Satmetrix makes sense of social media data
Satmetrix has introduced a new way to measure and use social media with its Net Promoter-based social media measurement solution, Satmetrix SparkScore, which applies the same Net Promoter methodology of recommendation behaviour to social media sentiment.
In the next few months, Satmetrix says it will be releasing a series of SparkScore solutions. The first, a free edition, is scheduled to launch toward the end of February 2012, and will measure the SparkScore of major brands across different industries.
Using a rigorous sentiment engine from Satmetrix development partner Metavana, SparkScore will analyse the fluid and unstructured comments made about brands across multiple social media sites (including Facebook, Twitter and others), as well as reviews, discussion web sites and other applicable private customer forums, and then assign a SparkScore to each brand. Companies will then be able to access their overall SparkScore and compare it to their industry's benchmarks, best scores, and worst scores on a daily basis.
"In the absence of an effective way of making business sense of social media content, businesses have generally been limited to simply counting tweets, likes, follows or other vendor-specific score methodologies," said Richard Owen, chief executive officer for Satmetrix. "SparkScore will allow companies to understand the sentiment of what is being said about their brands online, connect it to measurable business results, and bring it to the board room."
Following this first release, Satmetrix will be embedding its SparkScore solutions into its 'Net Promoter in the Cloud' software applications to help companies generate more powerful social media insights and drive more positive action to boost business results.
"Social media is a growing priority within businesses, but our research demonstrates many lack a solid strategy and means to understand if their efforts are achieving business results," said Bruce Temkin, managing partner for the Temkin Group. "Applying the NPS discipline into a social media environment full of rich customer feedback is right for the times."
Sources: Satmetrix / The Marketing Factbook.
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