Over the next three days, I’ll talk about using social media to listen to your audience, adjust your brand message, and stop crises from adversely affecting your brand. Each day I’ll list a few services to help you in that process.
• Discover new Twitter leads and potential Facebook fans
• Follow conversations about your brand or product as they happen
• Set up alerts that allow you to monitor your brand, topic, or product
• Measures statistical patterns in words used in blogs, forums, Tweets, etc.
• Monitor real-time, global conversations that affect your brand
• Monitor the ROI of online marketing and PR investment
There’s also a video on their site.
• Monitor wikis, video sharing, and custom RSS feeds
• Monitor what people are saying in over 50 languages
• Monitor historical trends going back to 2005
Imagine paying thousands of dollars for an advertisement during the David Letterman Show. You can use a service like Nielsen Rating to conduct a study of your potential and actual audience based on demographics. The problem is that just because a certain population set’s televisions are on doesn’t mean they’re watching or paying attention to the commercial. Web analytics gets a little more personal, in that it not only allows you to monitor the segment of a given population that comes to your website, but you can also monitor things like bounce and click rate. Therein lies the problem that people Web surf like they channel surf. Social media monitoring allows you to identify specific people within a given population who engage with your message, how they engage with your message, whether or not they engage with your competitor’s message, and much more.
Traditional marketing measures potential ROI according to what has and has not worked. Web marketing measures potential ROI according to the Web statistics of anonymous users’ computers. Social media marketing monitors actual ROI according to the ability to engage with one’s audience through the social Web. While all three forms of marketing require financial and time investments, traditional marketing and Web marketing require greater financial investments, whereas social media marketing requires a greater time investment.
In many cases, people are so used to the greater financial investment of traditional and Web marketing that they can’t imagine that free or low-cost social media marketing would have long-term ROI. Those who are skeptical of the value of using social media marketing must understand that since the values of the investments are different, the returns on those investments are also different.
Come back tomorrow, and I’ll tell you more about those differences.