Social business network Loopthing has today announced the launch of a performance-monitoring application for social media.
According to the Cork-based company, the app, known as the OpenScore, enables businesses to analyse their social media performance.
“For social media and social technology to really work for businesses, they need to be able to measure impact,” said Joseph Kelly, CEO, Loopthing. “The OpenScore enables performance monitoring which in turn leads to strategic online and social media campaigns with enhanced results.
“Social networking sites like Facebook and Twitter, bookmarking sites like Digg and StumpleUpon, blogs and media in the format of video, audio and images, are the areas that businesses need to concentrate on if they are to fully harness the benefits of the internet.”
Kelly quoted a recent study by Mzinga and Babson Executive Education, which found that 84pc of the 86pc of professionals engaging with social media do not measure how their online activities translate into a return on investment. “The OpenScore application provides professionals with a method of easily measuring their online marketing activities,” he said.
“Marketing on the internet demands an entirely different approach to marketing offline. To this end Loopthing has integrated a training area as part of the OpenScore, providing tips and advice on how to improve performance and interact fully with social media to widen exposure on the internet.”
The OpenScore analyses a range of factors, including: activity rate/presence on internet; time; level of visibility to others; the amount of media files they upload; the amount of information they provide about themselves; and the number of people talking about them on the internet. Different weights are applied to each factor to provide a comprehensive analysis of online activity. A free version detailing basic information and a paid version with a range of analysis tools will both be available.
The company also announced that more than 24,000 companies are now profiled on the Loopthing social business network, with the number increasing at an accelerated rate month on month. The network had its soft launch in April of this year.
Article courtesy of businessandleadership.com