social media monitoring market overview
Post on 13-Sep-2014
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DESCRIPTION
Presentation to The Community Roundtable (@TheCR) members on 3-23-11. Social media monitoring is commonplace these days for most companies executing social initiatives. However, it's still an immature practice area, with its share of myths and misunderstandings. Join us for this call to discuss how to improve your social listening programs. We'll also learn about the current state of the social listening platform market, a framework you can adopt to guide your listening efforts, and what leading companies are doing with social listening programs.TRANSCRIPT
Social Media MonitoringMarch 2011
Outline
Current state of the market
Vendors
Types of platforms and services
Differences in approach to leading solutions
Coverage
Major Features and Functionality
Engagement
Text Analytics
Sentiment
Competitive Intelligence
Influencers
Frameworks
Leading Companies & Practices
Companies
Practices
Listening Strategy
Learning Agenda
Target Audience
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Fragmentation - The Social Data Challenge
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A Crowded Space. Too much choice!
Hundreds of platforms to choose from, offering both the same and in cases very different products and services.3
Types of Social Monitoring Vendors
Hundreds of platforms to choose from, offering both the same and in some cases very different products and services.4
Coverage: Do you know your data sources?
Data Information Insights Recommendations all share a critical dependency (Data Quality)
Social Data Analysis Process
Critical to know where your data is coming from
• Harvested manually?
• Purchase from upstream providers?
• Sampling or firehouse feed(s)?
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Requirements Drive Features and Functionality
Data Information Insights Recommendations all share a critical dependency (Data Quality)
Brand reputation / public relations / crisis prevention
Search engine optimization
Marketing and advertising campaigns
Industry/Competitive Intelligence
Customer service
Business development
Product development / innovation
Listening Modes Engagement and Response
Text Analysis
Sentiment Analysis
Competitive Intelligence
Influence Identification and Analysis
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Social Intelligence FrameworkMore than monitoring. It’s about understanding key customer behaviors, needs and expectations
1. Discover - Harvest relevant social data
2. Analyze - Separate signal from noise
3. Segment - Segment social data by business function and/or defined categories
4. Strategize & Integrate – Make listening outputs a regular input that informs the strategic planning process
5. Execute – Informed action based on insights from strategic listening
Social programs start by discovering data, synthesizing it into findings, segmenting / prioritizing, and shepherding insights internally to key company functional areas.
Social programs start by discovering data, synthesizing it into findings, segmenting / prioritizing, and shepherding insights internally to key company functional areas.
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Social Media Monitoring Process
Social
Intelligence
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Understanding Customers and Audiences
Monitoring and listening is a critical component of Social Business9
Examples of Best-in-Class Monitoring
• Monitoring ~22k conversations per day
• 11 Languages
• Information used for both CRM and advertising-related measures
• Data can be segmented based on topics of conversation, trends, geography, and language
• Partnership with Radian6
Full article: http://www.clickz.com/clickz/news/1931078/dells-social-media-listening-command-center-breakdown
Dell Gatorade
• Tracking terms relating to their brand, competitors, as well as its athletes and sports nutrition-related topics
• Runs detailed sentiment analysis around key topics and product and campaign launches
• Partnership with Radian6 and IBM Consulting
Full article: http://mashable.com/2010/06/15/gatorade-social-media-mission-control/
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Best Practices
Social Media Monitoring and Listening Tips
Listening StrategyLearning AgendaTarget Audience
• Listen before you begin any social media initiative to understand the capabilities of your audience and what their needs and issues are
• Listening means MUCH more than monitoring mentions of your company, brand, product name(s)
• Listening relies on a combination of leading tools and platforms, but the real value is dependent on the quality of the data coming in and the quality of the analyst
• Establish strategic listening posts, not as a one time effort, but as an ongoing strategic listening program (Don’t turn off the insights fire hose!)
• Online listening can positively impact many different business functions across the organization, not limited to marketing and advertising campaign improvements
• Resource: Social Media Monitoring Tools Wiki - http://wiki.kenburbary.com
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