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Competitive and business intelligence in social media
- 1. Competitive and Business Intelligence What can we learn about our business and competition through social media Aarne Ylä-Rotiala / Culho Oy
- 2. Copyright Culho Oy Please distribute Culho in brief • Family owned vessel for serial entrepreneurship • Run by Aarne Ylä-Rotiala – Left Nokia 2006, several startups: Lekane, Arwind, Lupaus, Rokuli • Emphasis is on developing great software • Some metrics project started in 2011 – Starting point : HSE pro gradu thesis tooling
- 3. Copyright Culho Oy Please distribute Smart actions Brands Punters Consumers Customers Competitors External events Social Media – Rich and evolving landscape Twitter Facebook Youtube Google+ Instagram Vimeo Geography Demographics Market share Local, regional, global Risers Losers Winners Threats Opportunities Partners and their value
- 4. Copyright Culho Oy Please distribute Players • Brands, punters etc appear in social media as ”Players” • A player is a tweeter, facebook page, youtube account etc – Fazer is a Player, so is Toblerone – Pepsi and Coca Cola are Players • New Players appear fast – social media has practically no barriers of entry.
- 5. Copyright Culho Oy Please distribute Actions and reactions • Players play and consumers react and respond – Tweets are commented, liked, shared, 1+d, retweeted – New tweets, comments, posts are made about Players • Consumers have the power to ignore, amplify, critisize, comment on Player activities – Most industrious become Players
- 6. Copyright Culho Oy Please distribute Intelligence questions • Who are the Players? • Are there new Players? • Where is the money? – Look at tweeter Inc – what is the point of Social Media? – Does it generate Economic Value for you? – Are you falling behind? • Is someone in my chosen segment / geography / industry rising ”too fast for comfort”? • Player v.s. Player – performance comparisons • Events and Player progress – do they correlate? – Impact of marketing campaings?
- 7. Copyright Culho Oy Please distribute How to get to Smart Action? • Players, actions, actors, channels – lots of detail. Why? • To Detect Anomalies – Suprises – new competition, consumer sentiment, unforeseen events • To Track the Competition – The enemy you know – what are they up to? – Is competition doing something different, better, worse? • To Track your plans – How is your progress re plans? Better or worse? – Your plans, progress and expected progress of others – are you gaining, or are you being left behind? – Are execution and impact aligned – how is your bang for buck? • The purpose is to improve the odds of success.
- 8. Copyright Culho Oy Please distribute Loads of metrics • Conversation Rate – How much does your audience talk about you ? – # of Audience Comments (or Replies) Per Post • Amplification – How much is your audience repeating your message? – # of reruns by your audience, e.g. # of Retweets Per Tweet • Applause Rate – How much do they like you? – # of Favorite Clicks Per Post • Economic Value – What is the impact on top, bottom line? – How to track the competition? – How to maintain the consumer / customer interest?
- 9. Copyright Culho Oy Please distribute Intelligence in Social Media • Social Media is – Global – Does not depend on gender, age, income bracket – Aggregates easily, has great network effects • Competitive and Business Intelligence – Target markets (regions, countries, cities) – Demographics and market segmentation – Identify competition, trace value chains, track partners – Alert about surprises (good or bad) as early as possible Advanced query, data mining and tracking mechanisms
- 10. Copyright Culho Oy Please distribute How to find Surprises • Advanced query engine looks for – Fast rises and falls – all rapid change is relevant – New entrants – Consolidated and per channel speed • Speed and rate of change (acceleration) – Relative speed – Actor v.s Actor / ref group • Outliers, ”leaders of the pack”
- 11. Copyright Culho Oy Please distribute Example – Youtube details Views Subscriptions driven Shares Likes Thumbs down Comments Fazer Angry Birds video 25 524 417 965 479 9 484 6 490 580 Volume Conversation rate Amplification Applause 25 524 417 0,00227 % 0,00378 % 0,01173 % Views Subscriptions driven Shares Likes Thumbs down Comments M&M's - Faint (1996, USA) 106 217 121 7 Volume Conversation rate Amplification Applause 106 217 0,10733 %
- 12. Copyright Culho Oy Please distribute Youtube details – II Fazer Angry Birds; M&M’s faint. Note – M&M peak 1200, Fazer 450.000. Which is better? Did either generate €ur?
- 13. Copyright Culho Oy Please distribute Youtube details – so what? • Applause 0,011% v.s. 0,11% – Economic value generated? – Expense – €/like? – Return on advertizing expense – positive or negative? • Who to compare with? – What is ”good enough for now”? – Who does Fazer want to beat? – How to measure that competitive setting?
- 14. Copyright Culho Oy Please distribute Next – action • Meaningful metrics and analysis • SaaS service • Integration points • Pilot scope and duration Contact info: Aarne Ylä-Rotiala 040 844 3355 aarne.yla-rotiala@culho.com