7 Business Reasons for Social Media Monitoring

7 Ways to UseSocial Media Monitoring as an effective business tool
Connie Bensen
Director of Community Strategy, Alterian
@cbensen
October 6, 2009

Agenda
Seven Business Reasons for Monitoring
Choosing Tools
Analyzing the Data
ROI and Benefits of Monitoring Social Media
Real World Examples

Seven Business Reasons
Public Relations / Crisis
Search Engine Optimization
Corporate Marketing / Brand Building
Industry / Competitive Insight
Customer Service
Identify New Markets
Lead Generation
Monitoring
Social Media

Create an integrated strategy.

Wikis
Blogs
Twitter
Facebook
Message Boards
Your Site
Web Analytics
YouTube
LinkedIn
Everything is Measurable

Tools ???

Social Media Monitoring Tools

The SM2 Technology Components
Collect
Techrigy indexes the entire social media universe, across the globe and across all platforms.
Store
Techrigy’sSocial Media WarehouseSM, created in 2007, contains over 3billion social media mentions, blogs, tweets, posts, images and conversations.
Understand
An incredibly powerful and intuitive tool, the Techrigy SM2 User Interface enables clients to visualize, analyze, communicate and share findings. Turn content into actionable insight.

Analyzing the Data
Volume over time
Volume by channel/source
Textual analysis of themes
& author tags
Demographic Information
& Popularity
Location of online communities
Physical location of creators of the content
Sentiment and Tone

Analysis Process

Customer Service
Lead Generation
1

Public Relations / Brand Crisis
Otto-Versand ~ Mac Laptops for 49 Euros

ROI: % reduction in cost of time saved to gather and review conversations

ROI: % reduction in cost of time to benchmark and audit

Customer Service
Lead Generation
2

ROI: % increased SEO effectiveness in using words/phrases that consumers are searching for

Customer Service
Lead Generation
3

McCafe and Starbucks
ROI: % faster rate of return on marketing and ad spend

Customer Service
Lead Generation
4

Starbucks
ROI: Insight into competitor’s strengths/weaknesses

Customer Service
Lead Generation
5

ROI: increased customer satisfaction, brand loyalty & awareness

Customer Service
Lead Generation
6

ROI: Identify new markets by location physically & online

Customer Service
Lead Generation
7

Lead Generation
“buy” and “wcm”
“recommend” and “wcm”
“recommendation” and “wcm”
“rfp” and “wcm”
“selection” and “wcm”
“shortlist” and “wcm”
“suggest” and “wcm”
ROI: Lower customer acquisition costs due to higher quality leads (reduced need for cold calling)

Tips for Success
Choose tools that suit your needs
Start with a small project
Listen and have a strategy before engaging
Look for spikes in conversations and patterns
Identify trending topics
Evaluate what’s working, drop what’s not

You Can Measure Everything!
Step 1: Define Business Objectives & Decide on Priorities
Step 2: Choose What to Measure & Tools
Quantitative
Qualitative
Step 3: Analyze: Benchmark & Identify Trends
Step 4: Create a strategy & engage
Step 5: What’s working & what’s not

Resources
Putting the Public Back in Public Relations by Brian Solis and Deidre Breakenridge
Measuring Public Relationships by Katie Delahaye Paine
Groundswell by Charlene Li and Josh Bernoff
Personality Not Included by RohitBhargava

Connie Bensen
Director of Community Strategy
Connie.Bensen@alterian.com
Twitter: @cbensen
http://alterian.com

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7 Business Reasons for Social Media Monitoring

by Connie Bensen on Oct 08, 2009

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7 Business Reasons for Social Media Monitoring — Presentation Transcript