In today’s connected world, social media is a powerful platform to share information on a near real-time basis, or create a buzz about a new product/service launched. In order to listen to what your customers, competitors and critics are saying about your brand and build a community around it; organizations need social media monitoring tools. Organizations around the world offer hundreds of social media monitoring tools to analyze, measure, respond and monitor engagements on social media.
According to a survey by Stanford Graduate School of Business, 90% of organizations understand the impact of social media; only 32% of them monitor social media to detect risks to their business activities and 14% use metrics from social media to measure corporate performance.
Social media monitoring tools are important to analyze, monitor, respond and measure brand importance. They are a primary source for business intelligence. However, determining the right tool for the organization is difficult. Organizations must clearly analyze its objectives and evaluate the tools available on the following basis:
The social media monitoring tool must be able to measure the number of likes, mentions, followers and other statistics. On an average, most of the tools available in the market capture only 65% of the conversations done on social media. The organization must make sure that the tool exceeds or meets its expectations and needs.
Social media reports is an important feature that most of the organizations look for in a monitoring tool. Analytical and sentiment reports help organizations visually track the success of the campaign and manage comments through the social media realm.
Engagement and Sentiment Analysis
The tool must be able to measure the re-tweets, comments, number of clicks that are directed to the website, number of users who read and download the collaterals, and anything else that requires the user to engage with the organization.
The organization may also want to monitor public opinion of the company and its products, and positive or negative sentiments on the social media channels. The social media monitoring tools must be able to track these social media sentiments and find the key influencers.
The organization must ensure that the tool chosen tracks metrics in real-time. Negative sentiment/comment hours later will be difficult to handle and will harm the reputation of the company.
Ease of Use
The social media monitoring tool must fit the aptitude and business needs of the organization. The tool must be intuitive, simple, and easy to understand and set-up. The people involved must be able to read and understand the metrics derived out of the tool.
Popular Social Media Monitoring Tools
Radian6 helps organizations monitor, analyze, manage and report social media conversations across more than 150 million social media channels like Facebook, Twitter, Flickr, LinkedIn, blogs and forums. This social media monitoring tool in multiple languages helps brands to listen to what the customers, competitors and influencers say, and engage in conversations. It provides real-time insights and coordinates internal responses to external activity in one go.
Radian6 dashboard integrates Customer Relationship Management (CRM), web analytics and other enterprise systems, and helps brands to comprehensively track and measure conversations and determine social media ROI. The reports can be customized and generated by Radian6 on the basis of geography, influence, sentiment etc.
Radian6 can be used for multiple purposes – Managing and monitoring conversations, generating sales leads, extracting information about competitors, understanding industry trends and managing situations of crisis.
Sysomos is a powerful social media monitoring service with powerful features, functions and tools. The tools and technology of Sysomos helps in carrying out instant real-time search, monitor competitors, keywords, phrases and trends, perform in-depth sentiment evaluation and text analytics, and identify key influencers. Advanced language processing technology is used by Sysomos to dig deep into the conversations on social media channels and identify and separate positive, negative and neutral comments.
Sysomos performs a four-step process:
- Data Collection: The data collected is converted to pure data.
- Information Processing: Sysomos processes the data gathered from all the social media platforms and combs it for intelligence and insight.
- Data Analysis: The collected data is analyzed using automatic sentiment processor based on demographics, sentiments, key influencers, geographic location etc.
- Report generation: Graphs and charts representing data are generated. These reports can help organizations realize their place in the market as compared to their competitors.
HootSuite is a social media engagement system that enables organizations to collaboratively execute campaigns across social media networks such as Twitter, Facebook, LinkedIn, Google+, WordPress, MySpace, FourSquare and Mixi from one dashboard.
Klout finds influencers on social media channels so that enterprises can target and empower them to become brand advocates. This social media monitoring tool reviews social media activity, engagement, influence, authority, etc. on Twitter, Facebook, Google+, LinkedIn, Foursquare, Wikipedia, and Instagram.
TweetDeck social media monitoring tool is similar to HootSuite, and enables organizations to monitor and manage streams of data from multiple Twitter accounts from a single dashboard. It interfaces with the Twitter API to allow users to send and receive tweets, schedule and monitor tweets, report spam, follow and block users, track mentions, people and keywords, and view profiles.
Making the Tough Choice
The adoption of social media is rapidly changing across industries. Organizations are putting serious time and effort in creating social media presence with a strong focus on handling negative sentiments using the right kind of monitoring tools. A study has revealed that the Airline industry holds strong with an average of 17% of negative comments on social media as compared to 5.7% of the overall market average.
To deal with negative online sentiments, many social media monitoring tools are available in the market. Each of the tools distils data in different ways. In order to generate more revenue and establish the brand, organizations must utilize tools that can mine and analyze data relevant to the social media marketing plan and help them make intelligent business decisions.