Social Data is Sexy Again- From Hype to Productivity
Post on 12-Jul-2015
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Social Media Data is Sexy Again: Journey from the Trough of Disillusionment to Era of ProductivityMia Dand
CEO, Lighthouse3
Mia Dand@MiaD #DataSym
Top Rank's list of "25 Women That Rocked Social Media in 2013
What we do. Lighthouse3 is a strategy consulting agency based in San Francisco Bay area. We help global brands maximize the ROI on their digital and social media investments by organizing and optimizing their internal operations.Our clients include Fortune 1000 companies and pre-IPO startups.
Customers Brand. Social Media Revenue
Increase ROI + Business Growth
Organize People + ResourcesOptimize Programs + Processes + Technology
What does a highly organized & optimized team look like?
Social Data Success = Shorten the Path from Discovery to Purchase.
Why are we here?
Perfect Data Tsunami!
Every day, we create 2.5 quintillion bytes of data. 1,000,000,000,000,000,00090% of the data in the world today has been created in the last two years alone. This data comes from everywhere: sensors used to gather climate information, posts to social media sites, digital pictures and videos, purchase transaction records, and cell phone GPS signals to name a few.
This is big data. ~IBM
~ Domo.com
Your Brand
Changing Social Media Landscape
The Shift
Explosion of Social Technologies
Gartner Technology Hype Cycle
Modified - Gartner Technology Hype Cycle
Gartner’s Hype Cycle http://algoso.org/2014/01/02/hype-cycle-for-development-ideas-2014-edition/
Hype Cycle – New Emerging Technologies
Content Analytics
Big Data
Hype Cycle – Digital Marketing Technologies
Web AnalyticsData Management Social AnalyticsPersonalization
Changing User Behavior
APAC data – Jan 2014, We Are Social
Meet your average user in 2014
http://www.statisticbrain.com/attention-span-statistics/
Attention span in 2000 – 12 seconds
Attention span in 2013 – 8 seconds
http://www.statisticbrain.com/attention-span-statistics/
http://www.statisticbrain.com/attention-span-statistics/
Attention span in 2013 – 9 seconds
Internal state of your organization
#1 Social data exists in silos
Multiple departments own social media.
Altimeter Group
Product defect = Unhappy Customer = Support issue =
Marketing Problem
#2 Lack of right technology to analyze the data
Best social technology?
For companies..
What is the business need?
How many users?
How many customers?
Which languages?
Which channels?
What data sources?
What technical resources?
Integration with internal systems?
Budget?
Build vs. Buy
Expertise!
- Big picture lead - holistic vision
- Optimization lead - testing
- Business Analyst - who understands the data & repot
- Data scientist - models & framework
#3 Data is not actionable
49% of CMOs say they aren’t able to quantify whether social media has made a difference for their companies.
Aug 2013 CMO survey http://www.cmosurvey.org
Big data without the right strategy and technology to analyze it, is
just big noise.
What is strategy?
Use of data to create unique competitive advantage.
Social Data Strategy?
Altimeter Group
Social Data Maturity Map
#1 Build your strategy
#2 Find the right technology
#3 Get buy in & support - $$$
Where do we start?
Expand into new markets
Attract new user segment
Grow customer loyalty
Launch a new product
Increase salesGrow awareness
Change sentiment
Uncover product issues
Increase revenues
What business problem are we solving for?
Set up for success
Analyze Act
Insights Report
Data source
#1Data
Source #2
Data Source
#3
Programs Processes
People
Organize Optimize
Business Outcome
Organize: Social data sources
Comments
Posts
TweetsLikes
SharesReTweets
FollowersPhotos Videos
What data do we already have?What do we need to gather?
How will we use it?
How will we secure it?
What people/resources do we have?
What processes will we leverage?
Which technology do we need?
Organize: Data governance & resources
Organize: Other data sources
Organize: Aggregate data sources
Build/Use Own Database Social Technology Database
Social (CRM)
CRM
Paid
Analytics
Sprout SocialSprinklrHootsuite
Organize: Social Data Hub
Content
Social
Paid
CRM
Analytics
KapostPercolate
Organize: Content-centric Data Hub
CRM
Social
Analytics
PaidDemand
- Gen
Organize: CRM-centric Data Hub
SalesforceOracleIBMAdobe
Analyze
Social Data Gathering & Trend Analysis
Social Activity Data Management & Measurement
Social Content Marketing Management & Measurement
Deep Analytics & Data Mining - Segmentation
Text Analytics/NLP - Purchase intent, Loyalty, Sentiment
Multi/Omni-Channel
- Attribution, Tag Management
- Personalization, marketing
Analyze: Insights
Analyze: Holy Grail
Attribution
Contribution
Prediction
- Social + Digital- Multi/Omni-channel
- Share of revenue by channel- Customer profiling, segments
- Media mix model- Behavioral analytics
Analyze: Reporting
Analyze: Integration with data warehouses
Data gathering and analysis is NOT the end goal.
Achieving desired business outcome is the end goal.
Do something!
Increase Effectiveness, Reduce Costs
Cross-channel messaging
Personalized offers
Custom experiences
Relevant content type
Optimize media mix
Channel strategy
Products placements
Higher conversion rates
Lower acquisition costs
Increase content effectiveness
Generate more demand
Acquire more customers
Retain existing customers
Grow revenue streams
If you’re not testing & measuring effectiveness of every activity and piece of content you put online, you are doing it wrong!
www.keepcalm-o-matic.co.uk
Getting buy in & $$
Clear objective
Convert the social jargon into business KPIs
Tie it back to your top-level marketing/business strategy
Collaborate across the silos – get data from other sources
Get cross-functional champions for your vision – CFO, CIO, CTO
Getting Organizational Support & $$$
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