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Social Media Listening (BMA NJ) 2011-12-06
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Social Media Listening (BMA NJ) 2011-12-06

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Social media usage is exploding. All the cool kids are doing it. But how do you keep up with what people are saying about your brand? How do you know if they are positive or negative? Do you know how ...

Social media usage is exploding. All the cool kids are doing it. But how do you keep up with what people are saying about your brand? How do you know if they are positive or negative? Do you know how computers "listen" to social media? To answer those questions, and many more, you need a social media listening program.
You could start with a basic tool, such as Google Alerts, but many businesses find that they need more. At this event, see real-world case studies that show social listening in action.
Discover what tools are available today (and what their shortcomings are) and learn how social media listening tools are evolving. Find out how to keep up with all the conversation about your company and their industry in social media, so that you can respond to protect your reputation.

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    Social Media Listening (BMA NJ) 2011-12-06 Social Media Listening (BMA NJ) 2011-12-06 Presentation Transcript

    • Mike Moran Social Media Listening Business Marketing Association of NJ December, 2011 Mike Moranwww.mikemoran.com © 2011 Mike Moran Group LLC
    • Mike MoranMessage boards have long been complaint centers  Would you have spotted this comment?  Would someone know how to respond?  What if that is one my competitors?2 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranBut now all you need is a phone  Your customers look at reviews before going into your restaurant  Or writing a review while they wait for the check3 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranWhat are they saying about you? FORUMS/NEWSGROUPS MICROBLOGS VIDEO SHARING SOCIAL NETWORKS WIKIS The Conversation SOCIAL MEDIA NEWS PHOTO SHARING AGGREGATORS MAINSTREAM MEDIA BLOGS4 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranWhat are they seeing about you? You are frequently defined by third parties5 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranPublic data, private data, and what‟s in between  Public: Twitter, blogs, YouTube, most message boards  Private: Most Facebook, most LinkedIn, some message boards  In between: Reviews6 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranThe blueprint for social media engagement7 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranFord contains a potential disaster  A Ford fan site goes public with a Ford cease and desist order that goes viral on the Web  Scott Monty of Ford tweets “not good” when he first hears the story  Later, his legal team explains that the fan site was selling counterfeit Ford items and he tweets that  Within 24 hours, the story is dead, with Ford’s reputation intact8 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranGraco handles a recall online  Imagine the nightmare of baby strollers recalled for safety reasons  Graco jumped on Twitter and responded to every nervous tweet, requesting serial numbers and providing advice  Afterwards, as many stories praised Graco as slammed them9 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranDell goes from embarrassment to leadership  Then: Bloggers took Dell’s service to task with “Dell Hell”  Now: IdeaStorm builds new products from customer ideas10 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranComcast did the same thing  Comcast’s first exposure to social media came from a YouTube video of a service man sleeping on the customer’s couch  They later became one of the first companies to pioneer customer service on Twitter11 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranStarbucks also solicits ideas from customers  250,000 people voted one million times for 84,000 different ideas  48 ideas launched in Starbucks restaurants12 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranUSAA has a social voice of the member program Executives Functional Leaders Regional Leaders Real-time Trend Reports Analysis Unified Information Access Product Websites Social Media Surveys and Focus Groups • Product/Service Ratings & Reviews Customer Comments on: • Blogs • Customer Discussion Forums • Facebook Fan pages • Flickr • Customer Article/Blog Comments • Twitter13 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranDreamHost Web hosting „fessed up‟ its screw-up  They were honest, apologetic—no excuses  The reaction?  “I’m not going anywhere and this blog post is a big reason why.”  “Posts like this are the reason I love dreamhost and continue to pimp you guys out to all my friends.”  “I have to say that without this post, I’d be outta here.”  “It’s rare to find a company who is willing to own up to their mistakes and be honest with customers.”  “…I am rooting for you.”  “Without this post I would seriously consider moving.”14 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranHow will the companies of the future work?  Imagine a fictitious mid-size manufacturer and direct seller of telephone systems called telecom.com “telecom.com” that sells to consumers, SOHO, and larger businesses  Dorothy is the Marketing Executive for all telephone systems15 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranProblems for our heroes  Dorothy is Reputation Dashboard checking her Monitor Today’s Telecom Talk reputation Concepts Results from Reputation Scan dashboard 1 to 10 of 37 stories | Next> when she sees Telecom 2617 Review a bad story …Telecom’s new 2617 digital switch surpasses the competition…  From an Another Winner from Telecom important blog …2617 exceeded our benchmarks… Questionable Telecom TCO …causes us to question Telecom’s low TCO claims…16 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranDorothy checks the story  The story says Reputation Dashboard that anecdotal Monitor Today’s Telecom Talk reports indicate Concepts Questionable Telecom TCO that Telecom’s products are Have you heard Telecom’s claims of low TCO? We have costly to repair too, but we’ve also heard from two Telecom customers, which  It quotes two causes us to question Telecom’s low TCO claims. unnamed Telecom If you believe the customers we spoke with, Telecom customers products can be costly to Create Concept17 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranDorothy decides to see if more talk is happening  Are others Reputation Dashboard talking about Monitor Today’s Telecom Talk high costs? Concepts Questionable Telecom TCO  She highlights Have you heard Telecom’s claims of low TCO? We have “TCO” and too, but we’ve also heard from presses the two Telecom customers, which “Create causes us to question Telecom’s low TCO claims. TCO Concept” button If you believe the customers we spoke with, Telecom products can be costly to Create Concept18 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike Moran“TCO talk” comes in many flavors  She selects the Reputation Dashboard related phrases Monitor Concept Editor that she wants Concepts to include Current: More Phrases: Big repair bill TCO Big training costs  She presses Big training expenses the “Save Add additional Costly repairs phrases from Concept” list at right Costly training Expensive to fix button Expensive to repair More… Save Concept19 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranDorothy matches the concept with her products  She cares Reputation Dashboard about this talk Monitor Concept Editor only when it Concepts relates to her Current: Telecom Brand names own products TCO Executives Locations Product names  She chooses Add additional concepts from “Brand names” Competitors list at right Brand names and “Product Executives names” and Locations Product names runs it Save and Search20 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranDorothy sees what all the chatter is about  Dorothy sees Reputation Dashboard that some of Monitor Today’s Telecom Talk these same Concepts Results from Message Boards costly repair 1 to 10 of 17 phrases | Next> stories are expensive to fix (6) popping up on big repair bill (5) message high maintenance costs (3) boards Results from Product Reviews  And product 1 to 10 of 12 phrases | Next> reviews pricey service (2) expensive repair (1) …21 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranDo competitors have the same problems?  Dorothy checks Reputation Dashboard the same Monitor Concept Editor concepts found Concepts for competitive Current: Telecom Brand names names TCO Executives Locations Product names  She chooses Add additional “Brand names” concepts from Competitors list at right Brand names and “Product Executives names” and Locations Product names runs it Save and Search22 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranMany of the same phrases come up  Dorothy sees Reputation Dashboard that some of Monitor Today’s Telecom Talk these same Concepts Results from Message Boards costly repair 1 to 10 of 57 phrases | Next> stories are high maintenance costs (23) popping up for expensive to fix (19) competitors expensive repair (15)  In message Results from Product Reviews boards and in 1 to 10 of 62 phrases | Next> costly service (13) product expensive repair (11) reviews23 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranHow do today‟s companies listen to customers?  See what’s happening now with Twitter search  Use hashtags24 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranFigure out who to follow  Find your friends  Use search  Follow your favorite bloggers25 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranEngagement tools do simple listening  Choose people to follow  Enter simple keywords or hashtags for subjects  Only finds Twitter data, with possibly some blogs or Facebook  Hootsuite is a prime example  Tweetdeck being purchased by Twitter26 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranGoogle Alerts are more comprehensive, but slower  Google Alerts are free and easy, but not realtime  Set up a search and follow the e-mails or an RSS feed  Perfect for small businesses and unique search keywords27 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranBut other companies fail with search algorithms  “T-Mobile” will be found quite easily  “Sprint” not so much  “Verizon Wireless” is also not easy to isolate28 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranAlgorithmic listening also misses details [Negative for Treximet Cardio Side Effects] “I did a little research of my own, and was a bit alarmed to come upon a forum of migraine sufferers who had tried the drug and reported tightness in the chest and other indications of cardiac disturbance. I decided to leave the Treximet in the desk, untouched. “ Blog.lazyharpy.com, published on 18-02-2009 [Positive for Cardio Side Effects] “For some reason, today I picked it up. I did a quick web search for adverse side effects of Imitrex, which I have used for years, and felt surprised to see the very same descriptions as those accompanying the Treximet. Since Imitrex has never bothered me,..” Blog.lazyharpy.com, published on 18-02-2009• Do you care if the whole post is positive or negative? [Positive for Treximet Effectiveness] “…I popped a Treximet, slanted my shades, closed and locked my office door, and put• Or what the specifics are for my head down for fifteen minutes. When my alarm went off, my each issue? head was perfectly clear. That was four hours ago.” Blog.lazyharpy.com, published on 18-02-200929 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranBut Google Alerts treats all mentions the same Doesn’t separate Doesn’t aggregatepositive from neutral and volumes or show negative competitors Doesn’t differentiate by venue © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranWho are the current leaders in social listening? 2010 Forrester Wave31 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranListening tools are comprehensive and selective Many sources Boolean filters  Blogs  word AND word  Twitter  word AND NOT word  Facebook  word WITHIN 2 SENTENCES OF word  Message boards  …and many more32 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranSentiment analysis shows opinions Top Five Tech Pundits in Smart Phone Conversation Blog URL Net Sentiment Rank Traffic (toward Brand) Venue falls in the top 1% of highest Engadget A trafficked, most influential sites Venue falls in the top 1% of highest Gizmodo A trafficked, most influential sites Venue falls in the top 10% of high trafficked Electronista B sites Venue falls in the top 10% of high trafficked UberGizmo B sites Venue falls in the bottom 90% of trafficked Switched C sites33 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranAlgorithmic sentiment analysis misses sarcasm “Oh, the iPhone is a beautiful girl, no doubt.” The automated sentiment analysis failed to identify the sarcasm and coded the entry as positive for iPhone, while failing to understand the author was actually saying there was no value for the iPhone beneath its flashy exterior34 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranAlgorithmic sentiment analysis misses nuance  You know that these are “I waited on line for negative, but there is no my entire lunch hour word to tell the algorithm at my Wells Fargo branch today.”  These would be marked neutral by most algorithms “State Farm never told me I had no flood coverage.” “Amazon wouldn‟t refund my money.”35 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranAlgorithmic sentiment misses context  The same words mean different things  An “unpredictable” movie is good, but “unpredictable” food quality, not so much  We like “small” cell phones but not “small” hotel rooms  “Faded” jeans are good, but not “faded” photos  “Frozen” computers are bad, but “frozen” margaritas are good36 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranThe problem: Algorithms alone fall short  70% accuracy on relevance  70% accuracy on sentiment  70% times 70% = 49% “Oh, the iPhone is a beautiful girl, no doubt.” The best algorithms seem to fail half the time37 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranHuman analysts can correct the algorithms  If you need the data to be right, you need people to check the machines  The machines collect the data and make the easy calls, and they suggest the answers for the tough ones, but humans make the final decision38 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranAnd machines can learn from the humans  Machine learning algorithms can detect patterns where human analysts corrected the machines  That feedback can then be used to update the computer algorithms so the computers are more accurate on the first try  But…you need accurate training data—sometimes lots of training data39 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranComputers and human analysis make data smarter40 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranVisualizations make the data understandable41 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranHow do conversations relate?42 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranInfluencers of the conversation can be scored Reach » Site traffic • Influencers vary by » Followers/Friends conversation » Number of social media venues • Quantitative scoring Engagement Authority can reveal the people » # of relevant » Online rank who make the messages » Number of back- » Frequency of links conversation conversation » Respect or standing within community • Human analysts can Connectivity » Bloggers blogroll provide qualitative » Cross-topic scoring, also connectivity » Influence flow43 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranInfluencers have relationships with each other44 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranSome research shows social media is influential Brand Knowledge Shift by Touchpoint 0.6 Brand A Touchpoint Competitor Touchpoint 0.4 Average Shift: 0.32 0.2 0.0 Coupon Corporate Website Purchase In-Store Using/Eating Social Gathering TV Ad Social Media Online Ad -0.245 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranThe same information is needed organization-wide46 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranAnd across geography North America Market PR Research Enterprise Listening Asia Solution Europe + consistent methodology + consistent data + custom configuration Corporate Customer Comm. Service South America47 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranWorkflow distributes insights48 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranWorkflow also allows engagement49 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike Moran Next: Listening and engagement come together FORUMS/NEWSGROUPS VIDEO SHARING MICROBLOGS SOCIAL NETWORKS WIKIS The Conversation SOCIAL MEDIA NEWS AGGREGATORSPHOTO SHARING BLOGS MAINSTREAM MEDIA 50 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranNext: Listen to non-text objects  Audio  Video  Images51 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranNext: Cross national languages  Those who need to know can’t speak every language  Machine translation crosses the gap  Automation will be augmented with human beings at first52 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranNext: Calculate return on investment  How many people who viewed the message eventually bought something?  Of the people who saw this message, are they more or less likely to buy from us?53 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranNext: Predictive modeling Sales Brand Tracking Conversion/Analytics Traffic Conversation Mining54 © 2010 Mike Moran © 2011 Mike Moran Group LLC
    • Mike MoranRead all about it  “Buy this book, read it, and then The read it again.” search --Chris Sherman, Search Engine Watch marketing  Updated at each printing best seller Miami Herald: A Top Biz Book of 2007  “Great book.” --Robert Scoble, Scoblizer blog For more information about the  “Act now and read books, and for the free Biznology it.” --Bryan Eisenberg, Author of #1 best newsletter and blog: seller Waiting for Your Cat to Bark? www.mikemoran.com55 © 2010 Mike Moran © 2011 Mike Moran Group LLC