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Ama Webcast 2.17.09

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Visible Technologies, Forrester, and Microsoft in the AMA webcast about marketing in a consumer controlled world.

Visible Technologies, Forrester, and Microsoft in the AMA webcast about marketing in a consumer controlled world.

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    Ama Webcast 2.17.09 Ama Webcast 2.17.09 Presentation Transcript

    • To hear the audio portion of today’s webcast, you MUST dial in: Domestic Participants: 800.926.5124 International Participants: +1 212.231.2908
    • Check out the AMA website
    • Commonly Asked Questions 1. Will I be able to get copies of the slides after the event? 2. Is this web seminar being taped so I or others can view it after the fact?
    • Today’s Presenters • Suresh Vittal Principal Analyst Forrester Research • Blake Cahill Senior Vice President of Marketing Visible Technologies • Dennis Bye Group Manager, Digital Marketing Microsoft US Central Marketing Group
    • Listening in a socially connected world Suresh Vittal Principal Analyst Forrester Research February 17, 2009
    • Listening is the foundation for a social media strategy 7 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Agenda • The case for listening • Defining Listening platforms • 2009 Forrester Wave™ on listening platforms • Recommendations 8 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Agenda • The case for listening • Defining Listening platforms • 2009 Forrester Wave™ on listening platforms • Recommendations 9 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Consumers control a company’s reputation • Customers are more likely to trust online reviews from peers than a company’s marketing. 10 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Consumers control a company’s reputation • Customers are more likely to trust online reviews from peers than a company’s marketing. • Conversations, both good and bad, spread quickly. 11 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • News and opinions travel quickly . . . Source: USA Today (http://www.usatoday.com/tech/products/2008-11-18-motrin-ads- 12 twitter_N.htm) Forrester Research, Inc. All rights reserved. Entire contents © 2008
    • Consumers control a company’s reputation • Customers are more likely to trust online reviews from peers than a company’s marketing. • Conversations, both good and bad, spread quickly. • Social tools make brand advocates highly influential. 13 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Social media acts as a proxy for mass marketing HP’s Kung Fu Panda campaign contacted 200 bloggers, to eventually Source: Silicon Valley Mom’s Blog reach more 14 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Consumers control a company’s reputation • Customers are more likely to trust online reviews from peers than a company’s marketing. • Conversations, both good and bad, spread quickly. • Social tools make brand advocates highly influential. • This is only the beginning. 15 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • An informed consumer is a powerful consumer The “new info shopper” According to the WSJ and PSB research: • “A whopping 92% of respondents said they had more confidence in information they seek out online than anything coming from a salesclerk or other source. • Information seeking is not just an activity, it's a way of looking at the world. • But how many marketers today work back from what this new consumer is thinking and doing? Not many. • Most lag way behind in creating a new model of consumers and the steps they take before they buy.” 16 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • More than three quarters of the US is participating in some way Publish a blog. Publish your own Web pages. 21% Creators Upload video you created. Upload audio/music you created. Write articles or stories, and post them. Post ratings/reviews of 37% Critics products/services. Forrester Comment on someone else’s blog. Contribute to online forums. Technographics Contribute to/edit articles in a wiki. ® 19% Collectors Use RSS feeds. Ladder Add “tags” to Web pages or photos. “Vote” for Web sites online. 35% Joiners Maintain a profile on a social networking site. Visit social networking sites. Read blogs. Watch video from other users. 69% Spectators Listen to podcasts. Read online forums. Groups include people Read customer ratings/reviews. participating in at least one of the activities 25% Inactives monthly. None of the above 17 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Initially marketers turned to brand monitoring 18 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Definition Brand monitoring: The ongoing analysis of mainstream media and consumer- generated content to identify trends relevant to a company's marketing activities and competitive landscape 19 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • But marketers need to do more. 20 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Marketers are making listening a top priority “In 2009, P&G will . . . focus on listening. Our goal is to reduce the amount spent on traditional research by half and to devote the Kim Dedeker VP, Global remaining 60% to “listening” Consumer and Market Knowledge research.” Procter & Gamble 21 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Agenda • The case for listening • Defining Listening platforms • 2009 Forrester Wave™ on listening platforms • Recommendations 22 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Definition Listening platforms: A technology and analytics infrastructure that mines a wide variety of traditional, online, and social sources to extract and deliver insights that shape a firm’s strategy across the marketing mix 23 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Listening informs many marketing activities Product Innovation Consumer segmentation Sentiment analysis Positioning Crisis communication Brand monitoring Tactical Strategic Tactical Strategic 24 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Listening platforms share a three-step process • Data retrieval –From myriad of sources, including social media, rich media, offline media, news, and micromedia • Data processing –Text analysis through NLP, Boolean processing, and/or human analysis • Insight delivery –Dashboards, reports, and/or consulting services and advisory 25 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • The listening platform process Source: Listening Platforms Landscape Forrester report 26 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Agenda • The case for listening • Defining Listening platforms • 2009 Forrester Wave™ on listening platforms • Recommendations 27 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Screening criteria • Screening criteria used for determining vendors: – Significant market presence •Annual revenues •Client relationships –Frameworks to support multiple marketing scenarios –Broad data coverage –Forrester clients’ demand from inquiries 28 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Forrester Wave™ methodology • Screener surveys – Determined the most relevant vendors (seven) by evaluating vendor’s full business model with surveys • Client reference checks – Spoke with five current customers for each vendor to validate product and vendor qualifications. • Hands-on lab evaluations. – Vendors spent one day with a team of analysts who performed a hands-on evaluation of the product using a scenario-based testing methodology. – Product demos — Vendors conduct demonstrations of their product’s functionality. We used findings from these product demos to validate details of each vendor’s product capabilities. • Evaluating Forrester exercise – Instructed each vendor to track Forrester for a predetermined time period and make marketing recommendations based on findings 29 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Forrester Wave™ evaluation criteria • Current offering – Vendor’s breadth, geography, and multilingual coverage of data sources – Core functionality — from set up and monitoring, to dashboards, reports, alerts, and external integration. – Text analysis — how vendors analyze data, extract concepts, and identify sentiment – Consulting and analysis services — how vendors delivered insights to support specific use cases like influencer analysis, new product development, and market segmentation • Strategy – Go-to-market strategies and how well each articulates the move from passive brand monitoring to active listening – Strength of management teams • Market presence – Emphasized customer information including feedback from customer references, active accounts, average sale size, and client growth 30 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Forrester Wave™ results Risky Strong Bets ContendersPerformers Leaders Strong Market presence Nielsen BuzzMetrics TNS Cymfony Dow Jones Insight Visible J.D. Power & AssociatesTechnologies Current offering Biz360 Radian6 Weak Weak Strategy Strong Source: “The Forrester Wave™: Listening Platforms, Q1 2009” Forrester report 31 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Agenda • The case for listening • Defining Listening platforms • 2009 Forrester Wave™ on listening platforms • Recommendations 32 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Recommendations — questions to answer • What are the goals of using the listening platform? – Customer segmentation, crisis management, market research for product development, competition tracking, etc. • Which media sources are relevant to our goals? – Social media, traditional media, offline media, or a combination? • How much time can the team commit to a listening platform? – Dashboards provide relevant results but are time consuming. – Reports save time but can lack full value. – Services take time but offer high value. • How much money can the team commit to a listening platform? – Cheaper options often lack robust features. • How prepared is the marketing team to use a listening platform? – Who will oversee the platform, administer queries, be responsible for data, etc.? 33 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Thank you Suresh Vittal +1 617.613.6097 svittal@forrester.com www.twitter.com/sureshvittal www.forrester.com 34 Entire contents © 2008 Forrester Research, Inc. All rights reserved.
    • Beyond “Listening” Examples of How Leveraging Social Media Can Transform Your Brand & Organization Blake Cahill SVP of Marketing blake@visibletechnologies.com
    • Visible Technologies - Overview • Founded in 2003 • Offices in New York, Seattle, Boston, LA, San Francisco with over 80 employees • Industry-leading products to track, measure and engage in social media conversations (TruCast®) and online reputation management (TruView™) • Clients: • Awards:
    • Social Media Challenges Marketers & Organizations • A new channel with overwhelming amounts of data • Separation of insights and issues from useless data • Discovery of new topics and trends • Coordination of ownership across the organization • Analysis of overall brand impacts • Identification of “influentials” • Pro-active participation in discussions • Competitive analysis • ROI measures • Global reach
    • Who Should be Paying Attention? • Brand Marketers • Media Buyers • Public Relations • Product Development • Market Research • Customer Service • Executives …..THE ENTIRE ORGANIZATION...BUT HOW & WHY?
    • What Can Be Learned & How? Online Word-of-Mouth Customer Experience Product Innovation Consumer segmentation Sentiment analysis Positioning Crisis communication Brand monitoring Strategic Tactical Additionally, Customer Experience and Online Word-of- Mouth should also be consider categories
    • Case Study: Brand Monitoring Situation: Client was a major sponsor of the Summer Olympics and had invested heavily to increase awareness around their brand image and products. Action: Monitor all conversations about company brand, products and services , and specific athlete sponsorships to measure overall volume of conversations, sentiment, and any radial/viral spread of conversations. Results: Client saw a large increase in conversations while being able to keep an eye on the overall sentiment changes throughout the event. The individual conversations of athletes' had a very positive impact for the brand. This visualization has also been used to track crisis comms situations for clients as well
    • Case Study: Positioning – Conversation Analysis Situation: A major CPG manufacturer was looking to understand all online conversations about their recently launched food product with respect to terms and attributes used in online discussions about the product. Action: Aggregate all conversations and dissect which words and phrases were being used in addition to measuring the sentiment of conversations as well as competitor conversations for similar products. Results: Client recognized a number of key messages were and were not resonating with many consumers and adjusted marketing messages and competitive differentiation based on findings.
    • Sentiment Analysis – What Can Be Learned? Measuring Sentiment can reveal the relative post-volume and sentiment values for each of the topics of data being collected on behalf of a client. Our client data suggests that typically, less than 25% of statements made about any given topic within the social media space contain sentiment. Additionally, tracking changes in sentiment of conversations overtime (in conjunction with actions taken by marketers or organizations to move this indicator) is a KPI (Key Performance Indicator) that most best-in-class organizations have adopted.
    • Case Study: Segmentation Analysis Size shows influence: find authors who lead, to impact authors who follow. Situation: A major film manufacturer was looking to understand Color shows sentiment: find all online conversations disgruntled customers of your about a particular affinity competitors for conversion. group prior to the launch of their new product. Identify groups with whom your Additionally, they wanted competitors don’t have a to understand competitive foothold in the marketplace. affinity and sentiment. Reach out to brand advocates Action: to reward and encourage their Aggregate all support. conversations and dissect which online consumers Discover strong voices for your were grouped around a competitors: know who’s in the particular affinity as well room when you engage. as measure sentiment and analyze all competitive Interact with positive affiliations. consumers: they’re more likely to enjoy your product in the Results: context of their enjoyment of their activity, creating Client recognized a transference. number of key influencers that were brand and un- Identify broad-market leaders, brand affiliated to which who’s broader reach warrants they targeted there online outreach: prioritize your actions. launch actions towards.
    • Case Study – Online Word-of-Mouth/Engagement Three days later, influential blogger Robert Farago challenges GM’s positioning on “The Truth About Cars” blog 05/16/08 05/19/08 05/19/08 TruCast finds TTAC post and starts GMnext Team Member collecting and Chris Terry writes on analyzing the growing GM blog that company number of comments is considering more and conversations turbo engine vehicles to address performance and fuel economy issues
    • Case Study – Online Word-of-Mouth/Engagement Johnny Canada : Robert Farago : Chris Terry launches May 19th, 2008 at 10:05 am May 20th, 2008 at 11:32 am TruCast Engagement Manager where he reviews “Smaller engines using a Turbo “Christe. You may be interested analysis of all conversations can generate impressive to note that you are the first GM and crafts response he horsepower gains, but still lack employee to ever do so. posts through platform back the low rpm torque needed to get Congratulations! Thank you for to TTAC. TruCast a heavier vehicle moving. As a engaging in this online automatically starts result, a Turbo is best utilized on conversation. I’m extremely analyzing new comments small lightweight vehicles.” grateful …Let’s do this again.” Mid May 05/20/08 Late May Farago and others acknowledge GM participation and tone of conversation starts changing more Consumers continue favorably toward GM to challenge GM position positioning
    • TruCast® • Comprehensive Data Sources