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19 September 2011

Social media agency lists online value of top social businesses

Tim Gibbon, director Elemental By Tim Gibbon

A blog post from social media agency the Dachis Group announces its Social Business Index, is well, now open for public consumption. The agency suggests that the simple measurement of social media through current monitoring and tracking isn’t sustainable.  

It’s an obvious platform for the agency in building the case in trying to distinguish its vision that businesses need to perform better within social environments – and how they should go about it.

However, its index is a step in the right direction in bringing more value to businesses to make more intelligent decisions based on better data and information, instead of just focusing on what is being said about a brand – and other content that may relate to it. Pretty much what the web analytics market had to bring to brands and marketers, as it becomes increasingly important to understand metrics such as the when, where, how, quantities and tapping into the whys.

 

Dachis’ Social Business Index claims to list between 2,700 companies and 20,000 and 26,000 brands based upon data collated from range of social environments – including information from 100 million worldwide social accounts. The private version of the index was released in June 2011, tracking and monitoring social platforms with its specially created algorithm. It’s an obvious platform for the agency to try and distinguish its vision that businesses need to perform better within social environments – and how they should go about it.
Social Business Index by the Dachis Group


Released publicly last week to normal folk, the index tracks and monitors social platforms striving to build the case for more actionable key performance indicators (KPI) and the end game, the better understanding and actionable holy grail return on investment (ROI). The agency rightly states that is difficult to measure social ROI and other metrics on a purely financial metrics basis, with so many other benchmarks required in order to provide a richer picture for organisations to consider, and they are vocal champions of this.


A year in the building, Dachis created its database on the Social Business Intelligence as Service platform (SBIaaS) using an array of technologies that it states it will need to develop to address an evolving market. For now the database allows for a real-time view of well-known organisations - it looks like a who’s who leader board.


Users can filter by business size, sector drop down, performance ranking and with obligatory scores of where they were, versus where they are now. There’s enough eye candy to feast on in terms of an overview - focusing on main sections industry performance, trends, social business graphs, comparison features and the ability to drill down by its filters.


If you happen to work one of the selected organisations you can add your details and apparently receive more love. However, digging deeper at this point, doesn’t seem possible unless you’re part of the 26K.


As for who’s topping the leader board...well, no massive surprises there until you reach Coinstar, Inc, listed as a music, video, book and entertainment retail brand at number 5. One can only surmise that it’s particularly efficient in using its social channels and boosted maybe via its subsidiary brands way ahead of many others that could be expected to be up there. 


It’s certainly a more than decent marketing and sales tool for a social business consultancy. Indeed, its a wake up call for many other social media agencies and brands that are focusing on the doing and not so much on the longevity of actions, that can also have slower and more convoluted routes in implementing feedback and insight into the core of businesses at every level. It’s not an earth shattering development or indeed advice for brands at this stage, but more of what needs to be seen and done. Given this is a social media agency that is large in comparison to many of its competitors, sizeable funding behind it and with what may be deemed good pedigree - it certainly brings more gravitas to the sensible arguments it consistently raises on its blog.


Founded by Jeffrey Dachis in 2008
, who’s no stranger to successful agency life (ex-Razorfish), the agency based on Austin, Texas, USA raised $30 million venture capital from Austin Ventures. It’s made several acquisitions including UK social business agency Headshift certainly making it many may want to watch perhaps just as much as its social tracking tool. 

Useful links to get your head around

The Social Business Index is open (blog post and announcement)

Introducing the Public Launch of the Social Business Index (announcement of public release)

The Social Business Index

Dachis Group Expands Social Business Summit 2012 Global Series (press release)

Social Business Summit dates

Rio de Janeiro, Brazil - February 16, 2012
Austin, Texas, USA - March 8, 2012
Shanghai, China - April 18, 2012
Berlin, Germany - May 17, 2012
London, UK - June 21, 2012
Singapore - August 2, 2012
New York, USA - September 12, 2012


In the spirit of how businesses are represented on the web, this infographic below from NetProspex and Oxford Communications shows the top 50 companies on the NetProspex Social Index as determined by what both companies refer to as social connectedness, social activity, friendliness and reach across top social networks, inclusive of Facebook, Twitter and LinkedIn.

It’s an interesting infographic, as you’ll recognise the brand names because they’re global, but it’s US centric. If that’s your market, then you may be interested in the rest of the social reports available for download. More than anything else, it’s presented nicely, very pretty indeed.

NetProspex and Oxford Communications infographic

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

Tags: Social Business Index, Dachis Group, social business, social media, business social media league, social media agency, social media agencies, social media list, NetProspex Social Index, social index

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