Sphere of trust
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Sphere of trust

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Social Intelligence(Facebook,Twitter,Youtube)

Social Intelligence(Facebook,Twitter,Youtube)

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Sphere of trust Sphere of trust Document Transcript

  • Sphere of trust:Social intelligence for enterprisesExecutive summary:Enterprises understand their customers and followers better today through Social integration.Increased spend observed to invite social intelligence and create platforms for analysis. Historicallyresearch and analysis of information from social domain is steered by business leaders with a limitedparticipation from Information technology leaders.As the topic is getting into the new normal of enterprises, it is critical for everyone to first appreciateand relate with the business relevant analysis possible from collecting information from publicdomain. Also for technologists be conversant of the challenges to enable the same due to volume ofinformation possible, variety to deal with and speed at which information landscape in the publicdomain changes.At Manthan Services we help customers in two ways. Help them lay a technology roadmap to enablea governed social intelligence and provide a productized platform as a service for such analysis© 2012 Manthan Services | manthanservices.com
  • A whitepaper fromManthan Services© 2012 Manthan Services, All rights reserved Page | 2Sphere of trust: Enterprise social information strategyIt is a new normal to see “Like our official page on Facebook” or “Follow us on Twitter” or “Subscribeto our youTube channel” and other similar links on every commercial or non-commercial website.What these organizations are planning to accomplish? A one sentence answer could be creating asphere of trusted network of brand loyalists. While business loyalty is the hidden agenda in case ofcommercial organizations, non-commercial pursuits are striving emotional attachment with itsfollowers.Skeptics on one side feel if such a strategy of marketing helps improve the brand position. But it isclear on the other side that brand conscious companies are spending over 15% to 20% of theirmedia-spend on social media. Why? Our quick analysis of all the profiles couple of years ago say onFacebook showed greater than 41% of population across the world mention a preference to at least 2or more brands. Social networks are offering a unique panel to conduct secondary market research.In contrast to the panel based research social media is proving to clearly help unearth the impartialviews of the consumers or followers.This strategy of inviting social activity into the realm of an enterprise appears to help expand the “egoboundaries” of the enterprise. Employees of such organizations with followership and social activitycarry a pride of association with something unique.While it is an easy guess for developed countries, it is more interesting to note that the activity onsocial networks and public domain has exploded in the recent years across different emergingnations as wells. This can be attributed to the communication channels created through ease ofmobile and geographic localization technology adoption.It is easy to estimate that the volume of public domain activity that is related to any enterprise is goingto surpass or already surpassed the volume of activity registered with in the systems of theenterprise. This is causing enterprises to think if they are acting accordingly to reap the benefits ofanalyzing such information to become competitive. So there is a need for a strategy at enterpriselevel. Be it information from social networks or other public domain datasets, it could meanenterprises need to embrace new technologies or new way of working or new competencies.Rest of this paper highlights only a few use cases of such social information integration intoenterprise’s new normal and some foundational thoughts around how a social information strategyhas to be established.Branding: Leveraging social networksHow enterprises are improving the brand performance through social networking.Enterprises as a first step define a brand page or channel or follow us page on the social networkingsites. They even display the amount of followership on each of these sites to emotionally assistfollowers feel the attachment and invite more participation.FollowersInfluencersLoyalistsFollow us on:
  • A whitepaper fromManthan Services© 2012 Manthan Services, All rights reserved Page | 3Sphere of trust: Enterprise social information strategyAs a second step, enterprises establish a way to seek and analyze the followership profile. At aminimum such an analysis would help identify a casual follower versus an influencer versus a loyalist.While a casual follower helps in the overall popularity measure, an influencer who is activelycommunicating and influencing for or against the brand is critical to analyze. Such an influencer canone day transform into a loyalist. Loyalists demonstrate different attachment that could be very usefulfor enterprises to proliferate viral messages.Once these two steps are figured out it is all about a creative set of actions targeted towardsincreasing followership and improving the effectiveness of the followership profile.Brand reputation: Ranked followership profileA collective metric which considers casual follower base, influencer and loyalist segments is a bestindication to rank brand reputation. Such an analysis shows that a followership profile of differentbrands change rather frequently across geographies, across demographics and lifestyle segments.When we started doing such an analysis in the past, we assumed that clearly the brands that arealready popular on the planet before the advent of social networks would be ranked high on thereputation. Reality turned out to be different. Leaving aside the popular brands not socially active,brands which were ranked well in the start lost their ranks to other brands having sizeable currentactivity. So a time series analysis is critical across various brands as prototyped below:A word for technologists: We know that this kind of visualization and analysis appears easy from a business intelligence system standpoint. Butas the underlying need to run such a process across a union of 600+ Million Facebook profiles, 400+Million Myspace profiles and similar datafrom other networks put together, to slice aggregates across population by demographics, geographies, lifestyle etc., in a very rapid manner isnot an easy puzzle. And that is exactly what we have solved in the past to provide advanced visualizations on such information in a rapidmanner. Such queries can run for days some times.Brand popularity: Comparative segmentation of followershipBrand popularity is a matter of relativity and a point in time snapshot if we have to look at it from atactical angle. Products are launched, recalled or retired from time to time. A comprehensivefollowership profile once built for brands that can compare, several questions that have an emotional
  • A whitepaper fromManthan Services© 2012 Manthan Services, All rights reserved Page | 4Sphere of trust: Enterprise social information strategyrelevance of the followership can be analyzed. Clearly the population segments and associatedlifestyle interests become evident to help in establishing popularity.One very popular use case of the social networks has been proved by automotive companies for newproduct introduction. This is proven applicable for different specialty products as well. Nodal loyalistsof specific product categories can help establish themselves as opinion leaders. Messaging throughsuch leaders is proven to have an increased impact than branding for the new products throughadvertisement and other media.Brand affinity: Cross entity followershipAnother very useful analysis from the followership profiles across brands, products and cross relatedentities is “cross affinity”. This analysis of followers of a brand versus other related entities ex: songsor TV shows or Celebrities or other products are helping:1. Retail merchandisers for product bundling strategies for specific geographies and demographics2. Brand marketers of media and non-media enterprises to design promotions through co-branding3. Manufacturing brand managers conduct regional and seasonal analysis and correlate for tradepromotional effectiveness4. Ecommerce sites to include related products and offers based on the geography from where theuser has logged into the sitesFollowing illustrates a case of product bundling in China. People have a strong desire to take ashower after tea. Courtesy Jonathan Lau’s marketing blog.Listening: Power of sentimental analysisFollowers are actively commenting on social networks and blogs. Technology today is offering alimited but valuable set of analysis possible by automatically comprehending the underlyingsentiments. At the core of such a technology comprehensive taxonomy definition helps the textsearch tools to decide different relevance and weight the sentiments as positive, negative, alert,innovative, influencing, loyal etc.,Following uses are recorded from our experience from such an analysis:
  • A whitepaper fromManthan Services© 2012 Manthan Services, All rights reserved Page | 5Sphere of trust: Enterprise social information strategy1. General activity around “a search term” or “a topic” on the social media – helps in a dipstickassessment of the followers emotional trends2. Food and drug administration (FDA) in United States is increasingly getting vigilant around drugsafety. FDA themselves are turning slowly towards social data to quickly sense drug safetyconcerns from the patients. Pharmaceutical manufacturers have been for long ignoring to invitedrug safety information from social networks. Very soon they will see themselves increasinglyresearching on social information to of course unearth what is a right alert and what is not3. Real estate and other customer centric service organizations are mining customer experience toimprove their customer touch points thereby improving overall customer satisfaction. They realizejust surveys are not really helping them get close to the emotional levels of their followers4. Several manufacturing companies are learning from their consumers, different creative aspects ofusage of the products they sell. Example a manufacturer of plastic film might not have acomprehensive understanding of the usage patterns of their products, which could be verycreative some times. So learning the innovative application of their products, they are able toeither create more suitable bundling of their products or prepare the product more usable forspecific purposes5. And employees are the critical assets for any organization. Employee dissatisfaction causes anegative recall in the society for an employer. Global employers are more curious to understandthe sentiments of their employees in far off lands away from their corporate office. Listening ishelping them to improve their processes, policies etc.,Social data: Helping strategic analysisSo far the discussion centered on intelligence possibilities from social networks, blogs etc., On theother hand, mining and integrating information shared on the public domain is also proving verycritical for creating enterprise strategies. Few examples from our experience worth a note here:1. Google has taken a lead in creating a retail shopping / price comparator tables across websitesand offer at shopping.google.com. But the prices crawled by Google may or may not be accurateas the websites keep changing the prices when the visitor actually goes to the last page to pay forthe item in the shopping cart, after navigating through Google. We have solved problems ofcomparing wholesaler site price to retail competitor price for rapid price decisions2. Another application of social data is leveraging information from economic forums to help inpricing strategies for emerging markets where not much of information is available to forecastthrough qualitative studies. This is more common in Pharmaceutical companies.3. Comparing a product specification with that of competitive products for improved marketintelligence to be launch in the new marketsSocial information strategy: A CIO concern?Social information is becoming more critical for enterprises but at the same time is very creative. Inseveral organizations different business leaders champion the strategies with case to casepartnership with CIO organizations.
  • A whitepaper fromManthan Services© 2012 Manthan Services, All rights reserved Page | 6Sphere of trust: Enterprise social information strategyAt Manthan Services, we are of the opinion that enterprise information management and reportingtools are still not matured to address the creative element associated with Social information. It is truewith technologies like industrialized web crawling or text parsing or text research or Big data or evenmachine learning on vast amounts of information. Additionally harmonizing such information assetswould require an involved manual research.As a start to prove the value, prototyping such an analysis can be outsourced before enterprisestransfer back the automation into their regular operation from time to time. As a simple case forprototyping, organizations can start with social intelligence in conjunction with ecommerce web loganalysis.ConclusionSocial intelligence is becoming very pervasive and organizations are finding it difficult to ignore. Quitea few proven use cases and emerging technologies are helping organizations integrate Socialintelligence into their new normal. Several organizations have already invested into their partners tocreate a conduit of social intelligence to help their business focused teams. Clearly it going to beCIO’s concern to establish governance for social intelligence. Good news is there are very frugalways to outsource such an analysis to prove the value to the business before any significantbudgetary commitment.Manthan is a chief analytics officer for several retail and consumer centric enterprises. As part of Manthan services we arehelping our customers with a unique portfolio of research, analytics and advanced information management productizedsolutions and services. We are constantly researching and helping enterprises invite social intelligence into their organizationsin an agile and cost optimized manner to prototype and pilot strategies rapidly and improve their competitiveness.