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Brainstorming useful applications of social networks inside the firewall
December 2007 Archives
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Catch up on the eye-roll-inducing examples you may have missed.
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Another example of the reality of social media falling short of its utopian ideals. Lengthy stream of comments shows that lots of people don't dig Digg.
The most widely read posts on this blog for 2007, sorted by unique visitors.
- Bloggers of social media analysis (June 11, 2007)
- Defining social media relations (November 10, 2006)
- BuzzMonitor - open-source blog monitoring (June 1, 2007)
- Visual text analysis (April 6, 2007)
- Analysts of social media (September 11, 2007)
- Guide to Social Media Analysis (June 6, 2007)
- Sorting out social media measurement (July 26, 2007)
- Human vs. machine analysis (April 30, 2007)
- Irony 2.0 (November 19, 2007)
- Does Facebook want grown-ups? (August 3, 2007)
Hat tip to Dennis McDonald for this idea.
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Chip Griffin waves a red cape in front of the social media bulls.
So, you want to embarrass your company with your efforts in social media, and you don't have a lot of time. You could invent an original way to screw up and let everyone else learn from your mistakes, but that would require effort. Instead, you want something easy that you know will work. What you need are best practices identified by early adopters. Follow their examples, and you can have your very own blogstorm.
10 easy ways to embarrass your company in social media
- Create a fake blog. Nobody will notice, and even if they do, they won't remember.
- Dare bloggers to complain about you. Because, you know, nobody reads blogs.
- Broadcast your press releases to bloggers. They love that.
- Flame a blogger critic in email, because that way it will stay between you and the blogger.
- Impersonate someone else in blog comments. That transparency stuff is overrated.
- In any dispute, lead with the lawyers. They can take care of everything for you.
- If you want good reviews of your expensive product, send free samples to bloggers. You don't need to mention anything about disclosure.
- Oh, heck, just review your own products. You know them better than anyone else, anyway.
- Make improvements to your company's Wikipedia entry. After all, it's the encyclopedia that anyone can edit, right?
- Tout your company's stock on the message boards. If you want a job done right, you have to do it yourself.
All we ask is that you let us be the first to blog about it when you invent a new one.
News from the companies of social media analysis.
Companies and services
- 11 December - Scout Labs opened their public beta. Public launch is expected in the first quarter. (via TechCrunch)
- CyberAlert invites applications from US and Canadian non-profits for one-year grants of free news clipping service using its CyberAlert 4.0 service. (via Katie Paine)
- McKinsey Quarterly has a framework for thinkinkg about differences in the environment for PR, advertising, product development and customer service in "Marketing with user-generated content (free registration required). (via Sam Flemming)
Tags: social media analysis brand monitoring
Some forms of ROI are inherently easier to track. While so many focus on the marketing & communications uses of social media, two companies are putting social media analysis techniques to work for institutional investors. What they do is simple: they look for reliable information online, before it shows up in mainstream media and moves the market. By going to the source, they can identify potential trading opportunities for their clients.
Buy on the rumor; sell on the news.Collective Intellect and Monitor110 offer market intelligence services to the Wall Street crowd (CI also offers a version tailored to marketing and communications). The basics are familiar to anyone who's looked at social media monitoring services—they watch blogs and other online sources for interesting bits of information. The difference is their purpose: to find information that has the potential to move stock prices, before everyone else finds it.
Collective Intellect describes three different use cases:
- Traders need to know everything going on with a stock in real time. They don't want a tap on the shoulder, a few minutes after a trade, to hear “didn’t you see that thing on the Internet about their product problem?”
Traders deal with a lot of information, so there's an emphasis on filtering to find the best information and the best sources.
- Portfolio managers and research analysts usually have more time to think, but they need a comprehensive view of activity associated with a stock, an event, a technology, an individual executive, or an industry.
- Quants dig through the rich data available in social media for tradeable correlations. If there's predictive power in a social media metric, they'll find it—but don't expect them to share. They know how to make money with math secrets.
If online market intelligence leads to a profitable trade, the ROI is easy to determine, without any arguments about how to translate outcomes to money.
For more on social media/2.0 technologies in the financial sector, check out Christopher Rollyson's notes on Web 2.0 and Enterprise 2.0 in Capital Markets (via David Teten).
Tags: social media analysis finance
News from the companies of social media analysis.
Companies and services
- 23 November - UK-based Sentiment Metrics launched their social media analysis service, which starts at £159 per month. A free, 14-day trial is available.
- 3 December - Cymfony announced its Super Bowl Advertising Audience Impact report, a syndicated series of reports on media coverage and consumer discussions about Super Bowl advertisers. press release
- 4 December - CustomScoop launched Media Bullseye, a web site/newsletter on current trends in communications for media, public relations, and marketing types. (via Chip Griffin)
- 6 December - KDPaine & Partners and BuzzLogic announced a partnership to offer KDPaine's tonality and sentiment scoring to BuzzLogic customers. press release
- 11 December - Text 100 and Converseon present Social Media Breakfast NYC with Reuters virtual world reporter Eric Krangel on how social media has impacted journalism and communications. (via Paull Young)
- Umbria released a white paper on consumer perceptions about product recalls following recalls of Chinese-made goods (registration required). The paper features demographic analysis and profiles of four consumer segments based on their reactions to the recalls.
- Katie Paine announced the availability of her book, Measuring Public Relationships: The Data-Driven Communicator's Guide to Success.
Tags: social media analysis brand monitoring
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Good report from Charlene Li on how companies should deal with Wikipedia. Certainly easier to digest than the official sources in WP itself.
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"Controversy has erupted among the encyclopedia's core contributors, after a rogue editor revealed that the site's top administrators are using a secret insider mailing list to crackdown on perceived threats to their power."
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"The fact that you have “non-selfish” intentions (if that exists) does not mean that what you are doing is good."
Just in time to relieve us from the overexposure of Facebook's problems, Wikipedia gives us this: Secret mailing list rocks Wikipedia, now playing on Digg and TechMeme. If you like your controversy with a soundtrack, try this entertaining version. Betrayal, a secret cabal, and an alien legal code—who needs TV when this on?
I'm not going to try to summmarize things—the Register's article does a nice job of that. What's going on is an argument about politics and arcane processes, wrapped in principle and spiced with murky power structures and secret mailing lists. The volume of opinion is amazing, and it gives a sense of the amount of time people have to spend there.
Awkward adolescence, indeed.
To me, the interesting bit is that the focus of the controversy, the pseudonymous Durova, has been a useful inside source for marketers, with her dark side opinion piece and SEO tips & tactics from a Wikipedia insider, which appeared under her nom de wiki on Search Engine Land. It's interesting to reconsider her advice on how to interact properly with Wikipedia, in light of the current complaints and revelations.
The Animal Farm reference is obvious. In fact, it's already shown up in comments on other posts several times.
More on Wikipedia:
- Crash course on Wikipedia
- HBS case study: Wikipedia
- Items tagged Wikipedia