Evolution can be defined as a process in which something passes, by degrees, to a more advanced or mature stage. Environmental forces can often act as a catalyst to evolution. Those forces create a need to leverage new traits or entirely new forms that are better suited for the environment. In much the same way, on the very threshold of Scott Kirsner’s Innovation Month in New England, SOCIALtality is revealing it’s new evolution into a more advanced and, in some ways, more mature form.
SOCIALtality’s concept was born during our founder’s work as Systems Director for Fidelity’s Strategic Advisers Group. In this role, Wendy Troupe was tasked with creating technological answers to today’s business questions. Time and time again, one core question presented itself.
How do you quantify the impact of total marketing performance? How do you know which channels drive that comprehensive impact and in what proportion?
Enter social media. It’s explosive adoption and use gave rise to a veritable sea of valuable, publicly-available data points.
As we step into New England’s Innovation Month, it’s important to reflect on social media as one of the most important prime-movers for innovation today. For many companies, the rise of social media presented both opportunity and confusion. Companies now had the ability to engage an audience rather than simply build awareness with one. Yet, this new channel defied traditional method and measurement.
For Wendy Troupe, social media presented the answer she sought. With the right quantitative model and scoring algorithm, social media could provide the missing link that can normalize data and make marketing truly quantifiable. Wendy left Fidelity’s Strategic Advisers group to create SOCIALtality.
She christened her tool SOCIALtality to reflect social media’s prominence in her solution. Alas, due to forces at work in our environment, the name created a bit of a misnomer for us. Many confused us with the proliferation of social media monitoring tools. While Radian 6, Scoutlabs, and SM2 of all play a valuable role in helping companies understand their place in the social media landscape, we felt our tool had a very different benefit.
For social media monitoring tools, social media is both a “means” and an “end”. For SOCIALtality, social media is a large component of our “means” but, understanding total marketing performance in a way that creates a detailed roadmap to optimization is our “end”.
Our environment forced us to adapt, innovate and evolve. We’ve created a name which we feel best illustrates both our capabilities and our mission. Tera is a numerical prefix that denotes “trillion”, a reflection of the vast sea of data out there waiting to be gathered. The word “metric” is defined as a measure for quantitative assessment.
When these words are combined they form our mission and our identity. Terametric: to create a single, meaningful measurement that quantifies performance out of a trillion, valuable data points.
On May 27th, Scott Kirsner called for the technology populace of New England to reflect on what Innovation Month means to each of us. We’ve moved our “identity evolution announcement” forward to answer that query. For Terametric, innovation is really evolution. It’s viewing the environmental forces around you with an opportunistic eye, seeking ways to leverage those forces to create something new and ultimately more focused and meaningful.
Happy Innovation Month to all of New England and the world!
We’re in the process of designing our presence to match our new identity. Our new site is coming soon. We hope you like our new identity, if not, let us know below.
Copyright © 2010-2011 Great Minds Interactive, Inc. | Terametric™ All rights reserved. | 1 Broadway, 14th Floor, Cambridge, MA 02142
Recent Comments