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IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
IBM Webinar:   Beyond the Hype, Using Social Media to Enhance Your Customer Experience
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IBM Webinar: Beyond the Hype, Using Social Media to Enhance Your Customer Experience

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Much has been said regarding the sheer volume and influence of social media on organizations' products, brands and services. Little has been said, however, on how to use social media to mine customer …

Much has been said regarding the sheer volume and influence of social media on organizations' products, brands and services. Little has been said, however, on how to use social media to mine customer insight to improve and enhance consumer experiences across multiple buying channels. These slides present a point of view on how to assess your social media business requirements and determine the most effective way to measure your customers' experiences using social media.

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  • 1. Business Analytics and OptimizationBeyond the Hype: Using Social Media to Enhance YourCustomer ExperienceCreate Relationships. Build Advocacy. Improve Loyalty.
  • 2. Business Analytics and Optimization Agenda Shifting Customer and Marketing Landscape Social Media Maturity and Customer Experience IBM Cognos Consumer Insight – Demo Selling Social Media Internally Summary2 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 3. Business Analytics and Optimization What is social media? Social Media is the democratization of information, transforming people from content readers into publishers. It is the shift from a broadcast mechanism, One-to-Many, to a Many-to-Many model, rooted in conversations between authors, people, and peers. Brian Solis, Social Media Thought Leader3 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 4. Business Analytics and Optimization Social Analytics are in a hype cycle characterized by heightened if not unrealistically high expectations… Gartner Hype Cycle – Emerging Technologies Source: Gartner, September 20104 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 5. Business Analytics and Optimization Social Media is not only influencing consumer behaviour but creating vast amounts of new and valuable information 78% of consumers trust peer recommendations Source: August 25, 2009, “The Broad Reach Of Social Technologies” Forrester report 770 million people worldwide visited a social networking site. Source: comScore, Social Networking Phenomenon5 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 6. Business Analytics and Optimization We have entered the age of the empowered consumer Leverage Expect Demand social consistent exactly what Get it now networking and relevant they want or go information elsewhere! 95 million 75% Skeptical $93 billion Number of tweets sent Percentage of people who Amount in sales missed due via Twitter each day believe companies don’t tell to out of stock inventory the truth in advertisements6 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 7. Business Analytics and Optimization The evolving role of marketing Tomorrows CMO Today’s Mission: Today’s plus: CMO + Drive consistent interactions across all channels + Steward the complete customer experience Mission: + Enable information & insight across the business Understand the market and the customer + Anticipate customer needs Build awareness and demand + Monitor and harness customer evangelism Steward the company’s brand experience + Optimize outcomes and return on marketing investment Drive brand strategy and execution7 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 8. Business Analytics and Optimization Transformational shift in marketing Winterbury Group, October, 2010 30% + consumer media spending is through digital channels Standardization of digital metrics is fueling wider adoption Suppliers (agencies) continue embracing digital capabilities to get in front of their customers8 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 9. Business Analytics and Optimization Implications ….9 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 10. Business Analytics and Optimization Agenda Shifting Customer and Marketing Landscape Social Media Maturity and Customer Experience IBM Cognos Consumer Insight – Demo Selling Social Media Internally Summary10 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 11. Business Analytics and Optimization Organizations are still trying to determine the right balance of social media offense and defense Protect or engage. Hide or reveal. Much depends on the business model and constellation of constituents that can effect reputation, revenue and relationships. Fear Opportunity So What’s the Right Balance?11 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 12. Social Analytics POV Business Analytics and Optimization Savvy companies tap into customer generated content to answer key brand, R&D, corporate strategy and public relations questions What will What are the most What new products How do consumers talked about product should we develop? feel about our new consumers from attributes among Which products / messages / ads? different segments product categories? Is companies should we say about our it good or bad? acquire? products? How are consumers using our products? What attributes do they associate with them? What are our competitors doing to excite the market? Are my spokespersons helping or hurting my reputation? Is there negative chatter around our sales force that our Public Relations team or training programs should respond to?12 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 13. Business Analytics and Optimization Understanding your goals and readiness for Social Media Analytics Considerations Questions for Marketing CMO’s and Sponsors • What are your customer objectives: Attract Customers Increase Value of Existing Customer Relationships Retain Customers Assess • How do customer interact with you today? • What are they interested in? • Where do they hang out Online? • Are there significant influencers that speak to your brand or products? • Who are you targeting and why? • What will you be measuring: Share of Voice? Measure Activation? Brand Sentiment? Influencers? Sales over the life of the customer engagement? • What’s your vision for social media and its integration into operational marketing systems? Integrate • How do you intend to measure the effects of social media on brand equity and reputation, pipeline, and sales orders and margins? • How will you integrate social analytics into other customer data analytics?13 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 14. Business Analytics and OptimizationCustomer example – consumer products 4-Point Strategic Plan for Social Media Analytics Establish Social Analytics Center of Excellence Establish Advanced Social Analytics Capability for Brands, R&D, Strategy, and Public Relations Progressively develop and roll out Social Analytics cockpit across brands and organizations Train Business Analysts within each organization to leverage tools & consumer insights14 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 15. Business Analytics and Optimization Social Media Analytics helps organizations extend beyond traditional segmentation and gain enhanced understanding of the consumer Econometric: Time until Real-estate & Repurchase in Unemployment Key Categories Age + Income + Most segmentation Annual Geography approaches only Transactions Annual Participation focus here Spend in Loyalty Level Program Use of In- Preferred House Credit Product Card Use of Categories Service Return / Programs Preferred Exchange Channel Behavior Breadth of Categories Social media analytics can provide an Length of Shopped increased aperture of the consumer Time as Customer Response and the ability to see new patterns to Media and opportunities Recency + Frequency + Value15 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 16. Business Analytics and Optimization Creating a path to customer analytics with social media Gain a comprehensive real- Achieve near real-time 1 Develop deeper understanding of consumers 2 understanding of consumer behavior, loyalty and attitudes 3 consumer insight and decision making • Create better understanding of consumer • Refine consumer segmentation models • Act with speed to improve promotions sentiments via social analytics and product introductions • Align views of consumer segmentsUnique Value Delivered • Gain insight into shopper and consumer between CP and Retail • Operate near real-time at store level to needs, preferences and behaviors dramatically improve performance • Use analytics to optimize • Capture and leverage insights to create merchandising, promotional and • Align all aspects of traditional and differentiated product offerings marketing tactics digital consumer communication • Gain multi-channel insights to provide • Continual improvement of all brand • Plan more effective promotions and program elements consistent brand experience new product introductions • Listen to digital channels and deliver personalized 1:1 communication VALUE Maximize margins by proactively refining brand programs via live Improved visibility of consumer market insight behavior & perceptions Increase consumer loyalty and reduction of brand ‘trade-offs’ Increase lifetime value of the Aligned product offerings with consumer consumer expectations and segments Improve category volume and profit for retailers Increase consumer awareness and retention of brand attributes and benefits16 Relative scopeMonitoring Discussion Social Media and complexity of change © 2011 IBM Corporation
  • 17. Business Analytics and Optimization Agenda Shifting Customer and Marketing Landscape Social Media Maturity and Customer Experience IBM Cognos Consumer Insight – Demo Selling Social Media Internally Summary17 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 18. Business Analytics and Optimization The foundation for the solutions is IBM Cognos Consumer Insight Create Relationships. Build Advocacy. Improve Loyalty. Grow Your Business Enhance Your Reputation Improve Your customer experience18 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 19. Business Analytics and Optimization IBM Cognos Consumer Insight Why choose CCI? • The industry’s most scalable social media analytic application • The industry’s most scalable social • Deep insight into consumer media analytic application sentiment from billions of blog posts • Richer insight into consumer and discussion boards of blog sentiment from billions posts and discussion boards • More sophisticated analysis of • Sophisticated analysis of consumer preferences preferences and consumer and interests interests (Affinity and Evolving (Affinity and Evolving Topics) Topics) • The only solution capable of • The only solution capable of a seamlessly integrating with seamlessly integrating with a robust robust business analytics business analytics environment environment19 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 20. Business Analytics and Optimization IBM Cognos Consumer Insight - Retail Social Media Campaign Social Media Reputation Social Media Customer Merchandise Management Public Relations Management Manager Customer Service Service Management • Apply the analysis of key • Make call center staff more • Search billions blog of posts, stakeholders and influencer 100,000 forums and discussion productive by quickly responding sentiment to targeted public groups to measure the to sentiment of consumer blogs relations, investor relations or and posts, reducing call and email effectiveness of your social media public affairs initiatives campaign and the sentiment of volume with timely analysis consumer responses • Inform senior management of • Anticipate customer reaction to improvements to reputation products and services with affinity • Gain insight into affinity among stakeholders with relationships in your search of relationships and evolving topics consistent analytics using a your campaign’s hot words to associated with searchable hot standard sentiment dictionary words more agilely and precisely modify messaging for your campaigns • Examine affinity relationships to • Improve customer lifetime, loyalty anticipate new opportunities to and positive word-of-mouth • Expand your social media engage audiences around specific campaigns to incorporate other endorsements with rapid first- subject areas discussion contexts with analysis contact resolution of evolving topics • Easily configure business rules, • Capture customer comments with filters and analytics to more • Target other social media precise filtering and drill though quickly and precisely measure and communities or communications respond to new events channels Create Relationships Build Advocacy Improve Loyalty20 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 21. Business Analytics and Optimization Merchandise Manager – Demo Example To continuously review how relevant and attractive their merchandise is perceived, they want to evaluate social media sentiment on their product category to assess the scope of awareness, hot word affinity and relationship to different products. • Needs ability to assess product interest among shoppers • Needs to evaluate shopping experience Merchandise Manager • Needs to assess promotions • Needs to monitor sentiment vs. product sales Social Media Analysis Sentiment analysis of product category, sub-categories and specific features Drill down filtering capabilities to individual posts by geo Affinity relationship with products and purchasing intent over time, so promotional activities can be factored in IBM Cognos Consumer Insight Highly scalable to search billions of blog posts and discussion boards Easy to configure analysis to target consumer shoppers Capacity to assess affinity of product features and intent to purchase – and to correlate with sales21 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 22. Business Analytics and Optimization IBM Cognos Consumer Insight22 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 23. Business Analytics and Optimization Agenda Shifting Customer and Marketing Landscape Social Media Maturity and Customer Experience IBM Cognos Consumer Insight – Demo Selling Social Media Internally Summary23 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 24. Business Analytics and Optimization Gain actionable insights through advanced analytics Social Media Analytics Customer Analytics Revolutionary customer segmentation approach Understand whatInsight Cognos Consumer the tailored uniquely to each client’s business model, Foresight marketplace is (or isn’t) saying Front-end Reporting customer data, and operational practices Dashboard about your brand, product, Discovery Time until Econometric: Real-estate & Unemployment service, etc. Repurchase in Key Categories Age + Income + Understand who + Geography Annual Transactions your customers are. Understand the tone and Annual Spend Participation in Loyalty Level Program impact of that conversation. Use of In- Preferred House Credit Product Card Use of Categories Service Return / Programs Identify areas of opportunity to Create Point of View Preferred Channel Exchange Optimize investment strategies Behavior Analyzing help shape that conversation Breadth of Taxonomies Analyzing Relationships Length of Optimize spend by Categories Shopped Predict ROI and to gather valuable market Time as Customer geographic area Response by area intelligence. UnderstandRecencyto Media what your + customersFrequency doing. are + Value = Actionable Insights Optimize marketing spend, convert customers, shape public opinions, stay ahead of emerging trends, build brand awareness and loyalty24 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 25. Business Analytics and Optimization Social media approach …. Internal stakeholders What are the key constituents to justifying a social media and customer analytics approach …. ● 88% of CEOs will focus on getting closer to their customers in the next 5 years. What’s our strategy to get closer to customers to better meet their needs, drive greater loyalty and profitability? (Source: CMO Study 2009) ● Time to reach mass audience has shortened from 38 years 3 years with social media...Twitter reached 50 million users in 3 years. How can we be more nimble and cost-effective in our approach to acquiring and retaining customers to meet revenue objectives? (Source: CMO Study and Gartner CEO Study, 2009) ● Brand contributed to 68% and 71% of Disney’s and MacDonald’s market capitalization respectively. Shouldn’t we measure the business impact of our brand’s performance using social media? (Source: Interbrand) ● Kryptonite’s faulty bicycle lock started with one compliant and over 10 days reached up to 1.8M posts, forcing the company to spend $10M in free product exchanges. What can we do to anticipate and quickly manage crises and threats to our reputation? ● Analytic-driven organizations outperform their peers in revenue, EBITDA, return on invested capital. Are we capable of getting a consolidated view of customer and supportive analytics? (Source: CFO Study 2010) ● Consolidated management of social and customer analytics with technologies that provide insight into structured and unstructured customer data for a consistent view across the organization. Are we able to get a consistent view of the customer across different technologies? ● Packaged social media analytics that assesses customer and stakeholder perceptions that can scale with business needs and minimize IT support. How can we consolidate the number of vendors? ● Seamless BI glide path to existing Cognos and integration support for other IBM assets, helping you more effectively gain insight into your customer data. What’s our social media IT strategy and how can it be connected to wider enterprise imperatives?25 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 26. GBS Business Analytics Optimization Business Analytics and Optimization • No Question - The richness of social media data and the unbounded growth of user generated content found in networks, communities, blogs, forums, etc., on the web provides an exceptional opportunity for companies to more effectively listen to and discern what being said about your products and services by real people passionate about their beliefs: • Social media monitoring tools provide and excellent opportunity to listen, analyze and evaluate conversations to understand more about key issues and/or how a company may be viewed by influential members of important communities • However, the answer does not lie in technology alone. As a matter of fact, applying technology without a strong understanding of customer objectives, subject areas and capabilities of analytical tools is not very useful or productive. AT IBM, we believe that as designers, developers and users of social media tools who live and breath social media we can provide strong results for companies to evaluate for how to successfully integrate social media into current business processes and objectives • We would be happy to structure a project to address your unique social media monitoring needs 2626 26 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 27. Business Analytics and Optimization Questions ? ? ?27 Social Media Monitoring Discussion © 2011 IBM Corporation
  • 28. Business Analytics and Optimization28 Social Media Monitoring Discussion © 2011 IBM Corporation

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