London, 19 April 2010:

The reputation management industry is expected to grow significantly in 2010, according to research published by Econsultancy. Strong growth has been fuelled by the rise of real-time and social media, and also stems from greater awareness by companies of the potential risks associated with failing to monitor brand online.

The continued growth of this sector is because of increasingly sophisticated technology, the need to generate actionable insights from social media, and the increasing impracticality of tracking online reputation manually, according to Econsultancy’s latest Online Reputation and Buzz Monitoring Buyer’s Guide.

Econsultancy’s Senior Research Analyst, Aliya Zaidi said: “This market is really starting to take off; more companies are investing in analysing the insights generated from social media channels.

“The important of understanding what people are saying about you has never been greater; as more brands start experimenting with social channels, some brands will inevitably make mistakes. Monitoring can help prevent the rapid distribution of negative sentiment, and as a consequence, more companies are starting to see the value and take reputation management seriously.”

Despite this growth, the biggest barrier continuing to challenge companies in this space is resourcing and hiring staff with the right skill set. Zaidi continues: “The insights from social media have implications for every department within the organisation. It’s no longer sufficient to hire the intern or the recent graduate to manage your brand, as many companies have learned to their detriment. Companies need to hire analytical people with deep experience of marketing and PR, in order to reap the most benefit from social media channels.”

Vendors are also facing less competition from free tools as demand for enterprise-level services grows. Free tools such as Google Alerts are a useful resource for companies but there is a growing level of investment in technology that can analyse insights at a deeper level. Although some companies are still relying on free technology, these can act as a useful first step into the industry, and are often used in combination with a paid-for monitoring tool.

Headline market trends

• Market set for strong growth as rise of social media increases importance of online reputation
• Buzz monitoring becomes a hygiene factor for businesses seeking to manage risk
• Companies strive for structured approach and workflow, to make insights actionable
• Businesses wrestle with ownership and resourcing
• Digital marketers struggle to find right metrics
• Growing competition likely to trigger industry consolidation
• Free tools create demand for enterprise-level products

About this report

This buyer's guide has been written for those who are looking for technology and services relating to online reputation monitoring, with profiles of 18 leading suppliers.

The report contains information about market trends and advice about this marketplace and how to find the right supplier.

There is also guidance about pricing models and costs, and a market analysis to build your understanding of this sector. There is also a section on how to find the right supplier, with tips and pitfalls for companies looking for the most suitable supplier.

Which vendors are featured in the buyer’s guide?
ASOMO, Attentio, AT Internet, BrandsEye, Brandwatch, Cymfony, Hapax, iCrossing Network Sense Monitoring, Onalytica, Market Sentinel, Meltwater Group, Nielsen BuzzMetrics, Radian6, Sentiment Metrics, Social Radar, Sysomos, Trackur, Visible Technologies.

Report URL:
http://econsultancy.com/reports/online-reputation-and-buzz-monitoring-buyer-s-guide/

Journalists
Please contact Econsultancy for more information about this report.

Media contacts:
Aliya Zaidi, Senior Research Analyst, Econsultancy
(e: aliya DOT zaidi AT econsultancy.com or t: + 44 (0) 269 1466)

About Econsultancy

Econsultancy is a digital publishing and training group that is used by more than 200,000 internet professionals every month.

The company publishes practical and time-saving research to help marketers make better decisions about the digital environment, build business cases, find the best suppliers, look smart in meetings and accelerate their careers.

Econsultancy has offices in New York and London, and hosts more than 100 events every year in the US and UK. Many of the world's most famous brands use Econsultancy to educate and train their staff.

Some of Econsultancy’s members include: Google, Yahoo, Dell, BBC, BT, Shell, Vodafone, Virgin Atlantic, Barclays, Deloitte, T-Mobile and Estée Lauder.

Join Econsultancy today to learn what’s happening in digital marketing – and what works.

Call us to find out more on +44 (0)20 7269 1450 (London) or +1 212 699 3626 (New York). You can also contact us online.

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Published on: 12:26PM on 19th April 2010