What is the Value of Social Analytics?

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  • What is the Value of Social Analytics?

    1. 1. What is the Value of Social Analytics?Christopher HosfordEast Coast Bureau ChiefCrains BtoB | BtoBs Media BusinessJonathan BlockVice President and Practice Director, TechnologySiriusDecisionsPam EvansSenior Manager, Marketing OptimizationIBM Software Group
    2. 2. ‘Social MediaMarketing Matures’ A study by BtoB Christopher Hosford East Coast Bureau Chief, BtoB chosford@crain.com @cfhosford
    3. 3. ‘Social Media Marketing Matures’ A study by BtoB• Survey fielded in March 2012 to B2B marketing professionals in the U.S. were researched via a 30 question online survey.• A sample of 622 completes were achieved.
    4. 4. Adoption of Social Marketing 2012 32% 28%2011 26% 7% 6% Stage One: NoStage Two: Somewhat involved. involvement. Stage Three: Moderately involved. Stage Five: Fully integrated. Stage Four: Very involved.
    5. 5. Adoption Accelerates 2013 38% 30% 2012 15% 15% 32% 3% 28% 26% Stage One: NoStage Two: Somewhat involved. involvement. Stage Three: Moderately involved. Stage Five: Fully integrated. Stage Four: Very involved. 7% 6%Stage One: NoStage Two: Somewhat involved. involvement. Stage Three: Moderately involved. Stage Five: Fully integrated. Stage Four: Very involved.
    6. 6. 2012 Social Budget Change 1% 2012 Social Media Marketing Budget Change Increase 45% Remain the same 54% Decrease
    7. 7. Social Channels Used83% Social Media Marketing Usage 80% 79% 60% 50% 35% 19% 18% 14% 9% 5% 3% 5%
    8. 8. Most Important Social Channel Most Important Social Media Platform 30% 20% 19% 16% 8% 6% 1%LinkedIn Blogging Facebook Twitter YouTube Customer Google+ Community
    9. 9. Effectiveness by Goal Effectiveness of Social Media Marketing by Goal69% 58% 58% 56% 45% 45% 42% 41% 24% 23%
    10. 10. Satisfaction with Social ROISatisfaction with ROI on 23%Social Media Marketing 18% 18% 13% 11% 6% 4% 4% 3% 2% 1 2 3 4 5 6 7 8 9 10
    11. 11. Hootsuite 46% Goggle Insights 40% Tweetdeck 31% Klout 22% Twitter Search 21% HubSpot 16% Radian6 14% SocialMention 10% SEOmoz 8% CoTweet 6%Netvibes/Google Reader 5% Social Monitoring Tools Tweetburner 3% Trackur 3% Crowdboost 3% Sysmos ScoutLabs 2% 2% Favorite Social Networked Insights Meltwater Buzz BuzzStreams 2% 2% 2% Monitoring Tools Buddy Media 2% Alterian 2% Addict-o-matic 2% Vitrue 1% Spredfast 1% Blitzlocal 1%
    12. 12. Social Media for Paid Ads Social Media used for Paid AdvertisingLinkedIn 34%Facebook 34%YouTube 11% Twitter 11% Google+ 7%
    13. 13. Why Use Paid Social Ad?Most Important Marketing Benefit Lead generation 35% Branding 24% Website traffic-building 16% Community building (i.e. listening to social buzz) 7% Product/event promotion 5% Customer feedback 5% Sales Revenue 4% Search engine optimization 2% Competitive intelligence/listening 1% Product development 0%
    14. 14. Thank you! Christopher HosfordEast Coast Bureau Chief, BtoB chosford@crain.com @cfhosford
    15. 15. From Social Media Monitoring to Social Intelligence Jonathan BlockVice President and Practice Director, Technology SiriusDecisions
    16. 16. Key Reality: New Buyer BehaviorsSiriusPerspective: Many organizations have yet to recognize thata new buyer reality calls for new approaches to enablement. 1. Loosening of the Status Quo 79% start their evaluation Education with search Phase 2. Committing to Change 3. Exploring Possible 33% consult peers and ask Solutions questions on social sites Solution Phase 4. Committing to a Solution 5. Justifying the Decision 53% consume vendor social content and do research Vendor Selection Phase 6. Making the Selection 16
    17. 17. Buyer’s Least Trusted Sources SiriusPerspective: While they value content from suppliers and social media, there is evidence buyers are struggling to find thought leadership.Most often selected Least Trusted Sources 45% 40% Hmmm… 40% 35% 30% 29% 25% 22% 20% 15% 12% 12% 12% 11% 11% 11% 10% 9% 5% 4% 5% 5% 6% 5% 3% 3% 0% Industry Consultants Peers Internal Trade Social Media Vars / Search Vendors Analysts Groups Publications Partners 2006 2010 Source: SiriusDecisions 17
    18. 18. Social Media Monitoring SiriusPerspective: Social media monitoring provides a wealth of data that organizations can leverage for insight. Prospects Geographies Influencers Competition Business Units Products Partners BrandEmployees Customers Major Accounts 18
    19. 19. From Social Monitoring to Social IntelligenceSiriusPerspective:Monitoring should be both proactive(research-oriented) and reactive (defense-oriented).Reactive Proactive• Crisis response • Industry trends• Conversation/comment routing • Product optimization• Sentiment tracking • Product opportunity• Mentions/activity metrics • Partnership opportunities• Network size (friends/followers/subscribers) • Competitive activity• Campaign/program impact • Competitive strategy• Social Web traffic • Conversation voids• Competitive landscape • Influencer trends/interests • Social personas • Early warning system 19
    20. 20. A Social Intelligence ProcessSiriusPerspective:Social intelligence gathering should be drivenby (and report on) specific objectives and desired insights. • Identify and implement monitoring tool and searches • Create a process for implementing social data into Prepare dashboards and other reports • Develop escalation and routing procedures for support issues • Track brand metrics (reach, share of voice, sentiment) Listen • Collect market, competitive, influencer industry and market intelligence data • Ensure employees follow governance policy • Correlate collected social data and activity with Analyze marketing campaigns • Identify and score key or new influencers • Identify key market trends or product insights • Articulate and share market and product insights Optimize • Target influencer communications • Develop/revise content strategy 20
    21. 21. Social Impact MetricsSiriusPerspective: The shift away from traditional brand metrics(reach, sentiment, share of voice) is critical to show impact.What are the top metrics you use to measure impact? Tradi onal brand metrics Customer sa sfac on/ 14% loyalty 28% Analyst influence 34% 8% Demand increase 16% Revenue 21
    22. 22. Measurement/Insight: Reporting SiriusPerspective: Demonstrate how customers and prospects are using social media throughout their buying cycles. Best Practice October Results • 10 new postsBlog • 5 comments • 15 new RSS subscribers • 2 linkbacks • 35 new Twitter followersSocial Networks • 28 retweets • 9 new Facebook fans • LinkedIn group created • 3 new videos on Web site/YouTubeMultimedia • 101 total views • 9 new YouTube channel subscribers • 2 comments on YouTube 22
    23. 23. Measurement/Insight: Social DashboardSiriusPerspective: An effective social dashboard communicates bothactivity and impact, providing key data in an executive summary. Reputation Demand Creation Enablement • Page views, unique visitors • RSS subscriptions • Number of downloads • Links, referrals, tags, ratings • Search engine (podcasts) • Number of blog rankings, keyword and • Number of visits andActivity comments, positive vs. negative blog comments phrase mentions • Links, referrals, tags posts (blogs, community) • Content accessed • Community metrics • Customer satisfaction • Waterfall conversion rates • Rep performance • Retention • Response rates • Training time • Net Promoter Score • Pipeline acceleration lift • Certification levelsImpact • Participation level, support (deals moved, velocity) • Deal velocity resolution velocity • Content usage (vs. • Sentiment, tone, influence, r benchmark) elevance 23
    24. 24. Measuring Social Impact SiriusPerspective: Tracking the impact on waterfall conversion rates is a critical element of gauging the success of social media. . Without With Social Social Inquiries (2% Response Rate) 2,000 2,600 Organizations with an integrated 4.1% social strategy gain an average ofMarketing Qualified 30 percent more inquiries than by Leads (MQLs) 78 107 relying on typical outbound tactics alone 62.0% Sales Accepted 45 66 Leads 47.5% While organizations are using Sales Qualified social media at later waterfall Leads (SQLs) 22 31 stages, we currently assume 22.1% conversion rates remain constant Closed/Won beyond the inquiry stage Business 5 724 Source: SiriusDecisions
    25. 25. IBM Case Study on Social Analytics Pam Evans Senior Manager, Marketing Optimization IBM Software Group
    26. 26. IBM Case Study• IBM Software Group Social Networking Sites and Communities• Social Marketing – Why It Matters• How IBM Tracks the Health of Its Business ─ WW Analytics for Smarter Planets ─ Marketing Automation and Technology Integration• What Social Analytics Does for Us 26
    27. 27. IBM Software revenue for 2011 was $24.5B• 4,700 products sold through sales reps, business partners and online• Web presence in 61 countries• IBM Software Solutions – connect and collaborate – drive business integration and optimization – manage security, risk and compliance – optimize business infrastructure – enable product and service innovation – turn information into insight
    28. 28. CMOs Top 2 Issues: Data Explosion and Social Media Under preparedness Percent of CMOs selecting as “Top 5 Factors” Need for change to deal with data explosion Percent of CMOs indicating high/significant need Data explosion 71% Social media 68% Invest in 73% technology Channel & device choices 65% Integrate Shifting demographics 63% 69% insights Financial constraints 59% Understand 65% Decreasing brand loyalty 57% analytics Growth markets 56% Rethink 64% skill mix ROI accountability 56% Collaborate Customer collaboration 56% 52% with peers Privacy considerations 55% Validate 49% Global outsourcing 54% ROI Regulatory considerations 50% Address 28% privacy Corporate transparency 47%Source: Q8 How prepared are you to manage the impact of the top 5 market factors that will have the most impact on your marketing organization over the next 3 to 5 years? n=149 to 1141; Q20 To what extent will the opportunity to collect unprecedented amounts of data require you to change? n=1629 to 1673 28
    29. 29. IBM Web traffic is a marketing asset 3 million people connect with IBM SWG each month through www.ibm.com/softwareS o c ia l M e d ia G u id a n c eDonna Bieg 152 people per minute (24/7) Web functions in a way similar to reaching the target audience at a signature conference every hour. 29
    30. 30. Intercept online prospects and progress them30 to leads and revenue 1. Draw visitors via key 2. Engage with compelling 3. Ensure response word searches content and offers and a follow-up live chat rep to answer questions Organic Paid 30
    31. 31. IBM Digital Dashboard: Bringing it all together • Key performance metrics help us understand and act – Importance of connecting data – Automating feeds for digital dashboards – Analysts recommend actions based on a series of factors and trends 31
    32. 32. Web Analytics investigates Customer NavigationFunnel Analysis Path Analysis• What % of customers are reaching • What % of customers are leaving their destination? the site?• What % of initial customers • What are the most popular links completing the form? for this path? 32
    33. 33. Worldwide analytics for Smarter Planet• Total visits continue to climb, with 30% more visits in 2011 compared to 2010• WW Dashboard by Smarter Planet topic to understand visitor behavior – Reach and Engagement – Daily and monthly visits trends – Top pages and page types – Traffic Sources • Top Domains • Organic Search and Paid Search • Social Media – PDF downloads, Video plays and Top Solution pages 33
    34. 34. Marketing Automation and Technology Integration Social Communities Key Word Search Web Page I cante m gra Marketing Automation pa te Ho ig d Platform Pipeline ns vi list metrics Contact Behavior and ew ic Marketing Database performance management analysis rs ge Campaign Mgmt Lead Tr ig s CRM tic delivery a ly AP Lead Mgmt s An n Mge o pa Contact Advanced Features information Offer/RegistrationSiriusPerspective: A set of integrated technologies enables advanced Web site conversion optimization. Business Intelligence 34 34
    35. 35. Unica Technology at IBM Integrated with existing IBM systemsAllows DatabaseMarketers to design Allows Lead Developmentand execute end-to- Reps to efficiently manageend campaigns Marketing Planning proactive tele campaigns and reactive response follow-up Marketing DatabaseManages email designand execution An IBM Cognos® real-time Touch and fatigue mgmt operational reporting portal embedded in Unicas user Data matching interface, which provides current information on clickthroughAllows Local Demand rates, campaign responses andPrograms Professionals Sales—CRM system responses sent to Unica Leadsto easily execute pre-designed campaigns Web Registration systems Cognos Dashboard Marketing Automation environment at IBM: • IBM WebSphere® Business Modeler for documenting improved business processes • IBM Rational® ClearQuest® tools for managing project enhancements and defects • IBM WebSphere Application Server with its integrated deployment manager for effective management of the entire application solution on both IBM System p® and System x® servers • Centralized marketing databases running on IBM DB2® 35 35
    36. 36. Beyond generating leads and revenue…• Create new forward-thinking markets• Use social media engagement to ─ Expand market reach through relationship-led influence ─ Facilitate collaborative experiences and dialogue that customers value ─ Gain insight for market strategy, messages and offerings• Showcase our own experts and collaborative software technologies to increase insights 36
    37. 37. Questions
    38. 38. Thank You!

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