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  • Disclosure
    Nobody pays me to write any of the copy on my blog, and should I ever have the good fortune that they do, I will declare it. My main employment is as the owner and principal of The Future Place consultancy. The Future Place provides two key services 1) training and services to industry and academic bodies and 2) consultancy services to companies. The details of the companies I work with are a private matter, but if I blog about any company who has paid The Future Place more than expenses recently (approx. two years) I will mention that they are a client. I hold equity in Virtual Surveys and provide consulting services to them from time to time. I am paid to run courses for a number of trade bodies and over the last few years clients have included ESOMAR, AMSRS, MRS, and MRIA.

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Sergei Dolukhanov

Social media monitoring gives you fancy charts, nice graphs, colorful dashboards, and maybe it'll tell you who's talking about your brand. However, I'd like to add to your factors holding back Social Media Monitoring: it doesn't tell you how the results actually impact your business! In other words, a CEO can't look at the results and say for sure "wow, because of this, our revenue will increase this quarter by X amount." Monitoring does not give companies the results they need to really see how social impacts key business performance indicators.

Social media monitoring is like standing in a goldmine with a high powered camera; you can take beautiful pictures of the gold and say how great and shiny it is, but you can't actually make any money from it (unless you sell the pictures). What you really need is the ability to dig deep: hire a highly skilled team, the best equipment available, and put a proper strategy in place to excavate the gold and sell it for something you can really wrap your head around; money.

The next step is social media business intelligence. This is where you get the real, motivation driven analytics. You can see the patterns and trends; they 'whys' of the conversation; why people say what they say online and the real conversation drivers. CEO's want output; they want the ability to quantify what they see in analytics results in real business terms.

Thanks for the post; you write well do a nice job of highlighting both the pro's and con's of a budding industry. Keep up the good work.


Director of Marketing @EvoApp

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