Much has been said regarding the proliferation of social media – its multiple channels, scope of content and subject matter. Something for everyone. Available to everyone. Immediate and impactful. But what’s different from the media explosion of television and radio some 50 year’s ago is both the sheer volume and influence of social media. 770 million people have visited a social networking site, according to comScore … According to Forrester research, 4 out of 5 Americans use social media in some capacity. But it’s the power of influence and massive distribution that make social media such a potent force in influencing consumer perceptions. In fact, 78% of consumers trust their peer’s recommendations … And it’s this volume of content, distribution and influence that is re-shaping how organizations are engaging their customers and broader constituencies through social media, there relationship to brands, products, services and issues of the day.
We asked CEOs how their customer expectations of them would change over the next five years. And without blinking the vast majority said, greater customer intimacy. From getting closer to customers, to better understanding their needs to greater visibility into their business. Senior executives are focused on understanding their customers to drive more business value with their marketing spend.
And this is one of the reasons why there’s surge in digital advertising spend across the board. What’s of particular note is the growing area of social applications, widgets and listening platforms to manage the increasing volumes and influence of social media. Which the Winterbury Group expects to represent roughly $300M in spend next year. More importantly, though, as social media becomes a critical component of an organization’s marketing mix, its spend is being scrutinized, with better justification and metrics required to engage a very daunting and vast social media landscape.
This is where Consumer Insight can help. IBM Cognos Consumer Insight is the industry’s most robust social media application that enables marketing professionals to transform their customer relationships by actively incorporating their sentiment insights and advocacy into the underlying business and marketing strategy of their organization, helping them be more responsive, precise and agile to market demands. And it does this by: Understanding to your customer needs to target new offers and products more cost effectively – to allow you to grow your business. Helping you make evidence-based messaging decisions to enhance your reputation among your customers and constituencies. Enabling you to respond more quickly to customer requests to improve service level effectiveness to improve customer care.
We’ve designed the product around business drivers that determine the impact of social media on brand, product and service. These business drivers shape the underlying capability areas, which include: The industry’s most robust search capability Multi-dimensional sentiment analysis Contextual affinity relationships to key points of analysis And related and relevant topic association above and beyond what you initially search and analyze This is all completed and assessed across diverse and multiple source areas – from facebook, to billions of discussion boards, to Twitter to Newsgroups.
Our on-premises approach searches publicly available information on the Cloud ... It is then fed into our analytics platfom where different dimensions or kinds of content are analyzed against a standard dictionary to determine positive, neutral, negative or ambivalent sentiment – as one example. As I mentioned, you can also view this across different kinds of analysis, such as affinity and evolving topics. This is then reported via dashboards, which can then be communicated to relevant internal stakeholders. Let’s take a deeper look at how this works in more detail.
Consumer Insight has the industry’s most robust search capabilities. It can search billions of blogs and hundreds of thousands of forums and discussion groups on publicly available websites … In this regard, we are: Highly scalable … (review section) Easy to configure … (review section) Flexible search … (review section) In addition, we can export our entire datamart as comma delimited files. This is a key differentiating capability as it enables our data to be plugged into a bigger solution for deeper analytics or larger business processes for turning the insights into operational business value.
Another differentiator is affinity relationships: The ability to understand the relationship between areas of analysis – from hot words to snippets, for example – and their intersection with other dimensions to assess impact and potential future messages. The value is threefold: Gain insight (review bullet) Anticipate new opportunities (review bullet) Evaluate campaign messaging (review bullet)
Evolving Topics, meanwhile, allow for the analysis of content that shares the same terms to determine related topics above and beyond your analysis of trends and common discussion topics. The main advantage of this feature is that: Determine risks and opportunities … (please review) More effectively target … (please review) Expand your social media … (please review)
Lastly, we provide comprehensive filtering capabilities regarding the analysis of sentiment … allowing you to drill down into the specifics of the post, ascertain audience, location, media and other minute details. The result: Your organization can more definitively. Make evidence-based … (review the bullet) Identify and target … (review the bullet) Determine the effectiveness … (review the bullet)
What does this mean for your marketing department .... For merchandise managers in retail or brand managers in CPG, it means the capacity to: (review bullets) For public relations, it means the ability to: (review bullets) For customer service, it means: (review bullets)
Let’s review some specific use cases. This is a very typical scenario for our merchandise manager during the Holiday Season. So what’s the problem here? Analysis. And the ability to gauge and respond to consumer sentiment Our merchandise manager what’s to able to use Consumer Insight to determine product interest, online and offline shopping experiences and reaction to multi-tiered campaigns. Consumer Insight helps him do that by providing: (Review bullets under IBM Consumer Insight)
For our public relations professionals, Consumer Insight provides him with the critical baseline to justify engagements with particular stakeholders in his company’s community. With its capacity to assess sentiment regarding attributes associated with the company’s reputation, for instance, he can provide management with a clearer picture of the publics reaction to issues. In the corporate social responsibility campaign, he’ll need to understand current reputational standing as well as the campaign’s affect on either modify or stabilizing it. Consumer Insight helps him do that by providing: (Review bullets under IBM Consumer Insight)
Customer service, meanwhile, wants the call center during the Holiday Season to be more productive by proactively engaging consumers online. In this example, the customer service manager needs to accurately and precisely filter through sources of complaints to engage customers issues effectively and quickly. In addition, with Consumer Insight’s ability to assess evolving topics associated with the customer complaints, the customer service manager can begin to assess and provide feedback to managers on future issues. As a result Consumer Insight can deliver the following: (Review bullets)
In summary, organizations that need to engage the customers and constituencies through social media – its multiple channels, opinions and content …. … need an application that’s scalable and robust. One that can: Understand customer needs … Evaluate corporate reputation Respond more quickly …
Social Media Influence 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 Phenomenon
82% of CEOs want to better understand customer needs 88% 85% of CEOs require more visibility into their businesses Source: 2010 IBM CEO Study For CEOs – It’s About Greater Customer Intimacy Businesses are focused on understanding their customers to drive more/greater business value with their marketing spend of CEOs will focus on getting closer to their customers in next 5 years
Justifying and Measuring Digital Marketing 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 customers Winterbury Group, October, 2010
What Are We Selling? IBM Cognos Consumer Insight enables marketing professionals to be more precise, agile and responsive to customer demands and opinions expressed through social media by listening, measuring and analyzing large volumes of publicly available content on the Internet. It is the only solution on the market readily able to leverage a broader business analytics environment by seamlessly connecting to Cognos BI. SOCIAL NETWORKS (Publicly available) WIKIS PHOTO SHARING BLOGS 100+ million MICROBLOGS FORUMS/NEWSGROUPS 120+ million VIDEO SHARING SOCIAL MEDIA NEWS AGGREGATORS Customers Issues Public Relations Campaigns Product Sales Experience Support Community Revenue Reputation Relationships Retention
Enhance Your Reputation Understand your customer needs to target new offers and products more cost-effectively through different social media channels Create Relationships. Build Advocacy. Improve Loyalty. Evaluate your corporate reputation and make evidence-based messaging decisions that target the right stakeholders at the right time Improve your customer experience Respond more quickly with accurate, timely and relevant insight into customer requests to ensure a consistent brand experience across all channels IBM Cognos Consumer Insight Grow Your Business We provide analytics that listen, measure and analyze social media performance to more effectively:
IBM Cognos Consumer Insight Product Capabilities BLOGS DISCUSSION FORUMS TWITTER NEWSGROUPS FACEBOOK Source Areas Business Drivers MULTILINGUAL <ul><li>Dimensional Analysis </li></ul><ul><li>Filtering </li></ul><ul><li>Voice </li></ul><ul><li>Keyword Search </li></ul><ul><li>Dimensional Navigation </li></ul><ul><li>Drill Through to Content </li></ul><ul><li>Relevant Topics </li></ul><ul><li>Associated Themes </li></ul><ul><li>Ranking and Volume </li></ul><ul><li>Relationship Tables </li></ul><ul><li>Relationship Matrix </li></ul><ul><li>Relationship Graph </li></ul>COMPREHENSIVE ANALYSIS SENTIMENT EVOLVING TOPICS AFFINITY ANALYTICS Customer Care Corporate Reputation Campaign Effectiveness Competitive Analysis Product Insight
How IBM Cognos Consumer Insight Works? Process content based on relevance to business <ul><li>Communicate insight broadly across the business </li></ul><ul><li>Automatically identify and tag relevant content </li></ul>Analytics Platform <ul><li>Crawl </li></ul><ul><li>Information Extraction </li></ul><ul><li>Compute Infrastructure </li></ul><ul><li>Admin User Interface </li></ul>Web content Multiple Languages 3 rd Party Providers Interactive Visualization & Analysis <ul><li>Database </li></ul><ul><li>Semantic & Faceted Search Index </li></ul>Search-led Data Exploration Cognos Reports & Analytics Integrated UI
Analyze billions of blog posts and hundreds of thousands of forums and discussion groups on publicly available websites “on the fly” to measure the effectiveness of your social media campaigns and the sentiment of consumer opinions of your brand and company Comprehensive Analytics – <ul><li>Highly scalable and robust search that can pull snippets from multiple social media channels, such as blogs, posts and discussions forums, Twitter, Facebook and Linkedin </li></ul><ul><li>Easy to configure with user-defined business rules, or analytics, to create snippets of consumer opinions that can be searched by different dimensions, such as date, keyword or region </li></ul><ul><li>Flexible search by specifying attributes for your analysis, while modifying sentiment to analyze the same content from a different perspective </li></ul>
<ul><li>Gain insight into affinity relationships in your search of your campaigns’ hot words to more agilely and precisely modify messaging for your campaigns </li></ul><ul><li>Anticipate new opportunities to engage audiences on specific subject areas with the words and messages that resonate with and are specific to their interests and perspectives </li></ul><ul><li>Evaluate campaign messaging by analyzing affinity contexts and associations with corporate and brand values to ascertain responsiveness and reaction to reputation, customer service and corporate social responsibility activities </li></ul>Affinity Relationships – Understand the relationship between different areas of analysis and view the snippets that are associated with their intersection to gauge impact and identify future messages among key audiences
<ul><li>Determine risks and opportunities of related topics to corporate reputation, campaigns and customer service </li></ul><ul><li>More effectively target broader adjacent themes and events to link your product, services and corporate messages to, while prioritizing and ranking their relevance and applicability for proactive campaigns </li></ul><ul><li>Expand your social media campaigns to incorporate other discussion contexts by analyzing evolving topics related to hot word sentiment and by targeting other social media communities or communication channels </li></ul>Evolving Topics – Capture a weighted summary of discussions to determine snippets that share the same terms and ascertain related topics above and beyond your analysis of trends and common discussion topics across time
Sentiment – <ul><li>Make evidence-based messaging decisions with analysis into consumer and stakeholder sentiment; Assess with precision trends and changes in perception of your corporate reputation and reaction to campaigns </li></ul><ul><li>Identify and target new social media channels to drive greater advocacy of your products and services with key influencers based on an analysis of sentiment </li></ul><ul><li>Determine the effectiveness of your campaigns’ messages and their impact on consumers’ purchasing decisions, as well as the resonance and believability of their promise </li></ul>Analyze sentiment and filter by concepts, hot words and media sets – among others. Complete comparative analysis by comparing positive, negative, neutral, or ambivalent sentiment
Leveraging Business Analytics <ul><li>Create an analytic glide path to your strategic operational and transactional data sources by integrating seamlessly IBM Cognos Consumer Insight with Cognos BI to drive actionable insights and optimize performance </li></ul><ul><li>Make actionable insights accessible by providing the users with an intuitive interface for easy drill-down into and reporting on the data, via a dashboard configured to or by the individual user groups </li></ul><ul><li>Support cause and effect analysis by integrating data from other data sources into the social network insights dashboard </li></ul>Seamless integration with the Cognos BI environment for more sophisticated analysis – providing the only solution on the market readily able to leverage a broader business analytics environment
IBM Cognos Consumer Insight - Retail <ul><li>Search billions blog of posts, 100,000 forums and discussion groups to measure the effectiveness of your social media campaign and the sentiment of consumer responses </li></ul><ul><li>• Gain insight into affinity relationships in your search of your campaign’s hot words to more agilely and precisely modify messaging for your campaigns </li></ul><ul><li>Expand your social media campaigns to incorporate other discussion contexts with analysis of evolving topics </li></ul><ul><li>Target other social media communities or communications channels </li></ul>Social Media Campaign Management Creating Relationships Merchandise Manager <ul><li>• Make call center staff more productive by quickly responding to sentiment of consumer blogs and posts, reducing call and email volume with timely analysis </li></ul><ul><li>• Anticipate customer reaction to products and services with affinity relationships and evolving topics associated with searchable hot words </li></ul><ul><li>• Improve customer lifetime, loyalty and positive word-of-mouth endorsements with rapid first-contact resolution </li></ul><ul><li>Capture customer comments with precise filtering and drill though </li></ul>Social Media Customer Service Management Improving Loyalty Customer Service <ul><li>Apply the analysis of key stakeholders and influencer sentiment to targeted public relations, investor relations or public affairs initiatives </li></ul><ul><li>• Inform senior management of improvements to reputation among stakeholders with consistent analytics using a standard sentiment dictionary </li></ul><ul><li>Examine affinity relationships to anticipate new opportunities to engage audiences around specific subject areas </li></ul><ul><li>Easily configure business rules, filters and analytics to more quickly and precisely measure and respond to new events </li></ul>Social Media Reputation Management Building Advocacy Public Relations
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. <ul><li>Needs ability to assess product interest among shoppers </li></ul><ul><li>Needs to evaluate shopping experience </li></ul><ul><li>Needs to assess promotions </li></ul><ul><li>Needs to monitor sentiment vs. product sales </li></ul><ul><li>IBM Cognos Consumer Insight </li></ul><ul><li>Highly scalable to search billions of blog posts and discussion boards </li></ul><ul><li>Easy to configure analysis to target consumer shoppers </li></ul><ul><li>Capacity to assess affinity of product features and intent to purchase – and to correlate with sales </li></ul>Merchandise Manager <ul><li>Social Media Analysis </li></ul><ul><li>Sentiment analysis of product category, sub-categories and specific features </li></ul><ul><li>Drill down filtering capabilities to individual posts by geo </li></ul><ul><li>Affinity relationship with products and purchasing intent over time, so promotional activities can be factored in </li></ul>Merchandise Manager
In order to make relevant changes to the program strategy or execution, they want to assess the impact of the company’s Corporate Social Responsibility campaign and whether it has improved the reputation of the company in communities it serves. <ul><li>Needs a baseline assessment of the company’s reputation among stakeholders in communities </li></ul><ul><li>Needs to assess shift in reputation after campaign </li></ul><ul><li>IBM Cognos Consumer Insight </li></ul><ul><li>Sentiment analysis of stakeholder perceptions of the company and its CSR campaign </li></ul><ul><li>Evolving topic analysis of other potential areas to incorporate into future campaigns </li></ul>Public Relations <ul><li>Social Media Analysis </li></ul><ul><li>Sentiment analysis of reputation on community-based blogs and discussion groups </li></ul><ul><li>Analysis of evolving topics and issues that CSR does and does not mitigate </li></ul>Public Relations
Wants to reduce call and email volumes for minor customer complaints by proactively engaging in issues and feedback online through the call center <ul><li>Needs to precisely determine the online source of complaints </li></ul><ul><li>Needs to determine the sentiment and filter down to specifics </li></ul><ul><li>Needs to evaluate and assess future complaints </li></ul><ul><li>Needs to make the parts of the business causing the dissatisfaction aware of the issues </li></ul><ul><li>IBM Cognos Consumer Insight </li></ul><ul><li>Sentiment analysis and filtering capability </li></ul><ul><li>Evolving topic analysis to determine potential issues </li></ul><ul><li>Analysis of the volume of negative and positive feedback, viewed in parallel with call center statistics </li></ul><ul><li>Consumer commentary to feedback to internal processes </li></ul>Customer Service <ul><li>Social Media Analysis </li></ul><ul><li>Sentiment analysis across specific consumer discussion boards and blogs </li></ul><ul><li>Filtering and targeted analysis of online sources of customer complaints </li></ul>Customer Service
Summary <ul><ul><li>Understand customer needs to target new offers and products more cost-effectively through different social media channels </li></ul></ul><ul><ul><li>Evaluate corporate reputation and make evidence-based messaging decisions that target the right stakeholders at the right time </li></ul></ul><ul><ul><li>Respond more quickly to customer requests and assess service-level effectiveness through social media to reduce costs and bolster productivity </li></ul></ul><ul><ul><li>Integrate the measurement of your social media strategy into your business and operational process seamless with Cognos BI </li></ul></ul>The only solution on the market readily able to leverage a broader business analytics environment with analytics that listen, measure and analyze social media performance to: