Social media management platform Hootsuite has debuted its Love List, a monthly report that measures how consumers react to brands on social by examining the conversations between brands and consumers. This report will give brands an opportunity to gauge how consumers perceive them, and improve their score by having more positive conversations with their audience on social media.
It may sound like a prop from the set of “Mean Girls”, but social media management platform Hootsuite has launched The Love List, or what it calls “a recurring monthly report which ranks more than 450 of the world’s top brands on which are seeing the most love on social media.”
The Love List was created as an “easy-to-understand metric that could be applied across the entire enterprise,” according to Mark Pascarella, the general manager of uberVU via Hootsuite, which is a listening, social monitoring and advanced analytics product.
The Love List uses data from uberVU to pull in hundreds of millions of publicly available social media posts from networks like Twitter, Facebook, Google+, and LinkedIn, as well as about 20 additional platforms.
“It’s that broad-based collection of social insight, or what we consider to be the entire social web – blogs, forums and comment systems where people have social discourse – that we bring in for a complete 360-degree view,” Pascarella said.
Brands are ranked using three data points over the course of a month, including the total number of brand mentions, the sentiment score for the brand, and the percentage of social conversations about the brand containing the word “love.” Each brand is assigned a score between 1 and 100.
The top 10 brands in October were:
- Renaissance Hotels
- The CW
- West Elm
Hootsuite notes October’s findings include a large number of “accessible” brands like Dove, Kohl’s, Friskies, Avon, and The CW, as well as a number of brands that “straddle the line between accessible and aspirational,” such as Nordstrom, TripAdvisor, Renaissance Hotels, and West Elm.
“We had this gut feel going in without looking at the data that there would be a number of luxury brands in the top rankings, but only one luxury brand appeared in the top 25, Chanel, and the next [brands like Capital Grille and Bergdorf-Goodman] are clustered around 100,” Pascarella said. “[The top-ranked brands are] the brands that were able to successfully cultivate a really passionate fan base by using inspired or amusing campaigns or giveaways or contests…as well as [those that have] fans [like] the CW television network that really engage in word of mouth.”
For its part, Hootsuite says Dove has successfully optimized its Real Beauty campaign to gain traction on social, “which is known for encouraging women to take a positive stance on their bodies.” Further, citing a 2014 Pew Study, Hootsuite says women are the more active gender on social media and the Dove campaign encourages “positive social conversations among this audience” which comprised 78 percent of the conversations about Dove.
Hootsuite says it will update the Love List each month, showcasing which brands have moved up or down in rankings based on the changes in mention volume, sentiment and social conversations. Each month’s results will be shared on the Love List website and discussed in webinars. Further, Pascarella said Hootsuite sees this as an opportunity to create an ongoing record of insights and trends.
One benefit to brands is the ability to benchmark their success against competitors, according to Hootsuite.
“The starting point was we wanted to use analysis versus just a tally of likes and shares to put together a measurement of how consumers are reacting to brands – not just popularity, but instead a metric that measured how consumers are reacting to those brands via social,” Pascarella said. “One of the key elements was the ability to look at two-way publications. So much in the past has been a collection of likes and shares. What we want to get to here is the ability to look at both sides of a conversation and come up with a single easy-to-understand metric.”
In the future, Hootsuite will also look at which brands are winning in certain regions and industry categories, Pascarella said.