We are excited to release the first-ever top social brands of 2008 list, The Vitrue 100. Last year we launched our Social Media Index (SMI) which is designed to capture a brand’s share of voice on the social web.
The paradigm shift that social media has created for brands is significant and marketers who are not embracing social media need to take notice. What was an afterthought of marketing, just a few years ago, has now emerged as a significant part of the marketing mix and it continues to grow fast. The Vitrue 100 list represents companies who are establishing their social presence and doing so successfully.
We established The Vitrue 100 to help bring credibility and clarity to this emerging space. The Vitrue 100 helps define who is winning, who could be doing better and provides the industry with overall trends.
The Vitrue 100 is the result of Vitrue’s daily analysis of over 2,000 popular brands.
Each day, Vitrue analyzes the online conversations on a variety of social networking, blogging, microblogging, photo and video sharing sites.
The Vitrue SMI calculates scores about the brand’s social conversations. We apply a series of algorithms to reflect the frequency of usage, the size of the social media environment, and the magnitude of the conversation. The result is a single numeric score for each brand: the Vitrue Social Media Index (SMI).
The Vitrue SMI is a unit-less number and that can be compared with other Vitrue SMI scores to provide a simple, relative measure of conversations on the web.
The two most common uses are:
- Tracking movement of a single brand over time
- Comparing a brand with its competitors, either at an individual point in time or over a period of weeks or months
The changing world of online conversations results in significant movements up and down for brands. The Vitrue 100 was determined by averaging the SMI scores for each brand across each day in December 2008. The result is a ranked list of the brands which are most talked about on the social web.
Because people often do not use a product’s full name in online conversations, we adapt our results to reflect common language usage. This dynamic process continues to evolve along with brands and language itself, with the goal of having the Vitrue SMI reflect the way people actually speak and type about brands.
Vitrue’s SMI reflects a combination of patent-pending technology, proprietary methodologies, and continuous refinement based on daily feedback and calibration. It provides the marketer with the industry’s simplest, most direct snapshot of conversations on the social web.