Using Media Intelligence to Inform Strategy and Measure Success
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1. External data from sources like news, social media, and big data analytics is becoming one of the richest sources for business insights and strategic decision making. 2. Executives will increasingly look beyond internal reporting and focus on understanding external data to anticipate what is happening and where opportunities may arise. 3. Media intelligence and monitoring will become a core strategic function for companies rather than just focusing on measuring mentions. 4. This shift towards externally derived insights will change the way companies are run and decisions are made in real-time. 5. Marketing and communications departments have an opportunity to play a strategic role by helping analyze external data and provide valuable insights to senior leadership.
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Using Media Intelligence to Inform Strategy and Measure Success
- 1. #MWBrainFood
- 2. #MWBrainFood Kaveh Rostampor Meltwater Executive Director
- 3. OUTSIDE INSIGHTS Using media intelligence to inform strategy and measure success
- 4. 3Propositions Company decision making will change Media intelligence will become strategic MarCom will be elevated to a strategic function
- 5. #MWBrainFood Summer 2001, Start capital: 15.000 USD5
- 6. #MWBrainFood Meltwater: Global leader in news & social media analytics FOUNDED 2001 in Oslo, Norway HEADQUARTERS in San Francisco 1000+ employees worldwide 23,000 corporate clients 50 offices across 6 continents Built without external funding $15k
- 7. #MWBrainFood Informed Decisions 2001 Product Vision Morning coffee clients own brand competitors leads partners product reviews own industry
- 8. #MWBrainFood “Every two days now we create as much information as we did from the dawn of civilization up until 2003” - Eric Schmidt Executive Chairman, Google
- 9. #MWBrainFood Big data company: We process 100 million documents and 2 trillion searches every day data capture data enrichment proprietary search engine real-time analytics
- 10. #MWBrainFood We track Leading Performance Indicators (LPIs) real-time analytics Client Satisfactions Industry Trends Competitive Intelligence Brand Perception Share of Voice
- 11. #MWBrainFood Lagging Performance Indicators 30 years of rigor in mining internal data... BI ERP SFA CRM MRP SCM …is being disrupted by an explosion of external data Leading Performance Indicators Product reviews Hiring patterns Competitor analysis InvestmentsClient satisfaction Employee behavior Real-time 3rd party data. Benchmarked A shift in focus from internal to external data Fire wall
- 12. #MWBrainFood Hiring pattern based on location Cision Lexis Nexis Meltwater
- 13. #MWBrainFood Cision Lexis Nexis Meltwater Hiring pattern based on type
- 14. #MWBrainFood Hiring pattern based on level Cision Lexis Nexis Meltwater
- 15. Mining internal data is looking at history
- 16. Mining external data is looking at leading performance indicators and the road ahead
- 17. External data is added to the decision process New data Timing Benchmarking DECISION MAKING IS CHANGING IN 3 KEY ASPECTS Decisions are moved from after-the-fact to the point when events start to unfold Move from isolated analysis to real-time benchmarking with peers
- 18. #MWBrainFood19 The increased complexity drives the development towards more data assisted decision making
- 19. #MWBrainFood20 So what are the consequences?
- 20. #MWBrainFood Executives will look beyond rear-view mirror reports and develop a large appetite to understand external data and the road ahead
- 21. #MWBrainFood s 22 Decision making will look like a massive A/B testing exercise in real-time as events unfold
- 22. #MWBrainFood23 The new guest of honor in the board room will be an analytics engine benchmarking your company with competitors in real-time on leading performance indicators
- 23. #MWBrainFood A new, large software category will emerge News clippings Social media analytics Big data analytics based on a wide range of external data types 1st Generation 2nd Generation 3rd Generation
- 24. #MWBrainFood MarCom has the opportunity to fill the void Moving from mentions to leading performance indicators and business insights Combining media intelligence with insights found in other external data types Move from justifying budget spend to support key decision making Analytics Beyond media Resource to CXO
- 25. Summary 1. External data is becoming one of the richest sources for business insights 2. Executives will look beyond their internal reporting systems in order to understand what is happening 3. Media Intelligence becomes strategic 4. The way companies are run will as a consequence change 5. MarCom can help provide valuable insights to aid strategic decision making
- 26. #MWBrainFood
- 28. #MWBrainFood John Koetsier VP Research, VentureBeat Insight
- 31. there is a lot going on in mobile
- 47. some brands are pretty savvy
- 48. the question is: what are they doing right?
- 49. 12 things
- 50. (we don’t have time for 12 things)
- 57. video 4
- 67. there is a lot going on in mobile
- 68. and there’s a lot more we could talk about
- 70. #MWBrainFood Douglas Karr Founder, Marketing Tech Blog
- 72. The Customer “Journey” & Personas
- 73. Marketing automation Selling refrigerators to starving people.
- 74. ZMOT and MICRO-MOMENTS We know the purchase decision is happening much sooner than before. Google Zero Moment of Truth We also know the purchase is the result of a series of personalized moments. Think with Google Micro-Moments
- 75. Cisco Research on the Customer Journey Winning the New Digital Consumer with Hyper-Relevan
- 76. Motivations that influence purchase When do people purchase? 1. Efficiency - When it makes life easier. 2. Emotion - When it makes life happier. 3. Facts - When it makes sense. 4. Trust – When they trust you.
- 77. Motivations vary and overlap Efficien cy Emotion Facts Trust
- 78. Practice versus reality We create content that: • Entertains • Inspires • Educates • Convinces We should create content that: • Feeds Intent • Feeds Motivation • Feeds Needs • Feeds Emotion
- 79. Example: Healthcare - efficiency • Looking for a quick and efficient visit • No patience for long waiting times • Often look for the “best” in the business • Will often choose convenience • Have a tendency to “put off’ healthcare needs because of time • Impressed by awards won and academia achieved • Want an office that looks clean and is up to date with latest technology
- 80. Example: Healthcare - EMOTION • Needs their doctor to be likable and friendly • Want a physician who will listen to them • Up to date waiting area aesthetically pleasing • Short wait times, bored easily • Like “popular” doctors • Being treated like a friend by all staff is important • May choose an attractive doctor first • More willing to try “alternative” medicine
- 81. Example: Healthcare - Facts • Will likely have the same doctor their entire life • Testimonials are important • Need a warm and friendly, family oriented atmosphere • Need to know How things are done • Appreciate a traditional approach • Doctor must be thorough and not rushed
- 82. Example: Healthcare - TRUST • Couldn’t care less about aesthetics • Most concerned with education and experience • Traditional doctors only, no whacky experimental stuff • Physician must dot every “i” and cross every “t” • No detail or possibility left undone. • Need and overly cautious and worrisome physician.
- 83. How we comprehend • Visual • Auditory • Kinesthetic Integrated • Whitepapers • Infographics • Podcasts • Videos • Real Photography • Real Stories
- 84. The reality of marketing
- 85. THE PERFECT FOOD.. ER.. CONTENT
- 86. PERSONALIZATION + real-time = brand control Providing a seamless, personalized experience reduces consumer friction, reduces reputation issues online, and increases customer satisfaction. Word of mouth and testimonials drive greater trust, greater (good) visibility. Social monitoring is imperative.
- 87. Machine learning + infinite customer journeys Optimove
- 88. MELTWATER - Taxonomy, ontology, Lexical Onomies Analyzed 600,000 social & search terms Developed Conversatio n Cloud Onomies Analyzed Engagemen t by Social Channel Implemente d Site Hierarchy, Audited Existing Content Reproduce d Existing Ranking Content Trained Editorial and Social Staff on Optimizatio n Integrated CMS social sharing capabilities Aligned PR and Content Promotion
- 89. RESULTS OF content authority 1. Less Content 2. Improved Content 3. Researched New Content 4. Coordinated Promotion
- 90. Profitability and ATMOSPHERIC MARKETING
- 91. STILL HUNGRY? Research, discover and learn how technology can help you. Subscribe to our Daily or Weekly Digest to get our content delivered in your inbox! Marketing Technology Blog https://www.marketingtechblog.com
- 92. #MWBrainFood Panel Discussion Wal-Mart Entering the e-Commerce Grocery Business
- 93. #MWBrainFood
- 94. #MWBrainFood Q&A
Editor's Notes
- It’s great to see so many clients and so many people here today! Thank you for making it here :) My name is Kaveh Rostampor – I am from Sweden in Scandinavia and live in San Francisco where we have our head quarters, I am head of the organization in North and South America. We did a rebranding and repositioning of Meltwater a few months ago on the back of a 25million dollar investment in technology – today I’m going to talk about what we see quickly approaching on the horizon. And what impact we believe it will have for everyone in this room!
- I’m going to share 3 propositions that we in Meltwater think will fundamentally shape your industry and how you and your peers are working. Of course all of you in this room working with MarCom consider your role strategic, and it is, but I’m talking about elevating it much further than it’s considered today.
- The propositions on the previous slide might seem bold, but we have seen this industry shape up for a long time. Meltwater started almost 14 years ago… The picture is showing our server park consisting of a bunch of used computers monitoring 13 Norwegian news papers. Very differently from a lot of other startups these days, we started out with very limited funding.
- Today we are an international company, and global leader in news and social media analytics. We are a 1000+ people today in 50 offices on 6 continents. And with 23,000 clients all over the world.
- We work with clients from all industries and fields. Fortune 500 companies (GE, HP, Nike, Oracle), top universities (Harvard, Oxford), the biggest NGOs (Unicef, Greenpeace) car companies (Volvo, BMW, Audi, Tesla), list goes on from small to large organizations. I’ve included some Finnish clients here as well …..
- We had a product vision back in 2001 which we are still staying true to; When a decision maker is having her morning cup of coffee they should be able to very quickly get an understanding of what has happened in their echo system over the last 24 hours. Up to date information about your own brand, competitors, products, clients or your industry should help you stay on top of things and make more well informed decisions. As we believe our 2001 product vision is more relevant than ever.
- A LOT has happened since we started Meltwater in 2001. As Eric Schmidt said, “every two days, we create as much information as we did from the dawn of civilization up until 2003” It’s a BIG Data world out there. It’s mind boggling numbers we talk about. And the vast majority of the information is publically available for everyone to process and take in.
- We started out monitoring 13 Norwegian newspapers 14 years ago, today we process over 100 million documents and do 2 trillion searches. PER DAY. We capture it from numerous sources (News, social channels, blogs, forums, public records, etc.), we enrich the data (geography, sentiment, demographics), we index the data and make it searchable, and in the presentation layer of the product we produce real-time dashboards with analytics (graphs and insights). A tweet where your brand is mentioned, that is written somewhere, can be displayed in a graph or delivered in your email or to your phone within less than 2 mins. And there are 1000’s of tweets written every second….. But the biggest value does not lie in reading all documents, but to understand the patterns and trends.
- What we do is to track Lead Performance Indicators of your business. What we mean by that is that we help you identify and track indicators that might influence your business in the feature. An example is that you start seeing the share of voice of one of your competitors increasing in Europe – you want to undertand how and if that might effect sales in that region. What would you do today to prevent your competitor eating your lunch in that region in 6 months time? Or it could be that you see the client satisfaction decrease of a certain product – that could be a clear indication that the sales of that product will go down or that you might want to speak to your marketing colleagues to help increase the marketing budget of a certain product line.
- -- New software categories and massive companies have been built the last 30 years based on helping companies crunch and analyze internal data to better understand performance. Software categories like ERP, CRM, Business intelligence and billion dollar companies like Oracle, HP, SAP, IBM and Salesforce have been built from that need. While internal data will continue to be extremely important, we believe it is being disrupted by the explosion of external data. New software categories and new companies will be created from understanding and benchmarking 3rd party external data, in real-time. There’s a goldmine of information and digital breadcrumbs in external data to help understand employee behavior, client satisfaction, for doing competitive analysis, or understand hiring patterns. I’ll give you an example of how studying global job posting can give you a good sense of what your competitors are doing.
- So to summarize and make it very simple... Mining internal data is looking at history….. It’s like trying to drive forward by looking in the rear view mirror : )
- Whereas mining external data is looking at leading performance indicators and the road ahead. Seeing the obstacles, the threats, the opportunities…. The road ahead will be more predictable!
- External data is added to the decision making process We will be quicker at adapting to events as they happen We will continuously benchmark with peers/competitors
- And we will do all this with the help of data power. IBM’s Deep Blue vs. Kasparov back in the late 90’s revealed an upcoming truth: Computer technology had evolved an edge over the most talented and disciplined human minds. IBM’s Watson was kicking everyone’s ass in Jeopardy. Watson could process natural language, resolve linguistic ambiguities and evaluate the puns, slang, nuance and oblique allusions characteristic of a typical Jeopardy. It’s fantastic. Computers will be our tireless assistant in making more well informed decisions.
- So what are the consequences of all this? Looking into the crystal ball
- In real time you test different strategies to understand how your echosystem and competitors react. A competitor is dropping their prices in Europe.. How do you react to that? You can test different strategies and see how they are received and unfold.
- We think this will rise to the top of the companies and into the boardrooms as well.
- Big shocker: lots happening in mobile
- In just 8 years, smartphones have taken over the world 2B on the planet today; soon will be 4, then 8
- Just last year, time watching that small screen in your hand surpassed watching that big screen on the wall
- In 5 years … amount of voice usage has been constant … Data has skyrocketed more than 3400%
- 2/3 of Americans are regularly confronted with mobile ads
- Mobile video advertising is up 61% in the US in just the last year
- And … people are responding.
- M-commerce jumped 123% in Q1 … from the Christmas quarter of 2014
- 100s of mobile ad networks Get better Verve logo?
- Massive complexity in mobile advertising
- Fraud … 6M click study in 2012 found 40% were fraudulent Microsoft: $1B lost to fraud in 2013 Assoc of Nat. Advertisers: $6.3B in 2015 for all digital Bots Stacked banners Invisible video running in 1x1 pixel frame Off-screen ads Tricky links inviting fat-finger clicks
- Add it all up … can be overwhelming for brands
- These guys live here
- Most of these guys … not so much
- We talked to 20 of the leading mobile ad networks, agencies, and players We studied data from over 500 million ad impressions We surveyed 1500 Americans
- We think we found 12 things Found plenty that’s wrong, too … but we’ll save that for another night
- Small problem …. we don’t have time for 12 things But … I’m going to highlight the most important ones And … if you want all the data and insights from the report … I’ll give it to you after this show
- The 12 are in mostly random order … but this is maybe the most important Obvious, maybe, but often ignored
- RevMob YouTube: dance and jump for Carnivale … Used phones motion sensors Captured mindshare: people talking about it S4M Devious Maids: which Maid are you? 80% engagement Opera The CW: Catch the Flash mini-game in the ad 40% who saw the ad … played the game Jaguar: configure the color of your vehicle in the ad
- Geo-targeting; geo-conquesting This: Verve Honda geo-conquesting Toyota The result was an average of 20 seconds attention to the ad, and an increase of 377% in average foot traffic lift, according to a study of 125 geolocated ad campaigns s in the automotive sector.
- Almost 75% of us have tapped on ads for local retailers
- It’s always good to have data, and location data is important data But you have to be careful with a point in time … geo-history is more valuable Single points can be dangerous Berlin … Wasteful and annoying
- Mobile video is HOT Snapchat users watch 2 billion videos a day, just debuted 10-second video ads Spotify has plans to unveil a video offering in addition to its music play Online community Reddit just launched video in May Twitter is building a sort of native-advertising-meets-video for Periscope and Vine, its two video properties Facebook launched 15-second video ads for Instagram late in 2014 Google, of course, has had video ads on YouTube for year And Facebook is starting to challenge YouTube for video views with over 4 billion video views daily in April … up 25% in just three months
- Remember this slide? There’s a reason we’re pumping all that data out, and it’s called mobile video As we’ve already seen, mobile video ad spend doubled from 2013 to 2014, reaching $1.4 billion. It’s likely to double again this year and hit almost $7 billion in just a few short years. Question of course: is it working?
- In a study covering tens of millions of mobile ad placements, Millennial Media found that video ads generally average 5X the engagement of static banner ads. That ranges from lows of 2-3X in the automotive and entertainment verticals, to 6-7X in the finance, retail, telecom, and technology services spaces. Despite those outsized engagement numbers, only 27% of entertainment campaigns use video, and only 10% of automotive. Interestingly, despite the fact that consumer goods video ads generate 561% more engagement, only 22% of consumer goods campaigns use video.
- Land Rover uses a lot of native advertising. The company commissioned a story on smartphones, GPS, and -- of course -- a Land Rover. Published it on Quartz, a very visual news site, and tied it into the commissioning of an interactive game, available on the web and mobile, based on The Vanishing Game by novelist William Boyd. “People were interested in the content and shared it,” says Kyaw.
- Native content fits right in where mobile ads are most effective … in the stream of content. In fact, ads on the News Feed (both desktop and mobile … but especially mobile) were both the cheapest for brands per-click and the most successful (i.e. highest clickthrough rate) ad placement type in 2014 Guess what works best there? Content similar to what people are seeing from their friends. Native content.
- I’m sure everyone recognizes this … Perhaps the best example of brand spontaneity … Bonin Bough … Oreos during super bowl power outage … But … failure But, Bough now says, that brilliant real-time social media success was also a “huge failure.” "On one hand, Dunk in the Dark was a huge success, but in reality, it was a huge failure," Bough told Fast Company. "Imagine if at that moment we had been able to programmatically change every piece of media that we were buying to turn on the Oreo ad."
- Adidas had its Oreo moment in the last men’s World Cup of soccer Both teams in the final sponsored by Adidas Minutes after winning … special jersey available No-one knew Now: Thomas Muller scores fro Bayern Munich … jersey available … ad running … 6.6% CTR “You can have your lawyer in the room, and you can have your creative set up,” says von Cranach.
- Ecosystem What’s not working Fraud Local and beacons
- That’s what the report is for You’ll get it … bounce around it in … enjoy But now it’s time for the panel …
- Meltwater’s new real-time monitoring. Dashboards are updated in real-time with automatic reporting.
- Synonomy – similar terms used for the same topic. Antonomy – opposing or differing terms associated with the topic. Hyponomy – specialty terms associated with the topic. Meronymy – the parent topic(s). Holonymy – the subtopic members
- 17 million pages, black-hat SEO No ranking above page 2 No sharing or promotion alignment Increased site ranking, conversion rate by 23%
- One of the most important recent advances in business thinking is the recognition that people, in their purchase decision-making, respond to more than simply the tangible product or service being offered. The tangible product – a pair of shoes, a refrigerator, a haircut, or a meal – is only a small part of the total consumption package. Buyers respond to the total product. It includes the services, warranties, packaging, advertising, financing, pleasantries, images, and other features that accompany the product. Philip Kotler, 1973, Journal of Retailing