Lithium Technologies claims it's cracking the social ROI code with an expansion to its analytics portfolio.
The San Francisco-based social customer community software provider today announced two solutions: an addition to its platform: called Value Analytics and an addition to its Community Health Index (CHI) called Lithium Cohort Benchmarking. The health index gauges effectiveness of social communities via members, content, traffic, liveliness, interaction and responsiveness, according to Lithium officials.
Today's additions are designed to help enterprises measure the customer impacts of community experience as well as the community’s overall effects on their businesses.
How It Works
Both the Cohort Benchmarking and Value Analytics are offered as part of Lithium’s Total Community platform, a Software-as-a-Service (SaaS)-based offering that allows users to paint a complete social picture of a customer using data insights.
"We recognized the vast limitations that businesses had when it came to measuring the success of their social strategies," Katy Keim, CMO of Lithium Technologies, told CMSWire. "Relying simply on 'likes' or followers was simply insufficient. Value Analytics and Cohort Benchmarking work to solve that problem by providing Lithium clients with quantifiable metrics that show them where they are succeeding and where they should be focused to improve performance."
Through the Value Analytics platform, users get data including Net Promoter ScoreSM (NPS), customer satisfaction (CSAT) and call deflection.
They can quantify the success rate of user visits and see how this impacts their overall customer service costs.
The data is all recorded in Lithium Social Intelligence and allows community managers the ability to then drill down and identify exactly where action needs to be taken, Keim said. Lithium Social Intelligence is an analytics product designed to help brands measure social ROI and improve the performance of social customer programs.
Cohort Benchmarking lets businesses benchmark their community performance against other brands in the Lithium network by geography, industry and maturity. Using a series of 15 metrics including unique visitors, replies and solutions, users compare how they are performing against the most successful communities in the world, according to Lithium officials.
Asked why the Lithium platform stands out in a flooded space of social listening tools, Keim cited the more than 400 communities, 100 million monthly users and billions of interactions captured every day within Lithium's ecosystem.
"Lithium has access to one of the largest footprints of social data in the world," she said. "No other platform has access to this level of data or built-in capabilities for getting NPS and CSAT scores."
Value Analytics and Lithium Cohort Benchmarking are available now.
Lithium, which acquired the social scoring company Klout, released the biggest product rollout in its 14-year history six months ago. It claimed then more than 700 million people use the Lithium-Klout online platform monthly.
- Experts and Mobile Agent
- New Integrated Profile
- Updated Ratings/Reviews
- New Value Analytics feature for Lithium Communities
- Updated Salesforce Connector
- Broader set of listening APIs
- New software developer kit (SDK)
In August the company made a series of partnership announcements after Klout’s algorithms and data platform had been integrated into Lithium’s communities and social tools. Also, Epsilon and Klout formed a strategic partnership. The deal enables users of the Epsilon Social Media Tool to access Klout’s dataset to spot trends, determine a customer’s area of interest and expertise, and measure a consumer’s social influence.