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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.

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 2010 02 TDWI Social Media Presentation Transcript

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