How to Create a Proprietary Measure Using Social Media Data
1. #RNWebinars
@LoveStats
How to Create a Proprietary
Measure Using Social Media Data
Annie Pettit
VP Research Standards, Research Now
Chief Research Officer, Conversition
annie@conversition.com
Social media research by researchers, for researchers
#RNWebinars
@LoveStats
2. #RNWebinars
@LoveStats
• A single number per brand
• Compare one brand to other brands
• Unique to your company
• Gives clients a reason to keep coming
back to you
What is a proprietary measure?
2
3. #RNWebinars
@LoveStats
American Customer Satisfaction Index
3
6. #RNWebinars
@LoveStats
Social Media Mentions (Sample Sizes)
6
0
10000
20000
30000
40000
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Dollarama
Future
Shop
JCPenney
Meijer
Macy's
7. #RNWebinars
@LoveStats
Social Media Sentiment (Box Scores)
7
25%
45%
65%
85%
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Dollarama
Future
Shop
JCPenney
Meijer
Macy's
9. #RNWebinars
@LoveStats
Need a better way to compare how
______ are delivering on _____.
Retailers/Experience
Not pricing, not selection….
Start With A Theory
9
11. #RNWebinars
@LoveStats
• Variables must have sufficient data
• Can’t
build
a
model
based
on
one
person
• Variables must be relevant to all retailers
• Grocery
stores
don’t
have
change
rooms
• Clothing
stores
don’t
have
to
worry
about
employees
washing
their
hands
• Variables must… vary!
• If
a
category
is
too
Nght,
it
is
possible
for
all
the
brands
to
have
the
same
score
• E.g.,
all
24
hour
shops
have
great
hours
Outline the Model
11
12. #RNWebinars
@LoveStats
• Statistical theory
• Regression
analysis,
factor
analysis,
etc,
suggest
6
specific
variables
and
their
weights
• Brain theory
• Your
category
experience
indicates
7
specific
variables
and
their
weights
Apply Theory to the Model
12
14. #RNWebinars
@LoveStats
Raw Scores
14
0
4000
8000
12000
16000
Sephora
Nordstrom
Barnes
&
Noble
Bloomingdales
Marks
&
Spencer
Office
Depot
American
Eagle
Oucider
Lowes
Dillards
Hertz
Canadian
Tire
BMO
Abercrombie
Toys
R
Us
Shoppers
Drug
Mart
Meijer
Home
Depot
AVERAGE
Urban
Ouciders
Hollister
JCPenney
Sears
IKEA
Macy's
Future
Shop
Kmart
HSBC
Supervalu
OfficeMax
Walgreens
BAC
CVS
Target
Safeway
7eleven
TDCT
Walmart
McDonalds
15. #RNWebinars
@LoveStats
Validate the Results
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• Does
my
gut
say
these
are
indeed
the
worst
retailer
experiences?
• Target
• Safeway
• 7eleven
• TDCT
• Walmart
• McDonalds
• Does
my
gut
say
these
are
indeed
the
best
retailer
experiences?
• Sephora
• Nordstrom
• Barnes
&
Noble
• Bloomingdales
• Marks
&
Spencer
• Office
Depot
16. #RNWebinars
@LoveStats
Rinse and Repeat
16
1.
Choose
variables
2.
Choose
coefficients
3.
Apply
the
model
4.
Validate
the
results
5.
Con>nue
0.
Start
17. #RNWebinars
@LoveStats
0 to 100 Scale
17
0
25
50
75
100
BEST
Sephora
Nordstrom
Barnes
&
Noble
Bloomingdales
Marks
&
Spencer
Office
Depot
American
Eagle
Oucider
Lowes
Dillards
Hertz
Canadian
Tire
BMO
Abercrombie
Toys
R
Us
Shoppers
Drug
Mart
Meijer
Home
Depot
AVERAGE
Urban
Ouciders
Hollister
JCPenney
Sears
IKEA
Macy's
Future
Shop
Kmart
HSBC
Supervalu
OfficeMax
Walgreens
BAC
CVS
Target
Safeway
7eleven
TDCT
Walmart
McDonalds
WORST
18. #RNWebinars
@LoveStats
0 to 10 Scale
18
0
2
4
6
8
10
BEST
Sephora
Nordstrom
Barnes
&
Noble
Bloomingdales
Marks
&
Spencer
Office
Depot
American
Eagle
Oucider
Lowes
Dillards
Hertz
Canadian
Tire
BMO
Abercrombie
Toys
R
Us
Shoppers
Drug
Mart
Meijer
Home
Depot
AVERAGE
Urban
Ouciders
Hollister
JCPenney
Sears
IKEA
Macy's
Future
Shop
Kmart
HSBC
Supervalu
OfficeMax
Walgreens
BAC
CVS
Target
Safeway
7eleven
TDCT
Walmart
McDonalds
WORST
19. #RNWebinars
@LoveStats
-100 to +100 Scale
19
-‐100
-‐50
0
50
100
BEST
Sephora
Nordstrom
Barnes
&
Noble
Bloomingdales
Marks
&
Spencer
Office
Depot
American
Eagle
Oucider
Lowes
Dillards
Hertz
Canadian
Tire
BMO
Abercrombie
Toys
R
Us
Shoppers
Drug
Mart
Meijer
Home
Depot
AVERAGE
Urban
Ouciders
Hollister
JCPenney
Sears
IKEA
Macy's
Future
Shop
Kmart
HSBC
Supervalu
OfficeMax
Walgreens
BAC
CVS
Target
Safeway
7eleven
TDCT
Walmart
McDonalds
WORST
20. #RNWebinars
@LoveStats
• Evaluate the monthly/quarterly trend
• Evaluate more retailers, different
industries, different specialties, different
regions, different target markets
• Market and sell
Re-Test Reliability
20
21. #RNWebinars
@LoveStats
• Go beyond traditional social
media data
• Be innovative
Conclusions
21
22. #RNWebinars
@LoveStats
Thank you
22
Questions?
annie@conversi>on.com
hello@conversi>on.com