Ready, Set, Launch! Using Social Media to Improve Product and Service Launches

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According to respondents to the Q4 2013 Social Listening survey, 8 out of 10 marketers had used social media to promote and launch new products and services. But these efforts are largely limited to …

According to respondents to the Q4 2013 Social Listening survey, 8 out of 10 marketers had used social media to promote and launch new products and services. But these efforts are largely limited to two main activities: brand promotion and social listening. With so much money, time, and effort leading up to a launch social media can and should be used for more strategic activities.

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  • 1. Copyright ©2014 Visible Technologies, Inc. All rights reserved.1 Ready, Set, Launch Using Social Media to Improve Product and Service Launches With Special Guest
  • 2. Copyright ©2014 Visible Technologies, Inc. All rights reserved.2 Agenda 1. Benchmark Stats on Social Insights 2. What do top performers do with social data? 3. From Launch to Lift-Off: The Role of Social • How should it be used? • How can it save time? • How can it cut costs and free budget for other activities? • What skills are required? 4. Launch Case Study Discussion
  • 3. Copyright ©2014 Visible Technologies, Inc. All rights reserved.3 Our Presenters Ian Michiels, Principal & Managing Director, Gleanster Research Prior to joining Gleanster, Ian held leadership roles at Marketsphere and Aberdeen. He is a thought leader in the subjects of marketing, social media, and the application of technology to solve core business problems. Becca Ramble - Director of Account Management, Visible Becca currently leads Visible’s account management practice. The team works with Visible clients to define social media analytic objectives and work in the Visible platform to meet these needs.
  • 4. Copyright ©2014 Visible Technologies, Inc. All rights reserved.4 Audience Poll Are you using social media monitoring tools today? • Yes, for >3 years • Yes, for 1-3 years • Yes, for < 1 year • No, planning on investing in them • No, still researching
  • 5. TODAY’S STATS Total survey responses: 461 PERFORMANCE BASED ALGORITHM All Respondents 2013 Social Relationship Management Survey 2014 Social Listening Survey Top Performers: Respondents that achieved Top Quartile performance in key KPI’s Everyone Else Gleanster Benchmark Stats
  • 6. Stats fromTop Performers * Q4 2013 Social Relationship Management Survey, n=100 Brand Marketers, Revenue >$50M
  • 7. Stats fromTop Performers * Q4 2013 Social Relationship Management Survey, n=100 Brand Marketers, Revenue >$50M
  • 8. The Perception Gap
  • 9. Are you maximizing your return on social listening efforts? Product Development Marketing Sales Service PROMOTION SEGMENTATION & TARGETING PRICING BRAND MONITORING REACH STRATEGY SERVICE & SUPPORT SENTIMENT PROPENSITY TO RECOMMEND LOYALTY NEW CUSTOMER ACQUISITION CUSTOMER RETENTION CROSS-SELLING UP-SELLING PROMOTION CUSTOMER COMMUNITIES MESSAGING
  • 10. Are you maximizing your return on social listening efforts? Product Development Marketing Sales Service PROMOTION SEGMENTATION & TARGETING PRICING BRAND MONITORING ENGAGE INFLUENCERS STRATEGY SERVICE & SUPPORT SENTIMENT PROPENSITY TO RECOMMEND LOYALTY NEW CUSTOMER ACQUISITION CUSTOMER RETENTION CROSS-SELLING UP-SELLING PROMOTION CUSTOMER COMMUNITIES MESSAGING NEW FEATURES, EXISTING PRODUCT NEW PRODUCT FOCUS GROUPS
  • 11. What we actually see fromTop Performers Product Development Marketing Sales Service PROMOTION SEGMENTATION & TARGETING PRICING BRAND MONITORING ENGAGE INFLUENCERS STRATEGY SERVICE & SUPPORT SENTIMENT PROPENSITY TO RECOMMEND LOYALTY NEW CUSTOMER ACQUISITION CUSTOMER RETENTION CROSS-SELLING UP-SELLING CUSTOMER COMMUNITIES MESSAGING NEW FEATURES, EXISTING PRODUCT NEW PRODUCT FOCUS GROUPS
  • 12. Why is that? Social data Social data Social channels Customer data Existing content Social optimized content Insights derived Expertise to turn insights into strategy THAT YOU CAN CONTROL
  • 13. What can marketers do today to get more out of social listening?
  • 14. How is social media typically used? 80% 15%5% Yes 21% 38% 48% 50% 52% 57% 69% 71% 0% 25% 50% 75% R&D Customer Expansion Customer Retention New Customer… Product Launch Sales Growth-… Social Listening Brand Awareness All Respondents * Q4 2013 Social Relationship Management Survey, n=100 Brand Marketers, Revenue >$50M Social is an “active marketing channel” How are you using social media?
  • 15. Poll Have you used social media in a new product launch? Yes, to promote the launch Yes, to prepare for the launch Yes, to influence the product development Yes, to identify target audiences No, plan to No, no plans to
  • 16. Benchmarking use of social in product launches? Have you used social media for a product launch? In what capacity? 8 out of 10,YES 89% - BRAND PROMOTION 97% - BRAND MONITORING * Q4 2013 Social Listening Survey, n=247
  • 17. Other Applications ofSocial Listening 21% 38% 48% 50% 52% 57% 69% 71% 0% 25% 50% 75% R&D Customer… Customer… New… Product Launch Sales… Social Listening Brand… All Respondents One of the biggest investments / initiatives marketers will make. • Strategic Impact to Organization • Multi-functional Impact • Supply-chain Ramifications • External Partner Alignment • Etc.
  • 18. What goes into a product launch? PRICING MESSAGING AUDIENCE TARGETING FOCUS GROUPS AGENCY GEOGRAPHY PLANNING
  • 19. Crossing the Social Listening Chasm Reactive Social Listening • What happened when… • Who said what… • That was a great quote, we should promote it… • She looks like an influencer…
  • 20. Crossing the Social Listening Chasm Reactive Social Listening • What happened when… • Who said what… • That was a great quote, we should promote it… • She looks like an influencer… Proactive / Strategic Social Listening • Validation of assumptions • Testing hypothesis • Analysis –Who Actually Buys • How do they talk about… IMMEDIATE ROI
  • 21. Copyright ©2014 Visible Technologies, Inc. All rights reserved.21 Case Study Discussion
  • 22. Copyright ©2014 Visible Technologies, Inc. All rights reserved.22 Market Research Large Beverage Company Copyright ©2013 Visible Technologies, Inc. All Rights Reserved.22 Challenge Solution Results Explore new product opportunities in the Fruit and Vegetable juice blend market and launch a new product • Analyze the market in a brand agnostic way to discover consumer perceptions • Cross validation of learnings in traditional and social-based research • Measure the competitive landscape such asV8 fusion to inform positioning and GTM strategy The company mined perceptions beyond brand directed conversations which helped with the launch of the their new fruit and vegetable blend product line
  • 23. Pricing  Test product pricing in regional locations and monitor online buzz or reviews before a national rollout.  Monitor competitive products, look for clues about how customers feel about pricing.  Possibly opportunities to re-think pricing for competitive reasons. Using social listening to validate pricing or research…
  • 24. Copyright ©2014 Visible Technologies, Inc. All rights reserved.24 New Product Launch Large Technology Manufacturer Copyright ©2013 Visible Technologies, Inc. All Rights Reserved.24 Challenge Solution Results Monitor reactions to the launch of the B2B product line before, during and after launch to track response to product and campaign • UseVisible Intelligence to identify, filter and make sense out of high volume of chatter across multiple social channels • Gather perceptions about product and competitors • Auto-generate and export reports to share with other product and marketing teams High quality reports praised and generated interest in other departments. Initial pilot social team grew to include corporate communication, advertising, web and other business groups “We knew there would be a lot of chatter happening around the product, and we looked to Visible Intelligence to help us both monitor and understand it.” -Jason, Senior Advertising Manager
  • 25. Targeting  Social listening tools aren’t just for social, you can monitor virtually any digital channel, including location based channels.  Determine the propensity for early stage adoption based on other social attributes of a target audience. Using social listening to determine regional rollout…
  • 26. Copyright ©2014 Visible Technologies, Inc. All rights reserved.26 Marketing Optimization Lawn & Garden Product Manufacturer Copyright ©2013 Visible Technologies, Inc. All Rights Reserved.26 Challenge Solution Results Identify optimal geographic distribution for a new garden product launch • UsedVisible Intelligence to identify where individuals were experiencing issues with deer damaging their lawns and gardens • Geo-location capability helped them identify markets for product launch as well as map specific retail locations for product distribution The new garden product launch was considered very successful. They had the right product at the right geo locations to address customer needs
  • 27. Messaging  Focus groups are expensive and social can be an immediate source of insight from potential buyers.  Lower costs and gather insights faster.Win. Using social listening to determine messaging… App used language in messaging that offended smokers and wasn’t sensitive to the challenges of quitting. Social listening testing in advance of the rollout influenced changes.
  • 28. Promotion  Focus groups are expensive - social offers a highly targeted and real-time source of insight from potential buyers. Using social for promotion… Social Only Launch • 90x more attendees than traditional launches. • 40 million impressions • Started with a list of 90 buzzwords to monitor 1 month before launch CISCO - ASR
  • 29. Promotion  Focus groups are expensive - social offers a highly targeted and real-time source of insight from potential buyers. Using social listening to monitor promotion…  Save time  Cut Costs  Interactive and real-time digital engagement  Identify influencers / bloggers  Monitor results
  • 30. Copyright ©2014 Visible Technologies, Inc. All rights reserved.30 Complimentary Deep Dive Research Report
  • 31. Copyright ©2014 Visible Technologies, Inc. All rights reserved.31 More Social Listening Resources Gleanster.com
  • 32. Copyright ©2014 Visible Technologies, Inc. All rights reserved.32 Audience Q&A
  • 33. Copyright ©2014 Visible Technologies, Inc. All rights reserved.33 Results that Deliver Business Impact DataYou CanTrust Industry Experts Leading Technology + Deeper Insights The Visible Difference
  • 34. Copyright ©2014 Visible Technologies, Inc. All rights reserved.34 Next Steps • Have a question comment about something in this webcast? • Ian Michiels ian.michiels@gleanster.com • Becca Ramble rramble@visibletechnologies.com • Rich Miller rmiller@visibletechnologies.com • To discuss a demo or more information, contact us at info@visibletechnologies.com, @visible on Twitter, or “Demo Request“ on our website • Check www.visibletechnologies.com for recordings of previous webcasts, Intelligence Reports, and more.
  • 35. Copyright ©2014 Visible Technologies, Inc. All rights reserved.35 Appendix
  • 36. Copyright ©2014 Visible Technologies, Inc. All rights reserved.36 Product Development • Crowd-source customer desires narrow down product features or specs. • Use social listening to qualify trends and identify influencers to engage for promotion Using social listening to influence specs…