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09 Sep

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Social Media Monitoring Isn’t Enough – Are You Missing This Critical Process?

September 9, 2011 | By | One Comment

You’ve got the social media metrics. Now what? It seems like many companies may be asking themselves that same question, according to a new report from the Altimeter Group. The study found that too many companies do not utilize their social media feedback to solve the core issues that improve products and services. The analysts say that 66% of all companies don’t have a process to tie feedback to improvement. They write:

Forward-looking companies will define a process to intake customer insights; that is, collect and develop insights from customer sentiment and feedback in social channels, and refer this information to the appropriate product teams to act upon.”

For more info, check out Jeremiah Owyang on Web Strategy, and check out the full report on Slideshare: “Social Business Readiness: How Advanced Companies Prepare Internally.”

Also check out our earlier post about the Altimeter Group’s report: “Is Your Brand Inviting Social Media Disaster?

Thoughts or comments?

Image: sheelamohan / FreeDigitalPhotos.net

Comments

  1. “You’ve got the social media metrics. Now what?”

    More and more companies are starting to ask this question as they parse through mentions of their brand using social media monitoring tools. I have all this great data, fancy charts, cool graphs, and even the sentiment around my products and services in the social web. What does it all mean to me?

    The void social media monitoring leaves is a simple one, but could just be the most important stone left un-turned. How do I correlate social data with my key business metrics? In other words, how do I take all this chatter surrounding my company and tie it to my business? How do I use this data to MAKE MORE MONEY?!

    This question is on the mind of executives around the world. The answer? Social media business intelligence. Rather than just gathering and computing sentiment of mentions, social media business intelligence is at the crossroads of social data and your business. Want to see how the sentiment surrounding your TV shows actually ties in to Nielsen ratings of your TV network? Done. Want to understand how cumulative sentiment affects your stock price over an 18 month period? Done. Want to tie in any and all social data to your actualy business processes? Done.

    Social media business intelligence takes a step deeper in to the social analytics realm. By tying in everything you hear and see online with your business KPIs, you get a clearer picture of your company’s position in the market. You get the results you need to successfully run your business and keep your boss grinning from ear to ear.

    Amy, thanks for the post. Analysis of such a fresh industry is always warmly welcomed, especially since we are all trying to decipher how it affects the everyday aspects of our businesses.

    – Sergei Dolukhanov
    @sdolukhanov (twitter)

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