Social Media vs Market Research: Influence, Sentiment, and Patient Journey Optimization

1,528 views
1,391 views

Published on

Here is a POV regarding the state of Social Media analysis and how it compares/ contrasts to that of more traditional Market Research. This was done in the context of Healthcare / Pharma.

Published in: Business, News & Politics
1 Comment
1 Like
Statistics
Notes
  • This was done with Pharma in mind, but the consumer journey is about the same...
       Reply 
    Are you sure you want to  Yes  No
    Your message goes here
No Downloads
Views
Total views
1,528
On SlideShare
0
From Embeds
0
Number of Embeds
6
Actions
Shares
0
Downloads
40
Comments
1
Likes
1
Embeds 0
No embeds

No notes for slide

Social Media vs Market Research: Influence, Sentiment, and Patient Journey Optimization

  1. 1. The Social Media Business Process – SM vs. MR Social Media Listening Outputs Market Research Outputs Conversation Pre Qualified / Sorted Cloud Panel or Focus Group Brand / Indication Targeted Survey / Share of Voice / Interview Conversation 60% 40% 20% Psychographics Influencer Ethnographies Personas Attitudinal Insights• On-Topic Post Demographics• Author Reputation Relative• Author Reach Authority• Platform Authority Social Media Listening can serve as a loose proxy for more traditional market• Platform Reach research in that the attitudinal insights derived from observed conversations can• Content and Context Sphere of be developed in near real-time – as associated to MarCom events or in the absenceResonance with the Influence / Reach of them. While the granularity as expressed in the outputs from market research areCommunity / Audience a level or depth of analysis deeper than that of Social Media – we can derive similar insights from Social Media based upon the same qualitative research methodologies – it’s just that the digital medium is inherently different and the analysis required is exhaustive.
  2. 2. Quantitative Methods vs. Qualitative Methods Social Media Listening is a blend of both Quantitative and Qualitative research methodologies. As the medium is dependent upon sorting, filtering, and segmenting the digital space and distributed / syndicated content (volume as well as significant spam in many cases) - Quantitative methodologies are the backbone. It’s an exercise in separating the signal from the noise to identify authoritative, on-topic conversations, the associated influencers, and the various indications surrounding sentiment. Traditional Market Research is also an exercise in both Qual and Quant, but with an emphasis on the more qualitative approach and output – with pre- defined / pre-vetted (targeted) questions and the applicable (targeted) results. These results help to inform Brands / MarCom regarding the attitudinal inclinations of a target audience in association to a set criteria, set of circumstances, or product/brand attributes. Part of the target audience vetting process allows the researcher to set or obtain demographic information, psychographic information, ethnographic information, attitudinal indications, etc.
  3. 3. The State of Influence 2010-2011, Part I Influence has many meanings in Social Media measurement circles, but the basic factors of influence are: 1. A timely, relevant, resonant on-topic post with appropriate strategic keywords as associated to the Brand, Product, Initiative, Campaign, etc. 2. Content and contextual relevance and resonance within: • A particular community • A wider audience (potential viral effect) 3. The relative authority of the on-topic post author: • Reputation / Trust within the community • Reputation / Trust within wider circles in traditional and/or social media • Reputation / Trust within a group of peers • Reputation / Trust within an area of expertise (SME or subject matter expertise). 4. The relative authority of the particular platform or outlet from one or more of these various perspectives: • Syndication / Distribution / Reach • Platform / Outlet Popularity • Semantic nature of platform technology • Platform / Outlet Reputation in industry, market, community etc.
  4. 4. The State of Influence 2010-2011, Part II There are many characteristics and factors that create Influence in Social as well as Traditional Media. The problem with creating a standardized system for Influencer Identification is that any and all standardization systems will be obsolete from one analysis period to the next or worse, be completely arbitrary or subjective. This is the nature of digital influence as represented by the infamous and often foolishly sought-after or aspired-to viral effect. I cringe at the words, “Can you make my campaign Go Viral?” Influence can happen on a granular, post-by-post basis – in the absence of many of the characteristic “authority factors” as represented on the previous slide. We need only look backward a few years to see that an intrepid blogger on a Wordpress platform could quite easily “hijack” a brand strictly on the basis of platform authority due to a search engine friendly, semantic structure and the coincidental, optimized use (SEO) of strategic keywords. Influence or Influencer Identification is therefore an exercise in moment-by- moment (period-by-period) analyses by the individual analysts qualified to make the proper evaluations. Influence, much like Sentiment resists a standardized, mechanical, automated approach to assessment. And Influence, much like Sentiment, requires a rigorous, qualitative analysis on a regular basis.
  5. 5. Sentiment Analysis in 2010/2011 Sentiment Analysis has been approached in the various social media measurement and monitoring/listening tools based upon a pre-defined set of keywords selected for their attitudinal indications regarding sentiment. With the advancement of Boolean and nearness operators in social media sentiment analyses – in support of the Net Promoter Score (NPS) methodology – sentiment is approaching a nominal degree of accuracy. Traditional market research approaches sentiment analysis in the way that gives a much higher degree of accuracy according to current capabilities. In traditional market research, a focus group (n=xxx) is surveyed for attitudinal indications (sentiment) from a mainly qualitative perspective. In social media, the same Best Practice can be followed. We can agree upon a reasonable sample (n=xxx), and perform a qualitative analysis in order to determine accurate sentiment as applied in an index/scale. The effort is the same as in traditional market research and requires a skilled analyst to comb-through the conversations and make the appropriate evaluations.
  6. 6. Social Media Actionable vs. Anecdotal Insights Actionable Insights Engagement Non-EngagementRegulatory Issues / Restrictions Influence the Inform Brand Influencer Lexicon Leverage Influencer Inform MarCom Limited Regulatory Issues / Restrictions Platform Strategy & Tactics Inform Creative Limited Regulatory Concepting Issues / Restrictions Editorial Process & Calendar Information without action is simply overhead (anecdotal)
  7. 7. Patient Journey Optimization, Part I Stage in Patient Journey Example Terminology / Keyword Phrasing Awareness Opportunity: hyperactivity, impulsive behavior, Symptoms Language short attention span Awareness Opportunity: adhd, attention deficit, adhd Interest / Diagnosis / Disease Info treatment / medication Engagement Opportunity: concerta, concirta, concerta side New Rx / Treatment / Efficacy effects, concerta trial Engagement Opportunity: concerta dosage, taking concerta,Compliance / Adherence / Retention concerta newsletterSource: “Five Trends in Digital Healthcare in 2010” by Amy Cowan, Head of Healthcare | Google
  8. 8. Patient Journey Optimization, Part IIDrivers / Assets Landing Pages / Assets Create Composite Reports to Develop Full Traffic /Appropriately Targeted Referral Attribution and Appropriately Segmented Creative, Content, or Insight Content or Instance ofMessaging (e.g. Display, Conversion (Brand Web site, Search, or Content Microsite, Unbranded Site, etc.) % CTR / Awareness Conversion Awareness % CTR / FICO DB / Business Web Analytics / Education Objects / eCRM DB Omniture SiteCatalyst Conversion Education % CTR / Rx Conversion Rx % CTR / Adherence Conversion AdherenceLeverage Campaign ID Display & Search Social Media Listening / According to Journey Stage Methodology (Instrumented URLs) Trafficking / DART / Radian6 / Alterian SM2 Disposition (%) – where does DFA / CheckM8 / Atlas / MyBuzzmetrics / the Brand need to reinforce? and/or T-Code SERMO / etc. By “Front-Loading” or Segmenting the Brand creative and content and appropriately tracking the referrals or engagement instances (e.g. clicks), we can develop the full attribution model for campaigns and content in order to begin Search / SEO Market Syndicated to surgically apply SEM, SEO, SMO, Display, CRM, Tools Research Research Creative Concepting, Editorial, etc.

×