blueocean market intelligence conducts the only truly global study designed to evaluate social media effectiveness and identify top performers.
Our proprietary Social Media Effectiveness Index (SEI) measures impact by integrating social media analytics, measurement and monitoring with multichannel analytics. The first of its kind, it blends research and analytics to help benchmark against competitors and better plan and measure outcome of social media campaigns.
The robust and scalable SEI framework is based on five parameters – share of voice, identification of influencers and advocates, engagement rate, touch rate and net sentiment – linked to key metrics like social media market share, marketing strategy, customer experience and brand awareness and perception. It captures conversations on social networks and online communities, correlates its impact against key metrics and measures outcomes of business-to-consumer interactions on social media, including how top influencers on Twitter and engagement on Facebook drive site visitors and purchase behaviour.
Here are some brief look into why these brands landed in our Top 5 as part of our 2013 SEI Retail ranking:
Autozone – This retailer of aftermarket automotive parts and accessories topped the SEI chart. Their quick responses to customers, attractive offers and CSR initiatives drove the brand’s touch rate and sentiment score to the top. AutoZone displayed a good response time of 2.5 hours compared to its competitors.
BJ’s – BJ’s prompt and responsive customer service on social media channels as well as its large influencer base helped them become one of the top ranking companies. However, interestingly enough, their Share of Voice (SoV) was low.
Wal-Mart – The American multinational retail giant generated a high number of customer conversations around the brand owing to their ‘Food Stamp Shopping Spree.’ The brand also attracted positive feedback from its customers which helped them stay on top.
Costco – The net sentiment for Costco was high due to their perceived good food quality and consumers’ love affair with Costco’s pizza.
Walgreen’s – Discounts and sales offered by the largest drug retailing chain gained a lot of traction and generated lot of conversations among consumers on Social Media.
Know more about the “Best Practices for Effective Social Media Marketing” in our next blog>>>>