Selecting the Right Social Media Monitoring Tools!
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1 Selecting the Right Social Media Monitoring Tools! Exposing the real weaknesses and strengths of web and enterprise technology products Jarrod Gingras Analyst / Director of Advisory Services Real Story
2 Session Agenda What is Social Media Monitoring? How does it fit into the overall Digital Marketing landscape? Why are people interested in SMM Tools? What is the business case? Deconstruction of a typical SMM product Data collection & Processing Analysis & Presentation Integration (closing the loop) Technical Organizational A brief guide to product selection 2
3 Real Story Group: What We Do Analyze weaknesses and strengths of the tools...and vendors Advise on successful technology selection
4 What Independence Means To Us
5 Research Areas: Content Technologies 5
6 What Independence Means To Us
7 Digital Marketing Landscape 7
8 Overlap 8
9 Digital Marketing Scenarios 9
10 What is Social Media Monitoring? You want to know what people are discussing about your brand Benchmark your offerings with your competitors Gather feedback on your offerings Resolve customer complaints and handle customer service Gather competitive intelligence Find out who influence your brands (positive / negative) Increase leads Run campaigns 10
11 Social Media Monitoring 11
12 Social Media Intelligence 12
13 Social Customer Engagement 13
14 Why are people interested in SMM? What s the (business) case? Social is not broadcast Meet customers in the channel of their choosing The danger of doing nothing Market Intelligence Competitive Intelligence The cost of interactions Customer Support Crisis Management 14
15 Deconstruction of a typical SMM Platform Social Media Monitoring platforms typically consist of two key elements; Data Collection & Processing Sources Monitored Data Management Administration & Configuration Analysis & Presentation Dashboard Analytics & Reporting Engagement Alerting 15
16 SMM: Data Collection & Processing Sources Monitored; All tools will talk of content sources in the millions Websites Blogs / Blog Hosts (Blogger, Wordpress, Tumblr) Video/Audio sharing sites (YouTube, Daily Motion) Microblogging (Twitter) Social Networking (Facebook, LinkedIn, Google+) 16
17 SMM: Data Collection & Processing Sources Monitored; The devil is in the detail Are these sources fixed? Can you create your own? Do they include regional players? Don t be blinded by numbers Wordpress ALONE can number millions Breadth!= Quality For B2B, numbers can be meaningless 17
18 SMM: Data Collection & Processing Data Management; Signal to Noise Ratio De-duplication generally required The Like & the RT Think about your business scenarios Processing & Identification Extraction of meaning (in itself a HUGE topic) 18
19 SMM: Data Collection & Processing Administration & Configuration Create datasets (sources) for analysis Geography, Language etc Base level queries 19
20 SMM: Analysis & Presentation Dashboard Provides a view on datasets Customization likely to be key when binding to a business process 20
21 SMM: Analysis & Presentation Reporting & Analytics The real heart of the system Major differentiator between pure monitoring & intelligence tools Sentiment Analysis Generally at the lower end of accuracy rates for analytics tools Most engines OEM d Highly language dependent Native language Anti-Language Language compression Sampling results vital to dismiss false positives etc 21
22 SMM: Analysis & Presentation 22
23 SMM: Analysis & Presentation 23
24 SMM: Analysis & Presentation Key elements to consider; What types of metrics are available? Can you define your own metrics? Can you define ad-hoc reports if the out-of-the-box reports are not enough for you? Can you export reports to external systems? Can you drill down progressively? Can the tool do sentiment analysis? Can it do in your languages? Is it accurate enough for you? Is the sentiment analysis based on sentiment of a post or a sentence? Can it identify influencers? Can you manage influencers? Can you filter and segment influencers? Can the tool do trend analysis? 24
25 SMM: Analysis & Presentation Engagement & Alerting Engagement = closing the social loop 25
26 SMM: Analysis & Presentation Engagement considerations Routing/joining contact to CRM Subsequent tracking of case Internally (e.g. customer support) Externally (e.g. via customer chosen channel) Alerting How do you know a conversation has started? Alerting within SMM vs outside platform Most, if not all weak on latter (e.g. notifications) 26
27 SMM: Integration Integration = closing the technical loop Typical contemporary digital marketing toolkit; WCXM platform Marketing Automation platform Web Analytics Service CRM Tool Social Media Monitoring and Intelligence Service 27
28 SMM: Integration CRM is central hub for a field marketer SMM vendors will offer connectors to a limited range of CRM vendors Salesforce (plus maybe MS Dynamics, Oracle Seibel) Connectors typically uni-directional SMM -> CRM Salesforce can be especially tricky due to batch approach Managing events is a mix of technical / organizational Creating alerts as to new event and triggering response Managing human process that underpins this also vital As ever, APIs!= Lego Don t assume even single vendor offerings are well integrated 28
29 Real Story Vendor Procurement (RSVP) Overview Needs Analysis Scenario Development Market Analysis RFP / Tender Demos & POC Selection
30 Buying Enterprise Software
31 Testable process Test via scenarios in RFP Test via custom demos Test via head-tohead pilots
32 SMM: Selection Specific elements to consider Language (especially with reference to sentiment) Customization of sources to meet business need How are you going to close the loop? Technically? Organizationally? Points to remember Market is immature; Technically Operationally Highly acquisitional 32
33 Let s Stay in Touch Get a free sample of our evaluation research:" Purchase any research stream: Contact me directly: jarrodgingras@realstorygroup.com
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