The relevance of public voices
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The relevance of public voices Presentation Transcript

  • 1. The Relevance of Public Voices
    Why the market researcher needs to pay attention to the new unstructured frontier …social media
  • 2. The excitement of new unstructured frontiers
    SM = consume + create + share
  • 3. Complexity of Social
    Scott’sfoot print
    Scott
    Scott
  • 4. Channel Expansion
    More than 400 million active users
    50% of our active users log on to Facebook in any given day
    More than 35 million users update their status each day
    More than 60 million status updates posted each day
    More than 3 billion photos uploaded to the site each month
    More than 5 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.) shared each week
    More than 3.5 million events created each month
    More than 3 million active Pages on Facebook
    More than 1.5 million local businesses have active Pages on Facebook
    More than 20 million people become fans of Pages each day
    Pages have created more than 5.3 billion fans
  • 5. How do I fit?
    Post-Trough Adopter
    Early Experimenter
    5
    © Harris Interactive
  • 6. A journey to the relevance of unstructured data
    When relationships don’t tell us why…
    “when they like our product but won’t buy”
    Making cacophony musical…
    “when a story emerges”
  • 7. When relationships don’t tell us why… “when they like our product but won’t buy
    Do we need to increase familiarity?
    Is our brand to weak to convert?
    Unlikely to Buy
    We like
  • 8. When relationships don’t tell us why… “when they like our product but won’t buy
    Do we need to increase familiarity?
    Is our brand to weak to convert?
    Unlikely to Buy
    We like
    We want to buy but procurement will not let us…
    Corporate governance prevents us from considering …
  • 9. Making cacophony musical… “when a story emerges”
  • 10. Making cacophony musical… “when a story emerges”
    Story emerges from the conversations…
    Top Mind: Coherent Issues Emerge
  • 11. The Big Issues Surrounding Social Media Analysis
    Cost Myth
    Should be a fraction of the cost of traditional survey research
    Accuracy Myth
    Most mining software can accurately identify content and sentiment
    Scope
    You can find anything you need on the ubiquitous Web
    Representativeness
    Online sources reflect the voice of the market
  • 12. SM = consume + create + share
    Source
    Classification
    Sentiment
    Volume
    Time
    Influence
    Building Blocks of Social Media Analysis
  • 13. Research Questions
    Source
    Classification
    Sentiment
    Volume
    Time
    Influence
    Where are the conversations occurring?
    What are people talking about?
    Are conversations negative or positive?
    How many people are talking?
    Is the conversation changing?
    Who leads the conversation?
  • 14. Business Questions
    Source
    Classification
    Sentiment
    Volume
    Time
    Influence
    What channel should I target?
    Can I align messages to market interest?
    Can I amplify positive reaction?
    Can I prioritize the top mind share?
    What issues are gaining momentum?
    Can I target the opinion leaders?
  • 15. Data Collection
    Trends:
    400+ solutions
    Convergence
    Specialization
    What to watch out for:
    Harvesting capability
    Targeting capability
    Spam controls
    Full Feed – use of aggregators
  • 16. Text Analytic Tools
    Trends:
    60+
    Specialization: domains and calls to action
    Processing Options
    Natural Language Processing
    Machine Learning
    Entity Extraction
    What to watch for:
    Auditing
    Rule building
    Clustering
    Sentiment tuning
  • 17. Addressing the Big Issues
    Cost
    Front loaded costs – but expect savings down the road
    Accuracy Myth
    Best in class analytics and auditing ensures higher levels of accuracy
    Scope
    Limits of TOM - there is still a role for traditional research
    Representativeness
    Full feed is critical – but hard to manage
  • 18. Should researchers embrace social media?