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The social media listening market is maturing

Monday, I talked about the Convey API, a new offering from Converseon that earned DataWeek’s Innovator of the Year on Social Media. My point Monday was that the Convey API allows the people who need accurate sentiment analysis to pay for it, even though monitoring platforms are getting cheaper and cheaper and not offering that kind of accuracy. But that’s only half the story. To me, the bigger opportunity for accurate sentiment analysis is how it can be used for entirely new applications that go way beyond social media monitoring.

WI: Milwaukee phone bank and labor walk, Septe...
WI: Milwaukee phone bank and labor walk, September 11, 2008 (Photo credit: aflcio)

Social media monitoring has evolved into a vertically integrated industry–you buy the data, the analysis, and the user interface from the same company. There are some exceptions to this, notably Radian6 offers text analytics plug-ins–but it’s mostly true. And for good reason. There is no marketing or PR dashboard to integrate social media into.

But that’s not the case with other uses of social media listening. Customer service has its ticketing systems. Sales has its CRM system. They won’t want a vertically integrated solution for social media listening. Complaints on Yelp need to result in open customer service tickets, not a line item on a monitoring screen. Likewise, a prospect on Twitter is just as much of a lead as a card collected for a drawing at the trade show.

So, social media needs to grow up–beyond vertical integration into a series of components that allow systems to be created that have best-in-class components at every stage. In such an environment, Converseon’s Convey API can become an important piece, especially in environments that already have dashboards.

Is the market waiting for this? As Chief Strategist of Convereon, I have a rooting interest. But watching social media listening mature is certainly interesting.

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Mike Moran

Mike Moran is an expert in digital marketing, search technology, social media, text analytics, web personalization, and web metrics, who, as a Certified Speaking Professional, regularly makes speaking appearances. Mike’s previous appearances include keynote speaking appearances worldwide. Mike serves as a senior strategist for Converseon, an AI powered consumer intelligence technology and consulting firm. He is also a senior strategist for SoloSegment, a marketing automation software solutions and services firm. Mike also serves as a member of the Board of Directors of SEMPO. Mike spent 30 years at IBM, rising to Distinguished Engineer, an executive-level technical position. Mike held various roles in his IBM career, including eight years at IBM’s customer-facing website, ibm.com, most recently as the Manager of ibm.com Web Experience, where he led 65 information architects, web designers, webmasters, programmers, and technical architects around the world. Mike's newest book is Outside-In Marketing with world-renowned author James Mathewson. He is co-author of the best-selling Search Engine Marketing, Inc. (with fellow search marketing expert Bill Hunt), now in its Third Edition. Mike is also the author of the acclaimed internet marketing book, Do It Wrong Quickly: How the Web Changes the Old Marketing Rules, named one of best business books of 2007 by the Miami Herald. Mike founded and writes for Biznology® and writes regularly for other blogs. In addition to Mike’s broad technical background, he holds an Advanced Certificate in Market Management Practice from the Royal UK Charter Institute of Marketing and is a Visiting Lecturer at the University of Virginia’s Darden School of Business. He also teaches at Rutgers Business School. He is a Senior Fellow at the Society for New Communications Research. Mike worked at ibm.com from 1998 through 2006, pioneering IBM’s successful search marketing program. IBM’s website of over two million pages was a classic “big company” website that has traditionally been difficult to optimize for search marketing. Mike, working with Bill Hunt, developed a strategy for search engine marketing that works for any business, large or small. Moran and Hunt spearheaded IBM’s content improvement that has resulted in dramatic gains in traffic from Google and other internet portals.

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