Back in September, the Dachis Group introduced us to its Social Business Index -- a tool based on deep big data analysis of a company’s global engagement designed to provide companies with insight on optimizing their social spend. This week it has launched a new online service called the Social Performance Monitor (SPM).
The Social Performance Monitor aims to combine big data and social analytics to meaningfully measure performance of social media marketing so companies can measure their social media's impact on brand performance.
With SPM, organizations can gain insight into the business benefits delivered by social across brand marketing business outcomes including what Dachis Group calls Brand Awareness, Brand Love, Brand Mindshare and Brand Advocacy. SPM isolates the specific impact of brand marketing initiatives by leveraging a few specific insights, including:
- Performance Insights: Metrics and underlying measures correlated to brand marketing business outcomes for the specific geographic region, brand and organization where the marketing initiatives occurred
- Event Correlation Insights: Correlation between performance and external events (product launches, mergers, acquisitions, marketing campaigns, etc.) that may account for performance fluctuations to help isolate the contribution from social marketing efforts (vs. external forces)
- Conversation Insights: Analysis and evolution of long-running conversation topics that result from behaviors and marketing activities to understand the attributes of the content or strategy that resonate with the engaged market and insight into how that content shapes the psychographics and opinions of the audience
Users also have access to an Insight Engine, which monitors insights for company brands, regions, departments and subsidiaries to highlight the insights that need attention or action.
The Social Performance Monitor Saas web application tracks a brand’s social activities
The Social Performance Monitor is free and offers a subscription service so that businesses can track their global portfolio of social accounts and coordinate with the individuals that manage them.