Crimson Hexagon - Social + Analytics: Does Social Media Opinion Matter?

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FutureM 2013 session with Crimson Hexagon

Moderator:
Elizabeth Breese
Senior Content and Digital Marketing Strategist, Crimson Hexagon

Speakers:
Mitch Brooks
Senior Research Strategist, Crimson Hexagon

Richard Ng
Vice President, Insights and Intelligence, Edelman Digital

Sean Rusinko
SVP Digital Strategy, Verndale

Guen Yi
VP, Analytics Insights, The Walt Disney Company


Social media metrics are at the leading edge of marketing and market research practice. However, it’s important to distill the useful from the trendy. This panel, lead by Crimson Hexagon, brings together leading marketers to speak honestly about the merits of social data, and to discuss situations when traditional metrics and research should not be discarded in favor of social media analysis. Panelists will dig into which traditional metrics are best, and explore the ideal moments to look to social media opinion to guide marketing and business strategy moving forward.

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  • Social allows us to understand what drives/motivates users Tailor content based on social channels that are bringing them into a website (various messaging for Twitter/Pinterest/Facebook users)Each platform provides insights into key metrics that can be used to enhance the user journey
  • Extract data into a data cube to leverage a data cube to use BI – what can be pulled from each social platformPulls data from CRM, ERP into the data cube and provide business intelligence and data visualization
  • Crimson Hexagon - Social + Analytics: Does Social Media Opinion Matter?

    1. 1. SESSION PARTNER SOCIAL + ANALYTICS Does Social Media Opinion Matter? VISIONARY SPONSORS INNOVATOR SPONSORS TA L K A B O U T U S ! # F U T U R E M @ C R I M S O N H E X A G O N
    2. 2. Sean Rusinko  SVP Digital Strategy, Verndale IDENTIFY Social media allows us to identify who our client’s consumer base is, and listening to them allows us to understand what marketing is resonating with that audience segment. PERSONALIZE Because social provides insights into what drives and motivates users, we use that information to create a unique, personalized, and optimized website experience for users. #FUTUREM @VERNDALETWEETS
    3. 3. Mitch Brooks  Senior Research Strategist, Crimson Hexagon RESEARCH PRODUCT MANAGEMENT CLIENT SERVICES #FUTUREM • Create and improve machine-learning algorithms • Build proof-of-concept prototypes for internal stakeholders and customers • Articulate technical positioning to the market • Explain principles behind features • Developing new ways to analyze and visualize unstructured data from earned and owned media @MITCHSBROOKS
    4. 4. Guen Yi  Former VP Analytics Insights, The Walt Disney Company  Head of Analytics and Planning, Zulily Utilize social media analysis for: • Insights and social sentiment immediately after an event and over time • What’s resonating with consumers and what isn’t – to support marketing and media team • Who the consumers are • Comparisons to competition #FUTUREM @CRIMSONHEXAGON
    5. 5. Richard Ng  VP, Insights and Analytics, Edelman Digital The most common applications of Social Media Analysis at Edelman are: • • • • • To support strategy planning To inform paid media buying To optimize content To assess levels of media coverage To gauge, where possible, consumer response to client brands, products, or services #FUTUREM @ZENMASTERCHI
    6. 6. THE PROBLEM OF QUALITY RED-YELLOW-GREEN Sentiment – positive, negative, neutral – is often an inaccurate reporting mechanism and usually very basic. Social sentiment often requires further break down and analysis to get an accurate sentiment reading. Analysis demands human involvement to get accurate results specific to your industry. #FUTUREM @CRIMSONHEXAGON
    7. 7. Teaching to the Test The social science principle of Campbell's law is sometimes used to point out the negative consequences of high-stakes testing in U.S. classrooms: "The more any quantitative social indicator (or even some qualitative indicator) is used for social decision-making, the more subject it will be to corruption pressures and the more apt it will be to distort and corrupt the social processes it is intended to monitor.” When do social marketing metrics create the wrong incentives? How is this best avoided? #FUTUREM @CRIMSONHEXAGON
    8. 8. THE PROBLEM OF DISPARATE SYSTEMS INTEGRATION Social media monitoring platforms fail to integrate with key backend systems creating a disconnect between data transfer and share. Because there is no fluid integration, we are missing pieces of the puzzle. BENCHMARKING Challenge of assessing successful social media engagement or campaign when social data is not integrated with other sales, marketing, and advertising data and metrics. Difficulty of comparing year-to-year due to the growth of social media volume overall and because of the incremental introduction of new channels. #FUTUREM @CRIMSONHEXAGON
    9. 9. THE FUTURE: HOLISTIC VIEW • Analyze across channels • Integrate social media data with sales and marketing data and databases INCORPORATION There is a huge opportunity to incorporate social analytics data into a datacube (CXM/CMS/CRM/ERP/etc.) to allow businesses and organizations to have one view of the customer. WHAT DO WE SEEK TO INTEGRATE? Social Channels, Website, CRM, Sales, Paid Media, and/or Customer Service #FUTUREM @CRIMSONHEXAGON
    10. 10. Opportunities – Richard Ng Key opportunity areas: • • • • • • Mapping against benchmark opinion and behavioural data Focusing analysis on audience behaviour and segmentation Developing audience profiles based on interaction data Reducing focus on dashboards that sum metrics vs competitors More Sophisticated Math Stronger Frameworks #FUTUREM @CRIMSONHEXAGON
    11. 11. Opportunities – Sean Rusinko USERS TECHNOLOGY PLATFORMS Customer Experience Management (CXM) Social Listening Platforms CHANNELS & ASSETS #FUTUREM @VERNDALETWEETS
    12. 12. THE FUTURE: INDUSTRY PARTNERSHIPS TO ADVANCE SOCIAL MEDIA ANALYTICS ENTERPRISE + AGENCY + TECHNOLOGY #FUTUREM @CRIMSONHEXAGON

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