We often get questioned about how we look at social data from a decentralized brand. What this means is, what happens when you have Facebook and/or Twitter accounts for each store location in a multi-unit brand? In 2010, when the RSMI first began, we looked only at the main brand for measurement. With the introduction of our VenueTrak platform in 2011, which looks at every location based on geo-data, all that changed.
Now, we look at social data surrounding more than 210,000 locations in the U.S. alone. As the data from VenueTrak, as well as the more than 125,000 restaurant industry terms we seek out, has expanded, the RSMI is recording - what we think to be - the best matrix of business intelligence on the local-level that’s available to the restaurant and hospitality business.
With consumers declining in location-level check-ins this year by over 20%, but rising in location mentions by over 60%, the new normal of how consumers reference a location is in a major shift of digital habits. These digital habits sometimes occur due to the mass adoption of new platforms like Vine and the introduction of new features on Instagram. Add the growth of the majors in - Twitter and Facebook - and you can quickly see how the fragmentation of location-based data is occurring. This alone is the power of where the VenueTrak model is becoming the de facto standard in the industry for local-level data, targeting and ROI tracking.
As social continues to move in both innovation and mass, the potential to garner massive impact at the local-level has become a reality. Add this with the adoption of the geo-coded smartphones and you have the perfect equation for a new era in local-level social media.