Blog – Social Media Analytics

Social Media Analytics

October 15th, 2010. – By: Bill MacKay

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What's being said about your brand?

For some, the concept of Social Media and the need to be engaged online is difficult to grasp.  For that group, the idea behind Social Media Analytics must be incomprehensible.  However, as an industry, Social Media Analytics is experiencing growth and that industry is the analytics what is being said about your brand.

An entry level to Social Media Analytics could something like Google Alerts or Social Mention, where search terms are entered like a company name for example. Options are provided to search news, blogs, video, discussions or everything and results can then be delivered to an email address. This will provide some basic information of mentions but there are other solutions available that get very sophisticated.

That sophistication will vary from vendor to vendor, however there will be some commonalities. At a minimum it will include the capture of data from social media channels, some offering hundreds of channels. Some will offer the ability to score what’s being said to make the data more meaningful. A brand could also determine key influencers to keep track of the buzz surrounding your brand and perhaps influence or correct perceptions. Radian6, Alterian, Dialogix, Collective Intellect, RightNow, Post Rank and Buzzient are all examples of Social Media Analytic providers. A quick search using Social Media Analytics will provide over one hundred such products.

Only a few analytic offerings will provide some history of what has been said about your brand for the last few years and that’s where some real value can be obtained.

For example, if two years ago a new product or service was offered, a brand could determine what buzz was generated at that time, whether the product or service offering was well received or not and what could be done to make potential changes or avoid making the same mistakes when launching the next gen.

To take that level of sophistication a step further, Interactive Intelligence recently announced integration with Buzzient that delivers social media data operationally to the contact center. This allows the brand to uncover posts about service issues, or dissatisfaction allowing the brand to catch and resolve issues before they result re-tweets or additional real timesharing. Increased sales could also be driven by using analytics to identify potential interest in a product or service.

The phenomenon of Social Media had changed the landscape of business forever. Social Media users are spending more time on line and are sharing more information about experiences with brands than ever before. The challenge is to find out what’s being said about your brand and then be able to have the business intelligence to better manage your brand.

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