Social Business Index launch provides snapshot into consumer engagement
Ranking consumer engagement with social media accounts can be a useful tool – enabling companies to set out and manage their online marketing strategies – but many brands lack the immediate data needed to make improvements in real-time.
American information service provider Dachis Group, which uses a range of platforms to measure how companies use and perform on social media, launched its Social Business Index (SBI) in Austin, Texas earlier this week (September 13).
The SBI offers a snapshot of business and consumer activity online. It then ranks companies based on their ability to engage and connect with customers using platforms such as Facebook, Twitter and YouTube in real-time.
By measuring the interaction between consumers and companies, the SBI attempts to recreate the type of immediate, face-to-face, feedback that many businesses are accustomed to and would otherwise use to inform marketing strategies.
According to Jeffrey Dachis, the group's chief executive officer, the SBI is set to change the way companies do social business.
He said:"The Social Business Index fills a big hole in the market, providing large global brands with a near real-time quantitative data."
Dachis also said that the Social Business Index was different to traditional top 100 lists due to the depth and reach of the data being made available. And that the truly global nature of the information allows companies to make comparisons both in and outside of traditional business sectors.
The top ranking companies in terms of consumer-business engagement on the Social Business Index included Facebook, Google and News Corporation, companies whose online presence is largely informed by regular fresh content.