A person could go mad trying to pinpoint the moment he lost a friend. So seldom does that friend make his feelings clear by sending out an e-mail alert. It’s not just a fact of life, but also a policy on Facebook. While many trivial actions do prompt Facebook to post an alert to all your friends — adding a photo, changing your relationship status, using Fandango to buy tickets to “Paul Blart: Mall Cop” — striking someone off your list simply is not one of them.
There can be no doubt that social marketing has been the hot topic for the last few years, but many marketers still have reservations about seriously investing in the space. Whilst many of the reasons for such reticence can be quickly brushed off (it’s just for kids, it’s a fad, etc…) some deserve more attention. One such reason, which continually crops us, is the issue of measuring the effectiveness of social, and understanding how to make real use of it. There has been some great attempts to try to overcome such reservations recently, including the IAB’s measurement framework, and Nielsen’s Facebook work, but still such concerns persist. It’s for this reason that a bunch of enthusiastic people set-up MeasurementCamp, an informal, open-source event, which was recently relaunched in London. I was lucky enough to be asked to speak at the first of the new MeasurementCamp series, and thought that I would share the topics discussed.
Finally, marketers are acknowledging the necessity of listening to consumers - aka "people" - and brands are adjusting to the social networked environment by opening conversations. Market researchers cannot ignore these developments since they dictate the necessity of understanding peoples' identities, not only their interests. We Are People, Not Data Points - See Us Live
Last month, we reported on a survey that found that 84% of social media programs don’t measure return on investment (ROI). The comments in that post indicated that a lot of individuals and businesses want to be able to measure the ROI of their social media strategies and campaigns, but they don’t know where to start. Companies and executives are finally beginning to really jump on the social media bandwagon, and that’s fantastic. However, for social media to fully work (for everyone), businesses and brands need to be able to evaluate the impact their social media use is having, both positive and negative. Measuring social media ROI isn’t impossible, but it can be difficult because many of the pieces that need to be evaluated are difficult to track. This guide is designed to help you track down those pieces and determine the ROI you’re getting on social media.
Interbrand recently released its 2009 list of the best 100 global brands. Social media monitoring and analytics firm Sysomos took a closer look at this data today. While Interbrand bases its list on criteria such as financial data, international scope and economic value added, Sysomos decided to re-evaluate the top 20 brands by their social media presence on blogs, forums and news sites. Sysomos did not include mentions on Twitter in this study. This obviously led to major changes to Interbrand's list. Google, which placed only 7th on the Top 100 Brands list, ranks 1st when it comes to social media mentions in 2009, while Coca-Cola, the #1 brand on the Interbrand list, ranks only 11th on Sysomos' list. Interbrand's ranking puts Coca Cola, IBM and Microsoft in the top 3, while the top 3 brands with the most social media mentions according to Sysomos are Google, Apple and Microsoft.
The Mac vs. PC war hasn't just played out on TV. It's also the biggest brand battle in social media. For the month ended Sept. 25, Apple and Microsoft finished in the top two spots of the Social Radar Sentiment Index, a social-media analysis of Advertising Age's 200 Megabrands by Infegy. The firm tracks more than 20 million web pages, including all the leading social-media sites, and bases its index on comment volume, percentage of positive mentions and percentage of overall brand mentions within social-media that showed signs of sentiment.
What happens when a social media strategy takes off faster than expected? TGI Friday's found out this month when, after just six days of media support, its new marketing character, Woody, achieved a Facebook promotional goal expected to occur over almost 30 days. The momentum swell that initially buoyed the brand online, in fact, threatened to drag it down -- until some quick thinking helped save the day.
This news might actually sway some of the executives left who still fear the use of social media for business. Research from Penn State found that a full twenty percent of tweets mention specific brand names or products. Out of half a million tweets examined during the study, one fifth were essentially free brand advertising. Those tweets contains a mix of requests for information about specific products as well as responses to those queries from people’s networks, giving companies an unprecedented window into the concerns and questions customers and potential customers have about their products.
Walmart dwarfs Target in size, yet it loses out to its rival when it comes to consumer discussions online. Target consumers are much more likely to speak about their shopping experience, according to online buzz monitor Crimson Hexagon, while chatter about Walmart often veered into discussion of the social implications of the retailing giant when it comes to labor practices and local retailers. It examined online chatter on blogs, Twitter, social networks and message boards for a one-month period beginning in mid-July.