Industry specific brand benchmarking system based on social media strength of a brand

A computer implemented system for benchmarking a brand based on social media strength of said brand, comprising:

• a brand monitoring platform comprising at least one processor configured to execute modules of said brand monitoring platform for monitoring said brand in a virtual social media environment, said modules of said brand monitoring platform comprising:
• an information acquisition module that acquires input information on said brand;
• an industry identification module that identifies industries related to said brand and competing brands in said identified industries using said acquired input information on said brand;
• said information acquisition module that acquires social media information related to said brand and said competing brands in said identified industries from a plurality of social media sources in said virtual social media environment via a network;
• a category generation module that dynamically generates categories in one or more hierarchical levels in each of said identified industries based on an independent analysis of said acquired social media information related to said brand and said competing brands from each of said social media sources;
• a sorting module that sorts said acquired social media information related to said brand and said competing brands in said each of said identified industries into one or more of said dynamically generated categories in said one or more hierarchical levels using a sorting interface;
• a scoring module that determines an audience score for said brand and each of said competing brands by measuring an aggregate reach of said brand and said each of said competing brands in said virtual social media environment based on one or more of a plurality of weighted audience score metric parameters using said sorted social media information;
• said scoring module that determines an engagement score for said brand and said each of said competing brands by measuring interaction between said brand and said each of said competing brands and their followers based on one or more of a plurality of weighted engagement score metric parameters using said sorted social media information;
• said scoring module that generates an aggregate score for said brand and said each of said competing brands using said determined audience score and said determined engagement score;
• and
• said scoring module that determines said social media strength of said brand in comparison with said competing brands in said virtual social media environment by assigning a rank to said brand and said each of said competing brands based on said aggregate score for said benchmarking of said brand based on said social media strength of said brand in comparison with said competing brands in said virtual social media environment;
• whereby said generated aggregate score of said brand and said each of said competing brands benchmarks said brand based on said social media strength of said brand in comparison with said competing brands in said virtual social media environment.

A computer program product comprising a non-transitory computer readable storage medium, said non-transitory computer readable storage medium storing computer program codes comprising instructions executable by at least one processor, said computer program codes comprising:

• a first computer program code for acquiring input information on a brand;
• a second computer program code for identifying industries related to said brand and competing brands in said identified industries using said acquired input information on said brand;
• a third computer program code for acquiring social media information related to said brand and said competing brands in said identified industries from a plurality of social media sources in a virtual social media environment via a network;
• a fourth computer program code for dynamically generating categories in one or more hierarchical levels in each of said identified industries based on an independent analysis of said acquired social media information related to said brand and said competing brands from each of said social media sources;
• a fifth computer program code for sorting said acquired social media information related to said brand and said competing brands in said each of said identified industries into one or more of said dynamically generated categories in said one or more hierarchical levels using a sorting interface;
• a sixth computer program code for determining an audience score for said brand and each of said competing brands by measuring an aggregate reach of said brand and said each of said competing brands in said virtual social media environment based on one or more of a plurality of weighted audience score metric parameters using said sorted social media information;
• a seventh computer program code for determining an engagement score for said brand and said each of said competing brands by measuring interaction between said brand and said each of said competing brands and their followers based on one or more of a plurality of weighted engagement score metric parameters using said sorted social media information;
• and
• an eighth computer program code for generating an aggregate score for said brand and said each of said competing brands using said determined audience score and said determined engagement score, said eighth computer program code for determining social media strength of said brand in comparison with said competing brands in said virtual social media environment by assigning a rank to said brand and said each of said competing brands by said brand monitoring platform based on said aggregate score.