Most social media analytics tools will measure how a profile’s fan base has changed and what percentage of those people are actively interacting with it. Most also give some indication as to what “share of voice” a brand has among its competitors in the conversation that’s pinging around social networks.
But to invoke the Double Rainbow guy, “What does it mean?”
A new tool from startup social media analytics company SimplyMeasured attempts to add some context to the numbers by showing customers how their pages stack up to those of their competitors.
“I think a lot of agencies and brands are sending these metrics up the chain: ‘Engagement is really important and we’ve got all this engagement, we have a million fans and 10% of those engaged with us,’” CEO Adam Schoenfeld says. “And the CEO or executive is saying, what does that mean? how big is that?”
With the new tool, it’s easy to make a comparison such as “that’s twice the amount of engagement our closest competitor has.” It’s also easy to learn from competitors’ pages by looking at what type of posts have returned the most responses for them. A post-by-post breakdown comes packaged with handy charts in an excel sheet.
SimplyMeasured is giving away a Facebook-only version its product, which it calls, a “Compete for social media.” Users need only enter the URLs that they’d like to compare in order to receive a report. A more complex version of the tool that includes Twitter comparative analysis, and will soon include YouTube comparative analysis, is packaged with SimplyMeasured’s general social media analysis tool. Plans for that tool start at $500 per month.
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