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BizReport : Social Marketing : April 28, 2008
Empower's ChatterWatch measures UGC impact
Social marketing is one of the hottest areas for online marketers but knowing which social networking sites, content blogs/vlogs or video clips will gain the most viewers is still tough to measure. Enter a new metrix tool from Empower MediaMarketing called ChatterWatch.
The tool allows marketers to measure and analyze the influence of user generated content. Measuring the influence includes monitoring blogs and discussion forums to figure out which consumers are being listened to about a product or service and why others' value those opinions.
Julia Pahutski, senior vice president of Empower and one of ChatterWatch's developers said, "There are more than 100 million blogs in the U.S. with approximately 50,000 new ones created daily. ChatterWatch. . .turns our knowledge and insights on consumer-generated media into a proprietary tool that delivers even more strategic advantage to our clients. The mining of consumer insights through their own words provides advantages over traditional survey research since we are not dealing with response rates and respondent resistance.”
According to a recent eMarketer forecast, social marketing will increase by about 70% in 2008. In 2007, social marketing accounted for only about $920 million; by the end of 2008, social marketing efforts are expected to rise to $1.6 billion (a 69% increase).
Tags: social marketing, social networks, user-generated content
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