Picture this: A well-known Billionaire financier tweets about your company’s desirability level to investors - and his own position in your company - causing a Wall Street frenzy.
With the ever changing landscape of the Social Media monitoring space, BrandProtect endeavours to stay up to date with the latest and most effective methods being utilized by industry leaders in the collection and analysis of Social Media data. Recently I had the opportunity to attend the Social Media Strategies Summit in Chicago. It was a bit of whirlwind experience, arriving the morning of the first day of the conference. By about midday I was able to ingest my 8th cup of coffee and was raring to go. The event was hosted by the Global Strategic Management Institute and was chalked full of insightful and knowledgeable speakers.
"These Manti Te'o and Justin Bieber examples are strong reasons that opting to increase any scrutiny or review beyond what is possible from an automation standpoint will only benefit one’s Social Media listening solution. When specific criteria and priorities can be established between customer and analyst the customer experience is customized and tailored to deliver only the pertinent analysis that they desire." - Darren Enta, Lead Social Media Analyst at BrandProtect
There are hundreds of social media monitoring tools available on the market today to help you keep an eye on what’s being said about your organization. Whether you use free services, such as google alerts, social mention and hootsuite or pay for more enterprise-driven company monitoring, such as Radian6, Sysomos or BrandProtect (that's us!), don’t be fooled into thinking that selecting social media monitoring tools that are right for you can be purchased the same way you buy a sweater. It’s not about liking the colour, or texture or buying into a trend. It’s more like buying a bathing suit or the perfect pair of jeans and it’s all about fit. Before you buy, you’ll need to try several on for size. Now, before you start questioning skinnies versus bell bottoms, let me tell you where I’m going with this.
When looking for a social media monitoring tool we have heard many times, from many clients that ‘we want something pretty’. Pretty might work for marketing or for campaign tracking…..but there is nothing pretty about brand defamation and risk to corporate reputation. User-friendly? Yes. But pretty? Not so much.
When I talk to people about what I do and I mention online brand protection or reputation management they automatically think about large consumer brand like Coke or high end brand such as Louis Vuitton but more often than not banks or insurance companies do not come to mind. This is so strange to me but I have to remember that I have been exposed to this for almost nine years and working with financial institutions seems a no brainer. Why? Well first of all as a person who banks online, and has life and medical insurance with various carriers I want to know that my assets are safe and in a place I trust. But the companies themselves need to understand what is happening online (and off) with regards to their brand to help ensure that people like me feel safe and comfortable in their decision to use these corporations.
This past Friday, a great article appeared on Mashable entitled, 10 Social Media tips from a Top Media Agency. The article was prepared by Christine Erickson of Mashable and provides some very concise and sound considerations when formulating a strategy for marketers.
It is no secret that negative reviews can damage your reputation. We have been urging companies to monitor their social media presence and respond to online chatter in a promptly and efficient manner to prevent it from escalating into a full blown PR disaster. Companies have known for a long time that turning a negative review into a positive is the best form of word of mouth advertising there is. But until today there wasn’t much solid proof that negative commentary could have a direct and immediate effect on the company’s net profit margin.