Facebook and Twitter data from 32 Ecuadorian companies categorized in 9 industries to find out relationships between financial performance of a firm and online attention metrics. We aim to design quantitative metrics for industries to measure the activity and attention they attract in social networks, visualize the existing correlations between social attention and financial performance, and predict the revenue of a firm based on the normalized attention it receives on Facebook. We have confirmed that, in Ecuador, the audience engage through Facebook. Thus, Facebook based metrics exhibit a high correlation with financial indicators, specially revenue and advertising expenditure, but we did not find a significant correlation between Twitter metrics and financial indicators. Finally, we employ such metrics to predict the financial performance of a company in Ecuador.
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