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19 January 2012

Dachis Group unveils Social Performance Monitor for brands

Tim Gibbon, director Elemental By Tim Gibbon

We blogged back in September 2011 about social media agency the Dachis Group releasing its Social Business Index. The US-based social media company has now unveiled its latest application (app), the Social Performance Monitor (SPM).

 

The new release is the third tool (adding its Social Business Index and Social Portfolio Insight to its social media measurement suite) from the social agency and also the first in which it seeks a subscription payment model for use. The Dachis Group’s approach may be perceived as obvious and although its announcement plays to the usual rhetoric, the social media agency has the potential and the financial backing to create tools that may strike a cord with brands.The Dachis Group logo

 

Jeff Dachis, CEO, Chairman and Founder at Dachis Group seems confident. He comments, “The world’s largest companies and top brands are realizing the unique brand engagement potential, along with the powerful measurability and traceability inherent in social media.

 

“With the launch of Social Performance Monitor, Dachis Group continues its mission to provide brand marketers with performance tools to measure the true value of their investments and efforts in social marketing. Uniquely, Social Performance Monitor can bring clarity and definition to the once amorphous concept of social media measurement for brand marketers.”

 

Described as a SaaS web application, the Social Performance Monitor purports to track the social activities of brands against business outcomes it outlines as:

  • Brand Awareness
  • Brand Love
  • Brand Mindshare
  • Brand Advocacy

 

From its site the Dachis Group attempts to differentiate its new app from other social media monitoring and measurement tools. “Unlike alternatives that focus only on simplistic activity counts, Social Performance Monitor provides metrics correlated to your brand marketing business outcomes and benchmarked against your competitors and industry.”

Social Performance Monitor image

Image of The Dachis Group Social Performance Monitor (SPM)

How successful it is in making these distinctions and how other providers in the rapidly evolving space remains to be seen, but for now the Dachis Group is a social media agency communicating the right messaging. Although not revolutionary, it’s the line likely to be taken by many others as dedicated social media practitioners attempt seek credibility in an increasingly competitive market, not only for brands, but also the agencies competing for their accounts. This is reinforced by its press release where Erik Huddleston, CTO and EVP Product, comments, “As social has matured into a mission critical component of a brand’s marketing mix, simply measuring ‘Likes and Followers’ is no longer adequate for marketers to measure the impact and return of their significant investments in social marketing initiatives.”

 

These are wise words, albeit echoed from earlier digital marketing days many moons ago. We’ll have to wait and see how they put into practice by professionals working within the realm of social media marketing and how other practitioners react, from an array from other marketing and PR disciplines.

 

If you’re interested in learning more about the new SPM app, there’s a webinar entitled ‘Measuring Brand Outcomes: Dachis Group's Social Performance Monitor’ scheduled for Friday, 20 January 2012, and hosted by Huddleston.

 

A quick side-by-side comparison of what the Social Business Index looked like on 19 September 2011 (on the left) and what it looks like today (on the right). News Corporation has moved from 3 to 1 and Facebook has dropped from the number 1 spot to 9. One could surmise that the chatter around Facebook was greater at that time with its pre f8 conference expectations earlier in the year and News Corporation moving to number 1, could be from lots of people talking about the investigations into news organisations practices and closure of the News of the World.

 

It’s free for the public to use the real-time database, and positions are likely to change as external and internal influences have an impact upon the brands listed. What will become apparent interpreting is how, why and when the rankings change and applying approaches for brands to influence them with real-time actionable decisions (and activity) to keep in the green and out of the red. Just imagine running this scenario of a period of time to see play and interpret the sequence of events.

 

Social Business Index comparison image 

An image of Dachis Group Social Business Index comparison

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Categories: Technology, Social media, Research, News, Marketing

Tags: Dachis Group, Social Performance Media, SPM, social media agency, social media, brands, social media apps, social media measurement, social media analysis

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