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BizReport : Social Marketing : May 06, 2011

Platform helps brands analyze passion through socnets

Brands are flocking to the social space, but without a bit of guidance many are left floundering. NetBase is a relatively new analytics hub which helps brands decipher what social conversations mean - that knowledge can then help brands staunch the flow of negative publicity and increase the sentiment surrounding positive happenings.

by Kristina Knight

"Our mission is to help business people and analysts analyze new insights through social media and to benchmark themselves against the competition," said Lisa Rosner, Chief Marketing Officer with NetBase.

Through the platform brands can see what consumers are saying about them and can also compare their results with the results of competitors. The Brand Passion Index aggregates 12 months of social content and is refreshed every three hours for near real time results.

Who are the winners when it comes to brand passion? The latest Brand Passion Index from NetBase says fast food brand Chipotle is the big winner. According to their data, as consumers readied for Cinco de Mayo celebrations Chipotle generated a 65 score (highest love) and generated 42% of overall chatter. Meanwhile competitor Taco Bell generated 55% of the overall buzz for Mexican food.

"[Social media is] extremely strategic," said Rosner. "One of the things that a tool like this does is capitalize on social media strategy. When you're using these tools you have pillars in place to promote the good and deal with the negative; this type of analysis is not done in a vacuum. This type of solution can be used to see what is going on in social media and to react within social media, but it can also be used for product innovation."

Tags: Brand Passion Index, NetBase, social marketing, social metrics, social networks, socnets

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