Web Business by Ken Burbary

Social 2011 Recap, the Radian6 User Conference

Last week I had the pleasure of attending and participating in Social 2011, the first ever Radian6 User Conference. I’m happy to report it was a smashing success, on many levels. Don’t jump to conclusions, this wasn’t an analyst / data geek event. While social listening platforms like Radian6 are certainly used by these roles, this conference targeted marketing executives, strategists, brand managers and community managers as well. It was a terrific blend of practical know-how, detail combined with strategy and insights for operationalizing social business. Radian6 spent time announcing some big news, and launching new products that enable putting social business to work more easily. The event also included stellar keynotes from Mitch Joel and Paul Greenberg in particular, along with informative and entertaining panels (the panel I was on about ROI turned into some heated debate) through the day. To give you an idea how active and enthusiastic the crowd was, in the 2 days that the event spanned, there were over 15,000 mentions on Twitter using the #social2011 hashtag.

The main highlights of course centered around product news about the Radian6 platform. Let’s take a quick look at them and the impact they will have.

Insights Platform – Radian6 launched a full blown insights engine. It extracts more relevant meaning from the mountains of social data that are harvested via social listening. Instead of being limited  to knowing share of voice or total volume(s) of relevant conversation, one can now easily (with a click or two) drill-down into the data on a relevant topic and get much more granular, to answer very specific questions about sub-topics, themes, etc… on a given bit of conversation. I’d never do it justice in a paragraph or two, so take a look at the product overview video found here, as it will surely impress.

Social Media Listening Still Needs to Grow Up

Social Media participation continues to mature and evolve the ways in which we connect and deepen relationships with one another, and the brands we choose to let in our life and interact with. However, despite all the efforts thus far, our ability to monitor and understand what happens in social media isn’t keeping pace with usage.

eMarketer recently published findings from a InformationWeek Analytics survey of Enterprise professionals about their current Social Media Listening efforts, and the results were disappointing to me.

The most common method of monitoring is to rely on basic notifications, like Google Alerts, as a rudimentary brand monitoring solution. Despite the shortcomings of this method, 44% of respondents aren’t even doing this, the most basic form of social listening.

After this comes outsourcing to a full service vendor or using specialized social media listening tools (like Radian6, SM2, ListenLogic) with internal resources at 16% and 15% respectively. A full 40% of all respondents didn’t know what, if any, approach their company is taking when it comes to social listening. Either the survey respondents aren’t plugged into what’s happening in the company in this area (a possibility), or there is evidence of a problem within the organization (most likely in my experience).

The survey also looked at a company’s process for responding to specific types of online responses by consumers. Unsurprisingly, the number of organizations that have developed specific processes and capabilities to handle online responses like customer complaints on social networks, inappropriate employee comments, comments on official owned-media sites is also very low. Just 14% of companies have defined how to appropriately handle a negative customer comment on their Facebook page(s). Only 12% have done so for Twitter (probably something Kenneth Cole could stand to do given the uproar over their recent tweet).

What does all this mean? Several possibilities:

1. Companies still lack the necessary education and knowledge of how to leverage the wealth of listening solutions to accurately monitor and understand online customer interactions and responses
2. Companies still lack the resources required to properly staff and implement adequate listening capabilities
3. Companies are struggling with “shiny object syndrome”. There is no lack of social listening solutions/providers (full list here at the SMM Wiki). Understanding listening goals/objectives, needs and mapping them to the potential set of listening vendors requires time and effort. It’s much easier to sit through product demonstrations full of social metrics eye candy, and be wowed by their reporting and analytics capabilities rather than do the less glorious but essential planning work.

Fear not though, there is light at the end of the social listening tunnel! Creating a strategic listening plan isn’t impossible, nor difficult if the right steps are taken. Adopt a comprehensive framework to guide your social listening efforts across the company. Several options exist, like the Social Analytics Lifecycle.

The most important point I can emphasize to get social listening to mature within your organization, is to start with specific business processes that listening will support and improve. Almost every organization has sales, marketing, customer support, human resources, etc… Each of these departments can benefit from social listening, if done correctly. Want examples? Check out the 6 Areas of Your Business That Should Be Listening post by Amber Naslund over at the Brass Tack Thinking blog. It will help set you out on the right direction to  get started, but what if you’re already doing “something” and want to optimize or improve it. Then go read Six Steps to Better Social Media Listening by Chuck Hemann at the Analytics is King blog. Finally, THEN go down the tool path if you’re going to take on social listening yourself, or find a full service partner that has the diversity of experience in platforms and top notch analysts that deliver meaningful insights and information (remember data is worthless unless it is transformed into insights through analysis).

What is your organization doing in social listening? What are your most difficult obstacles to overcome?

Social Media Monitoring Wiki Update

When the Social Media Monitoring Tools & Solutions Wiki launched a little more than two and half weeks ago, I wasn’t sure what the response from the social media community would be. To say the least, it has been overwhelming. I’m grateful to all the people that volunteered to expand on the original list, and submitted additions of their own. In a short time, we’ve built up a comprehensive set of world class monitoring tools from companies that span the globe. I’ve already received a deluge of feedback, requests for more information, and ideas to expand on what is already there.

Now, I’m happy to announce that I’ve been able to add some new information based on what was the number 1 most requested addition. I’ve added a new set of information for each tool about whether it is free or a paid commercial solution. You can now easily scan and sort the list by Paid/Free to select a sub group of tools to evaluate.

As of right now, the social media monitoring wiki contains 34 free tools (wow!) that you can use to listen to online conversations with, along with 60 paid commercial tools, ranging from inexpensive and lightweight for smaller tasks, to heavy duty full service platforms. I hope you can use this new information to more informed decisions when evaluating social media monitoring tools.

Next Steps:

There are many other information requests and additions that I am considering (based on your feedback), but the biggest news is about adding sub-pages for each tool, containing specific information about costs, usage, frequency of data updates, real-time vs batch, ease of use and quality of support to name a few. Please continue to submit feedback by emailing: [email protected]

And thank you for the support, it is sincerely appreciated!