Social media platforms, along with the number of users, continue to grow at an incredible rate and the amount of updates, tweets and links that are sent all over the world each day is nothing short of staggering.
An online social media presence has become the norm for any company, but its effectiveness can be determined by whether these channels are used purely for promotional purposes or are actually used to analyze what other users are saying about them.
F**k it, we'll do it live!
Our biggest ever edition of TNW Conference is fast approaching! Join 10,000 tech leaders this May in Amsterdam.
A major challenge, when trying to do market research or analyze social media trends, is the massive amount of information you have to sort through. Korean startup Treum is a social intelligence company which specializes in providing high-profile companies with solutions for analyzing various elements of social media. This information can then be used to improve marketing, customer relations and more.
The startup offers a service named SimPL, which stands for Social Influence Monitoring Platform. It is essentially a social media analysis solution which allows users to monitor how information and trends are spread on Twitter and other networks.
The service offers various ways of displaying statistics and information visually, using graphs and matrices, making it easy to view the origin of tweets and in which direction they are being retweeted. Discourse patterns and differing opinions can be also tracked easily to gain an understanding of how people feel about a certain topic.
Nevertheless, Treum CEO Leo Kim says that simply showing how information on social media platforms is spreading is not enough,
“Our clients increasingly request a social media analysis platform but are also often frustrated by its quality. Some of them started to seek a balanced service that provides both a well-made dashboard (monitoring system for social media) and reports with implementable advice.”
As well as in-depth research reports, the startup offers strategic consulting so that companies can measure the ROI of campaigns being carried out in the digital world. Risk management also helps companies recover quickly in the event of an unhappy customer spreading incorrect or negative information.
Kim says that the hardest thing is filtering out the noise:
Gathering total data itself is not menacing at all. You cannot simply grab everything and claim you know everything.
Semantic network analysis helps hunt out key words and other relevant phrases. Kim says that Treum plans to integrate semantic analysis with its other key solution – actor analysis – which focuses more on which members in the social media community are the most influential.
Plainly speaking, you’ve got to know who are the most important people in mass, be it online or offline, communication and understand why they are so. The latter part involves the content of those people’s communication, and it needs to be analyzed more thoroughly and instantly.
Leo Kim has started a Ph.D. in social psychology at the London School of Economics and is highly interested in the psychology of the general public. Along with his two partners, Lee Jongdae and Son Sangweon, he founded Treum as a private business in September 2010 and incorporated in March last year.
A self-funded startup, Treum has survived solely on its revenue and is now looking into the possibility of seeking investment.