Insights and opportunities in social media

Class 4

Questions from Last Week and/or Reading?

Listening in the social graph:Thomas Malkin, GeeYee

Assignment 1 Review

( + )• Good breadth of topics and mediums• Showed a good grasp of the space• All were interesting and helped me

learn a few things, too• Analyses were thoughtful and I

appreciated your takes on what could have been done differently

( - )• Details were lacking a bit• Problem + Solution = METRICS!

Picking up where we left off

Social Dilemmas

Cases where the best solution for an individual is counter and detrimental to the best overall solution to a group.

Prisoner’s Dilemma

Iterated Prisoner’s Dilemma

Tit for Tat

1. Always Cooperate on the First Go

2. Follow What Your Partner Did in the Last Round

Ecosystems

Competitors = HAWKS

Cooperators = DOVES

Implications using social dilemmas

2. Cooperation works longer in the long-term

3. No need to be a doormat.

1. Look long-term.

Questions?

Social Media Monitoring

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

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

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

There is little – if any – sacrifice in research validity and application

Marries qualitative and quantitative data for robustness, generalizability, and depth of information.

Can allow for demographic segmentation - - to a degree.

Ongoing monitoring allows for trending information, campaign correlation, and brand tracking.

Inclusion of competitive monitoring creates context for brand measures and conversations.

Ongoing monitoring allows for rapid adjustment to marketing strategies

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

The process

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• 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 insights PR management

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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: Some Exercises