The Future of Social Intelligence - Extracting the Gold from Social Media #smm2011 Toronto

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description

Companies are just beginning to grasp the true power of social data. The ability to collect feedback without the need for costly market research studies, surveys, and focus groups is a relatively new prospect. But as brands have started measuring, many sense that they could (and should) be doing much more with the abundant data at their finger tips. Simply collecting data is not enough. To remain competitive, marketers must fully realize the breadth and depth of knowledge and insights they can gain from online conversations. Scott Briggs discusses the state of social media intelligence today and where we are headed in the future. He outlines the advanced techniques that forward-thinking brands are using to move from simply collecting data to truly analyzing and drawing insights that are fueling smart business decisions. The future of social intelligence is predictive, strategic, and unlike social measurement as you know it today. Are you ready?

Transcript of The Future of Social Intelligence - Extracting the Gold from Social Media #smm2011 Toronto

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The Future

of

Social Intelligence

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About Me

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Social

Intelligence is

Today’s

“Moneyball”

Opportunity for

Businesses

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What is Social Intelligence?

“The management and analysis of customer

data from social sources, used to activate and

recalibrate marketing programs.”

– Zach Hofer-Shall “Defining Social Intelligence”

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My Definition

The Process of Using Social

Media Data to Solve Business

Problems

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The Changing Consumer

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Why use Social Media Data?

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9 Reasons

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Don’t be yesterday’s news.

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Know when an activity occurred.

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Get ALL of the answers.

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Hear from more people,

more often.

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See the forest AND the trees.

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Get the complete picture.

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The more the merrier.

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$avings

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It’s the future.

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The Current State

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Typical Social Media Questions

3

2

How good are we at

launching products & how

can we get better?

How does sentiment in social link to my

customer sat/ NPS score?

What’s the ROI of our

marketing activities?

How can we be more

responsive when things

go wrong?

Which

experiences

matter to

customers

(and which

don’t)?

What are our

competitors

doing in social?

How do we drive reach

value & volume?

Who’s influencing

our brand?

How can we be

more

innovative?

How is our brand

connecting to

customers’ lives?

How should we

engage?

What should we

stop doing?

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Social Media Drives many Business Functions

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Everyone wants to talk about

Measurement

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Anything can be measured…

…Measuring and Analyzing aren’t the

same thing

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Metrics and Measurement Still Evolving

“What do I do with all this data and what

does it mean?”

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We Need to Get Better at Solving Specific

Problems for Business Decision Makers

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The Future of Social Intelligence

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Cross – Discipline

Nobody “owns” social it’s a business

activity that solves a specific business

problem.

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Data Integration

Organizations will begin to integrate Social

data with other data sources.

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Predictive

Social Media will be forward looking

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Focused on Outcomes

The results will drive tangible business

result, not just Social results.

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Actionable

Measuring Social Media will provide a

competitive advantage for organizations.

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Tied to Corporate Results

Social Media metrics will be measured on

the corporate KPI scorecard.

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Two Examples

Social Intelligence Providing a Competitive

Advantage

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Multi-National CPG Needs to better Target

Content for a Website

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• Creating a non-branded website aimed at mothers with

school age children

• Goal is to identify the top family-minded female social

media users in the UK

• Facilitate sharing of product information

• Want to drive trust of key brands

• Want to engage for trials of new brands

• Want to always provide the most relevant, targeted

content

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The Social Media Research Methodology

Virtual

ethnography:

Discovery &

learning

Social Media

Measurement:

Theme

validation to

‘define’ target

demographic

Data Analytics:

Identifying and

extracting a

target data set

Social data set Report Content

development

Refresh social

data set Report Content

development

Refresh social

data set Report Content

development

On-going

tracking cycle

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Virtual Ethnography

Identify how mothers

interact on-line

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Mothers Play Many Roles

Event

planner

Technology

user &

adviser

Financial

manager

Employer

Family

archivist

Nurse

Friend

Activist

Wife

Cleaner

Teacher

Confidant

Adviser Cook

Mothers with

school age

children

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Social Data Analysis

Data Analytics:

Identifying and

extracting a

target data set

Identify

• Collect Social Media conversations for the themes created in the research phase

• Create a “conversation matrix” to segment your data set by categories and themes

• Examine and quantify what is important and relevant to the target audience

• Analyze data by conversation, domain, and author within each category

• Determined by your goals and objectives

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Analytics and Measurement

Author Influence – Relevant Influence Index (RII) • We created a unique measure of influence specific to mothers. We have

called it the Relevant Influence Index (RII)

• A score of 100 = average influence compared to all the other authors in the data set

• If someone scores 200, they are twice as influential as the average author in our dataset, so if someone has a score of 5,000, they are extremely influential to your target audience and 50 times more influential than the average

• The index is based on three things: 1. Volume of posts containing relevant content (i.e. from the conversation

matrix) 2. Relevance of content (number of family taxonomy words contained in

posts) – we call this NET FAMILY SCORE 3. Reach within the community – number of followers or responses to /

comments on forum posts or blog entries

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Analytics and Measurement

Theme Relevance Index (TRI) • We created a unique measure to track changes in themes over time, we it call

it the Theme Relevance Index (TRI).

• Using the theme categories developed in the conversation matrix we can track changes in theme volume and sentiment over time. We can see changing moods on a weekly/monthly basis based on the index score of each category.

• A score of 100 = average compared to all categories in the data set. A score of 200 indicates that theme is twice as relevant as the average theme in our dataset.

• The index is based on three main elements: 1. Volume of posts containing relevant content for each category (i.e. from

the conversation matrix) 2. Sentiment of the each category 3. Reach of conversation within the theme

• This data is then tracked weekly and monthly to measure change in attitudes

and themes of our target audience

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Measurement Framework

Social data set Benchmark Report Visualize

Refresh social

data set Report

Visualize

Refresh social

data set Report

Visualize

On-going

tracking cycle

Act

• Determine the business outcome up front

• From the data, develop standard measures and metrics that explain your business outcome

• If comparing or tracking over time we frequently will create a measurement index

• Determine the best way to visualize and present this data for your audience

• Automate the process of updating the measurements

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Experience Index

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Enterprise Technology Company Needs to

Understand how Consumers Experience

New Products

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• Goal was to drive greater uptake of new products to

Enterprise Clients

• Did not have a clear picture of how users experienced new

product releases

• Current models work well to predict purchase, but are costly

and time consuming

• Need more “in the moment” data for decisions during a

release cycle

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Research to understand the customer journey

Identified 30+ Customer Experience Stages

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Using the Customer Experience Methodology we

created 3 Data Sets

Traditional Survey

Social Media Conversations of Participants

Broad Social Media Search

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Modeled the Data Sets

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Results indicate the Social Data Model performed

similar to the Survey Data Model

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The Metric Calculation:

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Scott Briggs

Sr. Director, Social Strategy and Insights

Alterian, Inc

[email protected]

+1 312 884 5236

www.twitter.com/scott_briggs