Compass Labs‘ real-time social media solution is designed to target potential buyers at the moment they are contemplating a purchase in order to improve engagement, conversion and ROI for advertisers. Operating across Facebook, Twitter, other social networks and thousands of discussion forums, Compass Labs can help brands bring relevant and timely advertisements to the 200 million plus US social media users – many of whom spend several hours a day on social media – based on their expressed interests and intent.
Ways the product benefits social media campaigns
Compass Labs allows advertisers to more precisely target, on social networks and discussion forums, users with specific interests and/or users who are about to buy the advertisers’ product or service. It constantly monitors performance across social networks and refines campaigns as necessary to maximize performance and ROI.
Users receive information created to minimize time spent researching products and comparing features outside of the social network – with the intent of influencing purchasing decisions. Brands can reach and engage a large scale of users; direct response advertisers can increase levels of traffic; and discussion forums, social applications and web publishers can use Compass Labs’ to improve monetization.
Compass Labs is designed to deliver highly relevant and timely social information to users by interpreting and extracting meaning from social content.
- Uses sophisticated intent and interest extraction technologies, machine learning and statistical methods on publicly available social information. This information can help ensure that advertisements served to social media users are relevant.
- Identifies interesting information about users such as expertise in a topic, influence levels, ownership of products, etc.
- Optimizes advertisers’ ad budgets between social networks.
- Targets users’ interests and intent so advertisers may serve highly targeted and relevant ads on mobile devices, without traditional cookie tracking data.
- Advertisers who want to:
- Acquire leads from social networks, a new source
- Build brand affinity with specific audiences
- Acquire social shoppers
- Acquire fans, followers
- Reach influencers for specific topics, audience segments
- Maximize exposure and effectiveness on social networks, for the least cost
- Publishers of social network clients and apps that want to monetize their product while maintaining a superior user experience
“Compass Labs’ ability to interpret and act on conversations happening in the social stream, combined with their unique precision ads targeting capabilities, opens the door to a new level of consumer engagement as well as providing new opportunities for Seesmic plug-ins. By partnering with companies that further enhance the offerings we provide to consumers, advertisers and publishers alike, Seesmic will continue to evolve as the leading consumer platform.” – Loic Le Meur, CEO, Seesmic
Compass Labs launched their new consumer widget for the Seesmic Desktop Platform. It also announced a partnership with Echofon, a suite of Twitter applications for the iPhone, Mac and Firefox, where Compass Labs will serve ads to Echofon’s desktop and mobile applications.
Priced on a performance basis, i.e., cost-per-action, cost-per-engagement.
Compared to competition
According to the company, “When compared to other advertising technologies, including direct response, the new types of social media interactions made possible by Compass Labs presents a better platform for advertisers to develop relationships with customers.”
Our “What You Should Know” series of application profiles has been helping brands and agencies select the most appropriate tools to improve the effectiveness and efficiency of their campaigns. Need help measuring or monetizing your social media activities? Check out 29 more apps in the series archives – one is bound to come to your rescue!