Perhaps one of the things that differentiates social media from social marketing is that in social media, there is not a lot of measurement or metrics – social media purist almost shun the idea that the environment can or should have metrics applied to it at all. In marketing, and social marketing in particular, you can deploy sufficient tools and tactics to measure almost everything and with the information, examine the underlying causal connections.
Part of the challenge for social marketers is the sheer volume of data; even if you just segment one of the social platforms, say Twitter for example, the stream of data can be huge – AllFacebook reports that the # of posts in Twitter is nearing the number of status updates in Facebook (50M tweets vs. 60M status updates) and given the disparity of the size of the user bases(105M vs. 470M), Twitter is still a pretty big deal. Getting a grip on the flow of messages, and a brands effectiveness in it has been a real challenge. Many of the Twitter ‘measurement’ or rating tools have fallen short in being able to provide a clear picture of what a Twitter presence can or should do to improve their standing.
In this episode of The ROI of Social Media podcast series, we connect with Jeff Katz (pronounced kay-tz), the Product Lead for Twitalyzer, who works with Eric Peterson in getting the product to market.
They’ve been in business for about a year and with a product update shipped in January 2010, they are sharing more about how they approach the market of reporting on how people use messaging platforms.
Twitalyzer’s market is organizations who are shifting away from individual scores and toward organizations who want support in the effort to understanding how they should be responding to consumers and individuals in market using short messaging. Twitalyzer will provide the data to help them better connect to the market and understand what social media function they can use to reach the market.
Businesses have been just using social media as a tactic to connect, but no real reporting on effectiveness. As businesses are trying to get involved in social media, they ask ‘how often am I engaging’, ‘how am I increasing my relative scores’ am I able to look at segments of the Twitter population, react and and effectively connect to them. Jeffery suggests it is a similar space that analytics were 5 years ago.
Dashboard Elements – Impact, engagement, generosity, velocity or clout. As a generalized offering to the market, they are targeting a position to be the Google Analytics for social media, specifically Twitter and the short messaging platform.
The genesis of the product began with the team getting Eric onto Twitter. Not being a social media guy, he was questioning why? Fair enough a question. Eric was asking ‘Is Twitter worthwhile’, of all the things I could do, is social media / Twitter good for me?
He scanned the existing tools and they provided a scoring that did not reflect how he was using the tool. The first iteration Eric produced was the ‘Twitter Influence Calculator’. Twitalyzer was born when at AdTech, Guy Kawasaki suggested that if people were serious about web analytics they needed to check out Twitalyzer – the attention drew a huge surge and Eric decided to get more serious about productizing the software.
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