But can it drive social networking profit?
Enterprise search vendor Autonomy has released a new web content management platform that can monitor conversations of social networking sites and present companies with potential new revenue opportunities.
Autonomy Interwoven Social Media Analysis, built on Autonomy’s IDOL search technology, is said to listen to social media content and analyse the dialogue to understand sentiment. Marketers can then act on these insights to protect their brand and drive revenue growth, Autonomy said.
Traditional keyword-spotting solutions struggle with social networking sites, Autonomy believes, as the language used is often more conversational and littered with slang, making the context difficult to pick up.
Anthony Bettencourt, CEO of Autonomy Interwoven, said: “Social networks – which by nature are dynamic, unstructured forms of information – do not fit neatly into traditional, database driven analytics systems.”
“Autonomy Interwoven’s Meaning Based Marketing approach, which can derive meaning from human friendly information, and empowers marketers to automatically act on those insights, will transform how organisations engage with customers in the years to come,” Bettencourt said.
The company uses the example of a clothing retailer identifying a spike in positive talk about a celebrity wearing an item of their clothing to show how the product may drive profit. The clothing company can immediately add that item of clothing to its homepage and launch targeted campaigns aimed at people interested in that item of clothing or celebrity.
The IDOL technology can also pick up on negative chat surrounding a product. The company can then use Autonomy Interwoven’s TeamSite and LiveSite to offer targeted content that it hopes users will be more interested in.
The platform uses intelligent connectors in social networking sites including Facebook, LinkedIn, YouTube and Twitter to enable a single point of search for all user generated content.
Autonomy acquired content management maven Interwoven in January 2009 for $775m. In an exclusive interview with CBR at the time, CEO Mike Lynch said that one reason for the purchase was that more traditional content management systems are not good at understanding the meaning or context of the content.
“We can understand the meaning of content,” Lynch told CBR, “while the CMS [from Interwoven] is good at putting information around the content, like who checked it in and checked it out; as well as put a nice front end on it to make it intuitive to use.”