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Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
Social Network Final Report.ppt
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Social Network Final Report.ppt

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  • Traditional Segmentation : - Identify segments in database by behaviors, psycho-demographics - Create marketing messages … deliver them…hope they buy - These segments may seem homogeneous -- but minds are not These segments have minds that are HETEROGENEOUS Response-Based, Addressable Mind Segmentation - Expose customers to message vignettes by Experimental Design - Identify profoundly different mind-sets that pervade the customer base - Type a customer into a mind-set using ‘scratch test’ + data mining - For a person …. RIGHT MESSAGE, RIGHT EXPERIENCE
  • Transcript

    • 1. Math 110 Brought to life with Addressable MindsFINAL REPORT – DECEMBER 2011 SOCIAL NETWORKING Project Team Nusaiba Ally Nabeela Hanif Tanzilla Yousuf
    • 2. Social Networking Issue• An increased number of people are using social networking sites.• But….there are few websites that offer both business and entertainment.• The social networks need to know how to market and advertise their websites to new/prospective users of all ages. © 2011 2
    • 3. Dr. Howard Moskowitz.Addressable Minds Inventor, honored by the scientific community,... s a graduate of Queens College and holds a Ph.D. from Harvard University. on two of the most prestigious awards in market research 005 Charles Coolidge Parlin Marketing Research Award and the “Nobel Prize” of Market Research, received only by the pioneers of market research. ddressable Minds is used for business and social issues and defines consumer attitudes and preferences both stated and unstated. © 2011 3
    • 4. Addressable MindsCuts across traditional segmentation & detects hidden preferences Behavioral Segmentation - Product Usage - Brand Loyalty - Attitudinal Addressable Minds Psychographic Segmentation - Social Class - Lifestyle Type - Personality Type Demographic Segmentation - Age - Gender - Income © 2011 4
    • 5. Create Addressable Minds messaging for Social Networks IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET SUY SURVEY IdeaMap™ Potential social network user ANALYZED SURVEY RESULTS → Addressable Minds MARKET SEGMENTATION MARKETING PHRASES SEGMENTATION WIZARD Total Seg 1 Self Seg 2 Seg 3 Seg 4 Personal Sample Driven Online Technology/ Collaborative Touch with Banking High Security Online Seekers Technology Seekers Seekers Base Size: (267) (105) (50) (59) (53) Constant: 31 34 28 31 26 Online Collaborative OC1 Connect online in real time with a customer rep via instant messaging, voice over IP or video conferencing via your computer 0 2 2 5 -13 OC3 Faster loan application process…work in real time online with a loan officer 0 0 -8 12 -8 No more paper mail – we will send you copies of statements by secure e-mail OC4 Our banks customer service reps will help you browse and use our online banking services -1 0 -6 10 -10 OC2 Use our online tool to find and schedule at your convenience an online working session with an expert such as investment broker, insurance agent, and/or loan officer -3 1 -11 6 -12 Securely manage your account by PDA, Internet of automated telephone Online Other ON3 We will answer all your requests in real time by email, instant or text messaging 1 7 -11 3 -1 ON4 We offer On demand status reports for services requests (e.g., Our banks customer services reps will help browse & use our on-line services loan application) delivered to you via e-mail, text or instant 1 6 -4 -3 0 ON2 messaging No more paper mail... W e will send you statements and images of transactions securely by email -2 5 -17 -5 2 ON1 We allow you to pay bills securely using your mobile devices (cell phone, PDA, Blackberry, etc.) -4 2 -13 -9 -2 Manage all your banking needs with a state of the art kiosk and be confident In-Branch Recognition that live help is available if you need it BR3 We offer a bank-issued smart card so we can recognize you entering the branch and process your needs faster 4 2 6 -3 13 BR4 Choose a secure eye or finger security scan to identify you immediately in-branch and at ATM 4 3 10 -1 3 BR2 We have the most secure biometric system that identifies you as you enter the branch so we can process your needs faster 2 -1 8 -5 6 BR1 We will recognize our customers mobile phone signal when entering a branch so we can recommend appropriate bank products, promotions and special services -4 -3 -6 -11 2 © 2011 5
    • 6. Addressable Minds’ underlying scienceuses standard Science and Mathematics IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS Conjoint analysis INTERNET SUY SURVEY IdeaMap™ Potential social Experimental Design – network user Stimulus/Response ANALYZED SURVEY RESULTS → Addressable Minds Ordinary Least Squares Discriminant Function Regression Analysis © 2011 6
    • 7. SURVEY OVERVIEW An Addressable Minds Survey is a survey of key ideas for social networks to prospects Survey conducted on November 6, 2011 : ◦ Population Ages 18 and over of Males/Females across the US The team created key marketing and advertising messaging with the intent to entice the survey taker to use a social network. © 2011 7
    • 8. SURVEY OVERVIEW• 52 Individuals responded• Assess two major aspects of messages – Does it convince a prospect to use a social network? – How does it make the prospect feel?• Data reveals the mind-sets of respondents across the United States, as well as ‘what works, what doesn’t’ © 2011 8
    • 9. The Survey begins with an orientation screen © 2011 9 9
    • 10. First they rate how likely they are to use the social network. © 2011 10 10
    • 11. Then they select a single emotion © 2011 11
    • 12. What convinces?What drives feelings? © 2011 12
    • 13. Total Panel – Interested in personalizing their profile. Not concerned with business news. © 2011 13
    • 14. The Total Panel’s Interest is Different From That in Each of Three Identified Segments © 2011 14
    • 15. There are three unique segments Different Users – Different ApproachSocializing Versatility 37% 48% Business 15% Messaging for one isn’t necessary going to appeal to the other…and could actually hurt © 2011 15
    • 16. Socializing (Seg1) – Interested in meeting and interacting with new people and friends. Not concerned with news or business aspects. © 2011 16
    • 17. Business (Seg2) – Interested in professional and business aspects of a social network. Not concerned with socializing. © 2011 17
    • 18. Versatility (Seg3) – Interested in a convenient all-in-one website . Not concerned with one specific aspect. © 2011 18
    • 19. The “Segmentation Wizard” is a 30 second shortcut survey that is extracted from the 15 minute survey and identifies the segment membership of that individual IDENTIFY TARGET MARKET DEVELOP SURVEY QUESTIONS 10 – 15 minutes INTERNET SUY SURVEY IdeaMap™ Potential social network user. ANALYZED SURVEY RESULTS → Addressable Minds SEGMENTATION WIZARDSegmentation Wizard consists of 3 or 4 elements No more paper mail – we will send you copies of statements by secure e-mail identified in the in-depth 10 – 15 minute survey Securely manage your account by PDA, Internet of automated telephone Our banks customer services reps will help browse & use our on-line services Manage all your banking needs with a state of the art kiosk and be confident that live help is available if you need it © 2011 19
    • 20. The Social Network Segmentation Wizard– Online exampleThe Segmentation Wizard is a short survey with the questions derived from the full survey to identify segment membership http://mjiweb.com/mjitt/QC_Fall2011_Social/index.htm © 2011 20
    • 21. The Social Networking Segmentation Wizard– Online example © 2011 21
    • 22. © 2011 22
    • 23. © 2011 23
    • 24. © 2011 24
    • 25. Conclusions• Social Networking is used for business and social purposes depending on the type of person• Three Segments discovered by Addressable Minds * Socializing * Business * Versatility• Conclusion You can improve messaging...but you have to – Know the segmentation – Give the right message to the right segment © 2011 25

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