CLEVELAND: Dix & Eaton has unveiled a social media monitoring and analytics offering for investor relations professionals.
With the IR Web Intelligence service, Dix & Eaton will monitor conversations among the investment community on social media networks, including Twitter, Facebook, YouTube, and blogs. Using third-party software, the firm will collect conversations and provide insight into their tone and potential influence on trading volume, market valuation, and corporate reputation.
“[The IR Web Intelligence system] is a way for in-house IR executives to have more confidence that there aren't issues starting to bubble below the surface,” said Rob Berick, senior MD at Dix & Eaton. “We can put comments into context, so that they don't have to guess if it's a gadfly or the start of something bigger.”
The system, which rolled out September 14, will monitor either ongoing conversations or those occurring around a specific event, based on designated search terms such as the company's name, ticker symbol, or keywords about mergers and acquisitions, shareholder activism, and reputation issues. Dix & Eaton will then compile reports periodically showing popular topics, locations where conversations are happening, and market commentary.
The agency developed the service because of a growing need for social media awareness among IR executives, Berick said. Many clients had expressed concern over Internet rumors or leaks on mergers and acquisitions, he added.
“This addresses a need we see for public companies to have a finely-tuned listening mechanism,” Berick said.