Home Depot and Lowe’s among 8 retailers who ‘get’ social media
By Jay Keller
Actually, “net sentiment” is just one of the factors contributing to a new survey that plugs into the equation the effectiveness of social media efforts at Fortune 100 companies before re-ranking the list.
The 2012 Social Media Effectiveness Index (SEI 100), released Thursday by Blueocean Market Intelligence, surfaces how industry-specific champions score when measured by a brand’s share of voice, customer engagement, influencers/advocates and, of course, net sentiment.
A score is calculated after mixing this data with other key business metrics like social media market share, brand awareness, marketing strategy, consumer experience and brand perception.
In the retail sector, eight companies scored high when measuring how business-to-consumer Tweets or Facebook interactions drive site visitors and purchase behavior.
Home Depot dominated the list with an “SEI score” nearly double that of Lowe’s, the second-ranked company in the list.
Costco, Walmart and Target rounded out the top five while Kroger, Best Buy and Sears completed the list of eight.
Of the eight companies who made the list from the retail sector, only Walmart ranks in the top tier of the Fortune 100 list with a second-overall ranking. None of the others rank higher than 23rd on the list.
After the SEI 100 rankings are applied, top-ranked Chevron on the Fortune 100 list falls to 66th after bringing social media efforts into the mix.
Similarly, Honeywell International tops the SEI 100, moving from 77th on the Forbes 100 list.
Blueocean intends for the “index” to provide a new, standard methodology for measuring any company’s potential for market leadership and influence over the customer experience that includes the social sphere.
“The top performers have higher scores across a combination of relevant social media attributes, and are best positioned to gain and retain customers and brand advocates in the social universe,” Blueocean SVP Prashant Parida said in a company statement. “Businesses of all sizes can benefit from their experience and learn how to better harness social media technologies.”