Social media intelligence
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Social media and the real-time web are rapidly growing databases, which are also Large streams of consciousness. ...

Social media and the real-time web are rapidly growing databases, which are also Large streams of consciousness.
Intelligence mined from the social web has widespread implications on the data gathering process in research, gauging return on investment, campaign planning process, product development , customer relationship management and more.

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Social media intelligence Presentation Transcript

  • 1. Social Media Intelligence Blackgold of 21 st Century Bharani Setlur, CEO AdTech London, 2011 Engage & Convert Theatre, National Hall, Olympia, London 22 nd Sep, 2011
  • 2. About Webfluenz A sophisticated social media intelligence system to listen, monitor and engage with social media and the real-time web What do we do?
  • 3. In this presentation..
    • The Growth of social media and the real-time web
    • Implications on research
    • Social media and social change
    • Implications on brands and companies
  • 4. The internet caused a massive shift in the dynamics of communication Social media connectivity, subsequently transformed the means by which people connected , created and shared content. Such factors along with various other socio-economic changes have resulted in a paradigm shift in the way brands and companies interact with their customers!! Image Courtesy: jscreationzs Image Courtesy: Nutdanai Apikhomboonwaroot
  • 5. They are large streams of consciousness where people willingly share their thoughts and views Social media and the real-time web are rapidly growing databases or data warehouses   These databases are brimming with insights into people ’s lifestyles, behaviour, habits, preferences, likes and dislikes. Image Courtesy: Master isolated images
  • 6. What are the Implications of this growth of social media and the real-time web on R esearch ?
  • 7. This growth has enhanced and in some cases, changed  approaches and methodologies of assessing business intelligence
    • In the past Research was…
    • Intrusive since people were prompted to take part in the data collection process, as opposed to willingly contributing to discussions
    • Time Consuming since the data collection process used to vary from weeks to months
    • Restrictive in terms of scale, since the data had to be restricted to a sample set
  • 8. NOW..
    • No more constraints on Time, Scale or Acquisition during data gathering while conducting research:
    • Social media and the real-time web intelligence, affords for the acquisition of unprompted and more ‘honest’ and ‘real’  mentions
    • The scale of research is no longer restricted to a sample set that is defined by the limits of human capacity to gather and collate information
    • Time is no longer a constraint since conversations in the social-web happen continuously and data can be gathered in real-time
  • 9. What are the Implications of this growth of social media and the real-time web on Brands and Companies ?
  • 10. Return On Investment
    • Social media Chatter is a potent measure of a company ’s ROI of their marketing efforts
    • ROI goes one step beyond the total volume of buzz in the social media
    For instance, a popular skin care brand launched a powerful online marketing campaign. At first glance, it seemed like the campaign was successful since it had resulted in substantial discussions about the product in social media platforms. A deeper analysis showed that most of the buzz in these platforms were not pertaining to the product and were infact irrelevant. Although, the marketing campaign seemed successful at first glance, since it did not result in buzz relevant to the brand, the return on investment is actually nil.
  • 11. Campaign Planning
    • Marketers plan campaigns based on the nature of chatter of their brands/companies
    • They identify where to run their marketing campaigns by analysing the break-up of chatter across various geographies
    • The effectiveness of campaigns is gauged by listening for conversations on social media channels pertaining to any specific ads, which might be resonating in users ’ minds
    • Campaign planning can be tweaked based on the results of listening and monitoring online conversations
  • 12. Purchase Intent
    • Social media has infiltrated the purchasing funnel
    • Consumers now make informed decisions, from what to have for lunch to where to go on a vacation
    • Social media chatter, a great measure of Purchase Intent with consumers constantly posting about their purchase aspirations online.
    A great example of a company that used social media to measure purchase intent was a popular credit card company that took to social media to specifically track conversations that mirrored people ’s intention to travel, which was later linked to their marketing efforts.
  • 13. Purchase Intent
    • Social media has infiltrated the purchasing funnel
    • Consumers now make informed decisions, from what to have for lunch to where to go on a vacation
    • Social media chatter, a great measure of Purchase intent with consumers constantly posting about their purchase aspirations online.
    A great example of a company that used social media to measure purchase intent was a popular credit card company that took to social media to specifically track conversations that mirrored people ’s intention to travel, which was later linked to their marketing efforts.
  • 14. Customer Relationship Management
    • Social media is brimming with intelligence about customers ’ grievances, recommendations, likes and dislikes, which is of immense value to companies striving for better relations with customers
    • Real-time feedback about products is attained from the target audience
    • Companies address their audience ’s grievances in real-time, which was practically impossible via traditional CRM channels
  • 15. Reputation Management
    • Social media is like word-of-mouth on steroids
    • Bad word-of-mouth online can be the demise of even extremely promising companies
    • For instance, a car company had a surprisingly large number of cancellations which spiraled the company into fixing everything in their sales. Later, it was unraveled that there were a bunch of bloggers who had blogged about their disappointing after-sales service.
    • If the company was online and was monitoring negative comments, they could have addressed these issues before they became viral and caused such colossal damages
  • 16. Behavioural Research
    • Intelligence mined from social media and the real-time web, now provide a window to understand and analyze complex human emotions, moods and habits.
    For instance, online conversations are monitored to analyse the time of the day when people are happy and likely to buy a product OR the time of the day when people are likely to be put-off or distressed and likely to buy something else
  • 17. To sum up… The three factors of shorter , almost real-time intelligence , the vast scale and the lack of direct intervention on people in the information collection process are the cornerstones of the shift that has impacted the way businesses do business and being social by itself, no longer an option
  • 18. CONTACT: [email_address] FOLLOW US ON: