To gain a competitive edge Retailers must listen to - and analyze - what consumers are saying about them, their products, and their industry.
Transcript of 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
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