Introduction to Social Media Analysis
People are talking about you—your company, your products, your people. With modern, digital communications tools, they're publishing their thoughts to a worldwide audience. They write on blogs and in online communities, and they share pictures and videos on popular sites, such as MySpace and YouTube. Sometimes, the issues they raise show up on the front page of major newspapers. Paying attention to these online conversations is a new imperative for anyone who cares about their company's reputation.
Social media analysis is the broad term for the services and tools you will use to pay attention. It incorporates monitoring, measuring and analyzing Internet-based social media, usually combining automated systems and human insight to turn raw data into useful information.
It's most often used in marketing and communications/PR functions, which is why some people call it brand monitoring. But there's more to it than monitoring, and it's not used only in marketing. Customer service, product groups, competitive intelligence, and investor relations—or any other "relations" function—will find useful information. Specialized applications for institutional investors, lenders and supply-chain managers are also available. If you use information, social media analysis opens vast new sources.
Free services
Depending on your needs and exposure, you may be able to do your own social media analysis. You'll use publicly-available search services, such as Google and Technorati, and free or low-cost software, such as RSS readers, to collect and sort data. If you're comfortable with installing and configuring software, the open-source BuzzMonitor provides interesting capabilities.
The do-it-yourself approach works for some companies, if you have the time and skill, and if the volume of the online discussion isn't too great. As part of our consulting services, Social Target will help you decide if it's right for you, and we'll help you get started.
Commercial services
Social media analysis services from commercial vendors offer two major advantages over free services: their tools are more advanced and better adapted to large-scale needs, and most offer a layer of human analysis that makes the information more useful. The services vary by provider (understanding the differences is a major focus of the Guide to Social Media Analysis), but the list typically looks something like this:
- Routine monitoring of social media sources
- Analysis of social media content to identify leading issues and sentiment or tone
- Charts and visualizations
- Trend analysis
- Identification and profiles of influential bloggers/communities
- Analyst reports summarizing the data and (usually) providing recommendations
- Web-based dashboard for drill-down analysis and report generation
Some companies focus more on collecting information, while others emphasize interpretation and advice. Eventually, data from social media must lead to actionable information for decisionmakers. Deciding on your preference for interactive tools or finished reports, the level of interpretation you want with your data, and how much advice you want with your information, will help you find the right vendor.
More than blog monitoring
You may have heard about blog monitoring from an article or anecdote about a company's problems that started with a blog post. There's more to social media than blogs, and social media analysis covers more than blog monitoring. Available commercial services include monitoring and analysis of:
- Blog posts
- Blog comments
- Discussion boards
- Usenet
- Product review sites
- Photo sharing (e.g., Flickr)
- Video sharing (e.g.,YouTube)
- Podcasts
- Social networks
- Social news (e.g., Digg, Reddit)
- Microblogging (e.g., Twitter)
Finding out where to listen to, engage, and speak in social media is a critical piece of your social media strategy.
Some companies combine social media analysis with traditional media analysis, including print media, television, and radio. Some will use their tools to analyze client-provided data, such as customer service emails or private, online communities.
Independent, strategic advice
Social Target research and consulting are geared toward helping you develop your social media strategy, with an emphasis on listening and engaging strategies and processes. The Guide to Social Media Analysis is our global reference to social media analysis services and companies. If you need personalized support for charting your social media strategy or finding the right vendors, contact us for a quote.