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Social Insights: Listen to the Voice of the Market

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With all the noise around social media and the opportunities it affords organizations it can be daunting to figure out where to start. This session will focus on how to practically leverage social ...

With all the noise around social media and the opportunities it affords organizations it can be daunting to figure out where to start. This session will focus on how to practically leverage social media in developing products and growing market share. Participants will walk away with 3 key takeaways which you can put in practice tomorrow to improve your understanding of buyers, your customers and the problems waiting to be solved.

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  • This is the town hall/interactive part of the session.
  • Tell the WSJ Twitter story --- that’s what happens when you are being reactive >>>
  • Not just the owner issue – it’s the tool issue
  • So with all of these fuzzy area’s – it begs the question ---
  • This is the town hall/interactive part of the session.Intuit did $19m on community driven features - productDell $3M in Twitter sales – placementEtsy – promotion
  • So something is clearly broken – we heard about it this morning – what is social media, how do you use it market -- social media is a bunch of stuff. --- BUT THERE IS ONE TRUTH
  • So based on this graphic it appears that gartner and forrester have all the cool concept graphs/quadrantsClick --- but the reality is product managers, marketing folk, support people and sales people are using social technologies to be more effective, be more productive and make better products.
  • This is interesting – but I see a bunch of pm’s using twitter – I mean we have our own hash tags
  • So – then we must all being using it right? Let’s see what we really think about twitter/
  • If you think about twitter and marketing, one of the best references is a company right here in town – well round rock.
  • To take us full circle, if you are tactical and looking to address the inbound requests/ or being reactive – you will just be creating stuff and moving on.
  • Frank StrongMonitored multiple media typesNews: 22,000 articlesBlogs: 2,500 blogs, 14,000 postesSocial Media: 230,000 referencesMonitoring ContextWhere are they talking about our product?What are they saying?Who are the key influencers shaping the discussion?
  • Is the network really a differentiator?Is it worth switching to VRZN if I just renewed with AT&T?Is the data plan similar to AT&T or not?
  • Google makes it easy

Social Insights: Listen to the Voice of the Market Social Insights: Listen to the Voice of the Market Presentation Transcript

  • Social Insights
    You Need a Social Strategy for Your Product
    Jon Gatrell
    @spatially
    Pragmatic Marketing
    w: www.pragmaticmarketing.com
    b: www.spatiallyrelevant.org
  • The Marketing Reality
  • The New
    Good Stuff
  • Who’s the Owner?
  • B2B Marketing and Social Tools Lifecycle
    .
    .
    .
    Everyone’s Using it
    Not sure how to use for my job
    .
    .
    It’s just a time sink
    My CEO read about this
    This thing on the airplane
    COOL FACTOR
    .
    I read about this thing on
    on this blog, looks interesting
    Maybe the next thing is better
    WHY DID I THINK THIS WOULD WORK?
  • What is a Social Product?

  • ……the world is becoming too fast, too complex and too networked for any company to have all the answers inside.

    YochaiBenkler
  • Going Social: From Sale to Service
  • Top 5 Uses of Social Media
    Optix 2010 Social Media Survey
  • Product Management Usage of Social Media
  • What is The Influence of Social Media on your
    go-to-market Activities?
    Considered
    but not a significant factor
    None
    40%
    51%
    Major part of the program
    9%
    Source: 2009 - 2010 Pragmatic Marketing Survey
  • Yes, for the company
    (as an individual or as the company)
    Do You Use Twitter?
    11%
    No
    Yes, Personally
    62%
    27%
    Source: 2009 - 2010 Pragmatic Marketing Survey
  • #prodmgmt
    #pcampmn
    #prodmktg
  • What Do We Really Think About Twitter?
    The Valley is again pulling the wool over the world’s eyes. We’ve learned nothing from the late 90’s!
    Only experimenting at present
    @prdmgttype90210
    @dontweeverlearn2012
    A nuisance perpetuated by the self-absorbed
    It makes my eyes bleed
    @notbuyingitforPM
    @surlypm.noreallysurlypm
    @pmpotential: Twitter as a marketing tool has very interesting potential
    @planningpm:Will use more in 2010 for products
    Names are changed to protect the innocent
    Source: 2009-2010 Pragmatic Marketing Survey


  • Twitter is a nonstop feedback loop
    Richard Binhammer
  • Optix 2010 Social Media Survey
  • So why aren’t we more social as Product folk?
  • BusinessPlan
    MarketingPlan
    Positioning
    Pricing
    Market Problems
    Customer Acquisition
    BuyingProcess
    Market Definition
    Buy, Build or Partner
    Win/Loss Analysis
    Customer Retention
    Buyer Personas
    Distribution Strategy
    Product Profitability
    Distinctive Competence
    Program Effectiveness
    UserPersonas
    Product Portfolio
    Strategic
    Tactical
    Strategic
    Tactical
    Business
    Market
    Programs
    Planning
    Strategy
    Support
    Readiness
    Business
    Market
    Programs
    Planning
    Strategy
    Support
    Readiness
    Innovation
    Competitive Landscape
    LaunchPlan
    Requirements
    Product Roadmap
    Presentations & Demos
    SalesProcess
    Technology Assessment
    Thought Leadership
    UseScenarios
    “Special”Calls
    Collateral
    Lead Generation
    Status Dashboard
    EventSupport
    SalesTools
    Referrals & References
    ChannelSupport
    Channel Training
    © 1993-2011 Pragmatic Marketing, Inc. All rights reserved.
  • Source: MS&L/PRWeek 2009 Social Media Survey

  • Nothing will ever be attempted if all possible objections must be first overcome.

    Samuel Johnson
  • Social Media in Product Management
    BusinessPlan
    MarketingPlan
    Positioning
    Others?
    Pricing
    Market Problems
    Customer Acquisition
    BuyingProcess
    Market Definition
    Buy, Build or Partner
    Win/Loss Analysis
    Customer Retention
    Buyer Personas
    Distribution Strategy
    Product Profitability
    Distinctive Competence
    Program Effectiveness
    UserPersonas
    Product Portfolio
    Strategic
    Tactical
    Strategic
    Tactical
    Business
    Market
    Programs
    Planning
    Strategy
    Support
    Readiness
    Business
    Market
    Programs
    Planning
    Strategy
    Support
    Readiness
    Innovation
    Competitive Landscape
    LaunchPlan
    Requirements
    Product Roadmap
    Presentations & Demos
    SalesProcess
    Technology Assessment
    Thought Leadership
    UseScenarios
    “Special”Calls
    Collateral
    Lead Generation
    Status Dashboard
    EventSupport
    SalesTools
    Referrals & References
    ChannelSupport
    Channel Training
    © 1993-2011 Pragmatic Marketing, Inc. All rights reserved.
  • Be part of the 34%
    Source: MS&L/PRWeek 2009 Social Media Survey

  • Networks don’t have people, people have networks

    DemienEntrekin
  • Do You Have a Social Media Strategy?
    Optix 2010 Social Media Survey
  • Social Media should be a market leveraged for Market Insights
  • Synthesize Social: Find the Patterns
  • @VOCUS: Verizon iPhone Launch Monitoring
    SOURCE: Pragmatic Marketing March Newsletter
    http://www.pragmaticmarketing.com/publications/topics/11/what-media-monitoring-can-teach-us-about-product-launches
  • Are people talking about our product?
  • Where are they talking about the product?
  • What are they saying?
  • #buyers
    #customers
    #prodmktg
    #competition
    #partners
    #peers
    #prodmgmt
    1
    Find
    http://www.flickr.com/photos/cctwebteam/1732901151/
  • http://www.flickr.com/photos/dullhunk/3389581452/sizes/o/
  • Listen
    2
  • http://www.flickr.com/photos/niclindh/1389750548/sizes/o/
  • 3
    Learn
    http://www.flickr.com/photos/wfryer/2516648940/sizes/o/

  • and build better products
    If you aren’t using social media
    to become a better company,
    you aren’t using it right.

    olivieralainblanchard
    @thebrandbuilder
  • THANKS!
    Jon Gatrell
    @spatially
    Pragmatic Marketing
    w: www.pragmaticmarketing.com
    b: www.spatiallyrelevant.org