The relevance of public voices

The Relevance of Public Voices
Why the market researcher needs to pay attention to the new unstructured frontier …social media

The excitement of new unstructured frontiers
SM = consume + create + share

Complexity of Social
Scott’sfoot print
Scott
Scott

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

How do I fit?
Post-Trough Adopter
Early Experimenter
5
© Harris Interactive

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”

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

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 …

Making cacophony musical… “when a story emerges”

Making cacophony musical… “when a story emerges”
Story emerges from the conversations…
Top Mind: Coherent Issues Emerge

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

SM = consume + create + share
Source
Classification
Sentiment
Volume
Time
Influence
Building Blocks of Social Media Analysis

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?

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?

Data Collection
Trends:
400+ solutions
Convergence
Specialization
What to watch out for:
Harvesting capability
Targeting capability
Spam controls
Full Feed – use of aggregators

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

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

Should researchers embrace social media?

The relevance of public voices

by R Scott Evans

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