Social media networking is a relatively new type of technology that brings together consumer data in a way that has never been done before. With these companies now collecting personalized data from a good chunk of the worlds population (twitter approaching 1 billion users) it is an increasingly important avenue for businesses to utilize.
Social media monitoring companies make it considerably easier for a company to make sense of the vast amount of data that is being input by the second. They help businesses answer age old questions such as “How does the public like our new product?” or “Is our new ad campaign gaining traction?”. Businesses pay these third party companies so they can acquire useable breakdowns of data which can be useful in many different aspects of the organization. While many are paid subscription based, these social monitoring companies are not all paid services. There are free services such ashttp://backtweets.com/ and even http://www.google.com/alerts that search and produce breakdowns of data for free.
Take for example Gardener’s Supply, the largest direct marketing gardening supply company in the United States. Their marketing department utilizes a third party company called marketwire to measures success using several metrics: number of replies to emails, which stories are written about most, and how often the stories are retweeted. In addition to this analysis, the company was looking for a solution that would allow bloggers and other gardening focused journalists to easily find stories, images and video. For this they were able to use another marketwire service called ‘Marketwire Impress’ which aggregates blog posts and social media into one location, dubbed the “newsroom”.[1]
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