Research and analytics firm Blueocean Market Intelligence announced it received a 2013 Bees Award for its proprietary Social Media Effectiveness Index (SEI) in the category of “Best Social Media Marketing Theory.”
SEI is a ranking methodology developed by Blueocean Market Intelligence that measures a company’s social media effectiveness with a singular, representative score. It takes a business’ key metrics into account, such as a brand’s share of voice, customer engagement rate, customer touch rate, number of brand influencers and advocates, and net sentiment.
“Most companies use popular traditional analytics tools to measure social media efforts. However, those tools rely on unreliable data, inaccurate sentiment analytics and a lack of in-depth analysis,” said Blueocean Market Intelligence Chief Executive Officer Kumar Mehta. “Blueocean’s SEI model was built to help companies move beyond basic data and generate actionable insights derived from refined social intelligence.”
The Bees Awards is the first international social media competition honoring communication and marketing professionals. Practitioners in more than 50 countries have submitted entries since the awards program’s inception in 2010.
Blueocean Market Intelligence utilized its SEI to compile a 2013 ranking assessing the social media effectiveness of global Fortune 100 companies. The company plans to compile and publish the second biannual ranking later this summer.
“It’s critical that companies understand and monitor the social media landscape, and develop a tangible process to measure their return and achieve accelerated growth,” said Mehta. “With SEI, companies can completely align their activities with core business objectives, create impact across all functions to drive growth and profitability, and harness the true potential of social media.”
To learn more about Blueocean’s Social Media Effectiveness Index and download a case example based on a leading technology brand, visit www.blueoceanSEI100.com.