Using AI techniques to analyze relation between social media marketing and company revenue

Abstract

In the modern era, the internet is becoming increasingly more accessible, cheap and impactful. The digital population across the world has risen to 4.66 billion (Statista 2021). In India, over 41% percent of the population has access to the internet, in large part due to the widespread usage of smartphones and the unlimited mobile data plans. With more and more people using the internet, people have begun to use social media to create a digital life where they can interact and connect with others using the online medium. As social media usage rises, these platforms become ideal mediums through which brands can promote and market themselves. Hence it is only natural that almost all companies have started to increase their presence on social media platforms and engage in social media marketing to some extent. Clearly, some companies have invested more time and money for social media marketing depending on their overall marketing strategies. Through our project we aim to find if there is any correlation between increasing social media presence/engagement and the revenue (or sales) of a company. We will be limiting the scope of our findings to the Indian context.