Lecture january 26 2011

Insights and opportunities in social media

January 26, 2011

Questions from Last Week?

Reading

Listening vs. Market Research

Representativeness in Listening

Two Ways to ListenPros and Cons

Information vs. Insight

What do you get from listening?

Your listening plan

Social Media Monitoring

The value of social monitoring is its ability to collect and aggregate naturally occurring consumer sentiment towards a brand in real time

• Captures the authentic voice of the customer

• Reveals what you don’t know – but should

• Provides timely insights into the wants needs and motivations of the audience

• Delivers results at the speed of the market

• Offers both qualitative & quantitative potential

• Less expensive than traditional methods

• Can complement focus groups and surveys

Characteristics of Social Media Research

• Observational – Participants are unaware of research presence

• Direct consumer language– Consumers use their own slang and descriptive, colorful language

• Unfiltered and Un-moderated– No survey moderator interrupts the conversation– Real emotions, content posted without a lot of restraints

• Real-time– Commentary occurs as soon as an event unfolds– Data accessible on short notice

Comparing Social Media research with traditional approaches

Qualitative Quantitative Ethnographic

Similarities Rich discussion of brand/category

Thousands of respondents

Observational

Social Media Advantages

Analyzes the authentic language of the audience

Data provided in an unfiltered, unaided environment

Continuous data source

Less costly

Captures why people feel the way they do

Reach the young and tech-savvy who are difficult to contact

Continuous data source

Less costly

Captures data from thousands of observations

Capture unfiltered, unaided opinions

Continuous data source

Less costly

Where Social Media Fits

Strategic Planning• Category dynamics• Questions you didn’t know you should ask

Positioning• Key consumer motivations• Role of brand/product in their life

Product Launch• Real-time reaction to product, marketing• Identify barriers, resonance of messaging

Who Uses Social Media Insights

Source: Aberdeen Group, January 2008

9%

25%

26%

31%

32%

47%

51%

51%

55%

0% 10% 20% 30% 40% 50% 60%

New group designed for this purpose

Customer Service

Interactive Research

Cross-functional Group

Product Development

Market Research

Public Relations

Interactive Marketing

Product Marketing

• We create relevant topics.• The tool then crawls the internet (blogs, forums, social networks,

discussion boards, product review sites, etc.) locating postings based upon the topics.

• The noise is then filtered, volume/influence measured and sentiment determined.

• We then layer this information into other data (e.g., search, segmentation analysis, etc.) to gain insights and optimize.

• Recommendations are made as to where and whom to engage in dialogue.

How it works

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What is the summary?

What is the summary?

What have I been doing?What have I been doing?

What’s still open/left to do?

What’s still open/left to do?

Have I been successful?

Have I been successful?

How efficient am I?How efficient am I?

Measuring Impact (when we monitor)

A distinction

LISTENING TO CONVERSATIONS CREATING COMMUNITIESPassive observation Active involvement

Includes all people speaking about the brand/category

Includes advocates

Unsolicited Solicited/Guided

Self-selected Recruited

Can be tapped into at any time Can be tapped into at any time

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Another distinction

MONITORING MODERATINGResearch to uncover insights Oversight to maintain conversation integrity

Across the social graph Branded social spaces

Passive listening Active responses (when appropriate)

Ongoing Ongoing

Marketing lead PR lead

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Getting started in monitoring

1. Determine your goals: There may be many and they may seem disparate, but could be covered with a single solution.

2. Determine the process that best suits your organization.

3. Review 3-4 top leaders. There are tons of tools, so narrow it down.a. They all collect.b. They all rate and sort.c. Some do cool things around rating and sorting.d. All should have reporting.e. None of them (really) do insights and actions

4. Do a trial.

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Advocates and influencers

Antagonists Apathetics Advocates

Pop

Size

The Advocacy Bell Curve

• Popularity

• Activity

• Connectivity

• Engagement

• Pervasiveness

• Drivers

• Credibility23

Scenario 1

Your company is launching a new product that is out of the norm for what they usually do (e.g. Gatorade is starting to sell shoes) and you need to generate credibility.

Scenario 2

Your company is launching a new product that is close to what they already do (e.g. Cadbury has come out with a new candy bar) and you need to generate excitement.

Scenario 3

The spokesperson for your company’s recent (and successful) ad campaign was just arrested for drug possession. Your company sells children’s educational videos.

Scenario 4

You’ve just opened up a new restaurant and you need to get the word and excitement out about it.

Scenario 5

People in your loyalty program are either inactive or, worse, are even starting to opt out. You need to refresh and rejuvenate your list.