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Seven of the Top Social Media Monitoring Tools

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Real-time conversations are happening RIGHT NOW about your brand in social media. With the right monitoring tool, you'll unlock a steady stream of actionable insights for all aspects of your business.
White Horse shares a proprietary benchmark report of seven top social media monitoring tools to help you pinpoint the best value for your brand. You'll leave with the information you need to put social media conversations to work in 2010 and beyond.

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Seven of the Top Social  Media  Monitoring  Tools Seven of the Top Social Media Monitoring Tools Presentation Transcript

  • © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Social Media Monitoring Tools Benchmarking the Competitive Landscape Eric Anderson, VP of Emerging Media Jamie Beckland, Emerging Media Specialist © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • The reality is, most brands are NOT using social media monitoring tools right now. And generally, their reasons for holding back are valid. © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • For one thing, any social media investment faces scrutiny right now. © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • And the space is still very confusing and unsettled. © 2009 White Horse Productions, Inc. Content may not be reused without permission. And dashboards. Lots and lots of dashboards. Lots of new proprietary terms to learn… Online Promoter Score Sentiment Analysis Brand Association Map (BAM) Community Health Index
  • Nevertheless, we believe that a modest investment in monitoring is the single most important step for brands to take in social media. Why? Four reasons. © 2009 White Horse Productions, Inc. Content may not be reused without permission.
    • 1. The risk is far greater when you don’t monitor every day.
    • Just ask Domino’s.
    •  
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • 2. It’s a very efficient way to measure your brand equity and impact. © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • 3. It’s the best way to do field observations on your target audience. © 2009 White Horse Productions, Inc. Content may not be reused without permission. Tough to do here Easy to do here
    • 4. If knowledge is power, monitoring will allow digital marketers to rule the world.
    •  
    You become the hub of vital information that others in your organization—PR, HR, Branding, and Sales—can use.   © 2009 White Horse Productions, Inc. Content may not be reused without permission. Competitive Insight -- Marketing 5 Testimonial – Marketing/PR 3 Brand Defense – Marketing/PR 1 Employee Issue -- HR 2
  • So, how do you choose a social media monitoring tool? First, two general observations: © 2009 White Horse Productions, Inc. Content may not be reused without permission.
    • In general, all of the tools do a good job of scraping content.. .
    •  
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • And, in general, all of the tools do a poor job of analyzing content. All analysis is keyword-based. Keywords are great for sorting, but nearly useless for picking up the emotional nuances of a conversation. © 2009 White Horse Productions, Inc. Content may not be reused without permission.
    • So, in evaluating these tools, we view their ability to find, sort, present, and export social media content to be much more important than their analytical abilities.*
    •  
    *If you need human analysis, call us instead.   © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Competitive Set © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Social Media Monitoring Tools Cost vs. Feature Set Cost Feature Set © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Evaluation in three main areas:
    • 1. Listening activities
    • 2. Capacity for insights
    • 3. Responding capabilities
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Listening Activities
    • Real-Time (incl. keyword alerts)
    Time-Delayed Only “currently relevant” © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Listening Activities
    • But Real-Time is only useful in some situations:
      • Crisis management/monitoring
      • Customer support
    • Not necessary for:
      • Trend analysis
      • Conversation influencers
      • Sentiment
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Listening Activities
    • RSS-based
    Web Scrapes -includes corporate sites, voting sites, Yellow Pages/Yelp, etc. Data collection method causes a huge price difference. © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Listening Activities
    • Apart from RSS caveat, sources are broadly similar across products.
      • Blogs
      • Blog Comments
      • Forums
      • Boards
      • Community Sites
      • Twitter
      • Publically-available Facebook/MySpace data
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Listening Activities
      • Data set may be slightly different from one product to the next…
      • But this is not a cause for concern because it is a representative set; major hubs are included for all.
      • Big gap: No product has a good handle on video or audio.
      • Can index text around video assets, e.g., titles, descriptions, and comments.
      • No product offers mobile conversation data.
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Capacity for Insights: Reporting Suites © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Reporting Suites
    • One primary goal of these tools is to make meaning out of the information.
    • Not surprisingly, the sophistication of reporting capabilities is a big factor in pricing.
    • Baseline reporting features include:
      • Sentiment Analysis (positive/negative)
      • Topic Trending (conversations over time)
      • Tag Clouds (most popular terms)
      • Term Count Comparisons (bar/pie charts)
      • Drill-down capabilities
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Sentiment Analysis
    • Machine-generated
    • (max 75% accurate)
    • -can be overwritten by user
    Manual Human-sampled None © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • High-End Reporting
    • Cymfony: Human analysis
      • Ethnographic analysis of sample data set leads insight generation
    • Visible: BrandCloud Maps
      • Mapping multiple data points against each other, e.g., sentiment/term density/competitive set
    • Spiral16: Virtualization
      • Shows interactive map of how sites are linked together, indicating high-influence sites
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Responding/Engagement Capabilities No CRM Light CRM Full-blown CRM © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Responding/Engagement Capabilities
    • Light CRM (Radian6 and Scout Labs): assign to internal contacts, follow up, mark complete
    • Full-blown CRM (Visible): All sites’ usernames and passwords stored within system. Users can process engagement directly from Visible platform.
    • No external CRM (e.g., Salesforce) integrations
    • Most important engagement capability:
      • Ability to assign follow-up to a specific user/department
    • We expect this space to continue evolving rapidly as competitors add this functionality.
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Pricing Models
    • Post Count (per subject)
    • Search Count (per subject)
    • High price point products are based on added service
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Final Thoughts
    • Who will use this software in your organization?
      • Your Agency
      • Marketing
      • PR
      • Customer Service
      • Product Development
    • How quickly/widely will it be adopted?
      • Scalability becomes important
      • Multi-user/customized interfaces become crucial
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • Questions? Thank you!
    • Jamie Beckland, Emerging Media Specialist
    • [email_address]
    • Eric Anderson, VP of Emerging Media
    • [email_address]
    • www.w h itehorse.com
    • Twitter: @whitehorsepdx
    • Blog: http://community.whitehorse.com/profiles/blog/list
    © 2009 White Horse Productions, Inc. Content may not be reused without permission.
  • © 2009 White Horse Productions, Inc. Content may not be reused without permission.