WPM announced a new version of its social media intelligence software which offers better insights into what consumers share in their communities and into what the competition does. The company considers that social/new media business intelligence’s (SMBI) most important function is to monitor and measure online communities for what competitors do and how consumers respond to their actions.
“It really is a new approach, and we’re extremely excited,” said Dave Jeffries, Senior Managing Partner of WPM. “While there are some very solid social monitoring tools currently available, to this point we believe that they’ve had two major detractors: one is their predominant focus on what people in the social community are saying about a particular brand; the other is they only provide raw, undigested data with no actionable analysis. We believe companies are missing out on more than 80% of the conversations with shared customers that can affect their bottom line if they are not measuring the competition’s social interactions on a daily basis.”
The WPM representative also pointed out that their software continuously monitors the entire competitive landscape for their clients, providing a comprehensive presentation of the aggregated set of data and an expert analysis of that data as an outcome. These timely and accurate insights can be used by clients to determine their next move.
“WPM has a fantastic system,” said Jessica DeJong, Marketing Coordinator for Raven (NASD: RAVN) Industries Applied Technologies Division. “Their system provides us with consumer insights that quite frankly we couldn’t get otherwise. It tracks every social media channel for every competitor we have, every day. That kind of monitoring, combined with their expert analysis, allows us to more fully understand how our shared consumer pool relates to our and our competition’s marketing messages, product launches, new initiatives, etc. This is exactly what marketers have been looking for…well forever.”