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Posts Tagged ‘Social Intelligence’

Are You a Deadly Sinner?

Posted in Social Intelligence, Social Media Metrics, Social Media ROI, Strategy and Analysis by Kim Cole on January 29th, 2011

I’m talking about the deadly sin of Pride of course. Maybe we should remove Pride from the Deadly Sin list when it comes to social media marketing because you can’t be successful without looking in the mirror every now and then.

In fact, a study recently released by the University of Massachusetts at Dartmouth’s Center for Marketing Research took an in-depth look at the use of social medial in fast-growing corporations. One of the interesting questions they posed was whether or not the participants monitor their company name or brand in social media. The number is up from last year to 70%.

But is just monitoring your company name and brand enough? Probably not. To really understand your reach and influence in social media you should be monitoring a host of metrics. There is a plethora of metrics that measure your performance on Social Media channels and they fall into three general categories: inbound, outbound, and social Intelligence. (Click the links for examples.)

· An Outbound metric measures the marketing activities that you generate or send out within the various social media channels. This constitutes your investment or costs.

· An Inbound metric captures responses resulting from your outbound social media activities and measures your brand/company’s impact in social media or in other words, what is said about your company. This is your return.

· Social Intelligence is a metric that meshes together sentiment, engagement, retention, loyalty, reach and influence to give you an idea what the community is feeling about your brand or company.

If you’re effectively measuring these three areas, you should have a good idea if your social media marketing efforts are helping you reach your company goals. There are many monitoring tools that can help you optimize your efforts as well.

What are your favorite things to monitor about your company or brand? Please share them with us!

Tags: Engagement, inbound metrics, marketing channel, marketing investment, metrics, outbound metrics, Social Intelligence, Social Media Strategy
Posted in Social Intelligence, Social Media Metrics, Social Media ROI, Strategy and Analysis | View Comments

Social Intelligence is Picking Up Steam

Posted in Uncategorized by Matt Carter on June 16th, 2010

The concept of Social Intelligence seems to be gathering some steam lately. We first discussed the concept of Social Intelligence in our 1/25/2010 blog post called, “What the @%# is a Social Intelligence Engine”.

In this posting, we published the chart below, which pairs a company’s social media development with the tool that is most relevant to their needs.

As a company’s understanding and social media needs mature, they require an increasingly more sophisticated means of integrating social media into their marketing channel measurement mix.

Social Intelligence isn’t measuring social media in terms of social media impact alone(share of voice, conversation index, etc.) That’s what happens in Stages 2 (monitoring) and Stage 3(Listening). When we speak of Social Intelligence, we mean using social media and its sea of relevant customer data as a way to better measure and optimize marketing channels and total marketing performance. We gave the name “Social Intelligence Engine” to our own tool, which is designed to do just that.

On March 12, Forrester Analyst, Zach Hofer-Shall presented a report called “Defining Social Intelligence“. Zach talked about “monitoring” as a passive or reactive practice and the development of social intelligence as a pathway to proactive marketing optimization. In this report, Zach defined the concept of Social Intelligence much more succinctly than us:

“Social intelligence is defined as the management and analysis of customer data from social sources, used to activate and recalibrate marketing or business programs.”

Since March, the concept of Social Intelligence has slowly begun to take hold and companies are beginning to accept the methodology’s validity — using data from social media to analyze and quantify marketing performance and dial it in accordingly. In fact, only yesterday, global ratings firm Neilsen announced a joint venture with research giant, Mckinsey to create NM Incite, a marketing consulting group powered by social intelligence.

These developments can only be good news for us here at Terametric. We’ve come through our initial pilot engagements and have used the learning to further refine our Social Intelligence Engine. Stay tuned as we’ll soon begin our limited beta. If your organization is interested in being a part of that beta and getting ahead of the Social Intelligence curve, please sign up here.

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