Situation Analysis Deck - Social Media Listening & Monitoring Lanscape
Upcoming SlideShare
Loading in...5
×

Like this? Share it with your network

Share

Situation Analysis Deck - Social Media Listening & Monitoring Lanscape

  • 2,732 views
Uploaded on

Social Media Marketing Landscape and Social Media Monitoring - A provider evaluation

Social Media Marketing Landscape and Social Media Monitoring - A provider evaluation

  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Be the first to comment
No Downloads

Views

Total Views
2,732
On Slideshare
2,722
From Embeds
10
Number of Embeds
3

Actions

Shares
Downloads
55
Comments
0
Likes
1

Embeds 10

http://www.linkedin.com 6
http://www.slideshare.net 2
https://www.linkedin.com 2

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
    No notes for slide

Transcript

  • 1. Social Media Marketing landscape and Social Media Monitoring Provider Evaluation Provider Evaluation Social Media Marketing Landscape and Social Media Monitoring
  • 2. Corporate credibility is in crisis How much do you trust companies to do what is right? Source: 2009 Edelman Trust Barometer SOCIALtality |
  • 3. No industry segments appear to be immune Source: 2009 Edelman Trust Barometer How much do you trust companies in these industries to do what is right? SOCIALtality |
  • 4. All communications channels suffer, yet . . . With a decline of just 5%, social networking sites prove the most resilient form of communication. Source: 2009 Edelman Trust Barometer SOCIALtality |
  • 5. The crisis highlights the value of social engagement
    • “60% of consumers trust online product ratings and reviews, but only 28% trust emails from a company. 1 ”
    • The Edelman study concludes . . .
    • “If businesses are to regain trust , then they will need to adopt a strategy of public engagement by means of a shift in policy and communications.”
    • “The CEO should set forth the company’s position, but then it must be echoed by others -- individuals who often sit outside the company -- including industry experts, academics and ordinary citizens .”
    • “Companies should inform, with a real commitment to speed, the conversations among the new influencers -- always underway on blogs, in discussion forums and bulletin boards.
    Source 1: Forrester “The Listening Platform Landscape” SOCIALtality |
  • 6. Corporations realize that their audience is already engaged
    • According to Forrester’s “Justifying Social Marketing Spending”
    • Adults 18 - 24 spend nearly 19% of their time on social networking sites.
    • Adults 25 - 34 spend 10% of their time on social networking sites.
    • 16% of adults >45 visit a social networking site at least monthly
    • 26% of all adults updated a social networking site monthly
    • 16% of all adults watched online video clips produced by other users at least once a month
    • 24% of all adults read a blog at least once a month
    SOCIALtality |
  • 7. Companies begin to rethink communications strategies Source: Deloitte “2009 Tribalisation of Business” Study Source: Mzinga, Babson “2009 Software in Social Business Study SOCIALtality |
  • 8. Corporations begin to integrate social media into their strategy
    • How companies are allocating resources to address social media engagement 1 :
      • 57% devote employees to social media engagement
      • 40% devote budget for external social media engagement resources
    • How companies fund social media engagement 2 :
      • 55% cannibalize traditional media budgets
      • 48% Shift dollars from other marketing communications initiatives
      • 26% create incremental budgets
    • Yet, more than 50% of companies will devote less than 5% of their online budget to social media. 3
    Source 1: Mzinga, Babson “2009 Software in Social Business Study Source 2: Association of National Advertisers “2009 Social Media Study Source 3: Forrester “Justifying Social Marketing Spending” SOCIALtality |
  • 9. Social media engagement encounters barriers to significant investment
    • Common challenges marketing professionals face 1 :
      • “ senior leadership acceptance”
      • “ defining program strategies and goals”
      • “ lack of dedicated resources”
      • “ lack of measurement”
      • “ ROI tracking”
    • In fact, “only 8% of social marketers are satisfied with the ROI of their social marketing campaigns.” 2
    Source 2: Forrester “Justifying Social Marketing Spending” Source 1: Mzinga, Babson “2009 Software in Social Business Study SOCIALtality |
  • 10. The ROI challenge
    • Marketers struggle to align back-end metrics like sales, lift in brand awareness and increased purchase intent with patterns like user engagement 1 .
    • As yet, no single metric effectively integrates online and offline, social and traditional measurements.
    • Social Marketing, unlike traditional marketing initiatives, has no audience guarantee 1 making forecasting and expectation-setting difficult.
    Source 1: Forrester ”Justifying Social Marketing Spending” SOCIALtality |
  • 11. The competitive set
    • The current category entrants can be organized into two classes:
    • Monitoring Platforms : simple data aggregators that execute searches and track mentions of user-selected key words. While useful for tracking volume of mention, the lack of advanced NLP limits the ability to provide insight.
    • Listening Platforms : a technology and analytics infrastructure that mines traditional, online and social sources to extract and deliver insights to shape strategy. 1
    Source : Forrester “The Listening Platform Landscape” SOCIALtality |
  • 12. The current category leaders: Monitoring Platforms (in order of market share, inferred partly through share of voice) Positioning : A software application designed specifically to monitor and measure social media Target : Marketing services agencies (Advertising/PR) Positioning : A complete platform to listen, measure and engage with your customers Target : Marketing services agencies (Advertising/PR) Positioning : A web-based, social media that tracks social media to help your team build better products and stronger customer relationships Target : Marketing services agencies (Advertising/PR) and brand managers
  • 13. The current category leaders: Listening Platforms (in order of market share, inferred partly through share of voice) Positioning : Uncovers and integrates data-driven insights by monitoring, analyzing and measuring Target : Brand/Marketing Managers Positioning : Services to master the four core competencies of dialogue: Listen, Influence, Insight and Engage Target : Brand/Marketing Managers, Marketing services agencies (Advertising/PR) Positioning : Business intelligence for Social Media by listening, understanding, measuring and engaging Target : Brand/Marketing Managers, Marketing services agencies (Advertising/PR) Positioning : Distills meaning - with mathematical precision - from opinion, information and online data Target : Brand/Marketing Managers SOCIALtality |
  • 14. Competitive Scorecard SOCIALtality |
  • 15. Issues common to current social media monitoring/listening platforms
    • Unreliable data collection: (most companies index or use database search or a combo)
    • “ I’ve begun to notice inconsistencies in the data that different social media monitoring tools produce . The dirty little secret or so it seems, is they aren’t all working with the same data sources .”
    • ─ The Dirty Little Secret of Social Media Monitoring – Ken Burbary July 13th, 2009
    • “ The reality is that while these companies provide you with piles of data and funky visualizations the profound unreliability of the software means you have to sit for hours and days and configure the dashboard, refine the data”
    • ─ The Problem With Social Media Monitoring Technologies – No Man’s Blog – Asi Sharabi-Aug08
    • “ When I structure a social media monitoring program, I couple Radian6 with several outside search tools (Google, BlogPulse and others) to be sure we’re picking up everything we possibly can”
    • ─ The Dirty Little Secret of Social Media Monitoring – Ken Burbary July 13th, 2009
    SOCIALtality |
  • 16. Issues common to current social media monitoring/listening platforms
    • Clumsy data filtering:
    • “ Efficient filtering of topics. This probably seems stunningly obvious , but often it is still poorly done . The ideal tool is a combination of both depth and breadth--it scans all possible media, yet returns only the most relevant results .”
    • ─ Do Social Media Marketers Dream of Monitoring Tools – Threeminds.organic.com
    • “ Before you can extract anything meaningful from this data you have to go through hours and hours of spam filtering which can be very tedious if you are dealing with 1000s of mentions every week/month.”
    • ─ The Problem With Social Media Monitoring Technologies – No Man’s Blog – Asi Sharabi-Aug08
    • “ In some occasions I had over 50% irrelevant data coming through my dashboard.”
    • ─ Social Media Buyers Guide, Murray Newlands
    • “ The tool can be cumbersome , with so many results returned. We have people who sift through the data to find relevant information and create reports.
    • ─ Maggie Batista, Trip Advisor
    • “ You have to sit for hours and days and configure the dashboard, refine the data ”
    • ─ The Problem With Social Media Monitoring Technologies – No Man’s Blog – Asi Sharabi-Aug08
    SOCIALtality |
  • 17. Issues common to current social media monitoring/listening platforms
    • Dubious influencer scoring:
    • “ Every monitoring company has its own algorithm how they define "Influencer" and "influential . . . Not all are created equal .”
    • ─ Social Media Explorer, Jason Falls
    • “ I would love a tool with "top ten" Influencers . Being able to pinpoint Influencers can be a critical part a broader social media strategy. So the ability to easily find and target them is useful.”
    • ─ Do Social Media Marketers Dream of Monitoring Tools – Threeminds.organic.com
    • "Influential posts" would be an important addition, because in the new world order of UGC, often it is not just the "Influencers" who create the "influential posts .”
    • ─ Do Social Media Marketers Dream of Monitoring Tools – Threeminds.organic.com
    • “ Scout Labs is working hard to upgrade its influence metric by integrating Web traffic data and a measure of the source’s relevance to the search topic.”
    • ─ Rate This Neutral: Scout Labs Social Media Monitoring is Definitely Cool, Possibly Accurate – MPM Toolkit – David Raab Feb09
    SOCIALtality |
  • 18. Issues common to current social media monitoring/listening platforms
    • Lack of accurate, automated sentiment scoring:
    • “ Scout Labs will get sentiment right (which is defined as in agreement with a human customer) about 72 percent of the time . That sounds pretty loose.”
    • ─ ScoutLabs launches cheap, real-time Market Research – CNET – Rafe Needleman Feb08
    • “ It is currently time consuming to manually grade sentiment in Radian6. Even though the brand in question only returned 54 posts, it would have taken about an hour to go through each one, read, score sentiment and so-on. In Scout Labs, if I trust their tool , it’s done.”
    • ─ Social Media Explorer, Jason Falls
    • “ Sysomos boasts 87% accuracy in sentiment analysis of general text, 91% accuracy in sentiment analysis of product reviews, 85% accuracy in sentiment analysis of movies and celebrities.”
    • ─ Sysomos Map and Heartbeat Social Media Monitoring – WebMetricsGuru – Marshall Sponder Oct09
    SOCIALtality |
  • 19. Issues common to current social media monitoring/listening platforms
    • Accurate demographic and geographic targeting data is a crucial need
    • “ Love a tool that provides the ability to slice and dice your mentions by demographic information like age, gender and region of the country”
    • ─ Do Social Media Marketers Dream of Monitoring Tools – Threeminds.organic.com
    • “ The problem [with companies that claim this capability] is that it’s not about where you are but which domain you’re using. So reliable geo/regional analysis is, in many cases, impossible to carry or not complete so it needs to be complemented with manual search”
    • ─ The Problem With Social Media Monitoring Technologies – No Man’s Blog – Asi Sharabi-Aug08
    SOCIALtality |
  • 20. Desired feature set based on criticisms of current offerings
    • Comprehensive and accurate data collection
        • Indexing preferred
        • Simple user-interface
        • Automated or aided advanced search term construction
        • Results tabbed by channel preferred
    • Accurate relevancy filters
        • Spam
        • Re-tweets aggregated separately
    • Influence scoring on both poster and posted
    • Accurate and consistent sentiment scoring (aided by Advanced NLP)
      • No current market consensus on Sysomos’ systems accuracy
    • Ability to segment results by both demographic and geographic data
    • Aggregation and analysis of comprehensive results into an accurate cumulative score
    • And of course, a method of tracking ROI (automating integration of off/online data)
    SOCIALtality |
  • 21. Features set based on unmet needs
    • Cross-indexing and results comparison for more accurate trend analysis
    • Ability to incorporate new (selected by user) data sources to the search
    • Intuitive user interface to set individual channel’s importance
    • Ability to incorporate third party results
      • Website/corporate community analytics
      • Automation of hybrid intelligence (traditional media campaign analytics - CPM, direct-response, offer acceptance, coupon redemption)
    • Automated integration of 3rd party CRMs
    • Advanced work-space collaboration interfaces that allow for tagging, follow-up request, action-to-be-taken menu selection, and follow-up tracking (with follow-up result tracking, if possible)
    • Aggregation of results into a single, actionable metric, current (though flawed) offerings include:
      • NetPromoter Score
      • Conversation Impact Score (require time-intensive manual input) (Integrates the brand preference funnel with the NetPromoter score)
      • Social Influencer Marketing Score (A reflection of the total share of consumer conversations a brand has online and the degree to which consumers like or dislike the brand when they talk about it
    SOCIALtality |
  • 22. About SOCIALtality
    • SOCIALtality TM is an enterprise-level, communications measurement, monitoring and analysis solution that quantifies a brand’s ability to attract, engage and retain customers.
    • Our methodology collect both off and online data and aggregates results into a multi-level, performance-analysis methodology called the SOCIALtality Score TM.
    • From big picture to pixel-view, the SOCIALtality Score provides an accurate gauge of performance, a metric correlation to ROI and actionable insight at all levels.
    SOCIALtality |
  • 23. W: www.socialtality.com E: engage@socialtality.com T: @socialtality SOCIALtality |