At Social Media Marketing 2010 (San Francisco) on Thursday, Maria Ogneva from Attensity gave an excellent introduction to social media monitoring (see my Social Media Marketing event summary, which includes her presentation). In addition to setting out the ideal process for monitoring – listen, analyse, relate, act – and highlighting the need to monitor your own [...]
Continuing our pre-view of workshops at Monitoring Social Media Bootcamp next week, Katy Howell (Managing Director, Immediate Future) will be hosting a hugely valuable session on how to measure the success of your social media monitoring campaigns. It’s going to be quite a technical session, including frameworks for KPI’s, calculations for ROI and lots of case studies from brands such as Sony, Bailey’s and Adidas.
With just two weeks until Monitoring Social Media Bootcamp, we thought we’d give you a taster of the event with a series of posts about the workshops we’ll be having. First up is Marshall Sponder’s session called “How to Monitor Sentiment and Benefit from the Insight this Provides”.
So who’s making the money in social media measurement and monitoring? I was on a panel asked this question at the Measurement & Monitoring Meetup on Friday. It’s essentially another take on the ROI of social media monitoring question, but with the focus widened to include suppliers and consultants, and at first sight it’s a rather annoying question. Having established at the Chinwag event on Tuesday that social media isn’t (necessarily) all about financial ROI, to be asked where the money is in relation to social media monitoring tools seems regressive.
What is the ROI of social media? Although I’ve heard that question a thousand times in the last year, I’ve never heard (or given) a particularly convincing answer. So I’m pleased to report that at the “Where’s the Money” Chinwag event last night, at which I spoke on the panel, I think we got at least halfway towards a comprehensive answer.
In the run up to Monitoring Social Media 09 I’ve been checking out some of the free or low-cost social media monitoring solutions. I’ve been hearing that many of the top marketing agencies still use free monitoring tools: but which ones? And how do they compare to the high-end paid-for solutions like Visible Technologies, Brandwatch etc?
A social media report claims that the vast majority of companies are still not adequately measuring the success of their social media campaigns. The MarketingProfs study of 338 companies found that “21% of marketers say they are now adequately measuring the impact of social-media campaigns in terms of tangible results”, which also means 79% aren’t.