See http://www.webmetricsguru.com/archives/2009/07/forrester-wave%e2%84%a2-social-media-listening-platforms-q1-2009/ and http://www.nielsen-online.com/emc/0901_forrester/The%20Forrester%20Wave%20Listening%20Platforms%20Q1.pdf for the actual results.
Forrester believes the current crop of platforms function in silos. As far as sentiment analysis – it would seem that it needs no formal definition, but it does. In terms of what a conversation is for social media purposes, there is no formal definition, nor is there a formal definition on how conversations are counted and measured.
See my post on http://www.webmetricsguru.com/archives/2009/09/how-people-feel-about-health-care-reform-and-the-public-option/ the public option . Meanwhile, this example, above, compares the same exact queries for a profile on Havana Central restaurant chain in Crimson Hexagon and Alterian – the results don’t come close to matching. … maybe it comes down to picking and choosing the version of the truth you want to believe – similar to Quantum Mechanics or Quantum Physics.
Refer to http://www.webmetricsguru.com/archives/2009/09/social-media-campaigns-take-time-3-months-1-year-for-results/
Refer to http://www.webmetricsguru.com/archives/2009/06/combining-topic-aggregation-from-blogpulse-with-radian6-and-sm2techrigy-going-one-step-further/ A lot of information – much of it meaningless chatter – must use your own insight to make meaning out of it.
Talk about your experiences at the Web Analytics Association leading Social Media.
1. Marshall Sponder
Monitoring Social Media 09
London – November 17 th, 2009
2. Forrester Wave Q1 09
“ …. brand monitoring platforms faithfully report on brand
conversations and competitive news, they do not go far
enough to turn this information into marketing
insights.” – page 2
“…. While vendors aspire to deliver strategic insights to
support the marketing organizations, they are often
stuck in the world of tracking, monitoring, and
delivering dashboards centered on operational
metrics like mentions, reach, and discussion
volume..” Page 3.
3. … Additionally, vendors included met two specific selection criteria:
1) Corporate revenues in excess of $10 million
2) A substantial base of enterprise sized clients. According to
that definition, several vendors that could have potentially
been reviewed were excluded – many of them more
interesting than the main entrants
4. What “conversations are” – except Liz Strauss
formal definition yet on how conversations are measured)
The current definition of positive, negative or neutral
How Listening Platforms integrate with disparate
information collected from call centers, branch offices,
POS systems, direct mail, PPC data, web analytics data,
marketing data, in house data ……
Meaningful consulting services to help businesses engage
with the data they are collecting.
5. Crimson Hexagon
6. Who are the main influencer’s behind Chris Anderson’s FREE book?
TechDirt’s Mike Masnick? Gawker Media’s Ryan Tate? Malcolm Gladwell doing a
favor for his friend, Chris Anderson?
Radian6 Influencer lists take a lot of work to get much useful out of them.
7. Social Media Campaigns take 3 months to 1 year to show tangible
results …. What should we monitor to show success?
No indication of what to measure, no clear baseline on what is
realistic to expect after 3 months, 6 months, 9 months and 1 year.
No clear idea on how much to spend for Social Media
No standards on what Social Media is and how it would be
Marshall – sounds like you are talking
about meme clustering much like
Techmeme does for tech stories, taking
posts with similar themes/topics and
naturally grouping them together
because they contain similar concepts
(but not in pre-specified categories).
Right? – Marcel Lebrun – Radian6
9. Finding Local Blogs and Bloggers
Of the 312 blog entries located in New York – 30 were from
blogs/bloggers that were actually in New York . Had better luck
with local directories and blogger lists.
10. Social Media Monitoring Solutions Wiki -
Often, these tools do the same things (though not the same way) –
confusion abounds. Should I use a free tool or buy an expensive monitoring
11. Web Analytics now has a Standards Doc for basic metrics such
as Visits, Unique Visitors, Bounce Rate, etc.
Social Media - much more problematic, field is still in it’s
infancy, most vendors of SM Tool platforms/vendors do
not want to sit down at the same table and discuss a
common set of standards for a variety of reasons.
What does the future hold?
12. Future Social Media Monitoring 2 years out …..
13. Based on a Forrester Report – I believe the milestones of the
Social Web, above, will also lead to vast improvements in
measurement technology by 2012.
14. ……what if Crimson Hexagon also collected the Twitter accounts of
each opinion along with the opinion mapping? I know they have
the data, with a 75% to 80% accuracy, at this time, of mapping
snippets to the actual opinion categories, and 3% error rate in
drawing out the percentages of each category – why couldn’t they
take a stab at matching it up … webmetricsguru.com blog
15. Google will accelerate the merging of Social Media, Web Analytics and
Search – by integrating Social Media Monitoring into Google Analytics
producing a shakeout in the Monitoring Platform community.
Google’s entrance into the Analytics field through purchasing Urchin in 2005 put
pressure on all the high end WA platforms (Omniture, Coremetrics, WebTrends)
leading to the sale of Omniture to Adobe recently , and declining sales– expect the
same results in SM field
16. ….. Pairing up Web Analytics Guru type, Creative and
Social Media Community Managers into teams to
create and track social media campaigns.
Social Media tools merge more and more with Site
Analytics and Search Tools.
Social Media ROI will began to be “cracked”.
17. Social Media Reputation monitoring on Google SideWiki
Google SearchWiki comment tracking working it’s way into
Radian6 and other Tracking Platforms.
Google Caffeine update continues to accelerate real time
search results and feeds Google with data it can pump into
Social Media Monitoring tools will evolve to monitor
Businesses will adopt Social Media via the Real Time
Search Results – they will have no choice but to do so.
18. Through studying what is happening in Web Analytics
and Search Marketing in the last two years it’s possible
to make some reasoned assumptions on the future of Social
Media Monitoring as a field, within the next two years.
1. Merging Social Media Strategy and Monitoring with
Business Intelligence, much as Web Analytics evolved
toward, today (see
19. 2. Maturation of a common set of Social Media Standard
definitions (i.e.: what is “engagement” and how is it
measured? “What is a conversation, etc) for platforms
and vendors – Scorecarding will evolve towards a
20. 3. Today we’re locked into platforms and vendors even
though they are pulling the same data off the web.
In two years time it’s possible that we will be able to
assemble and customize our own monitoring
platforms with off the shelf, modular tools.
21. 4. Radian6 and Alterian are beginning to receive Facebook
data, expect much more data to be provided, including
meaningful Influencer Mapping.
5. Real time alerts will be built into Facebook – much as they
have now been built into Google Analytics.
6. Social Media budgets will be more closely aligned with
Paid and Organic Search budgets, due to the inclusion of
Social Search in Google and Bing.
7. Monitoring Analytics for Social Media will be funded as
part of the marketing budgets in many corporations.
22. 8. Currently, there is nothing in Social Media that
matches WordTracker for SEO (or a dozen other tools)
– Social Media is about conversations, not driven as
much by keywords.
9. Today, Word Clouds are the closest thing to a keyword
tool for Social Media – but, by 2011, a real set of
keyword tools will be released that will allow for
optimization of Social Media the same way Search
Copy and Search Ads are optimized.
23. Inflection Point – once Social Media is fully accepted – will Social
Media Monitoring be used as commonly as Google Analytics is used
Event Horizon - are we too close to the Social Media and Social
Monitoring to fully predict where it’s going to be in the 2012?