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Whats even more useful than knowing how many mentions of the commercial are "positive" or "negative"? If I'm Frito-lay, Importing traditional campaign-tracking metrics that tell me how many viewers watched each commercial and the assumed conversion rates in to the same software that gathers and analyzes the social mentions for sentiment on a numerical scale as opposed to positive or negative, and using this information to derive best practices for future ads. Knowing how many mentions something gets is useful aestetically, but if you don't understand how it correlates to your traditional business metrics it won't do much for you in the way of increasing sales. I don't believe this is something Sysomos or Visible can do.
- Sergei Dolukhanov
1 year, 11 months ago on 6 Potentially Wildly Inaccurate Observations about Tostitos and Social Sentiment
Ezee Now you need a way to correlate it to your business, tying the data you find to your key performance indicators. It would help to have more than just a social media monitoring product, and something more along the lines of social media business intelligence.
Listening is the easy part; deriving actionable insight and tying it to your business is the hard part. You need a tool that can do it, people that can help you along, and a sound internal strategy to put all the pieces together.
2 years, 1 month ago on Use SEO to Improve Your Social Media Listening
Funny, I actually found this post because I'm doing basically what you wrote about..
One of hundreds of SEO keywords for our website is "social media listening", and I've also plugged it in to our software to track the industry, related themes, and overall to find out what people are saying about social media listening in general. I also do this for dozens of other related phrases and words. I suppose you wouldn't be surprised to hear how effective this is to drive leads to our website. So honestly, I couldn't agree more :)
philipstrange60 Keep up the good work ;)
2 years, 1 month ago on 70% of Companies Ignore Customer Complaints on Twitter
philipstrange60sdolukhanov Looks nice, but there are about 200 other "social media monitoring" companies on the market that seem to have similar function. In my response I was referring to a deeper kind of analytics; actually correlating the data you see to a businesses key business performance metrics. "How much money will my company make because of X share of voice in Y market?" Social media business intelligence. Cheers,
Just think; twitter is just the beginning. Think about the thousands of other places all over the web where people complain about the inconveniences they experience at the hand of several companies on the daily.
Someone might ask "As an enterprise, why don't you just get a social media monitoring product?" Well, you could, but they are expensive and they don't exactly help you correlate the data you find to your key business performance metrics, helping you figure out exactly who you need to talk to, what you need to say, and how much it will cost you if you don't.
Instead, enterprise users need to look in to social media business intelligence. Instead of fumbling around trying to figure out what to do about all of those people hating on your business online, it might be better to actually fix the issue before it becomes a bigger problem. Not only that, but understand what your customers are ACTUALLY saying; the motivations behind why they say what they say online.
It starts with twitter, but twitter is a tool that expands and promotes other content all over the web. I bet the number is a lot higher than 70% for companies failing to answer to the cries of their socially savvy consumers online.
Social media monitoring can help you listen to what customers are saying about your brand, sure. However, there is something fundamentally missing from their services, something that a c-suite exec. or VC would find exceptional interest in. I'm talking about connecting social data with one's ACTUAL KEY BUSINESS PERFORMANCE METRICS.
Companies are finding out the hard way that social media monitoring is simply not enough. It starts off great, but after a certain period of time, it becomes difficult to distinguish how everything is actually affecting one's business. In order to correlate unstructured (including social) data with your business, you need social media business intelligence.
Not only to you get the ability to listen, but you get the ability to tie everything back to your unique business processes and understand how everything is affected. Why settle for a piece of the pie when you can have the whole thing?
2 years, 2 months ago on Why to Select a Social Media Monitoring Service
The end justifies the means; great call Brett.
2 years, 3 months ago on Why most social media monitoring tools are inaccurate
The problem with social media monitoring software is that it doesn't show how social data actually impacts key business performance indicators. It's great for hearing mentions of your brand, but when it comes to actually quantifying your companies investment in to social media activities, trouble ensues.
Social data + business intelligence = IMPACT
Social media business intelligence is emerging as the glue to finally connect businesses with their social investments.
Antonie, thanks for the post! It's nice to hear others are skeptical about the practicality of automated monitoring software, and is taking a stance to combat the irrelevance of social monitoring software for enterprise users.