Lecture Jan 25 2010
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Lecture Jan 25 2010

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Tom Malkin will be joining us with a presentation of his own. But, we’ll still cover some additional info.

Tom Malkin will be joining us with a presentation of his own. But, we’ll still cover some additional info.

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Lecture Jan 25 2010 Lecture Jan 25 2010 Presentation Transcript

  • Insights and opportunities in social media
    Class 4
  • Questions from Last Week and/or Reading?
  • Listening in the social graph:Thomas Malkin, GeeYee
    View slide
  • View slide
  • Assignment 1 Review
    ( + )
    Good breadth of topics and mediums
    Showed a good grasp of the space
    All were interesting and helped me learn a few things, too
    Analyses were thoughtful and I appreciated your takes on what could have been done differently
    ( - )
    • Details were lacking a bit
    • Problem + Solution = METRICS!
  • Picking up where we left off
  • Social Dilemmas
    Cases where the best solution for an individual is counter and detrimental to the best overall solution to a group.
  • Prisoner’s Dilemma
    Iterated Prisoner’s Dilemma
  • Tit for Tat
    1. Always Cooperate on the First Go
    2. Follow What Your Partner Did in the Last Round
  • Ecosystems
    Competitors = HAWKS
    Cooperators = DOVES
  • Implicationsusingsocial dilemmas
    1. Look long-term.
    2. Cooperation works longer in the long-term
    3. No need to be a doormat.
  • Questions?
  • Social Media Monitoring
  • Characteristics of Social Media Research
    Observational
    Participants are unaware of research presence
    Direct consumer language
    Consumers use their own slang and descriptive, colorful language
    Unfiltered and Un-moderated
    No survey moderator interrupts the conversation
    Real emotions, content posted without a lot of restraints
    Real-time
    Commentary occurs as soon as an event unfolds
    Data accessible on short notice
  • The value of social monitoring is its ability to collect and aggregate naturally occurring consumer sentiment towards a brand in real time
    Captures the authentic voice of the customer
    Reveals what you don’t know – but should
    Provides timely insights into the wants needs and motivations of the audience
    Delivers results at the speed of the market
    Offers both qualitative & quantitative potential
    Less expensive than traditional methods
    Can complement focus groups and surveys
  • Comparing Social Media research with traditional approaches
  • There is little – if any – sacrifice in research validity and application
    Marries qualitative and quantitative data for robustness, generalizability, and depth of information.
    Can allow for demographic segmentation - - to a degree.
    Ongoing monitoring allows for trending information, campaign correlation, and brand tracking.
    Inclusion of competitive monitoring creates context for brand measures and conversations.
    Ongoing monitoring allows for rapid adjustment to marketing strategies
  • Where Social Media Fits
    Strategic Planning
    • Category dynamics
    • Questions you didn’t know you should ask
    Positioning
    • Key consumer motivations
    • Role of brand/product in their life
    Product Launch
    • Real-time reaction to product, marketing
    • Identify barriers, resonance of messaging
  • Who Uses Social Media Insights
    Source: Aberdeen Group, January 2008
  • The process
    20
    • We create relevant topics.
    • The tool then crawls the internet (blogs, forums, social networks, discussion boards, product review sites, etc.) locating postings based upon the topics.
    • The noise is then filtered, volume/influence measured and sentiment determined.
    • We then layer this information into other data (e.g., search, segmentation analysis, etc.) to gain insights and optimize.
    • Recommendations are made as to where and whom to engage in dialogue.
    How it works
    21
  • Have I been successful?
    What is the summary?
    What have I been doing?
    How efficient am I?
    What’s still open/left to do?
    Measuring Impact (when we monitor)
  • A distinction
    23
  • Another distinction
    24
  • Getting started in monitoring
    Determine your goals: There may be many and they may seem disparate, but could be covered with a single solution.
    Determine the process that best suits your organization.
    Review 3-4 top leaders. There are tons of tools, so narrow it down.
    They all collect.
    They all rate and sort.
    Some do cool things around rating and sorting.
    All should have reporting.
    None of them (really) do insights and actions
    Do a trial.
    25
  • Advocates and influencers: Some Exercises