Compare Big-Brand Social Media Performance
Social media requires a rather significant investment of time from brand marketers, but it is not always easy to measure performance - of your own initiatives or those of the competition - but that is beginning to change.
Social media intelligence provider Brandwatch has introduced a way to compare brands' social media efforts, releasing its Social Indices feature for those in the retail, healthcare, TV and nonprofit sectors. The index is limited to just 26 big brands at the moment but the company indicated it will add additional brands and industry categories in the future.
Brandwatch is measuring five distinct criteria: social visibility (the volume of conversations a brand generates across channels), general visibility (the volume of conversation a brand generates on blogs, forums, etc.), Net Sentiment (the ratio of positive to negative statements regarding a brand), Reach Growth (the growth of a brand's social following over a one month period), and Engagement and Content (how effective brands are at responding to their audience and how well that content is received).