Social media is an entirely new form of mass media. Enterprises are reaching out to large groups of consumers through social campaigns. It’s just as important, if not more so, to measure the performance of the different forms of social media as it is traditional print or broadcast media. This is why Falcon Social provides a complete view of enterprises’ social media campaigns and the various consumer conversations happening across social media channels. It is also why we describe Falcon Social as an enterprise social media management platform. For large enterprises, managing social media can be complicated. Platforms need to be scalable and enable teams to coordinate efforts for a number of campaigns at the same time. Falcon Social meets each team’s different requirements and covers everything from strategy to execution to performance monitoring and reporting, so organisations can see who is doing what and how consumers are responding.
For years analysts seemed out of step with the reality of our social media management market. They viewed it as an extension of the Customer Relationship Management (CRM) software market or as tools for individuals using specific social media channels. Gartner has described social media platforms as providers of social CRM. However, CRM is about marketing to individuals.
Now analysts are catching on to enterprise social media management platforms – designed for teams to manage mass media.
In Q2 this year, research firm Forrester published its Social Relationship Platforms report on some of the US vendors in this space. Forrester highlighted a list of nine criteria it expects from a social relationship platform. Falcon Social offers all nine. These are: posting text, photos, videos and surveys on social networks; creating applications for social networks; managing multi-user permission levels; offering workflow tools; monitoring and responding to user posts on branded social profiles; and monitoring and responding to users’ comments in social media. Forrester’s report found that because the social relationship platform market is immature, nobody has a perfect presence. We believe the European market is leading the way in social media marketing as, unlike US vendors that tend to focus on their domestic market, European vendors have adopted a global approach. US companies with global operations, such as Warner Music Group, are coming to us because we are multi-lingual, operate in a number geographies and our platform has global capabilities. This is crucial as social media is a global phenomenon. We believe social media will become the most important communications medium which every department in an organisation will need to use. The market may be immature but it is attracting significant investment. Falcon Social recently benefited from a €6m financing from Target Partners who see the potential in our enterprise view of the market.
We invest heavily in research and development to ensure our platform stays ahead of the latest trends and enables enterprises to realise the massive potential of social media. As analysts begin to recognise our platform and the importance of an enterprise approach; we are excited to be positioned at the forefront of this market.