AGENDATalking at Two Way Future - What’s Research Case Study People Conversations next?
TALKING AT PEOPLEThe beginning of Social Media: 1996-2006 MySpace, GeoCities, Tripod, etc.
TALKING AT PEOPLEOne-way conversation Write to people Write about something Didn’t get a message back Very one sided
TWO WAY CONVERSATIONConversations Start to Happen: 2006-2010 Facebook, Twitter
TWO WAY CONVERSATION Consumers and Brands talking to each other FEMA- do not use cell phones to tell people you are okay, use twitter, Facebook, etc. Talk to your senator on Facebook, twitter, etc.
RESEARCHSocial Media is used for Research: 2010-present Twellow, Angie’s lists, yelp
RESEARCHConsumers: use social media to do research byasking other consumers what products to buy Anything from a Car/house purchase to pet groomers, restaurants, clothing stores, etc.
RESEARCHBrands: Use social media to find out what theirtarget audience is talking about Research on age, demographics, income, etc. We believe this information is accurate: People don’t know they are being watched with social media Huge amount of information and samplings, speed
FUTURELooking forward with the information wehave to what might happen next… Presidential Elections: based on social media discussions might more accurately predict then polls Global Warming: predict weather patterns based on social media keywords Ex: early plants, rain, etc.
FUTUREUnemployment: predict rate in future based on what people say on social media Ex: laid off, unemployed, etc.Flu outbreak: predict flu outbreak based on social media posts Ex: sniffles, stomach ache, etc.
CUSTOMER RESEARCH: DEFINES THE MARKET Driving Park Penetration Rate By Age 60% 50% 40% 30% 20% 10% 0% 1-4 5-9 10- 15- 18- 21- 25- 35- 45- 50- 55- 60- 65- 75- 14 17 20 24 34 44 49 54 59 64 74 84Cardholder Database Research 20,745 residents live within a 1-mile radius of the branch 7,396 cardholders live within a 1-mile radius of the branch Branch has a market penetration rate of 36% Penetration rates varied from 20% to 53%
CUSTOMER RESEARCH: DEFINES THE MARKETClaritas PRIZM Clusters Standard-setting target marketing since 1973 Lifestyle and behavior precision segmentation Combines demographic, consumer behavior, geographic information totarget customers