2010 02 TDWI Social Media


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Delivered at the TDWI Executive Summit, Las Vegas, Feb 2010. Discusses socila medial and its relationship to business intelligence. Copyright William Baker.

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2010 02 TDWI Social Media

  1. 1. Social Intelligence: Analyzing Customer Behavior Using Social Media<br />TDWI Executive Summit<br />Tuesday, February 23, 2010<br />Bill Baker (billbak@billbak.com)<br />CTO, G4 Analytics<br />Advisor/Investor/Board Member, Foothold Technologies, Inovus Solar, Optify, Whitecloud Analytics<br />
  2. 2. Sports Night 1998 – 1999<br />Are you sure Helsinki is in Finland?<br />They didn’t have Wikipedia on their iPhones…<br />2<br />
  3. 3. Social Media is Changing Everything<br />25% of search results for the world’s Top 20 brands link to user generated content1<br />78% of consumers trust peer recommendations2, only 14% trust advertising3<br />Plus all those Twitter and Facebook growth stats we’re always seeing in the press…<br />3<br />1 Turning Blogs and user-Generated Content Into Search Engine Results, Chris Aarons, Andru Edwards and Xavier Lanier<br />2July 2009 Nielsen Global Online Consumer Survey <br /> 3“Marketing to the Social Web,” Larry Weber, Wiley Publishing  2007<br />
  4. 4. Audience Poll<br />How many here are on Facebook?<br />LinkedIn?<br />MySpace?<br />Twitter?<br />How many here blog?<br />Comment on others’ blogs<br />How many here read reviews on Amazon?<br />Hotels.com?<br />How many post reviews?<br />How many read FlyerTalk?<br />How many participate in MyStarbucksIdea?<br />4<br />
  5. 5. So many BI applications depend on…<br />Corporate<br />Performance<br />Management<br />Churn analysis<br />Product lifecycle<br />Risk analysis<br />Sales analysis<br />Trade promotion<br />optimization<br />Workforce<br />Planning<br />Budgeting<br />& Planning<br />Customer retention<br />Sales<br />Forecasting<br />Credit scoring<br />Supply chain analytics<br />… information about customer attitudes and intents.<br />5<br />
  6. 6. Customer Attitudes and Intents<br />Old way<br />6<br />
  7. 7. Customer Attitudes and Intents<br />New way<br />7<br />
  8. 8. Customer Attitudes and Intents<br />New way<br />8<br />
  9. 9. Customer Attitudes and Intents<br />9<br />New Way<br />
  10. 10. Social Media Is…<br />Consumer generated content<br />A direct look at what consumers think and say<br />A two-way communication medium<br />A real-time laboratory for trying new ideas<br />10<br />Data mined from social media sources is THE data about <br />customer attitudes and intents that we always wanted <br />in Business Intelligence<br />
  11. 11. Blogging About Brands<br />11<br />Source: Technorati State of the Blogosphere / 2008<br />
  12. 12. Social Media Types(The Logo Parade)<br />Social networks<br />Blogs<br />Micro-blogs<br />Forums including idea sites<br />Reviews<br />Mainstream media<br />“First party” vs. “Third party”<br />12<br />Social Media is Consumer Generated Media<br />
  13. 13. Characteristics of Social Media<br />Social media<br />Transparent<br />Inclusive<br />Authentic<br />Vibrant<br />Consumer-generated<br />Open<br />Traditional marketing <br />Controlled<br />Organized<br />Exclusive<br />Product-driven<br />On message<br />Controlled<br />Collaboration<br />Communication<br />13<br />
  14. 14. Applications of Social Media<br />Generate awareness, drive viral and other marketing programs<br />Engage with customers and analysts<br />Provide customer support<br />Identify product issues including service interruptions and out-of-stock situations<br />Collaborate with customers and partners in idea generation and product improvement<br />Monitor and enhance brand reputation<br />14<br />
  15. 15. Listen & Analyze – Learn<br />Listen & Analyze<br />Engage<br />Integrate<br />Is anyone out there talking about my product/service?<br />What are they saying?<br />Are they happy? Not happy? Indifferent?<br />Who are they?<br />What sites/communities do they frequent?<br />Are they influential?<br /><ul><li>What are the perceived characteristics of my brand?
  16. 16. What are the perceived characteristics of my competitors’ brands?
  17. 17. Where is the white space in my market?
  18. 18. What are the opportunities to improve brand perception?</li></ul>15<br />
  19. 19. Engage<br />Track and analyze threaded discussions<br />Coordinate responses across teams and geographies<br />Distribute pre-approved message points<br />Assign security levels for each team member<br />Choose between central or distributed ownership<br />Listen & Analyze<br />Engage<br />Integrate<br />16<br />
  20. 20. Integrate<br />Adopt social media and social media metrics into your mainstream business activities<br />Sales<br />Marketing<br />Call center<br />Product design and life cycle<br />Listen & Analyze<br />Engage<br />Integrate<br />17<br />
  21. 21. Notable Examples<br />Dell – deal broadcasting<br />Comcast – customer service, outage detection<br />Starbucks – idea generation<br />Zappos – customer/company bonding<br />Microsoft – grassroots employee technology & product evangelism<br />Burger King – viral marketing<br />18<br />
  22. 22. What Happens if People Say Bad Things?<br />It’s going to happen regardless of your participation in social media<br />Random ‘haters’ don’t aggregate into anything – the community values genuineness and accountability<br />Engage honestly and thoughtfully to convert influential brand skeptics into brand advocates<br />19<br />Your engagement with the community plays out in public and influences <br />the whole community, not just the person you engage with<br />
  23. 23. Social Media KPIsWho is Influential?<br />Activity<br />Authors ranked on total number of posts and comments<br />Pull<br />Authors ranked on total number of other authors that comment on their posts<br />Reach<br />Authors ranked on total number of other authors to whom the rated author has posted comments<br />Page rank / Alexa rank<br />Measure of general viewership and ‘link juice’<br />Influence<br />Weighted combination of normalized reach, pull and rank<br />20<br />
  24. 24. Working at Scale<br />You need software<br />Thousands of conversations per day about popular brands<br />Millions of posts/tweets/etc to review every day<br />Some of the interesting KPIs require a view of the whole network<br />Software options<br />Home grown<br />Commercial<br />Freemium / Open source<br />21<br />
  25. 25. Why Can’t I Just Use Google?<br />Hundreds, if not more, searches<br />Synonyms, antonyms<br />Languages, countries<br />Social media content is often multi-topic<br />“My laptop rocks, but I really don’t like my_product”<br />Duplicates, SPAM<br />22<br />
  26. 26. A Process for Social Media Analytics<br />23<br />
  27. 27. Listening Platform Vendors<br />Nielsen BuzzMetrics<br />TNS Cymfony<br />Visible Technologies<br />Dow Jones Insight<br />JD Power & Associates<br />Biz360<br />Radian 6<br />Alterian (Techrigy SM2)<br />Scout Labs<br />Spinn3r<br />Notes<br />Listening platforms are in the early days<br />Vendors coming, going, consolidating<br />Several “Freemium” offerings<br />Good chance the whole segment merges into one or more other segments (CRM, Marketing apps, etc.)<br />*<br />* The Forrester Wave, Listening Platforms 2009 Q1<br />24<br />
  28. 28. Recommendations<br />Don’t have a social media strategy, have a customer strategy w/ social media aspects<br />Start with clear goals, match goals to social media types and tools<br />Start slow, find out where the relevant conversations are occurring<br />Use software to scale your efforts<br />Consider first-party social media<br />25<br />
  29. 29. Q&A<br />26<br />Also: <br />Article on Social Media and BI:<br />http://www.information-management.com/issues/2007_58/business_intelligence_social_media_customer-10015242-1.html<br />Article on free brand monitoring tools:<br />http://mashable.com/2008/12/24/free-brand-monitoring-tools/<br />All Slides Copyright © 2010 William P. Baker <br />