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Presentation one is this 5 part series - an introduction to Social Media Monitoring

Presentation one is this 5 part series - an introduction to Social Media Monitoring

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  • Highly Responsive – can collect, analyse and respond on any timescaleHighly Specific – can relate to very specific conversations Highly Predictive – conversations are leading indicatorsIn Context – feedback is pure and customer generated, not contrived or derivedUnique – access to brand, competitive, partner and customer information is unparalled360 Degree’s – can get a complete view of the customer, partner or competitor (not just in relation to your brand)Highly Scalable – access to ‘rivers’ of data and a dataset that can be globalUnstructured – its full of spam, unordered and needs cleansing
  • Highly Responsive – can collect, analyse and respond on any timescaleHighly Specific – can relate to very specific conversations Highly Predictive – conversations are leading indicatorsIn Context – feedback is pure and customer generated, not contrived or derivedUnique – access to brand, competitive, partner and customer information is unparalled360 Degree’s – can get a complete view of the customer, partner or competitor (not just in relation to your brand)Highly Scalable – access to ‘rivers’ of data and a dataset that can be globalUnstructured – its full of spam, unordered and needs cleansing
  • Filtering out some of the content (because with so much big data it's hard to remove every non relevant item automatically through limited search capability);Often retagging it because the tools just didn't quite get it right. (this is particularly true in sentiment analysis where the tools struggle with nuance - especially Australians sense of ironic or sarcastic humour).It takes time, it takes experience and it takes some knowledge of the business, products and services if the social business intelligence services are sourced from organisations such as ours.We hear much about how social media is free and the basic analytics tools are free but we rarely see discussion on the effort involved in turning data into insight.
  • Real-Time: search results from an extensive, constantly updated database.Text Analytics: Using language analysis and data mining technology, iGo2 distills the key news, themes and issues, letting you drill down to the most relevant content.Global & Multi-Lingual: iGo2 collects data from around the world, giving users the ability to quickly see the conversations taking place and where they are happening. But we can also focus on singular countries and provide some city level data where required.Comparisons & Trends: Do comparisons against multiple searches across different geographies, languages and demographic groups.Spam Free: To produce clean results, iGo2 uses a proprietary four-step spam- filtering process that keeps out the “noise” so search results are accurate and accessible.
  • Automated Sentiment: Using leading-edge machine-learning and advanced language technology, iGo2 identifies if conversations are positive, negative or neutral.Geo-Demographics: See where social media activity is happening by country, state/province and city. Gain insight into the age, gender and profession of people driving the conversations.Influencer Identification: Identify the people driving the conversations, and then engage with key influencers and opinion leaders to establish and build relationships.Track Specific Targets: such as the reach and authority of a particular Twitter handle – great if you really want to drill down into specifics
  • Define Crisis Management Strategy for Social MediaSet-up a Social Media Crisis Management – process and methodologyEnsure the team has sufficient training and hands-on experience communicating with stakeholders on social media channelsSet up response channels such as a blog, YouTube account, Twitter account, etcStart listening: Through the iGo2 Social Business Intelligence Service.Imagine the worst PR scenarios possible to hit your business. Prepare for them by making sure you understand and can use the social channels like YouTube, Twitter, Facebook, etc,.Optimize a website or blog you intend to use for crisis management with keywords that can be used.Nurture meaningful connections with major players on the Net who have strong followings on YouTube, Facebook, Twitter, etc, so that they may help you in times of crisis.Run regular fire drills – at least once a quarter.Be ready to respond immediately

Social business intelligence an introduction Social business intelligence an introduction Presentation Transcript

  • Social Business Intelligence An Introduction
  • “Big data is going to usher in an even more important corollary industry - big interpretation. Our problem insocial media isn’t lack of data; it’s lack of understanding how to make that data actionable. Most big data projects and companies are only answering half the question, at best.” Jay Baer
  • AgendaØ  What is Social Business Intelligence?Ø  5 Ws of Social Business IntelligenceØ  Key advantages of Social DataØ  Challenges of Social DataØ  Case StudiesØ  More Resources View slide
  • Social Business IntelligenceØ  Social intelligence is the process of monitoring, collecting, and analysing data from social sources to make informed and agile business and policy decisions.Ø  Social intelligence makes sense of the endless number of tweets, comments, posts, and other social data and turns it into actionable insight. View slide
  • Social Business IntelligenceØ  True Social Business Intelligence is a holistic approach designed to drive business outcomesØ  Real value = using intelligence to derive insightsØ  Insights provide strategic opportunity to engage in new and innovative ways with customers, prospects, partners and other stakeholdersØ  Social Business Intelligence should continually be moving towards ‘real time’ analysis (conversations wait for no one)
  • Social Business IntelligenceØ  Monitoring is not analysisØ  You can only manage what you monitorØ  Social Business Intelligence requires: monitoring, measurement AND analysisØ  ‘Big Data’ is a term often associated with Social Business Intelligence
  • WhatØ  ...are people talking about?Ø  …are the key conversations?Ø  …is being said about your products and brands?Ø  …is being said about your competitors, their brands and products?Ø  …is being said about your partners and how they represent your products and services?Ø  …are the major opinions being raised?
  • WhenØ  …did these conversations happen?Ø  …these conversations took place was there something else of relevance happening at the same time?Ø  …historical and real-time dataØ  See, compare and contrast buzz generated over time.
  • WhereØ  …did these conversations happen?Ø  …in the myriad of social networks did these conversations take place?Ø  Was there a lot of activity?Ø  …around the world the conversations are taking place? (geo-demographic information)
  • Special Case: Location MonitoringAdd location monitoring for:Ø  RetailØ  FranchiseØ  BankingØ  Service StationsØ  OutletsØ  Dining ccØ  Medical / DentalØ  AutoØ  GroceryProviding intelligence notcaptured by keywordbased searches
  • Special Case : Location Monitoring Reputation Management Location Intelligence Ø  Sentiment Benchmarks Ø  Follow local activity trends Ø  Compare Local, Regional Trends Ø  Identify leaders & laggards Ø  Rank Locations Ø  Content alerts for owners/managers Ø  Drill down to sourcesCampaign Start Ø  Marketing Measurement Customer Sentiment Ø  Location metrics for campaigns Ø  Proprietary sentiment scoring engine Ø  Measure net new people / buzz Ø  Deep trending, drill down reports Ø  Configure locations, keywords, times Ø  Delegate and alert locations of issues Customer Insight & Research Compliance Monitoring & Operations Ø  Demographics & message analysis Ø  Follow local trends & operations Ø  Trending topics and locations Ø  Detect customer anomalies Ø  Surface fans, critics, most engaged Ø  Report on outbound local messaging customers
  • WhoØ  …are key influencers? (access information about their gender, age industry and interests)Ø  …is doing the talking?Ø  … is their influence?Ø  …are their followers?Ø  …are their followers’ influencers?Ø  …has cross channel influence?
  • WhyØ  …are conversations happening?Ø  Are they positive, negative or neutral?Ø  Determine the impact on your business.
  • Advantages of Social Business IntelligenceØ  ResponsiveØ  SpecificØ  PredictiveØ  In contextØ  Unique
  • Advantages of Social Business IntelligenceØ  360 degreesØ  Highly scalableØ  Flexible
  • Challenges of Social Data StreamsØ  Signal to noise ratio is high – often difficult to extract the gold you are seekingØ  The intelligence finds you – have to be very clear on what you are askingØ  You manage what you measure – are you asking the right questions?Ø  Hard to determine what you should be asking
  • Challenges of Social Data StreamsØ  Organizing data into meaningful categories in easy to understand waysØ  Filtering out some contentØ  Daily effort required to retag data – especially sentiment dataØ  Easy to trivialise the effort it takes to sift, sort, filter, categorise and analyse the data into true social business intelligence.Ø  Free monitoring tools rarely provide access to ALL data
  • Recent Study on the use of Monitoring ToolsMany are not getting full Often very tactical value
  • Understand What You SeekØ  Measurement is not AnalysisØ  Analysis is not always InsightØ  Monitoring is not the same as ResearchØ  Intelligence requires knowledge of the business as well as the data
  • Key Features of Social Business IntelligenceØ  All networksØ  Real-timeØ  Text analyticsØ  Global & multi-lingualØ  Comparisons & trendsØ  Spam free
  • Key Features of Social Business IntelligenceØ  Automated SentimentØ  Geo-DemographicsØ  Influencer IdentificationØ  Track Specific Targets
  • Use Cases for Social Business IntelligenceØ  Crisis ManagementØ  PR & Reputation ManagementØ  Influencer ProgramsØ  Improve customer serviceØ  Competitor intelligenceØ  Partner intelligence
  • Use Cases for Social Business IntelligenceØ  Improve product and service developmentØ  Improve target marketingØ  New Product Launch researchØ  Improve Customer LoyaltyØ  Policy or initiative review
  • Deep Dive : Crisis ManagementØ  Define Crisis Management Strategy for Social MediaØ  Set-up a Social Media Crisis Management PlanØ  Ensure the team has sufficient training and hands-on experienceØ  Set up response channelsØ  Start listeningØ  Imagine the worst PR scenarios possibleØ  Optimize a website or blog you intend to use for crisis managementØ  Nurture meaningful connections.Ø  Run regular fire drillsØ  Be ready to respond immediately
  • “Data is of no use if you don’t know what to do with it. 2012 will see brands increasingly looking for social media dataanalysts who understand what to do with big data and how to use it for business results.” Marc Meyer
  • iGo2 Social Business Intelligence ServicesØ  Research projects including Social AssessmentsØ  Social Business Intelligence gatheringØ  Social Business Intelligence processingØ  Social Business Intelligence analysisØ  Social Business Intelligence to Strategy servicesØ  Social Business Intelligence to Tactics and Presence BuildingØ  Social Business Intelligence integration
  • Social Media Monitoring ServicesØ  All social data streamsØ  Drilldown analysisØ  Sentiment analysisØ  Comparative AnalysisØ  Drilldown to influencersØ  Drilldown to sourcesØ  Slice and diceØ  Periodic reporting – weekly, bi-weekly, monthly, real time
  • SummaryØ  A short period of monitoring provides a wealth of valuable business dataØ  Opportunity exists for businesses to:•  Differentiate•  Improve: Customer service and loyalty Competitive positioning Brand consistency•  Amplify the ‘good’ and contain the ‘bad’•  All in real time
  • Suggested Further ReadingØ  http://www.sysomos.com/Ø  http://www.radian6.com/Ø  http://www.kaushik.net/avinash/ - Occam’s RazorØ  http://www.ebizq.net/blogs/enterprise/2011/08/ harnessing_social_business_int.phpØ  http://demo.igo2group.com/tc60_socbiz/ iGo2’s Social Business Community
  • Thank You Contact UsAddress: iGo2 Group Pty Ltd 153 Walker Street, Level 8 North Sydney 2060 AustraliaEmail: contact@iGo2Group.comPhone: +61 2 9954 0070Website: www.iGo2group.com