SDL Proprietary and Confidential SDL Proprietary and Confidential Social Media Monitoring is Dead Moving forward with Social Intelligence Warren Sukernek, VP Social Business bit.ly/ws-smw
Social Media Monitoring is Dead
Oct 19, 2014
We've been using social media monitoring tools for several years to listen to what customers are saying about our brands. However, with the explosion of big data, these tools are no longer effective. This presentation describes a better approach to social intelligence which provides actionable insights.
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SDL Proprietary and Confidential SDL Proprietary and Confidential
Social Media Monitoring is Dead
Moving forward with Social Intelligence
Warren Sukernek, VP Social Business
bit.ly/ws-smw
http://bit.ly/ws-smw
A valuable customer is one
that is committed to buying
products or services, sharing
content and advocating brand
Social Intelligence gives you a contextual view into your customers’ experience.
Social media
monitoring only
goes so far.
A little bit about me.
4
SDL: Global Customer Experience
4
Publicly traded company, long-term
stability and $430M annual revenues
2,700+ employees, 70 offices, 38 countries
1,500+ enterprise customers and partners
Innovative technology and services for
enriching global customer experiences
Award-winning technology and services
Serving 72 of the top 100 global brands (Source: Interbrand 2012)
bit.ly/ws-smw
72 of the Top 100 Global Brands
*Source: Interbrand, 2011
5
Value of Listening
the complaint
the compliment
the problem
the competitor
the crowd
the influencer
the crisis
the question
the campaign
impact
the point of need
Details can be found: •http://www.radian6.com/blog/80/top-10-reasons-brands-should-listen-to-social-media/ •http://www.radian6.com/blog/87/another-5-reasons-brands-should-listen-to-social-media/
• 2006 – Nielsen & Cymfony
• 2009 – Nielsen & Cymfony
• 2010 – Nielsen, Converseon & Radian6
• 2012 – Visible & Radian6
Forrester Wave Market Leaders
bit.ly/ws-smw
An industry being disrupted.
Source: http://socialmediaanalysis.com/acquisitions.html
Consolidation and competition will revolutionize the landscape
The social listening category will die. For too long, listening vendors focused on tracking and reporting what happened in social channels, an approach that offered marketers limited insights and a flawed, incomplete view into social measurement. Today, many listening vendors keep social data in a silo, intent on building their own database and marketing technologies. But listening platforms will be unable to replicate the functionality of established marketing technology categories, such as marketing automation, email marketing, and big CRM companies, and so are likely to fail. The future for listening platforms is grim, unless they can improve their ability to turn data into insights and those insights into action through integration with broader marketing technologies.
The Four Social Marketing Tools You Need, Forrester - Nate Elliott and Zach Hofer-Shall, February 25, 2013
This “value chain” is boiling down to 4
distinct social marketing tools* that
matter in this ecosystem
Social Listening
Uncover consumer
insights
- Aggregate content - Provide analytics
*Forrester, Feb 2013
Social Depth
Provide depth for product
exploration
- Build social content into sites
Social Reach
Find new audiences
- Create & spread new content to increase product discoverability
Social Relationship
Increase engagement w/ customers
- Publishing engaging content - Responding to user feedback
Marketing
Analytics Ascendancy Model
Difficulty
Va
lu
e Descriptive Analytics
Diagnostic Analytics
Prescriptive Analytics
Predictive Analytics
Source: Gartner bit.ly/ws-smw
53% of people on Twitter recommend products in their Tweets
Every second 2 new members join LinkedIn.
In 2013, every 10 minutes we produce the same amount of data from the beginning of
mankind to 2003.
People upload 100 hours of new video to YouTube every minute
90% of the world's information was generated in the past two years in a form that computers can't understand ( unstructured data).
Data, data everywhere
Too much data, not enough insight
Data Obesity
CC: Tim Zim
Insight Scarcity
CC: Jah
Social Media Monitoring is dying because:
• There is an abundance of data
• Commoditization
• Shelfware
• Overlap of applications
• Lack of integration
bit.ly/ws-smw
An innovative approach
CC: Jordigraells
Expanded insight from voluminous data
CC: Olilly
Actionable strategies
CC: Victor1558
CC: (Alex)
Real measurements that mean something
Modeling the unstructured conversations to provide a deep and holistic understanding of that experience
CC: OrangeAcid
Integration with other data sources
CC: Kicki
The case for social data strengthens when presented with a compelling definition.
• Let’s define ‘Social data’ as:
“any user or participant-generated content published on the web. It is typified by the voluntary engagement between consumers, or with brands they engage with through activity in blogs, forums, video and photo-sharing sites, social-networking and microsites.
SOCIAL INTELLIGENCE POWERS THE ENTERPRISE
Social Intelligence gives businesses the
tools to leverage the wealth of social
data available and create true business
value.
Using data-driven social intelligence
insights enables businesses to create
risk management plans, leverage
proven industry best-practices, better
understand the competitive landscape,
and execute smart product
development and campaigns.
SDL Social Intelligence
Best Practices
Crises, Issues & Risk
Mgt
Product, Campaign &
Brand Measurement
Competitive Intelligence &
Market Validation
360-degree Customer Insights
Segment & Persona
Development
bit.ly/ws-smw
THE VALUE SOCIAL DATA BRINGS
Analyzing and deriving insights
based on social data gives
businesses a real-time, non-biased
view of the customer and their
experiences.
This means businesses can easily
shorten the purchase cycle and
ensure constant relevance for
products and services as markets
and customer needs change.
*source: Gartner
By 2015, the 20% of enterprises that employ social media beyond marketing will lead their industries in revenue growth. *
The SDL Customer Commitment
Framework helps businesses
understand what customers care
about, the reasons behind their
actions, their attitudes and triggers
for their behaviors, and translate
these experiences into strategic
opportunities.
RAISING AWARENESS, CONVERTING SHOPPERS INTO
CUSTOMERS, AND CUSTOMERS INTO ADVOCATES
80% of businesses believe their customer experience is superior, while only 8% of customers agreed**
**source: Bain & Co survey
CUSTOMER COMMITMENT FRAMEWORK IN ACTION
• KPIs - in the form of scores that model and predict customer behavior
• Customer Experience & Journey Mapping - aligning the KPIs against specific, measurable steps in the customer journeys
• Contextual Customer Segmentations - highlighting the valuable customer targets groupings for optimal focus
• Customer Personas Mapping - providing a comprehensive and deeper level of under-standing of the behaviors and emotional drivers for the identified contextual customer segments
-30
0
30
-30 0 30
Ch
ange
sin
ce p
revi
ou
s Q
uar
ter
Delta – vertical average
Product C
Product B
Product A
Product D
Improving and Above Technology Average Improving but Below Technology Average
Declining but Above Technology Average Declining and Below Technology Average
Size of ball = volume
Sample Dashboard Analytics
Quarterly Trends Q1 2013
Q4 ‘12 Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13
Score 42 66
Change +14
Predicted trend
Increasing likelihood to buy
Monthly Trends – March 2013
Score 70
Change v’s previous + 30
V’s Tech Vertical +28%
Product A
Product B Quarterly Trends Q1 2013
Q4 ‘12 Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13
Score 49 41
Change -8
Decreasing likelihood to buy
Monthly Trends – March 2013
Score 49
Change v’s previous + 8
V’s Tech Vertical -1%
Month on Month Trend
Month on Month Trend
The Customer Experience Journey
Measure & Optimize
ABOUT SDL SOCIAL INTELLIGENCE
SDL Social Intelligence provides enterprise customers with real-time insight and foresight to optimize customer experience. The Customer Commitment FrameworkTM enables global brands to develop and measure product, brand and engagement strategies to drive growth and increase revenues. www.sdl.com/si About SDL SDL enables global businesses to enrich their customers’ experience through the entire customer journey. SDL’s technology and services help brands to predict what their customers want and engage with them across multiple languages, cultures, channels and devices. SDL has over 1,500 enterprise customers, 400 partners and a global infrastructure of 70 offices in 38 countries. 42 out of the top 50 brands work with SDL.
Warren Sukernek
SDL.com/si
@Warrenss
Slideshare.net/SDLsocialintelligence
Social Media Monitoring RIP
CC: Great Beyond
Thank You
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