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The relevance of public voices
 

The relevance of public voices

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

    • 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?