SoLoMo Thursday - Make social media big data relevant to you

27 Feb 2014

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SoLoMo ThursdayNatesh Raj

Business Development Consultant

Techsailor Group

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PAGE 327 Feb 2014

Objectives

PAGE 427 Feb 2014

Making Social BIG Data

Relevant for YOU!

PAGE 527 Feb 2014

Speaker: ASHOK PATRO

27 Feb 2014

SOCIAL BIG DATA ANALYTICS

27 Feb 2014

Interesting Facts

PAGE 827 Feb 2014

Social Media : Interesting Facts

It is the #1 of all online activities, surpassing email, gaming, porn

74% of consumers rely on social networks to guide purchasing decisions

About 57% of companies have acquired a customer via blog, 62% via LinkedIn, 52% via Facebook and 44% via Twitter

The average budget spent on company blog and social media has tripled in last 3 years

1 million web pages are accessed using “Login with Facebook”

27 Feb 2014

Social Media Data: How big it is?

There are over 1.15 billion Facebook users

There are now over 1 Billion Google+ enabled accounts

There are over 550 million registered Twitter users and 34% marketers are using to generate leads successfully

Pinterest has 20 million active monthly users

Instagram has 150 million monthly users

238 million+ total users

27 Feb 2014

Social Media Data: How big it is?

27 Feb 2014

Social Media Data: the Enabler

Treat Social Media as a Gold Mine

Don’t Assume what your consumer wants/needs.

Capture everything to avoid blind spots

Focus on quality and not only quantity

Work with real time data

27 Feb 2014

Market research can no longer predict what consumers will like, but SOCIAL MEDIA

DATA does!!!

EMPOWER ACTION

with Social Media Data

Consumers are in

CONTROLSocial Media Data deals with more

radical, unfamiliar changes as

compared to Traditional research.

Monitor

Listen

Gain consumer Insights

Build competitive Intelligence

Act fast

With “Social Media data” play along to

make the best of a digital world that

no one can control

Design accurate marketing campaignsStrategize Brand BuzzIdentify buying pattersSocial Media ContentAcquire customersOnline Reputation Management

What can you finally

do?

We know what “we” want

Social Media Data: the Enabler

27 Feb 2014

Social Media

for Industries

PAGE 1427 Feb 2014

One size fits all?

27 Feb 2014

How is Social Media different for each

IndustryCustomer Industry

27 Feb 2014

Examples - Banking

PAGE 1727 Feb 2014

BFSI - Key Age Groups (India)

Less than 30 Years

30-40 YearsGreater than 40 Years

Majority of them were

interested in discussions

related to mf’s, sip’s start-

ups, VC funding's & Angel

investors

Majority of them were keen

interested in stocks buzz &

discussions related to short

term investments

Majority of them initiated and

participated in all kinds of insurance,

stocks & mf’s discussions, many people of

this age group were sharing investment

tips & claims settlement issues

50% of the observed

26% of the observed24% of the observed

27 Feb 2014

BFSI – Gender Analysis (India)

Males were almost 2 times more active than females in

posting BFSI related queries & suggestions

67% 33%

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Examples - Food

PAGE 2027 Feb 2014

Why do we talk about food?

27 Feb 2014

What type of food we talk about?

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Where & when do we talk food?

27 Feb 2014

How to Make Social Media

Data Relevant for YOU?

PAGE 2427 Feb 2014

Approach for Industry specific Analysis

Brand

30%

Consumer

30%

Product &

Marketing

30%

INNOVATION 10%

27 Feb 2014

Approach for Industry specific Analysis

1. Key Topic Of discussion

2. Engagement Rate /Reach

3. Facebook/Twitter Page Analysis

4. Key Influencing sites

Any New Innovation done within the industry or the brandLoyalty Switchers Advocates

Product/Service issues

Sentiment Score

Top Influencers

Persona Analysis

Buzz Analysis

Source Analysis

Competitive Analysis

Big Emerging & Neutral

Marketing &

Product

VOC

Voice of

Customer

Brand

Innovation

27 Feb 2014

Example – Banking

PAGE 2727 Feb 2014

Social Insights Methodology

STEP 1: SELECT

CRITERIA FOR THE

STUDY

STEP 2: INDUSTRY

SEGMENTATION &

CATEGORIZATION,

DEMOGRAPHIC

BIFURCATION - AGE,

GENDER etc.

STEP 3: CATEGORY & SUB

CATEGORY WISE

SENTIMENT

Insurance

Banking

Mutual Funds

Stocks

Others

1.CATEGORYa. SUBCATEGORY

+ve-veNeutral

KEY INSIGHTS

INDUSTRY - BFSI

GEO - INDIA

DURATION - 1st-31st Jan,2014

SOURCES – Twitter, Blogs,

Forums, News & other Social Media Channels

27 Feb 2014

Social Insights for Financial Sector

31%

28%

22%

12%

7%

Stocks Mutual Funds Insurance Banking Others

31%

28%

22%

12%

7%


31%

28%

22%

12%

7%


31%

28%

22%

12%

7%


31%

28%

22%

12%

7%


31%

28%

22%

12%

7%

Stocks Mutual Funds Insurance Banking OthersInsurance related discussions are mostly

either a promotional call complain, or an

enquiry, or a claims settlement related

discussion

Includes discussion around NSC, Post Office Savings, Bonds, VC,

Lottery, Lucky Draw, Angel Investors

Inclusive of discussions related to Indian banking

system, CASA a/c opening & promotions, IBPS,

Credit Cards & Loans

Captured various conversation around

stock quotes, exchange market

conditions, experts tips & bullish market

trends & forecasts

Buzz related to MF’s, growth rate, SIP’s

MF agents, policies & regulations, lock-in

periods & return on investments

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22% 21%

26%

10%

15%

9%

27%

24%26%

21%

29%

26%

20%

12%13%

< 30 > 30 & < 40 > 40

Insurance Banking MF Stocks Others

22% 21%

26%

10%

15%

9%

27%

24%26%

21%

29%

26%

20%

12%13%

< 30 > 30 & < 40 > 40

Insurance Banking MF Stocks Others

27 Feb 2014


Now, let’s look at BFSI as an overview

(all age groups) & bifurcate the

categories into sub- segments to drill

down further

Others105

Stocks465

Mutual Funds 420

Banking 180

Insurance

330

27 Feb 2014

25 July 2013 PAGE 32


Others

105

Stocks

N 465

Mutual Funds

N 420

Banking

180

Insurance

330

Investment: Insurance as investment

options

Money : money worth options/

monetary value for insurance segment

Tax : Insurance as Tax saving option

General : Vehicle insurance chatter

Policy/Claims : Insurance chatter

around claims & policies (Life/Health

Insurance were major chatter for claims)

Life : Insurance chatter around life

insurance

Health : Insurance chatter around

health insurance

Investment24%

Money17%

Tax16%

General16%

Policy/Claims10%

Life 10%

Health7%

27 February 2013 PAGE 33


17%32% 35%

21%14% 14% 17%

3%

9% 7%

13%15% 15% 5%

80%

59% 58%66% 71% 71%

78%

Stocks31%

Mutual Funds

28%

Insurance22%

Banking12%

Others7%

Around 20% of people discussing about insurance finds insurance as a investment instrument, Most of their

discussion were related to insurance investment & returns

14% of the total people discussing about insurance were actually investing or enquiring about insurance

investment because of tax saving benefits

General insurance related discussions were basically claims settlement related and new policy enquiry

Policy & Claims related discussions were mostly complains & settlement related issue, Almost all the comments

observed referred policies as complicated rules & regulations

7%16% 20% 18% 23%3%

17% 8% 9% 5%

90%

67% 72% 73% 72%


Positive Negative Neutral



26%

19%36%

15%

4%

ICICI Bank HDFC Bank SBI Bank Axis Bank BOB

26%

19%36%

15%

4%


26%

19%36%

15%

4%


26%

19%36%

15%

4%


26%

19%36%

15%

4%

ICICI Bank HDFC Bank SBI Bank Axis Bank BOBKey Findings:

Indian banking still levy stiff paper-works

right from ac opening to monetary

transactions

Many buyers complains were observed

stating no clue about loss of money in

online payment

In the era of E-commerce banking still

requires complicated formalities for

online monetary transactions

ATM withdrawal are still not free, many

people expressed their grievances as

they donate several amount of money

from their salaried ac only for drawing

money from ATM

Indian banking has to be more advance to convene the

smooth & easy flow of money across the nation (especially

small town wherein A cities can transfer funds to B Towns

families without much paper work)



Discussions pertaining to various types of Insurance investment, claims

settlement related, tax saving benefits, experts suggestions & advice

Investment : Around 2 in 10 people discussing about Insurance were enquiring about various insurance policies from a secured investment standpoint

Money : Adviser & Experts were suggesting various tips to save money through different insurance plans

Tax : Tax saving policies, and various taxation conventions for insured investments on surrender before maturity were most discussed topics

General Insurance : Top buzz were around SBI General Insurance recruitment, general insurance promotions & various vehicle insurance plans

Policy/Claims : 1 out of every 10 people discussing about insurance were either enquiring, suggesting or complaining about claims settlement & maturity. Mostly vehicle/ health insurance related claims saw a major –ve chatter as people sign up insurances without reading the terms & conditions

Life Insurance : Majority of people discussing about life insurance policies, maturity & claims enquiries were above 40 age group

Health Insurance : Most of the health insurance insured were unhappy with un-settled claims & hidden policies

Closing Tips

PAGE 3627 Feb 2014

Social Media

data is really

BIG and it is

growing every

second

#1

27 Feb 2014

One size does

not fit all

industries

#2

27 Feb 2014

Listen to the

consumer and

not only to the

brand mentions

#327 Feb 2014

Integrate

social insights

with your

business use

cases

#4

27 Feb 2014

QUESTIONS?

Ashok Patro[E] [email protected]

PAGE 41

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PAGE 4227 Feb 2014

Thank You Ashok!

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27 Feb 2014

SoLoMo Thursday - Make social media big data relevant to you

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Transcript of SoLoMo Thursday - Make social media big data relevant to you