Adapting to the demand economy with real-time consumer data
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Adapting to the demand economy with real-time consumer data

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Prepared by Jason Kapler for the 2011 IAB MIXX Conference

Prepared by Jason Kapler for the 2011 IAB MIXX Conference

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Adapting to the demand economy with real-time consumer data Adapting to the demand economy with real-time consumer data Presentation Transcript

  • ADAPTING TOTHE DEMAND ECONOMY WITHREAL-TIME CONSUMER DATA
  • IS YOUR MARKETING IN SYNC? In today’s demand economy consumers watch your brand’s commercials on fast forward, visit your websites when they want, and “Like” your Facebook Fan pages to learn about promotions. This multi-channel media consumption not only happens on multiple screens, but in the span of a few minutes! Activating cohesive marketing campaigns can be the difference between conversion orTRENDS, LIKE HORSES, ARE EASIER TO clicking the back button. Real-timeRIDE IN THE DIRECTION THEY ARE GOING. data provided from conversations in social media offers a window - John Naisbitt into marketing performance from the unvarnished voice of your consumer.   Property of Networked Insights
  • 93% OF U.S. ADULT INTERNET USERS ARE ON FACEBOOK THE WORLD IS 152 MILLION U.S. BECOMING MORE & FACEBOOK MORE SOCIAL USERS Across the world people are 164 MILLION spending more time with social 4.6 AVG HOURS/ WEEK U.S. media than any other online SPENT ON THIS INTERNET ONLINE ACTIVITY, activity. In response to this trend USERS WORLDWIDE brands have developed presence on numerous social websites. 3.7 4.4 Being accessible to advocates is important and provides a direct 2.9 communication channel. 2.3 2.7 Increasingly, the ability to monitor conversations about your brand, competitors and category is 1.8 proving invaluable in understanding the behavior of the modern digital consumer. SHOPPING BROWSING GAMING MULTIMEDIA SOCIAL NEWS EMIAILProperty of Networked Insights
  • U.S. INTERNET USERS SPEND 3X MORE MINUTES ON BLOGS & SOCIAL NETWORKS THAN ON EMAIL SOCIAL MEDIA VIDEO/ MOVIES 4% CONVERSATIONS PORTALS 4% ACTIVELY INFLUENCE EMAIL PURCHASES 8% ONLINE GAMES 10% Consumers are doing more research, SOCIAL NETWORKS/ visiting product review websites and 24% BLOGS subject-matter expert’s blogs to inform purchase decisions. Additionally, 55% 55% consumers are telling you more about ON SOCIAL MEDIA themselves than ever before on blogs, 51% I’M MOST INFLUENCED BY… forums, social networking sites – both 39% owned and earned. Social media 38% provides the opportunity to influence 35% perception through outbound marketing 26% tactics as well as uncover consumer trends and insights from inbound monitoring and data analysis. The information loop established in offline research techniques is developing online and provides marketers access to real-time consumer feedback FRIENDS PEOPLE LIKE YOU EXPERTS ONLINE FRIENDS RETAILERS INFLUENTIAL BLOGGERS AVG HOURS/ WEEK SPENT ON THIS ONLINE ACTIVITY, WORLDIWODEProperty of Networked Insights
  • REAL-TIME DATA ALLOWS MARKETING TO SYNC WITH CONSUMERS Social media data enables a new SOCIAL MEDIA breed of agile marketing techniques informed by real-time consumer insights, minimizing the need for PROVIDES THE marketers to rely on antiquated measurement and reporting practices. OPPORTUNITY TO Previous methods of understanding consumer behavior weren’t designed to keep pace with a consumer who WALK WITH makes decisions at the speed of “click”. By the time survey data or CONSUMERS focus group information is distilled and delivered to an activation team, your consumer has already changed. Digital marketing now requires real-time methods to track consumer behavior, uncover patterns, and discover insights that are actionable this week!Property of Networked Insights
  • HOW DO YOU CURRENTLY GATHER CONSUMER DATA? DEMAND ECONOMY TODAY’S TYPICAL REQUIRES SOURCE TIME/COST ANALYSIS SAMPLE SIZE MARKETING TO SYNC SEGMENTATION FOCUS GROUPS/ 5-500 MONTHS/ WITH CONSUMERS SURVEYS/PANELS $500 -1MM+ BRAND & E OR Q SCORES/ Good news! More data clarifies, it PRIVATE 500 DAYS/$20K CELEBRITY COMMUNITIES doesn’t complicate. Information need not be an either or SUBSCRIPTION/ proposition. The opportunity for TV/MEDIA NIELSEN 35,000 $500 K+ brands is to determine the right blend of consumer data and MARKET SIZING/ research techniques that are most McKINSEY/ COMPETITIVE BOOZ/BCG 5-500 MONTHS/$1MM+ effective to fuel performance in the ASSESSMENT demand economy. Real-time data is complimentary to all ongoing HOW FAST CAN YOU ACT ON THIS DATA? efforts to develop market, CAN YOU ACT ON TRENDS FROM THIS DATA? consumer, and audience ARE YOU UNCOVERING TIMELY INSIGHTS THAT ARE ACTIONABLE? intelligence. The question for marketers now: are the insights you’re collecting opportune or has your consumer changed their mind?Property of Networked Insights
  • PRESENT CONDITIONS THROTTLE MARKETING AGILITY BRANDS MARKETING USED TV/MEDIA TO BE SIMPLE MUSIC When the media world was lessCELEBRITIES fragmented and before your consumer had a megaphone that TOPICS could influence millions, marketing was simple. The consumer data GAMES collected could be synthesized and applied by brands at a rate that MOVIES JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC reflected the pace of marketing optimization. Before the demand DECISION DECISION DECISION economy, brands could afford to evolve at their pace. Today, the consumer will be attracted to the brands that understand them and DATA SOURCES* their changing wants, needs, and FOCUS GROUPS SURVEYS, PANELS desires. E/Q SCORES PRIVATE COMMUNITIES NIELSEN McKINSEY/BOOZ/BCG Property of Networked Insights
  • IS THERE ROOM TO IMPROVE? MARKETERS SAY YES! HOW LONG CAN WE “THINKING OF THE SYSTEMS AND METRICS USED TO MEASURE MARKETING EFFECTIVENESS AND ROI, HOW MUCH DO YOU AGREE WITH FOLLLOWING?” IGNORE TODAY’S CHALLENGES COMPARING MARTKETING EFFECTIVENESS ACROSS 59% AGREE MEDIA (TV, INTERNET, Many of the strategies, tactics, PRINT, ETC.) IS A CHALLENGE FOR MY and processes employed to COMPANY execute marketing programs today are 20, 30, or 50 years old. Sure, I WISH IT WERE EASIER TO COMPARE TV RATINGS 70% AGREE many principles and techniques WITH ONLINE DATA are everlasting, but we must admit that much of what we do wasn’t designed for the internet or internet USAGE 65% AGREE consumers who could influence MEASUREMENT IS MORE USEFUL THEN the opinions of thousands. TELEVISION VIEWING MEASUREMENT Marketing measurements and decision processes are ready for 0% 20% 40% 60% 80% 100% improvement. A real-time data layer from all digital sources – COMPLETELY SOMEWHAT SOMEWHAT COMPLETELY paid, owned, and earned media – NEUTRAL DISAGREE DISAGREE AGREE AGREE can make the difference between feast or famine in the demand economy.Property of Networked Insights
  • CAPITALIZING ON CONSUMER TRENDS Consumers are currently going through an evolutionary leap similar to the one brought on by the wide adoption of the internet. Today, mobile and social technologies are accelerating the rate of change at a pace never before experienced. Marketers are left with the choice to embrace change or not. New capabilities offer new opportunities BRANDS ARE LETTING for brands to delight consumers. OPPORTUNITY SLIP The winning brands in the demand economy will be those who are as THROUGH THE CRACKS agile as their consumers.Property of Networked Insights
  • READY, SET, PIVOT There was a time when consumers weren’t communicating publicly across the internet and marketers employed a myriad of research techniques to gather intelligence and uncover insights. Many hours were spent gathering and synthesizing this data to make marketing more effective. Today, marketers have a new reality: data everywhere. The task has thus shifted from uncovering REAL-TIME CONSUMER information to applying DATA IS EVERYWHERE information. Real-time data now allows marketers the ability to query consumers at every decision point.Property of Networked Insights
  • KNOWING WHAT IS IMPORTANT STOP GUESSING ABOUT WHAT YOUR TARGET CONSUMER LIKES When a brand works to stay in sync through real-time data, knowing consumer preference begins to make marketing decisions easier. Allowing your target audience to tell you the topics that interest them improves marketing strategy, advertising, media planning, media buying, celebrity endorsement, sponsorship and product placement.Property of Networked Insights
  • SMURFS FRAGRANCE ALBUM KATY PERRY MADONNA COMEBACK BONO WEDDING DIVORCE JENNIFER LOPEZ AMERICAN IDOLSISTERS KIM KARDASHIAN MINIMIZING RISK KANYE WITH MARKETING MAGAZINES CHARLIE INVESTMENTS SHEEN POLAROID Knowing the themes within a topic LADY GAGA is helpful, but knowing the conversation focus is powerful. Having accurate information about CLOTHING how your consumer is talking HEIDI KLUM VIRGIN MOBILE about a topic can make all the difference in a successful product launch. This isn’t merely social intelligence across the entire web, this is insight into a specific audience segment and what’s important to them. JUSTIN BIEBER Property of Networked Insights
  • CASE STUDIESProperty of Networked Insights
  • AUDIENCE SYNC TO MAXIMIZE REACH SITUATION FIND AUDIENCE AND EXTEND BRAND DEEPER INTO THEIR AWARENESS SOLUTION TARGET SPORTS ENTHUSIASTS (PREMIUM AUDIENCE) RECOMMENDATIONS ADVERTISE TO A HYPER SEGMENT OF SPORT ENTHUSIASTS WHO SAID THROUGH SOCIAL MEDIA THAT THEY WATCHED A TV PROGRAM AFTER THE LIVE BROADCAST RESULTS REACHED A NEW PREMIUM AUDIENCE AT DISCOUNT, INCREASING REACH AND BRAND AWARENESSProperty of Networked Insights
  • AUDIENCE SYNC TO MAXIMIZE A NEW LAUNCH SITUATION LOCKED OUT OF BROADCAST ADVERTISING NEEDED TO FIND VIEWERS (CUSTOMERS) INTERESTED IN SIMILAR TYPES OF TV SHOW GENRES (PRODUCT) SOLUTION DISCOVER THE PREFERENCE CHARACTERISTICS CONCEALED IN COVERSATIONS RECOMMENDATIONS FUEL SOCIAL MEDIA ACTIVITY AROUND POPULAR THEMES & STRATEGICALLY INTRODUCE CONTENT TO ACCELERATE CONVERSATION MOMENTUM LEADING TO PREMIERE RESULTS NEW LAUNCH WAS A HUGE SUCCESS, AUDIENCE CULTIVATED IN SOCIAL MEDIA TRANSFERRED TO TV, SHOW RENEWED FOR ANOTHER SEASON, INCREASED AUDIENCE BY 20%Property of Networked Insights
  • AUDIENCE SYNC TO OUTSMART THE COMPETITION SITUATION SOMETIMES COMPETITORS BEAT YOU TO THE PUNCH AND BUY AN EXCLUSIVE ADVERTISING OPPORTUNITY SOLUTION IDENTIFY THE SAME AUDIENCE ONLINE AND DISCERN THE RIGHT CONTENT TO ATTRACT COMPARABLE MEDIA SPEND RESULTS SAME RESULT, DIFFERENT COST - MADE $2 MILLION DOLLARS PERFORM LIKE A $10 MILLION DOLLARS AD BUDGETProperty of Networked Insights
  • WHY NETWORKED INSIGHTS? WE MAKE MARKETING DECISIONS EASY The demand economy has put an increased burden on brands to align with their consumers across the media spectrum. Networked Insights provides the ability for marketers to adapt to the shifting behavior and sentiment of digital consumers. Real-time data informing every day decisions in order to maximize marketing performance. EXPERIENCE For more than five years, Networked Insights has been analyzing social data for leading brands and agencies. We combine technology prowess, analytical expertise, and proficiency in uncovering consumer insights in every business problem we tackle.Property of Networked Insights
  • LEARN HOW NETWORKED INSIGHTS MAKES MARKETING DECISIONS EASIER DOWNLOAD GUIDES 1. ANATOMY OF SOCIAL ANALYTICS 2. SEMANTIC VS SENTIMENT ANALYSIS REPORT 3. HOW TO SPENT THE MINIMAL EFFECTIVE AMOUNT DOWNLOAD REPORTS 1. TRUE BLOOD SOCIAL INTELLIGENCE REPORT 2. LADY GAGA SOCIAL INTELLIGENCE REPORT 3. SOCIAL LIFT REPORT 4. MARCH MADNESS REPORT INTERESTED IN LOOKING AT A SAMPLE BRAND REPORT? FOLLOW US: Twitter Facebook LinkedInProperty of Networked Insights