How Retail Brands Can Harness the Power of Social Intelligence

1. HOWRETAILBRANDSCANHARNESSTHEPOWEROFSOCIALINTELLIGENCE VIJAY RENGANATHAN SOCIAL SUCCESS EXPERT, SYNTHESIO

2. JEFF BEZOS VS. THE LITERARY INDUSTRYA TALE OF REPUTATION MISMANAGEMENT SOURCE: THE BOSTON GLOBE

3. SOCIAL DATA IS EVERYWHERE TWEETSPERDAYGLOBALLY, PLUS4.5B FACEBOOKLIKESAND55M NEWINSTAGRAM PHOTOS. OFCONSUMERSAREMORELIKELYTOBUYAPRODUCTFROMACOMPANYTHATTHEYCANCONTACTVIASOCIALMEDIA. OFCONSUMERSWHOACTIVELYUSESOCIALMEDIATOINTERACTWITHBUSINESSESFEELASTRONGERCONNECTIONTOTHOSEBUSINESSES. OFCONSUMERSSAYTHATTHEIRDECISIONTOBUYAPRODUCTWASINFLUENCEDBYSOMETHINGTHEYREADINABLOG. OFALLINTERNETUSERSARENOWACTIVEONSOCIALMEDIA. OFMARKETERSUSESOCIALMEDIAFORBUSINESS. 500M 50% 56% 31% 72% 93%

4. SOCIAL DATA IS EVERYWHERE BUT ITS NOT ALWAYSA JOKE

5. THE CONSUMER HAS CHANGED CONSUMERS: HAVEACCESSTOINFORMATION HAVEAVOICEUNLIKEANYBEFORE DEMANDAUTHENTICITYANDQUALITY EXPECTUSTOKNOWTHEM(THEIRPROFILE) KEEPWHOTHEYARE(ASAPERSON) PRIVATEANDSECURE AND THEYRE NOT AFRAID TO: ARESAVVYABOUTRESEARCH SPEAKLOUDLYANDPUBLICLY TELLUSWHENTHEYDON'TGETIT EXPECTPERSONALIZEDTREATMENT REMINDUSFREQUENTLY(ESPECIALLYWHENWEFAIL) SOCIAL MEDIA = LARGE, ORGANIC, UNBIASED FOCUS GROUP

6. SOCIAL MEDIA IS CHANGING THE GAME FOR RETAIL CONSUMERSAREBECOMINGMOREDEMANDINGANDLESSWILLINGTOTOLERATEPOORSERVICE. THEYWANTASEAMLESSSHOPPINGEXPERIENCEANDTHEYWANTTOBEABLETOINTERACTWITHBRANDSONLINE. SOCIALMEDIAHASGIVENCONSUMERSAPUBLICPLATFORMTOSHARETHEIRVOICEWITHTHEWORLD, ANDALLTOOOFTENINANEGATIVETONE.

7. UNDERSTAND THE RETAIL SOCIAL LANDSCAPE LISTENINGTOSOCIALMEDIAHELPSYOUHOMEINONWHEREYOURCOMMUNITIESARE: DOYOURCUSTOMERSANDPROSPECTSENGAGEONTWITTER, BLOGS, FORUMS, MAINSTREAMNEWSSITES, ORALLOFTHEABOVE? WHICHKEYWORDSDOTHEYUSEMOSTOFTEN? MAYBETHEYAREDISCUSSINGCOUPONS, MALLS, STORES, RETAIL ORSHOPPING.

8. CASE STUDY ONEOFTHEWORLDSLEADINGLUXURYWATCHMANUFACTURERSUSEDTHESYNTHESIODASHBOARDTODISCOVERTHATTHEBULKOFCONVERSATIONSABOUTEXPENSIVEWATCHESWASTAKINGPLACENOTONFASHIONORLUXURYGOODSSITES, BUTONAUTOMOTIVEFORUMS PARTICULARLYTHOSERELATINGTOFORMULA1 RACING. THELUXURYWATCHBRANDUSEDTHISINSIGHTTOCONNECTWITHTHEIRCUSTOMERSBYSHARINGAPASSIONFORFASTCARSTHROUGHSPONSORINGFORMULA1 EVENTS. LUXURYWATCHMAKERFINDSOUTWHOSTALKINGABOUTEXPENSIVEWATCHES

9. REACH YOUR CONSUMER BASE YOUR CONSUMER BASE FIND OUT WHO YOUR TARGET CONSUMER IS DISCOVERWHOISBUYINGYOURPRODUCTS. BUILDPROFILESFOREACHTARGETNICHE& STREAMLINEFUTURESALESEFFORTS. FISH WHERE THE FISH ARE USESOCIALINTELLIGENCETOFINDONLINECOMMUNITIESWHEREYOURTARGETCONSUMERSSPENDTIME. DONTFORGETGEOGRAPHICLOCATIONFOCUSMESSAGING& ENGAGEMENTACCOUNTINGFORREGIONALCONSIDERATIONSTHATMAYAFFECTRECEPTIONOFYOURMESSAGING. DISCOVER WHAT THEYRE SAYING ABOUT YOU WHICHTERMSAREBEINGUSEDINDISCUSSIONSABOUTYOURBRAND? CONSUMERSLIKELYUSECERTAINKEYWORDSINRELATIONTOYOURPRODUCT, BRAND, ORINDUSTRY(E.G., PRICINGORSERVICE). USETHESETOINFORMSALESSTRATEGIES. 1 2 3

10. CASE STUDY SYNTHESIOWORKEDWITHALEADINGSKINCAREMANUFACTURERTOPROVIDEONGOINGMONITORINGOFMENTIONSRELATINGTOTHEIR NEWFOUNDATION. THROUGHSOCIALLISTENINGTHEYDISCOVEREDTHATCONSUMERSLOVEDTHEPRODUCTBUTSAIDITMADETHEIRFACESALITTLETOOSHINY. THEBRANDTOOKACTIONWITHANEARLYLAUNCHOFANEWPRODUCTINTHEPIPELINE-ANOIL-FREEVERSIONOFTHECREAM. SKINCAREMANUFACTURERUNCOVERSCRUCIALPRODUCTINSIGHT

11. PROVIDE REAL-TIME CUSTOMER SERVICE RETAILSHOPPERSEXPECTEXCEPTIONALCUSTOMERSERVICEOFFLINEANDONLINE ANDIFTHEYDONTGETIT, THEYWILLTWEETABOUTIT. BYLISTENINGFORTHESECONVERSATIONSANDHELPINGINREAL-TIME, YOUCANTURNANEGATIVESITUATIONINTOAWINNINGCUSTOMEREXPERIENCE, ANDDEVELOPSTRONG, LIFELONGRELATIONSHIPSWITHYOURCONSUMERS. SOMEMAYEVENBECOMEADVOCATESFORYOURRETAILBRANDTHROUGHOUTTHESOCIALSPACEANDBEYOND.

12. KOHLSISONEOFTHEMOSTPROACTIVERETAILBRANDSONSOCIALMEDIA, REACHINGOUTTOCUSTOMERSVIAFACEBOOK, TWITTERANDINCORPORATINGSOCIALMEDIAINTOPRODUCTREVIEWSANDSHOPPINGASSISTANCEONTHEKOHLSWEBSITEFOREASYSHARING. THEWALMARTTWITTERTEAMHASALSOSETAHIGHSTANDARDONSOCIALMEDIATHANKINGCONSUMERS, INQUIRINGABOUTCUSTOMERISSUESWITHCARE, ANDREQUESTINGFURTHERFEEDBACK. CASE STUDY RETAILGIANTSSETTHEBARFOREXCELLENCEONSOCIALMEDIA

13. INFLUENCER MARKETING BYUSINGANINFLUENCERRANKINGSERVICE, YOUCANDRILLDOWNINTOYOURDATAANDDISCOVERTHEMOSTINFLUENTIALSOCIALMEDIAUSERSAROUNDYOURINDUSTRYORBRAND. 1 CONSUMERSTENDTOTRUSTTHEOPINIONSOFPEOPLETHEYKNOWOVERTRADITIONALBRANDMARKETINGANDADVERTISING, MAKINGWORDOFMOUTHONEOFTHEMOSTPOWERFULTECHNIQUESINTHEBUSINESS. 2 IDENTIFYINFLUENTIAL: BLOGGERS FACEBOOKUSERS TWITTERUSERS JOURNALISTS FORUMMEMBERS 3 ITSIMPORTANTTOUNDERSTANDWHICHCOMMUNITIESOFINTERESTAREDISCUSSINGYOURBRAND. COMMUNITIESANALYSISISANIMPORTANTMETHODOFUNDERSTANDINGIFYOURBRANDORPRODUCTSFEATURESAREBEINGDISCUSSEDBYTHERIGHTAUDIENCE. 4

14. REAP THE REWARDS THEABILITYTOACCURATELYIDENTIFYTHEINFLUENCEOFABRANDMENTION, WEBSITE, ORINDIVIDUALCANPROVIDEAVARIETYOFBENEFITS, INCLUDING: FILTERINGTHROUGHTHOUSANDSOFMENTIONSTOFINDTHATNEEDLEINTHEHAYSTACK. IDENTIFYINGKEYCOMMUNITIESOFADVOCATES(ORDETRACTORS) INORDERTOMOREACCURATELYTARGETYOURADVERTISINGANDCOMMUNICATIONS. STREAMLININGCUSTOMERSERVICEEFFORTSBYPRIORITIZINGYOURRESOURCESANDRESPONSESTOULTIMATELYIMPROVEBRANDREPUTATION, CUSTOMERSATISFACTION, ANDSALES.

15. TRACK YOUR BRANDS REPUTATION 3 QUICK TIPS FORONLINECRISISMONITORING DATA SPIKES LARGE CONVERSATIONS WITH MANY COMMENTS REAL-TIME ALERTS ON SENSITIVE TOPICS 1 2 3

16. DONT FORGET: ENABLE YOUR STAFF

17. HOW DO I MEASURE ROI? WHO: IDENTIFYANDMONITORINFLUENCERS-BOTHADVOCATESANDDETRACTORS WHAT: ARECERTAINIDEASGETTINGTRACTIONORSHAREOFVOICE? WHEN: DOSOCIALSPIKESCORRESPONDTOCAMPAIGNSORCRISES? WHERE: ARETHERESITES/PLATFORMSWHEREYOURAUDIENCELIKESTOCOMMENT? WHY: WHATMOTIVATESPEOPLETOEXPRESSOPINIONSONLINE?

18. NO. 1 GLOBAL LISTENING VENDOR ENTERPRISELISTENINGPLATFORMS, 2014 Synthesio is a leader in this study due to its superior global data coverage, automated analysis built from human coding, and functional dashboard. Well-satisfied customer references score the vendor highly for its flexibility and the frequency with which it recommends new approaches.

19. @SYNTHESIO SYNTHESIO.COM CONTACT US CLIENT STORIES OUR BLOG OUR RESEARCH

How Retail Brands Can Harness the Power of Social Intelligence

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