April 10, 2012

Introducing the Wine Industry Social Media Index – One Score to Rule them All

The Winery Social Index was built as a tool to help you measure your Social Media Efforts

We have been building feature after feature in our software for the wine industry.  Two of the most common questions are “what should I be measuring” and “what is the right ratio of activity to fans.”  Thus we have created the Wine Industry Social Media Index.  It was inspired by the http://www.socialbusinessindex.com/ from the Dachis Group.  What is it?  You can see it in action here: http://cruvee.com/brand-index/score

But to get deeper into the details, the Winery Social Brand Index is a proprietary algorithm created to determine the social media health of a winery. The Index is still in Beta and measures across multiple PUBLIC data factors including engagement, activity, fan growth, ranking within the wine industry, and much more. Primarily the index is a measurement of what we feel are PROPER engagement ratios and HEALTHY fan growth. The Index by no means measures quality of a winery’s social media posts BUT the level of engagement as a result of the posts are indicative of quality. The score should be a key performance indicator above any for the health of a winery’s social media efforts.  It is also a great place to see trending lines of other wineries in the business to see what they are doing right, wrong and how they are trending.

More notes about the Index…

The index changes daily and is measured over a running period of several days. Of the total factors the algorithm measures, Engagement and Healthy Fan growth, which are weighted the heaviest. Anomalies like tiny fan base with high standard deviation of engagement are accounted for, as are “noisy” Twitter accounts.

Caveat – The Index will be volatile over the next 15 days since the history in the index is limited and the quantity of wineries (approx. 800 and only 15 days of history for some of the key data points).  We will be adding wineries over the upcoming weeks or wineries can add themselves to see their score.  Wineries can not delete themselves from the index.

If you have questions about the index, your brand, or want to add/change your brand, please email paul@vintank.com. Anyone can submit updates to wineries in the index (there are update links for each winery) but all updates will be reviewed by our team. If you are a VinTank customer you can log in to update your info to see your Index rating or change it to the proper Facebook page/Twitter Handle. Changes will take 24 hours to update in the Index.

If you are not the winery owner but see an error or want to see a winery listed, please go here: https://cruvee.com/Signup/start.

 

  • http://twitter.com/vinesleuth VineSleuth

    This sounds interesting. The fact that it is measuring engagement and not just fans or followers is a huge step.

    Will any other social media channels be included? Pinterest is also hugely popular as people pin wines they enjoy & recommend, wineries they have visited, would like to visit, etc..

  • http://wineindustryinsight.com/?p=43714 NEWS FETCH – APRIL 11, 2012 | Wine Industry Insight

    [...] Vintank Intros Wine Industry Social Media Index – How Do You Measure Up? [...]

  • http://www.facebook.com/pmabray Paul Mabray

    Currently we measure only the two key SM platforms.  We are looking at G+ and Foursquare next.  Though Pinterest has an amazing incline of users, we are still on the fence regarding its value to the wine industry but watching it closely.

  • http://twitter.com/sfwineblog John Trinidad

    Paul – Interesting.  Anyway to cut the data by total case production?  

  • http://twitter.com/DonelanWine Tyler Thomas

    Interesting stuff.  Like John I would be interested in seeing the breakdown by case production.  Anyway to add that filter?

  • http://throughthebunghole.com/archives/418 Which Wineries are Most Engaging? » Through the Bunghole

    [...]  Marketing, Trade  Add comments Apr 112012   This week VinTank released their Wine Industry Social Media Index. For those of you unfamiliar with VinTank, they are a software company that provides social [...]

  • http://twitter.com/DonelanWine Tyler Thomas

    Paul, one more thing. Does the rating partially indicate people who have used their keywords more effectively and weight toward those who are using the higher level of service?

  • http://www.facebook.com/pmabray Paul Mabray

    We are going to add that over time but we tried to make an even algorithm that ensured small and large wineries could be measured on equal ground.

  • http://www.facebook.com/pmabray Paul Mabray

    Tyler,
    The algorithm does NOT use any “earned media” that is gathered by our software but only uses publicly available data from Twitter and FB.  We are thinking of including the data we gather in a future iteration of the algorithm.

  • http://www.facebook.com/pmabray Paul Mabray

    Working on it.  Ironically some wineries don’t want to share their case production.

  • http://residualrx.com/2012/05/30/french-wineries-sip-on-social-american-wineries-lap-it-up/ French wineries sip on social, American wineries lap it up | ResidualRx.com

    [...] April this year, a Wine Industry Social Media Index was created by industry social intelligence firm Vintank. The index, which changes daily and is [...]

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