MutualMind was an enterprise listening platform with engagement and publishing features and analytics, that is now discontinued after the company's acquisition in 2016.
Anyone that has a business with a high NPS score should take advantage of this acquisition channel. If your business isn't promotional in nature (i.e., doesn't offer discounts), this type of program may not be as effective. It is important for both the advocate and the recipient to get something out of it. If only the advocate gets rewarded, it will likely diminish your returns.
MutualMind gives us a view into the reach of social content we produce on behalf of our advertisers and the engagement that content generates with shoppers.
Lacks geo filtering capabilities (i..e, ability to serve refer a friend only to visitors from specific countries). Our team had to put that logic in place on our side instead of relying on Extole.
Platform requires assistance from account manager for some actions/features that should be in the hand of the client.
Quality Control has been an issue at time. Our program has gone down because a new global platform update went out and affected our implementation. Extole has been responsive in these types of incidents, but that should not happen.
MutualMind gauges sentiment around social conversations but does so with the standard margin of error found in most social analytics products. The nature of human conversation makes it difficult for a machine to categorize sentiment with 100% accuracy. MutualMind gets sentiment right between 50% to 70% which is within acceptable industry averages for this type of product. With additional tuning (which MutualMind provides) the accuracy levels will increase.
As a company that's only 3 years old, MutualMind's toolset is quite usable but it could use some tweaks in the user interface, which they are constantly working on.
During a recent upgrade period, MutualMind had a small window of unavailability. I am confident they have addressed the root cause and do not foresee any future issues.
The product's performance has improved greatly in the last year and we anticipate seeing additional improvements in coming months based no planned infrastructure changes.
It took a few months to become ROI positive with Extole, but the ROAS has been good since. It probably represents about 2% of our new customers per month.
By showing increases in engagement and share of voice (defined as the amount of content generated for our advertisers versus the amount of content generated for their competitors over time) we are able to correlate content to incremental sales data provided by our advertisers.
