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Social Media RoI: Stop. Don't Run Away! (Debjani Deb speaks at IIR Measure Up Conference, 6-8 Jun 11, Boston)
 

Social Media RoI: Stop. Don't Run Away! (Debjani Deb speaks at IIR Measure Up Conference, 6-8 Jun 11, Boston)

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    Social Media RoI: Stop. Don't Run Away! (Debjani Deb speaks at IIR Measure Up Conference, 6-8 Jun 11, Boston) Social Media RoI: Stop. Don't Run Away! (Debjani Deb speaks at IIR Measure Up Conference, 6-8 Jun 11, Boston) Presentation Transcript

    • www.empowerresearch.comSocial Media ROI: Stop. Don’t Run Away!Debjani DebManaging PartnerEmPower Research LLC. 2011 Listen. Learn. EmPower Listen. Learn. EmPower 1 Tuesday, June 07, All Rights Reserved.
    • Your Consumers are Online Today 14% 21% 31% 66% Of online 14% either publish 21% post ratings 31% update Americans now a blog/ web page or comments in social use social media or upload video online forums networking sites HOW MANY TURN TO SOCIAL MEDIA WHEN MAKING PURCHASES Travel Apparels Personal Care Food/Beverages Groceries 28% 26% 18% 26% 17% Sources: www.sanfranciscosentinel.com, www.blogs.forrester.com, Knowledge Networks – May 2010EmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 2
    • CONSUMERS ARE EXPRESSING OPINIONS ON BRANDS/PRODUCTS/SERVICES AND LEARNING ABOUT THEM Paths to success not yet laid out THIS RESULTS IN SEVERAL OPTIONS FOR INVESTMENT/ SPEND ROI is still murky THEREBY INCREASING THE PRESSURE TO EMBRACE THIS NEW MEDIUM Cause and effect is not well thought outEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 3
    • IN NEXT MINUTES WE WILL DISCUSS DISCUSS… CURRENT ISSUES OF SOCIAL MEDIA MEASUREMENT THE PURCHASE FUNNEL AND HOW IT RELATES TO SM BLUEPRINT TO EFFECTIVE MEASUREMENT USING SMEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 4
    • The Marketing Spend Scenario Today $$$$ Most marketing $$$$ dollars are spent today on the first 2 steps of the purchase funnel LoyaltyEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 5
    • But measuring awareness and interest does not g help. The core measurement issue today… Relevance CFOs are not convinced by absolute measure such as these. Leadership will not be DASHBOARDS content when results are conveyed as re-tweets, fans re tweets, or number of followers Metrics need to reflect SITE STATISTICS impact on purchase intent, purchase and loyaltyEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 6
    • Copyright Howard McWilliam. Produced with prior consent
    • Fact 1: External and Internal Stimuli Shaping Brand Perceptions are Captured in Social Media Advertisements Advocacy Engagement Online Outreach Changing brand perceptions reflected in ti fl t d i social media by voice of the consumerEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 8
    • Fact 2: Investments Made at the Top of Purchase Funnel are Reflected at the Bottom of Purchase Funnel $$$$ $$$$ 1 Higher Purchase Intent 2 Loyalty Higher Sales and LoyaltyEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 9
    • So How Can We Use Social Media Data To Measure BYTES + BRAINS Aggregate at Large Harness Identify Online Influencers Opinion 1 2 Aggregation of Insights Understanding Opinion Universe LeadersEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 10
    • How Does One Aggregate at Large? Stage -1 Aggregation of unqualified chatter using tools Stage -2 Filter by using semantic rules as such as proximity, NLP or sentiments etc. Stage -3 Filter by using stratified random sampling for sub-populations that vary considerably Stage -4 Analysts led tagging for themes, tonality, demographic profile etc. AnalysisEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 11
    • Nuts and Bolts of Purchase Intention +ve Price -ve Neutral Image I Utility UtilitEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 12
    • Case in Point: Patient Consideration in Real Time Hi The launch of Product A lost some its sheen owing to Product B negative chatter on areness its price even when it was highly recommended by opinion leaders. Awa Product A This resulted in higher purchase intent/consideration Lo for competitor that was still in pipeline. -Ve Interest +Ve Size of the bubble indicative of intentEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 13
    • An Example of How Purchase Intent Metrics Impact Returns Share of Voice 50 40 For a particular 30 cereal brand, it 20 was found that 10 while moms had 0 high awareness, Brand A Brand B Brand C Brand D Brand E it did not result in i actual t l Actual Purchase Intention purchase intent 60 owing to poor 50 p perceived 40 nutritional value 30 20 10 0 Brand A Brand A Brand B Brand B Brand C Brand C Brand D Brand D Brand E Brand EEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 14
    • An Example of How Loyalty Metrics Impact Returns Increase in Awareness Sentiment The Greenpeace movement against Leading Negative Chocolate Brand Ch l t B d Sentiment created a lot of interest for the brand. Week 1 Week 2 Week 3 Week 4 Interestingly, many more first Loyalist First timers time customers bought the brand. SwitchersEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 15
    • Social Media can Provide a Lead Indicator for Sales Lag Data Marketing Data 1 Promo Data Integrated Sales Data g Insights 3 Social Media Lead Data Purchase Awareness Interest Intent 2EmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 16
    • Case in Point: Reasoning for Sales Fluctuations The above result explains that negative p g sentiments in the previous months had Social media some effect on sales performance. sentiment can be SALES used as a lead indicator for the point of sale data. Social media can explain the drivers and the ‘why’ of the peaks and troughs for sales data Mon 1 Mon 2 Mon 3 Mon 4 Mon 5 Mon 6 Mon 7 Brand’s Negative SentimentsEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 17
    • Statistical Analysis Reveals Competitor’s Promotion Efforts and Its Negative Conversation Influences Brand Sales Competitor promotion spend affected sales performance in Competitor’s negative a negative way tonality increased sales SALES SALES Mon 1 Mon 2 Mon 3 Mon 4 Mon 5 Mon 6 Mon 7 Competitor Promotion Spend Competitor Negative TonalityEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 18
    • The Mom’s Index a Way to Understand Intent at the Segment Level Millennials Moms Teens Understand Mom’s Purchase Intent outlook towards a Sales category including purchase intent of brands within the category relative to each other Understand teens perception of a brand. This index also lends itself to understanding segment based drivers for sales Month 1 Month 2 Month 3 Month 4 Month 5 Month 6EmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 19
    • In Conclusion Social Media lends itself well towards learning about marketing impact But focus on pure awareness as a measure is not enough to justify spending True impact/ROI can be measured if purchase intent loyalty and sales can intent, loyalty, be measured The voice of the stakeholder is a powerful learning tool that brands should use to empower and tweak marketing strategiesEmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower 20
    • www.empowerresearch.com Retail/CPG Advertising Communications/ High Tech/ Pharmaceuticals Financial Public Relations Telecom Health Care Services Corporate Headquarters EmPower Research LLC 404 East 79th Street Suite 16E New York, NY 10075 Tel : +1 646 435 0030 Fax : +1 646 472 5806 Global Research Center EmPower Research Knowledge Services Pvt. Ltd. Ozone Manay Tech Park 3rd floor, Block B Kudlu Gate, Hosur Road Bangalore 560 068 Tel : +91 80 4020 5300 Fax : +91 80 4169 8306EmPower Research LLC. All Rights Reserved. Listen. Learn. EmPower Listen. Learn. EmPower 21 21