Social Listening – Gateway to Innovation

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Social Listening - Gateway to Innovation
Malcolm De Leo
Chief Evangelist
@innovationmuse
Innovationmuse.blogspot.com
#SocialListening #SocialData

How to be a Real Time Marketer
Malcolm De Leo
Chief Evangelist
@innovationmuse
Innovationmuse.blogspot.com

POLL #1
How much do you trust social media to help you run your
business?
a) A lot
b) Thinking about it
c) Not sure
d) Not so much
e) No freaking way

POLL #2
As a consumer, how often do you turn to social media to help
you make decisions like what movie to go see, which appliance
to buy, where to go on vacation etc?
a) Multiple times a day
b) Once per day
c) Once a week
d) Once a month
e) Never

Social Media Listening’s Business Reality Continues
The cultural conundrum
• Consumers
trust social
data for
decisions
• Businesses are
lagging in their
trust
business
public
Social Media maturity
adoption

What is the marketplace’s current balance?
The market continues to focus on creating content more than understanding it…
Social
Marketplace
Corporate
Landscape
Push
Content
Pull
Data
Insights
ROI
Correlation
Engagement
Message
Interaction
~30% of
Market
70% of
Market
Our need to understand only grows as the
total volume continues to accelerate…

Why is pull important?
Social
Marketplace
Search for lead user insights
Understand day by day emotion
Evaluate my campaign during and after
Create a 360 view of the problem
Trending
Product Innovation
Brand Health
Competitive Intel
Product Launch
Campaign Tracking
Crisis Management
Risk Management
Use Case Type

Why is pull important?
Social
Marketplace
Search for lead user insights
Have an informed product strategy
Understand day by day emotion
Be proactive and targeted in messaging
Evaluate my campaign during and after
Improve your engagement effectiveness
Create a 360 view of the problem
Use knowledge to respond appropriately
More
Targeted
Push
Trending
Product Innovation
Brand Health
Competitive Intel
Product Launch
Campaign Tracking
Crisis Management
Risk Management
Use Case Type

The How Much vs. The Why?
• How much is about data…why is about insight
• How much tells you its changing…why helps you understand
• How much is what you see…why is about what you believe

How are social analytics evolving?
The days of watching the motion in the ocean are over
Tool Focused
use cases measure
changes
• Social Customer Care
• Crisis Mgmt/Issue Tracking
• Real Time Analytics
• Advertising Effectiveness
• M&A Due Diligence
• Social Selling/Intent to Buy
• Number of Mentions
• Influencer Identification
• Number of Conversations
• Engagement Rate
• Brand Sentiment
Process Focused
use cases create
business impact

Integrating Social Listening into your organization
We spend too much time picking a tool and forget it is only the first step
Tools Process Culture
How can I
get my
arms
around it?
How do I
get them
to believe
in it?
How can I
get
everyone
to do it?

Why Incorporate Social Listening into NPD
• Delivers more accurate and
meaningful emotional data
• Fills in information gaps
• Enables you to test what you
think you know
• Provides the online
equivalent of “living with the
tribe”

Get Forward-Facing Data
• Traditional approach: use post-mortem data on sales
numbers, market size, historical financials
• Social listening monitors and measures responses to your
messaging
• Use netnography to listen to individuals who are passionate
about the subjects you’re researching

Make Real-Time Course Corrections
• Collapsing product cycles require rapid course corrections
based on real-time data
• Social listening supplies real-time data
• Example: We learned our target customers behave like
fashion buyers, wanting new products and product extensions
• Course-corrections during launch can optimize success of the
launch and ultimately the product

Best Practices for Incorporating Social Listening
• Stop thinking you’re in the “transaction” business
• Look for emotional insights and ways to deliver value across
the customer journey
• Identify and deliver more of what people love
• Search for keywords—Use Google AdWords keyword
generator

How Not To Use Social Listening in NPD
• Don’t use it for risk management
• If you do, you won’t find insights that drive better design
inputs
• Be brave—Look for opportunities
• Used properly, it helps deliver great products—the best
possible form of risk management
• Don’t drop it into stage gate as it’s not always linear
• It’s not a POM activity

POLL #3
How are you using Social Analytics today?
a) For product launches and new ideas
b) For campaign management
c) To hear what is being said about competitors
d) Other

Case Study
Nicholas J. Webb
Inventor, Author

Love
• Super fun
• I’m addicted to them
• Love the designs
• Great packaging
• Perfect gift for birthday parties
• Fun colors
• Easy
• Fan

Hate
• Cost
• One time use just a three-dimensional puzzle
• Square
 You can’t make arches
 You can’t make organic or radial structures
 Limited
• Hard to take apart
• Limited connection points (Two channels)
• They don’t teach anything except how to read a step-by-
step instruction manual. We don’t need a generation of
replicators we need innovators

They don’t teach anything except how to read a step-
by-step instruction manual. We don’t need a
generation of replicators we need innovators –
Develop an educational community and product
specific educational material to teach iterative
ideation, social collaboration and other key
educational targets

One time use just a three-dimensional
puzzle
Develop a open ended system that makes
the play experience dynamic

Square
• You can’t make arches – design something that
creates arches
• You can’t make organic or radial structures
include radial structures
• Limited – increase connection points from two
points of connection to 10 points of connection

Hard to take apart – make them so
they’re easy to take apart

Limited connection points (Two channels)
– go from two channels to ten channels
of connection

Cost
Can’t compete with Legos vertical
integration and manufacturing so invent
a product that is non-terminal

Using Social Listening to Develop Hänz
• Our theory: We can use social listening to
replace VOC, CRM and conventional
market data to drive design inputs
• Our belief: This approach can result in
tens of millions of dollars of added value
for enterprises
• We used social listening to drill deep
rather than wide
• Researched LEGO to find what consumers
like and dislike, trajectory of usage, other
factors

Lower Cost for Finding Insights
• Even “new” yearly studies are rear-facing
• Studies can cost $10,000 to $15,000
• Represented half our costs on previous projects
• Principal cost-saving measure: Not buying stale studies
• Result: Reduced cost for finding insights by 43 percent

Hitting a Home Run with Hänz
• Educational toy line—
developed based on social
listening insights
• Launched in 2013—One of
the most award-winning
toys in the industry
• Projections for $8 million
in revenue in 2015

Developing Blended Value
• Taking a risk-centric approach only gives you historical data,
leading to me-too products
• Use social listening to start with a clean slate for your design
process
• Ask “What’s going to supplant the widget?”
• Deliver blended value—we provide STL files so customers can
print their own devices on 3D printers

A New Mandatory Core Competency – Why?
• Social listening—a more direct path to your objectives
• Verify assumptions, listen to the online dialogue within your space
• Find opportunities before the competition
• Mitigate risk by creating successful products
• Developing a skill set around social listening and better insights—
now a mandatory core competency

Shorten Time-to-Design
• Before: Spent three months using traditional techniques to
formulate design inputs
• Before: Used VOC, retail surveys, etc. to find all the data
points we could
• Before: Bought 60 percent more of our data—canned, stale
market surveys
• Now: Use social listening to bring time-to-design down to six
weeks for Hänz
Result: 63 percent reduction in time to give design inputs to
engineering

The Future of New Product Development
• Customer journey focus developing layered and dynamic value
across each and every customer touch point
• Continuous quality improvement through continuous social
analytics
• Chief Listening Officer (CLO)
• Actionable versus conceptual insights
• The ultimate tool to drive breakthrough and disruptive innovation
• The new core competency for NPD executives

Questions?

Special Offer – Free* LIVE Pulse™ for Brand
• Contact us for a 30 min meeting.
• Phone: 1.855.762.6764
• Email: info@netbase.com
*For qualified companies.

Social Listening – Gateway to Innovation

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