#RNWebinars @LoveStats How to Create a Proprietary Measure Using Social Media Data Annie Pettit VP Research Standards, Research Now Chief Research Officer, Conversition [email protected]Social media research by researchers, for researchers #RNWebinars @LoveStats
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How to Create a Proprietary Measure Using Social Media Data
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#RNWebinars @LoveStats
How to Create a Proprietary Measure Using Social Media Data
Annie Pettit VP Research Standards, Research Now Chief Research Officer, Conversition [email protected] Social media research by researchers, for researchers
#RNWebinars @LoveStats
#RNWebinars @LoveStats
• A single number per brand
• Compare one brand to other brands
• Unique to your company
• Gives clients a reason to keep coming back to you
What is a proprietary measure?
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American Customer Satisfaction Index
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Net Promoter Score
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NPS Method
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Social Media Mentions (Sample Sizes)
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0
10000
20000
30000
40000
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Dollarama Future Shop JCPenney Meijer Macy's
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Social Media Sentiment (Box Scores)
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25%
45%
65%
85%
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Dollarama Future Shop JCPenney Meijer Macy's
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Key Characteristics
Walmart
Future Shop McDonalds
Sephora
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Need a better way to compare how ______ are delivering on _____.
• Variables must have sufficient data • Can’t build a model based on one person
• Variables must be relevant to all retailers • Grocery stores don’t have change rooms • Clothing stores don’t have to worry about employees washing their hands
• Variables must… vary! • If a category is too Nght, it is possible for all the brands to have the same score
• E.g., all 24 hour shops have great hours
Outline the Model
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• Statistical theory • Regression analysis, factor analysis, etc, suggest 6 specific variables and their weights
• Brain theory • Your category experience indicates 7 specific variables and their weights