Brand Monitoring
From GE to Target, from IBM to Best Buy, companies of all types and sizes are struggling to quantify the effects of Web 2.0 in their companies. What are the blogs saying? Are they positive or negative? What happens in Second Life? Where are our clients collect? Who are the leaders in the marketspace?The result of this anxiety is a new booming business in "marketspace analysis" to profess, companies to track your brand over time and alert you to news (good or bad) in real time.
Given some of the new findings about buzz in the blogosphere has to ask, are you wasting your time?My take on this is somewhat biased. I believe that all these branded products such as tracking online equivalent of the traditional press-clipping of the monitoring function of public relations firms use to cling to a way of justifying their existence. That said, online brand building is a core competency for today's marketing. What matters is not online buzz which is a temporary spike in attention, but what it does to its buzz in the online ecosystem.
Its competitive position in your ecosystem determines your destiny that leads to the brand monitoring:
• How to compare and its competitors in terms of return on marketing investments and relative share of ecosystems?
• How are the leaders to make money, and what is its focus on the ecosystem?
• What is the maximum potential of your business ecosystem?
• How big is your marketspace-the size of the ecosystem in which you want to compete?
• What parts of the ecosystem are growing fastest?
• Where are you gaining or losing share of the ecosystem or sub-competing in ecosystems?
• What capabilities are creating a competitive advantage for you in the ecosystem?
• What skills should be strengthened or acquired to help you compete in the ecosystem?
Because we could not find anything to help us with these questions, we decided to build ourselves brand monitoring vendors. That's how our Ecosystem Intelligence ™ came into existence:
(i) to help measure a company's position in the ecosystem (s) of competition and
(ii) help improve this position in the marketspace over time
Now let's see some of the competing brand monitoring vendors:
Biz360: provides customer opinion measurement of thousands of expert and consumer product review websites, shopping sites, blogs and message boards
Cymfony: rated highly by analysts of technology, they say "quantify the amount of coverage, as well as get expert qualitative interpretation of the effectiveness of their message is reflected in the traditional media and social."
Skygrid: a search tool that sifts through hundreds of web and media to show only one thing: if the balance of the news about a public company is good or bad, and how the "mood" is changing .
BrandIntel: collects, processes and analyzes online content and applies human analysis of results in context.
Factiva: monitors your competitors, customers and industry, with in-depth research reports and company financial data.
MotiveQuest "sees" the peak of passion "in online conversations to understand the motivations of the customer. Again, a combination of proprietary software and analysts to explore what drives customer behavior.
Nielsen Buzzmetrics: measures consumer-generated media to help companies understand consumer needs, reactions and problems. Using a data warehouse approach to index customer sentiment.
Scout Labs: allows users to track brands and the reactions to the brands. In essence, the company helps companies make sense of positive and negative brand sentiment in blogs, user generated videos and pictures.
Umbria: analyzes social media, including blogs, message boards, Usenet, and product review sites. Umbria human terms also adds to its data reporting.
And there you have it, all variations on the theme of press clippings.
And unfortunately most companies do not understand.
It's not about tracking buzz, it's about starting a conversation for brand monitoring.
Brand Monitoring
From GE to Target, from IBM to Best Buy, companies of all types and sizes are struggling to quantify the effects of Web 2.0 in their companies. What are the blogs saying? Are they positive or negative? What happens in Second Life? Where are our clients collect? Who are the leaders in the marketspace?The result of this anxiety is a new booming business in "marketspace analysis" to profess, companies to track your brand over time and alert you to news (good or bad) in real time.
Given some of the new findings about buzz in the blogosphere has to ask, are you wasting your time?My take on this is somewhat biased. I believe that all these branded products such as tracking online equivalent of the traditional press-clipping of the monitoring function of public relations firms use to cling to a way of justifying their existence. That said, online brand building is a core competency for today's marketing. What matters is not online buzz which is a temporary spike in attention, but what it does to its buzz in the online ecosystem.
Its competitive position in your ecosystem determines your destiny that leads to the brand monitoring:
• How to compare and its competitors in terms of return on marketing investments and relative share of ecosystems?
• How are the leaders to make money, and what is its focus on the ecosystem?
• What is the maximum potential of your business ecosystem?
• How big is your marketspace-the size of the ecosystem in which you want to compete?
• What parts of the ecosystem are growing fastest?
• Where are you gaining or losing share of the ecosystem or sub-competing in ecosystems?
• What capabilities are creating a competitive advantage for you in the ecosystem?
• What skills should be strengthened or acquired to help you compete in the ecosystem?
Because we could not find anything to help us with these questions, we decided to build ourselves brand monitoring vendors. That's how our Ecosystem Intelligence ™ came into existence:
(i) to help measure a company's position in the ecosystem (s) of competition and
(ii) help improve this position in the marketspace over time
Now let's see some of the competing brand monitoring vendors:
Biz360: provides customer opinion measurement of thousands of expert and consumer product review websites, shopping sites, blogs and message boards
Cymfony: rated highly by analysts of technology, they say "quantify the amount of coverage, as well as get expert qualitative interpretation of the effectiveness of their message is reflected in the traditional media and social."
Skygrid: a search tool that sifts through hundreds of web and media to show only one thing: if the balance of the news about a public company is good or bad, and how the "mood" is changing .
BrandIntel: collects, processes and analyzes online content and applies human analysis of results in context.
Factiva: monitors your competitors, customers and industry, with in-depth research reports and company financial data.
MotiveQuest "sees" the peak of passion "in online conversations to understand the motivations of the customer. Again, a combination of proprietary software and analysts to explore what drives customer behavior.
Nielsen Buzzmetrics: measures consumer-generated media to help companies understand consumer needs, reactions and problems. Using a data warehouse approach to index customer sentiment.
Scout Labs: allows users to track brands and the reactions to the brands. In essence, the company helps companies make sense of positive and negative brand sentiment in blogs, user generated videos and pictures.
Umbria: analyzes social media, including blogs, message boards, Usenet, and product review sites. Umbria human terms also adds to its data reporting.
And there you have it, all variations on the theme of press clippings.
And unfortunately most companies do not understand.
It's not about tracking buzz, it's about starting a conversation for brand monitoring.
Brand Monitoring
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