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Why Monitoring Your Online Brand is Essential for Business - Dean Westervelt
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Why Monitoring Your Online Brand is Essential for Business - Dean Westervelt

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Why Monitoring Your Online Brand is Essential for Business ...

Why Monitoring Your Online Brand is Essential for Business

Consumers are everywhere online: they write blogs, post comments, and rate their favorite products and services. They share pictures, videos and special deals with their social networks on Facebook, MySpace and Twitter. And if you're not paying attention to what they're saying and sharing about your brand, it could be a lost opportunity or a detriment to your reputation. This session will cover where to begin, understanding your social media readiness, how to effectively listen to your audience, what you can learn from social media monitoring, and how you can measure your results.

Dean Westervelt, Senior Analytics Consultant, Metrics Marketing Group

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  • Twitter is the most popular social media tool among FortuneGlobal 100 companies, with almost two-thirds (65%) having a presence on the social network. At least one-half are reaching audiences through Facebook (54%) and YouTube (50%). One-third maintain corporate blogs.This chart indicates that companies certainly have a presence in social media
  • Global companies with Twitter accounts have an average of 4.2 accounts each, and AT&T, Nokia and Samsung have at least 15 accounts each. In the US, Fortune 100 activity on Twitter over the course of a week is 25 tweetsThe high volume of activity includes news, promotional information, product information, relevant research, customer service and, to a lesser extent, HR postings.US companies have an average of 1,732 followers per account48% of Fortune 100 companies are being tweeted about
  • Forrester Research, Inc. “U.S. Interactive Marketing Forecast, 2009 to 2014,” July 2009.2 imoderate.com, “Engaging Consumers via Facebook, Twitter Makes Them More Likely to Buy, Recommend,” press release, March 10, 2010.3 Ibid.Razorfish – Social Influence Marketing – brand management will require greater transparency and a stronger connectionMAY 4, 2010
  • Forrester Research, Inc. “U.S. Interactive Marketing Forecast, 2009 to 2014,” July 2009.2 imoderate.com, “Engaging Consumers via Facebook, Twitter Makes Them More Likely to Buy, Recommend,” press release, March 10, 2010.3 Ibid.4 BusinessWeek, “Does Social Media Sway Online Shopping?” August 31, 2009.
  • Forrester Research, Inc. “U.S. Interactive Marketing Forecast, 2009 to 2014,” July 2009.2 imoderate.com, “Engaging Consumers via Facebook, Twitter Makes Them More Likely to Buy, Recommend,” press release, March 10, 2010.3 Ibid.4 BusinessWeek, “Does Social Media Sway Online Shopping?” August 31, 2009.
  • Source: MarketingSherpa Nov 2009Determined by integrated processes for the following areas:Intelligence gathering on audience, use and competition Defined objectives aligned with target audience and metrics Strategy with tactical plan of action utilization of platforms that fit the tactics
  • “Some people were asking for help, and others were saying things that weren’t correct,” recalls JetBlue’s manager of corporate communications, Morgan Johnston. He’d been spending time on Twitter search, and he’d realized that JetBlue customers, often on the move, were Twittering about travel problems. “You can only see that a few times before you want to jump in and do something.”Testing the watersHe proposed the idea of setting up a JetBlue account on Twitter and cleared it with marketing and corporate communications executives at his company. They were very supportive—in part because they could start by just dipping a toe in the water. “It helps that as a business, you’re not immediately exposed to hundreds of thousands of people,” says Johnston, who's based in New York. “It’s a slow scaling process.”Gradual growth turned out to be just what JetBlue needed on Twitter, as it gave the company time to learn what worked and what didn’t. Chatty posts and customer service assistance tended to generate a lot of replies and new followers. Press releases announcements were met with silence.From this experience, Johnston hit on what he calls the Twitter “kernel of truth”: be receptive to what your followers want. How do you know what that is? You can gauge their responses to your tweets, and—as it turns out—you can also ask them.When JetBlue faced dead air after pushing out new route announcements, Johnston started wondering what people wanted from the account. So he asked. The responses surprised him. “People said simply, ‘This is what we want. We want to see you asking.’” He adds that people even went as far as to say that they wanted the company to see them as a resource for helping JetBlue deliver a better product.Scaling upJohnston started using the account to ask questions and to post questions and info that people clearly responded to. He also used it quite a bit for customer service—much of which other people don't see because it happens via direct messages (Twitter’s private channel).That approach has helped @JetBlue draw followers, and today, Johnston is assembling a team to maintain the account. In addition to the half dozen staffers who can post directly to the Twitter account, he’s identified key people in departments across the company who can answer questions. Often, for scheduled events, like the announcement of a new policy that might generate a lot of questions, he lines up the right people to help ahead of time.That kind of preparation has helped JetBlue scale up. The next challenge is to staff the account 24/7, so that travelers at any time can get a quick reply.Tearing down the wallsMeantime, the company is pleased with what was initially an experiment. Johnston says that for JetBlue, the success is largely about qualitative rather than quantitative improvements:Our routes mean we’re really susceptible to weather issues, so if there’s a rash of delays, I can say, “Heads up, everybody.” When travelers have more knowledge, it helps them keep calm. That affects their dealings with people in the airports, which reflects back to them. It can change the dynamics in the airport, and that makes all of our lives a lot easier. In addition, Johnston believes there’s value in personalizing the brand.“That’s a clichéd phrase, but Twitter really is about tearing down the artificial walls between customers and the individuals who work at companies.”
  • CMO Club and Bazaarvoice, “CMOs Plan for Higher Social Media Measurability in 2010,” December 2009.Note that case studies in this document still focus on web-centric view of KPI’s
  • http://www.slideshare.net/jeremiah_owyang/altimeter-report-social-marketing-analyticsFrom a recent Altimeter Group / Web Analytics Demystified report titled Social Marketing Analytics: A New Framework for Measuring Results in Social Media:…Social media analytics helps marketers precisely measure the performance of all social media marketing assets and campaigns that generate both direct and indirect traffic to the main website, and assessthe ROI of social media marketing against other onlinemarketing channels….
  • Nielsen BuzzMetrics
  • Nielsen BuzzMetrics
  • Forrester Research, Inc. “How Can Marketers Get Social?” May, 2010accessing: find consumers where they already are (e.g., ZooWorld, affinity social networking sites)online panels still harvest most of the research dollars but questions about projectability and samplingpanelist engagement is falling and panels are thin on long-tailembracing: MROC, blogs, user-generated videoMR is immersive, engaging, and iterativesocial tools promote “natural” expression (versus multiple-choice and focus groups)co-creation and crowd-sourcing innovation and product and service improvementlistening: three types of general researchtracking sentiment on a large scaleuncovering latent needs / use cases (MROCs) -> triangulate online learning with current MRproduct messaging assessment
  • what is being said about you or your products and services?is it positive? negative? where is the conversation occurring?what are some of the overall themes?what is your share of “social media”?who are the influencers (blogs, Twitter)?how do I weed out irrelevance?
  • There are tonsFree SMM: Social Mention, Google Trends, Google Blog SearchCheap SMM: Radian6, TechrigyCustom SMM: BuzzMetrics, Visible, Cymfony, Collective IntellectWeb Analytics + SMM: Omniture, WebTrendsMarketing Measurement Specialists: CoremetricsFull Service Measurement Agency: RazorfishStrategy: Forrester (P.O.S.T.)
  • There are tons
  • Background: Every year during Green Week, BrightTALK hosts an online summit where leaders from business, government, academia and law converge to discuss the best ways to capitalize on the movement toward green and sustainable business practices
  • Intuit strives to integrate “community” and “social” into the company’s desktop products and websitesPosition: General Manager of User-Generated Content, Community, and Social MediaBenefit: Enhanced product developmentProduct: QuickBookscustomer care and relations need access to web-based informationhowever, product development may have benefited the most from social media monitoringIntuit discovered that more small businesses were outsourcing overseas – Intuit added a multicurrency feature into QuickBooks solely based on listening to online chatter and distilling out relevant product details
  • Q: Differentiators of Co-Tweet to other platforms?Clearly overlap enterprise focusEmail messagesStore conversation dataQ: Can you discuss Promotional Tweets?- Starbucks (blogQ: Other tools to help businesses?

Why Monitoring Your Online Brand is Essential for Business - Dean Westervelt Why Monitoring Your Online Brand is Essential for Business - Dean Westervelt Presentation Transcript

  • Why Monitoring Your Online Brand is Essential for Business 
    June 7th, 2010
    6/7/10
  • Today’s Presenter
    Dean Westervelt
    Senior Analytical ConsultantDean's career includes more than 10 years in database marketing analytics and strategic consulting. For the past two years, Dean's focus has been on social media marketing analytics and strategy, with a specific emphasis on synthesizing digital and social media metrics with more traditional analytic approaches.
    Prior to joining Metrics Marketing, Dean was on the management team for a social media analytics firm. His role included managing the client services group and providing thought leadership in terms of measuring and quantifying social media marketing analytics.
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    2
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    Is There Value in Social Media?
  • Confidential
    4
    Consumers are everywhere online: they write blogs, post comments and reviews, and rate or “Like” their favorite products and services
    Consumers share pictures, videos and special deals with their social networks on Facebook, MySpace and Twitter
    Do you know what is being said about your brand online?
    And if you’re not paying attention to what they’re saying and sharing about your brand, it could be a lost opportunity
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  • Finding Value in Social Media
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    Burson-Marsteller, The Global Social Media Check-up 2010
  • Finding Value in Social Media
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    Burson-Marsteller, The Global Social Media Check-up 2010
  • Why Should My BrandCare About Social Media?
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    • 67% of Twitter users who become followers of a brand are more likely to buy that brand’s products
    • 60% of Facebook users who become a fan of a brand are more likely to recommend that brand to a friend
    • Traditional top-down branding will become increasingly impotentas social media grows
    • Consumer recommendations have become the most powerful form of advertising…
    Source: Forester Research, imoderate.com, Razorfish, Nielsen
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    Why Should My CustomersCare About Social Media?
    • 74% of consumers are influenced on buying decisions by fellow socializersafter soliciting input via social media
    • 50% of Internet users research online before making any type of purchase – online or offline
    • Lack of customer reviews on retailer web sites would drive nearly 49% of customers to leave the site
    How often to you share recommendations?
    Source: BusinessWeek, eMarketer, Razorfish
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    Why Should My CompanyCare AboutSocial Media?
    • By the end of 2009, more than 85% of US online consumers will be reading or viewing social content
    • 93% of social media users believe a company should have a presencein social media
    • 85% of social media users believe that a company should also interact with its customers
    Source: Forester Research, Nielsen
  • Where are You in the Social Media Lifecycle?
    A. Dipping your toe in the water?
    B. Looking to transition to something better?
    C. Engaging, converting and measuring?
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  • Of those engaged in social media…
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    40%
    33%
    23%
    MarketingSherpa Nov 2009
  • From Testing the Waters to Scaling to Meet Customer Needs
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    Where Do I Begin?
    Social Media Goals and Strategy
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    Where Do I Start with Social Media Marketing?
    • Clearly define business goals
    • Define marketing objectives
    • Assess social media marketing appetite and ability to engage
    • Define measurement and KPI’s
    • Social Media Monitoring: learning to listen
    Source: Forester Research, Bazaarvoice
  • Social Marketing Analytics is the discipline that helps companies measure, assess and explain the performance of social media initiatives in the context of specific business objectives
    How does your organization currently measure social media?
    Number of followers, fans, subscribers
    Website traffic
    Organic search engine rankings
    Positive sentiment/Q-Scores
    Customer’s served/Issues resolved
    Product/Feature ideas/collaboration
    Sales
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    Confidential
    15
    Social Media Analytics:Definitions
  • Answering measurement questions before you set out helps drive strategy
    An example of tactics and their associated measurement approach:
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    Social Media Analytics:Measurement
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    Social Media Analytics:Potential KPI’s
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    What CanI Do? Listening to consumers
    Social media research trends (2010)
    Access a sample of consumers
    Embrace consumers via social tools (e.g., MROC)
    Listen to audiences by mining the social Web
    Source: Forester Research
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    Social Media Monitoring
    Measuring the Impact
  • Why Monitor Social Media?
    Key Issue
    Marketing departments no longer control the distribution and disposition of information about their company, brand, products, image, and services – the consumer does
    The Reason
    The power of user generated content (UGC) through online social media channels has become a formidable source of influence on brands – consumers trust each other more than companies
    The Enabler
    The internet has become THE source of information eclipsing the offline world of communications – “the world’s largest focus group”
    6/7/10
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  • Why Monitor Social Media?
    Listening and monitoring
    Support loyalty programs
    Influencer identification
    Competitive analysis
    Market research
    Customer support
    Engaging with customers online
    SEO and link building
    Reputation management
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    Social Media Monitoring: basics
    There are five major measurement categories for social media:
    Volume – how much?
    Sentiment or Tone – positive or negative?
    Channel – where?
    Themes – what?
    Influencers – who?
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    Social Media Monitoring: measurement vendors
    Free SMM: Social Mention, Google Trends, Google Blog Search
    Cheap SMM: Radian6, Techrigy
    Custom SMM: BuzzMetrics, Visible, Cymfony, Collective Intellect
    Source: Forrester Wave, Q1 2009, “Listening Platforms”
  • Social Media Monitoring: Learning to Listen
    Monitoring sees trees
    Listening sees the forest
    -MarketingProfs
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    Case Studies
    BrightTALK, B2B, Intuit
  • 6/7/10
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    Social Media Monitoring: BrightTALK Green Week case study
  • Challenge BrightTALK needed a deeper understanding of themes and outreach possibilities, quantifying buzz benefits for BrightTALK and sponsors
    Goals
    What are the green business sub-themes that resonate in the blogosphere?
    What are other blogs and news outlets that we should be targeting with our marketing outreach?
    Which brands have the loudest voices in this space?
    What impact does our Green Week program (content and marketing components) have on key brands/sponsors?
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    Social Media Monitoring: BrightTALK Green Week case study
  • The Approach
    Bi-monthly sponsor report: buzz by sentiment, themes
    Full monthly report: above + “spike analyses” + influencers
    Results
    3,500 engaged business professionals participated
    BrightTALK selected 50 presentations from leading innovators that corresponded closely summit areas of interest based on identification of key topics and themes in the reporting
    Key Influencers for summit topics were identified for outreach to help create buzz around Green Week for BrightTALK
    Understanding Influencers also highlighted where conversations were taking place
    Increased social media activity was observed not only for “BrightTALK Green Week” but also for select sponsors (IBM, Intel)
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    Social Media Monitoring: BrightTALK Green Week case study
  • MONITOR THE MARKET CONVERSATION
    IDENTIFY & ENGAGE THE INFLUENCERS
    UNDERSTAND THE IMPACT
    MAXIMIZE DIGITAL ASSET DISTRIBUTION
    EMPOWER CONSUMER ADVOCACY
    Social Media Monitoring: B2B CLIENT case study
    Establish credibility and trust through a stepped approach that includes an action-feedback loop…
    29
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    Social Media Monitoring: B2B CLIENT case study
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    Social Media Monitoring: Intuit case study
  • Questions?
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  • Metrics Marketing Group Free Webinars
    Why Monitoring Your Online Brand is Essential for BusinessJune 9, 2010 12:00 PM - 1:00 PM ESTPresenter: Dean Westervelt, Senior Social Media AnalystLearn more at http://events.metricsmarketing.com
    When & Why Segmentation Fails:June 24, 2010 1:00 PM - 2:00 PM ESTPresenter: Todd Thompson, PartnerLearn more at http://events.metricsmarketing.com
    Archived Webcasts on our BrightTALK Channel:
    http://www.brighttalk.com/channel/2099
    How Business Does Twitter
    Eye Tracking Software and Improving Campaigns
    Optimizing Landing Pages for SEO & Online Events
    Automated Triggered Opportunity Marketing
    Customer Conversion Optimization
    6/7/10
  • Contact Us
    Find out more about Metrics’ Social Media Audit?
    Discover our Social Media Monitoring Packages for Business?
    Need to set up a CoTweet Enterprise Account?
    Dean Westervelt
    Metrics Marketing Group
    @dean_westervelt
    978-807-0435
    dwestervelt[at]metricsmarketing.com
    6/7/10