Eric Schwartzman on Media Monitoring
Good Morning. Welcome to marketing over coffee. I'm John Wall today. Our guest is Eric Schwartzman. I've known Eric since the earliest days of podcasting you're onboard. Two thousand five two thousand six era but always focused on PR TODAY. And you've got a new report that we're going to be talking about so we'll jump into that but thanks for joining us today. Yeah thanks for having me. It's great to be back with you. Now you're known as the founder of Ip our software you've worked in the PR and PR monitoring space gives us a just the overview of this report. What's this report you've put together? And what drove you to do this research? So this is the twenty twenty media monitoring buyer's guide and I was down at the PR say international conference in San Diego. And I was talking to some of the different vendors out there with their products and there seemed like there was so much misinformation out there and really no easy way for people to get a sense of what products can and can't do and originally. I was just going to read a blog post but it spiraled out of control and became a fifty four page buyers skied. I analyzed and reviewed. I don't WanNa say the top ten media monitoring platforms because it's not a definitive list. But I basically started with the Vendors that were exhibiting at the Pierre Say International Conference added a few more created a side-by-side features comparison chart. So you can quickly see. Who Does what I did. A USER RATINGS CHARTS. You can see what their customers think about them and You know for buyers. I also created a list of questions you can use when talking to sales reps about their platforms. So you don't necessarily have to test drive it for a few weeks and see what it does. You can sort of get a sense of their capabilities before you agree to actually give it a try and then I also analyzed some of the most common challenges that marketing PR people have around media monitoring. So there's a lot of useful information in the report. Yeah no it's fantastic. I mean I love the fact that you hit all the major thanks. You know you go into the features that people want you do a great overview of kind of what the state of the nation is as far as what these tools can do and can't do and what to expect but then the big meat to is. I nearly half of it is digging into that list of ten or so vendors that are on the edge and so anybody that's going to be buying the space this just saved them thousands of hours of having to wade through all kinds of extra stuff but for folks that aren't familiar with these products and kind of what they do. What are the big the shortlist of features that people are looking for the software to do for them? So you know. Most media monitoring services have access to the same traditional and social media news feats that's pretty much square one right you sort of take in and ingest all these feeds at square one. The interfaces will let you introduce bowland keyword filters to sort of hone in on the right information and then after you've done that you can start to leverage some narrow. Ai Artificial intelligence algorithms to evaluate sentiment at the entity level tag articles by concepts detect geographical origin. Stuff like that you can even try out relevance and sentiment filters But you know you need to be prepared in step three to really check those last two for accuracy used to be back in the old days that media monitoring was really about sort of aggregating and counting the feature stories and media. Mentions you got for your client or your company. But now it's become much more about strategic insights by sort of finding the intersection of your internal data and external data which is why ability to import stuff like call center transcripts and sales figures. I mean even stock market data or the consumer confidence index is so important he can start to spot patterns and figure out how that activity correlates. Kpi's so you know it used to be about sort of seeing what people are saying about you and trying to get a sense of what widespread beliefs are and it still is to some extent but it's also about comparing that now to external data to try to get some actionable business intelligence.