Imagine the time spent preparing an excellent media release, about your brand or company. Or maybe planning for a campaign or launch of an event, but nothing positive is coming up. The truth is that in these modern times, there is a difference between knowing your target audience and reaching your target audience. But how do you measure the success of your efforts, the cost and that’s where Meltwater comes in?
Being a global pioneer in online media monitoring and media intelligence that tracks brand mentions, examines market opinion, and helps you understand your audience. Meltwater, the industry giant has been the golden ticket for extensive all-in-one solutions for public relations, communications, and marketing professionals. For me, being able to manage social media buzz, marketing campaigns, and countless conversations with likeminds marketers is quite crucial, but also considering Meltwater’s pricing approach is likewise pertinent and that’s one question that lingers for many marketers: how much does Meltwater cost in 2024?
In this guide, I will be sharing details of how much meltwater pricing costs, highlighting the benefits, including factors affecting Meltwater pricing, their pros and cons as well as comparing other PR alternatives worth trying out in 2024.
Key Points
- Meltwater offers extensive solutions for PR, communications, and marketing professionals, aiding in brand management and audience understanding through online media monitoring and intelligence.
- Meltwater’s subscriptions offer varying tools and capabilities, catering to different needs and budgets, albeit with some transparency challenges in understanding which products/services are included in each tier.
- The value justifies the investment for businesses seeking effective media tracking and analytics solutions, with costs ranging from $6,000 to $25,000 annually, influenced by certain factors.
How Much Does Meltwater Cost?
Meltwater, a pioneer in media intelligence, provides PR, communications, and marketing professionals with the knowledge they need to stay ahead, as well as a single, integrated solution for efficiency. Meltwater’s media and social intelligence, the only all-in-one solution for public relations and social media, is used by over 27,000 firms to keep on top of billions of online discussions and extract key insights to effectively manage their brands.
Meltwater frequently comes out top when we evaluate its pricing compared to its actual value. This is a reflection of the wide range of effective features and capabilities they provide in the field of media intelligence.
At first look, Meltwater’s pricing plan may appear outrageous. Although some might argue that some small businesses won’t be able to afford Meltwater and its increasing cost in 2024, you should also consider the unmatched value it offers to make your investment worthwhile, which is essential for any company looking to expand in today’s market.
Even if it could appear exorbitant, there are a few things that go into making it truly valuable.
Factors Associated with Meltwater Pricing
Based on my personal experience, industry insights, and internet research. The approximate range of Meltwater pricing often falls between $6,000 to $25,000 annually. However, this is just the starting point. Here’s where things get interesting:
#1. Tiered System
Meltwater has a tiered pricing system that includes options such as Essentials, Advanced, Suite, and Enterprise. With each tier, users may access more tools and capabilities, such as competition tracking, advanced analytics, and media monitoring across more locations. Imagine it like ascending a mountain: the vista becomes bigger (and the price increases) the higher you go.
#2. Feature Frenzy
Some features are included free of charge with a tier, while others are offered as alluring (and pricey) add-ons. These can include personalized reporting, influencer identification, and media training. It’s similar to putting toppings on your marketing pizza; they sound good, but they drive up the price.
#3. User Factor
The pricing is also greatly affected by the quantity of users you require access to. The more people you have, the more of your marketing budget you’ll need to allocate.
#4. Location Data
Another factor to consider is the geographic reach of your media monitoring requirements. It will be more expensive to track mentions worldwide than to concentrate on a single area. Think about the contrast between trying to catch discussions across the entire city and listening to whispers in a single room!
Meltdown Pricing Structure Breakdown
During my conversation with one of the customer services, I found out that Meltwater has multiple cost categories and they don’t say much about which products in their suite are included with each tier on their website. More like keeping its prices hidden from the general population. Upon research, it seems that the “Essentials” and “Advanced” categories are restricted to media monitoring, based on our understanding.
Understanding the cost of meltwater requires taking into account a variety of elements that influence its pricing structure.
Your final choice in which tier you select will depend on your budget, how patient you are with their sales process, and which of their tools you believe you need.
Listed below is a brief description of each of Meltwater’s pricing tiers:
- Essentials: This is the base package. It’s ideal for getting started with general brand and market monitoring. It also comes with training materials to help you get started.
- Advanced: This is a direct step up from the Essentials category. It provides more advanced analysis tools and limitless search capabilities. It’s ideal for firms that require precise media monitoring reports.
- Suite: This tier is for teams that want access to all of Meltwater’s tools. Integrated tools across many products. It provides advanced analytics and a more consistent approach to handling insights.
- Enterprise: Meltwater’s premium option includes everything they offer. This includes everything from powerful AI features to specialized services to assist you with strategic PR decisions.
Pros of Using Meltwater
Being in the public eye, addressing favorable news coverage, unfavorable client comments, and new market developments. Meltwater is selected due to its ability to deliver the best services expediently.
The following is a list of Meltwater’s features:
- Real-time Monitor: Meltwater monitors references across a wide range of online spaces, including blogs, social media, news sources, and more.extend_more There won’t be a moment of silence during the online chat.
- Great Customization: You can customize your Meltwater subscription to some extent. The extent of customization may vary depending on your specific subscription and requirements.
- Competitors Analysis: Meltwater takes its time to find out what your rivals are doing, including their branding and marketing tactics. Keep up your advantage throughout the game!
- Societal Listening: This gives an advantage in getting priceless insights into consumer sentiment and spotting new trends in your sector.
- Analytics and Reporting: Part of the outstanding service they offer includes transforming unprocessed data into useful insights by utilizing Meltwater’s powerful reporting features.
Challenges Faced When Using Meltwater
Meltwater is a powerful company with a huge portfolio, but it is not without flaws.
Here are some points to remember:
- Meltwater’s Services/Pricing Cost: Meltwater doesn’t have a one-size-fits-all pricing structure as a brief list of the categories is shown above, as we’ll go into more depth about it. The price can change dramatically based on what you require.
- Features Limitations: There’s a considerable possibility you’ll find out that the crucial features you need are only accessible in a higher, more expensive tier. resulting in a significant increase in cost while paying for unnecessary extra features. With this effect, not everyone will find Meltwater’s price model acceptable, despite the company offering a wide range of tools and services. particularly smaller companies whose requirements don’t simply fall into one of their levels.
- Meltwater’s Time Assessment: Like any powerful tool, especially for new users, Meltwater has a learning curve. Be prepared to invest time in understanding its functionalities to maximize your return on investment (ROI).
- Data overload: It’s simple to become overwhelmed by the abundance of data available to you. Effective information filtering and analysis are essential skills.
The Cost of Meltwater in Contrast to Alternative PR
Finally, let’s compare Meltwater’s pricing to other PR to put it in perspective.
| Aspect | Meltwater | Alternative PR |
| Pricing model | Customized pricing, starts at $1,000 per user/per month | Transparent, straightforward pricing; starts at $100 per user/month |
| Subscription | Annual Plan available/ No monthly subscription plan | A monthly subscription plan is available |
| Add-on Services | Media monitoring, analysis, and engagement comes with extra cost | Press release distribution, media database management and campaign tracking don’t necessarily come with such cost. |
| Demo | No Demo or free trial available | Free trial or demo available |
| Customer support | Standard support, additional cost for premium | High-quality support included at all levels, responsive customer service |
| Scalability | Good for large enterprises, less for SMEs | Efficient for SMEs and large enterprises alike |
| Transparency | Pricing and additional costs can sum up | Fully transparent pricing and feature access |
| Community engagement | Limited community resources | Active user community are entitled to regular updates |
How to Customize Your Meltwater Subscription
#1. Client Success Consultant
After purchasing your subscription, Meltwater assigns you a complimentary “Client Success Consultant” who can help you learn how to use Meltwater, set up searches, and build dashboards.
#2. Specialized Solutions
Meltwater offers the option to create a specialized solution for your global brand, providing you with a 360-degree view of consumer and market intelligence.
#3. Training and Development
Meltwater provides various resources for skills development, including educational guides, content from their customer community, and exclusive events for networking and learning.
#4. Customizing Content
You can modify and customize documents in the system to create your desired output. For example, you can add articles to your search folders or request the addition of specific sources to the Meltwater platform.
#5. Managing Users and Permissions
Administrators can add users, assign permissions, and edit user permissions within the Meltwater account.
#6. Connecting Owned Social Accounts
Depending on your Meltwater subscription, you can connect multiple owned social accounts to the platform. The number of connected accounts allowed can be checked in your Account Settings.
#7. Renewal Options
Meltwater offers the ability to modify or cancel an existing auto-renewal contract. Renewal options can be discussed with your Customer Success Resource to find the best purchasing options for your requirements.
#8. Customized Reporting
Meltwater can provide customized, in-depth reporting for specific events, retrospective data, or single regions. This includes options such as sentiment analysis, reach, and social echo.
Integration Capabilities of Meltwater
Meltwater, a SaaS media monitoring company, offers a range of integration capabilities to enhance its services and provide valuable insights to its customers. Here are some key integration capabilities of Meltwater:
#1. Integration of OpenAI Models and Advanced Algorithms
Meltwater has expanded its robust AI capabilities by integrating OpenAI models and advanced algorithms. This integration allows Meltwater to deliver powerful insights to its users.
#2. Integration with Salesforce
Meltwater’s social media management tool, Engage, integrates with Salesforce. This integration helps streamline efforts and deliver better social media customer support.
#3. Integration with ChatGPT
Meltwater’s AI engine integrates with OpenAI’s ChatGPT, enabling users to leverage the power of conversational AI for their media monitoring needs.
#4. Integration with Other Tools and Platforms
Meltwater offers integration capabilities with various tools and platforms to maximize efficiency and scale. Users can start simple or integrate globally with Meltwater’s adaptive products that meet them exactly where they are.
These integration capabilities enable Meltwater to provide comprehensive media monitoring, social listening, and consumer intelligence solutions to its customers. By integrating with advanced AI models, algorithms, and other tools, Meltwater empowers users to gain valuable insights and make informed decisions.
As of today, Meltwater software suite offers the following main services:
- Media Intelligence
- Media Relations
- Social listening and analytics
- SM Management
- Data and API integration
- Social Intelligence
- Influencer Marketing
- Consumer Intelligence
Tips for Getting the Most out of Meltwater
These are personal tips that have worked over the years to unlock Meltwater’s Full Potential. The key to extracting maximum value from Meltwater is to approach it with curiosity, flexibility, and a willingness to experiment.
#1. Leverage Actionable Insights
One of Meltwater’s greatest strengths is its ability to surface meaningful insights that can directly inform your decision-making. Don’t just skim the surface – take the time to analyze the data and identify the stories hiding beneath the numbers.
#2. Embrace Meltwater’s Flexibility
Life is unpredictable, and your media monitoring needs can shift quickly. That’s why Meltwater offers flexible pricing and subscription models to ensure you’re only paying for what you need when you need it.
#3. Leverage Expert Guidance
Remember, you don’t have to go it alone. Meltwater’s dedicated customer success team is always ready to lend a hand, whether you need help optimizing your setup, uncovering new use cases, or making sense of all the data.
Is Meltwater better than Cision?
According to my research, both Cision and Meltwater are industry leaders in media monitoring and PR software, but they cater to slightly different needs.
Here’s a breakdown to help you decide:
Strengths of Meltwater”
- Real-time focus: Meltwater excels at real-time media monitoring and engagement, allowing you to stay on top of mentions and respond quickly.
- Customer support: Meltwater offers 24/7 live phone support, email support, and live chat, along with a help center.
Strengths of Cision:
- Media database: Cision boasts the largest media database, exceeding 1.4 million contacts, which can be helpful for outreach.
- Market share: Cision holds the number two spot in the PR software market share, indicating widespread adoption and reliability.
Other factors to consider:
- Pricing: Both are known to be expensive, especially for smaller businesses. Consider requesting a quote or exploring free trial options.
- Ease of use: User reviews suggest Cision might have a slight edge in user-friendliness.
Consider what features are most important to you and try out trial versions if available before making a decision.
Conclusion
Meltwater is like a Sharp blade for your media monitoring and analytics needs – packed with powerful features, that provide current business insights so you may make smarter decisions. The pricing structure can be a bit confusing and transparent while having some good capabilities for media monitoring. Not only that, but their high-touch sales procedure and annual contracts make it difficult to test out the product before committing to it. While Meltwater might seem to cost more at first glance, remember that you’re not just paying for a product, but a comprehensive service that includes proactive report generation and exceptional customer support.
Therefore, if budget permits, investing in Meltwater could likely be a valuable move for your business’ media tracking and analytics needs. Can Cision offer the same value as Meltwater considering the price?
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