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In episode nine of the Tech Product Review podcast supplement, guest expert Andrew Jenkins chats with host Bill Banham talk about Rival IQ, a social media marketing analytics platform with advanced competitive analysis, SEO, social reporting and content marketing tools.
Listen to the show here.
Read the transcript:
Bill Banham: Welcome to another episode of the CPSA Product Review podcast with guest expert, Andrew Jenkins. In this episode we're going to be talking about Rival IQ.
Andrew Jenkins: Thanks for having me.
Bill Banham: Well firstly Andrew, if you don't mind expanding upon my wee introduction there, what is it and what does it do?
Andrew Jenkins: Rival IQ is a very, very powerful analytics solution, that will take a look at an organization and others that you either want to compare it to, from a competitive analysis point of view or just performance. And it looks at them across all of their social properties from Facebook, Twitter, Instagram, YouTube, Pinterest, Google Plus and will rank them by audience size, performance, engagement et cetera. It will, depending on the package you have from Rival IQ, it will go so far as to give you a sense of whether or not certain posts from your competitors, were likely boosted, by that I mean had ad dollars behind them. This is especially in the case of Facebook.
If you're a sales person or a marketer and you're able to go to your colleagues at work and say, "Listen, one or more of our competitors is doing advertising on Facebook and we're not. They are likely reaching more of their audience and potentially our audience, with their content. They're having more influence than we are and so we need to step it up."
Bill Banham: Okay and what are two or three of the benefits that you've seen?
Andrew Jenkins: Well beyond the one I just flagged about showing whether or not your competitors are boosting content on Facebook, as an example. Being able to do an indepth comparison of your firm and its social activities, in relation to its competitors or comparative organizations. If you just want to gauge how well are we performing in relation to similar peer organizations in our industry. For example, a non-profit doesn't really compete with others or there might be some peer organizations that they want to measure themself against.
Being able to determine how well are we doing across all these different social channels, from an audience growth, engagement, how well is our content performing. This is a tremendous amount of insights that can be captured and you can compare yourself to yourself and say, "Well, for the last 90 days, how well have we done in relation to the 90 days that proceeded it?" as an example. It's a very, very powerful analytics solution from a performance related to your efforts and a performance in relation to your content.
Bill Banham: Sounds good but are there any shortcomings and anything that you would want to see more from?
Andrew Jenkins: You can compare your organization to others across Facebook, Twitter, Instagram, Google Plus, Pinterest and et cetera. You can't do it to Snapchat and you can't do competitive analysis against LinkedIn, but in fairness to Rival IQ, neither Snapchat nor LinkedIn allow that.
You can analyze your own LinkedIn company pages performance because you have administrative rights for it but the LinkedIn API doesn't pass competitive data from other pages. Where Rival IQ is able to get those sorts of insights of Facebook pages from your competitors or comparative organizations and present it to you in a variety of ways. That would be, I'll call it one shortcoming.
Bill Banham: And money, money's always important. Is there a cost and if so how much is it?
Andrew Jenkins: You can start for a relatively inexpensive, around I think the $100 mark. We're on an agency package. You pay quarterly and it's predicated on the number of companies that you're looking at, on any given month. And so they have a concept called "landscape" so I might create a landscape that either pertains to an industry or let's say my company or my client's company is ABC Company.
I might title landscape "ABC" and then look at ABC Company and maybe two or three other competitors within that landscape, and if it's three competitors and ABC Company that's four companies that count against my limit. Maybe I have 10 companies I'm looking at or 25 and you're able to swap a certain number of companies out every month, to a limit.
Bill Banham: Would you say that it's more based on projecting to understanding a B2B audience or a B2C audience or is it a bit of both?
Andrew Jenkins: No definitely both. It's showing how well your organization is doing in relation to others or in relation to itself. How well you're doing with your social media strategy and activities. Is your engagement going up, is your audience growing, is your community expanding and as well from a visualization and comparison, really enables you to drill down and find out what were the top posts in a particular period of time.
We've done comparisons with clients where they ran an ad campaign on Facebook, in a period of time when we weren't working with them. And we were able to go back historically look at that data and compare it to an ad campaign we ran on Facebook for them and show the distinction of better allocation of dollars. A variety of things that we were able to improve upon and prove it. It doesn't matter for B2B or B2C, it's really it would be helpful to both kinds of companies from a performance and analytics point of view.
Bill Banham: Are there any rivals to Rival IQ and, if so, who are they?
Andrew Jenkins: Not as comprehensive but there are rivals like Clear. No disrespect to Clear because it's a solution we use. Clear skews more towards influence or identification and so on but it does do a performance analysis and comparison but not to the same extent. They have different areas of primary focus than Rival IQ does. There's another solution out there called Fanpage Karma, that is specific to Facebook and to Twitter but it doesn't branch out beyond that to other social accounts and then there's also Socialbakers.
Bill Banham: One last question Mr. Jenkins and this is always your favorite I'm sure. Ladies and gentleman it's that time when I ask Andrew, out of five, what would you rate Rival IQ?
Andrew Jenkins: I'll give them a four and a half as well. They are over time, increasingly they are becoming one of the more predominant solutions we use. From a sales point of view because we work in social media or even just using the analytics to justify a particular action, we're able to go to a company as a pitch to say, "You could use our help because our analysis on what you're doing in social and we can help you in the following areas. Here's how you're stacking up against your competitors."
Or if you're someone who works internally within an organization, who needs to make a case for more ad budget for Facebook or more resources related to social, then Rival IQ is going to surface that for you. Or if your area of content, you can show them what content is performing and what isn't. The power of its analytics, is great for using as the basis for making a case for more resources, more budget, whatever.
Bill Banham: Super, well that just leaves me to say as always, Andrew Jenkins you superstar. Thank you very much for being a guest on the show.
Andrew Jenkins: My pleasure, thank you very much.
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