Social Analytics

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How Social Analytics can help business to connect with consumers to deliver personalised experience

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  • Business users must find a way to effectively utilize the social networking and media. Based on our experience, here are some typical questions marketing officers, customer service, operations, and product development asking within Retail Banking? What Retail Banking needs to know is based on the: Explosion in acceptance and adoption of social media across the internet will: Improve access to consumer opinion, sentiment Improve ability to gain analysis and identify trends Improve the connections with consumers across the internet-based applications Enable organization to deliver products and services online at the right-time Capabilities of Business Intelligence 2.0 to provide interactive “cockpit” style report where taking action is part of an integrated marketing resource management, CRM or other operational systems.
  • Let’s face it, everywhere… weather @ Home @ Work @ Play People are connecting with social software These connections are creating new content across multiple sources and channels Organizations are expecting near-real-time information to connect people with their products, services and promotions Our solutions drive the connections across channels We Listen and Learn by gathering content from social media We provide governed and managed processes to help you engage with and respond to people
  • We view the Social Intelligence as a diamond where we: Focus analysis Radiate insight, idea, and innovation across the organization, Bubble-up relevant information to decision makers Starting with the an HCL Social Intelligence analyst who continuously monitors unstructured social content And “Publish” insights to social networking SME workgroups ….. …. For example ….. to sales and marketing The system uses text mining and analytics to Collect and crowd source activities and ideas shared between SMEs across the organization As Ideas Surface between the SME Embedded analytics, workflow, and reporting enables executives to QUICKLY SURFACE ACTIONABLE INFORMATION within your secure social network
  • From many customer’s point of view , banking is where people keep their checking accounts. Along with this basic banking service, Banks offer a variety of other products and services. Linking to the community and expanding the walls of the bank to provide these value-adds services such as: Consumer loans for products and homes Business loans CDs, credit carts, money transfer facilities (demat) money markets etc. Perceptions within banking when it comes to connecting with the customer: Largely viewed as a “brick and mortar” business Many customers that seldom enter the facility Customers go to the ATM and have automatic deposits or drive through Assumption: touching the customer can only be accomplish if the customer enters the building How can your Bank effectively connect customer at “Right-time” with the other products and services? Customer are quickly adopting online banking Customers sharing ideas, opinions, sentiments, and other content concerning banking, investments, securities, loans and more…. Social Analytics will help your Bank make the connections to create an online rapport with customers
  • The solution is to apply HCL 2.0 Integrated Social Analytics and extend the walls of the bank on a global scale. Gathering the content and use our processes to “listen” Identify the demographic within the Banks areas Creating ways to connect with customer within online communities based on their interest Learn from the interactions with customers Who is writing about Retail Banking products How does your products and services compare with the competition What ideas, suggestions are relevant and can be used to help you cross-sell products and services Engage with the customers online within the communities Start your on communities and forums and encourage people to share their experiences
  • Organizations are concerned with how to manage the fast evolving social content across: Customers…Multiple Sources, Multiple Channels… One of our key innovations is to incorporate Social Intelligence with the NEXT GENERATION CONTACT CENTER From voice-to-text, community comments, chat, tweets, FaceBook, or other social sites. We provide you with: Standards for governance and interaction with people Managed services to govern and moderate content and responses Enabling you to stay connected across channels We refer to this capability as enabling a “Segment of ONE” or Customer centricity The view from the outside-in: Understand “Voice and of the Customer” Preferences, ideas, opinions that influence purchasing decisions Enabling you to delight customers by understanding needs and rewarding their loyalty Our practice leverages the combination of Web crawling, Social Networking, Crowd Sourcing, Data Warehousing, Business Intelligence, and Analytics technologies to: Gather and process large volumes of Social Media, call center, and other unstructured content Integrate text mining and analytics to enrich data Collaborate across internal and external communities to share information and knowledge Create automated events across multiple channels to drive commerce
  • Using MicroStrategy Wisdom for facebook
  • Social Analytics

    1. 2. Social Intelligence : Connecting consumers to brands Your brands are what friends talking at Social Networks and not what your Marketing publishing/ writing about. Consumers wants a VIP Experience with their favorite brands. How being liked can lead to potential customers and help retain their loyalty later.
    2. 3. The Social Organization Traditional business processes Often hierarchal and siloed, but critical to business goals and success Product Mkting Sales Services Corporate Strategy Information Systems Human Resources Finance & Administration Unstructured social interactions that streamline communication, enhance relationships, etc. Social organizations Transformed business processes that improve productivity, efficiencies & revenue growth Services
    3. 4. Social Media- Foundation for Collective Wisdom
    4. 5. 1 2 3 4 5 Social Intelligence: Enabling Business in The New Normal
    5. 6. Social Networks is changing the way Business connect with customers <ul><li>What Banking needs to know today. </li></ul><ul><li>How can I engage with my customer, understand their needs and link this to our value-add services? </li></ul><ul><li>Who is creating content and influencing the “conversations” about our: </li></ul><ul><ul><li>Products, pricing, promotions, marketing, and advertising? </li></ul></ul><ul><ul><li>Competitors pricing, products, and promotions? </li></ul></ul><ul><li>How do we compare with the competition? </li></ul><ul><ul><li>Terminology associated with brand and image, quality, campaigns </li></ul></ul><ul><li>Who are the key authors, influencers, and content creators? </li></ul><ul><ul><li>What URL/ domains are most active blogs, micro-blogs, twitter, posting photos, and posting videos? </li></ul></ul><ul><li>What is the sentiment? </li></ul><ul><ul><li>Is it good, bad, good and bad, or neutral? </li></ul></ul><ul><li>Social media isn’t a choice anymore – </li></ul><ul><li>it’s a business transformation tool.” </li></ul><ul><ul><li>Natalie Petouhoff, Forester Research </li></ul></ul>
    6. 7. Today’s Customers…Multiple Sources, Multiple Channels… Connected Listen and Learn Engage & Respond Connect & Grow <ul><li>Omni-channel touch-points – store, online, social networks, mobile, games </li></ul><ul><li>Flexibility: engage across channels </li></ul><ul><li>Personalized experience, contextual </li></ul><ul><li>Social shopping </li></ul><ul><li>Build brand awareness </li></ul><ul><li>Build customer loyalty </li></ul><ul><li>Feed ideation and innovation </li></ul><ul><li>Micro-marketing </li></ul><ul><li>Be part of the community </li></ul><ul><li>Social analytics research </li></ul><ul><li>Get input from friends on social networks </li></ul><ul><li>Competitive Intelligence </li></ul><ul><li>Contact Intelligence </li></ul>
    7. 8. Social Intelligence across the organization Create competitive advantages Know the voice of the people across channels Ideas and innovation inform decision making Review analysts report Publish / subscribe to content and authors Governed process to moderate social dialog knowledge sharing across communities Continuously monitor unstructured content Collaborate with business owners Prepare and publish findings Monitor campaign performance Adjust campaign strategies across channels Quickly source and promote ideas and innovation across communities of practice SR Executive Subject Matter Experts Marketing & Research Functional Team Customer Services (Sales, Marketing, HR) Analysts
    8. 9. Applying Social Analytics – Example Banking <ul><li>Banking </li></ul><ul><li>Encompass a variety of financial products </li></ul><ul><ul><li>Deposit accounts, consumer loans, home loans, tailored accounts, credit/ debit cards, ATM, demat facilities, money market accounts, wealth management, Forex trading </li></ul></ul><ul><ul><li>Online bill payments, transfer of funds, certified payment </li></ul></ul><ul><li>May also include cross-selling in insurance and financial markets </li></ul><ul><ul><li>Mutual funds, securities </li></ul></ul><ul><li>Need </li></ul><ul><li>Banks need to attract customer, understand their needs, map their needs to the right services </li></ul><ul><li>Initial Assumptions </li></ul><ul><li>Customers needs are difficult to identity as we do not have access to really know them well unless they visit our facilities </li></ul>
    9. 10. Connecting our customers to the right products <ul><li>Apply BI 2.0 Social Analytics to Leverage Social Media more effectively </li></ul><ul><li>“ Listen” by reading the online content “chatter” </li></ul><ul><ul><li>Identify demographics that are creating the most content about specific products and services </li></ul></ul><ul><ul><li>Create customer-focused messages around our products </li></ul></ul><ul><ul><li>Engage with the customer online within communities forums </li></ul></ul><ul><li>“ Learn” </li></ul><ul><ul><li>The sites, blogs, forums that are most active around your products </li></ul></ul><ul><ul><ul><li>More than comparing interest rates, compare what people relate in terms of overall services </li></ul></ul></ul><ul><ul><li>The people who are influencing the conversation and why </li></ul></ul><ul><ul><li>The ideas, suggestion, opinions, relevant to cross-selling financial products and services </li></ul></ul><ul><li>“ Engage” </li></ul><ul><ul><li>Interact online with key influencers </li></ul></ul><ul><ul><li>Learn to “chat”, micro-blog (tweet) at the right time </li></ul></ul><ul><ul><li>Be part of the group and community </li></ul></ul>Use Social Analytics to identify the right audience and focus marketing campaigns
    10. 11. Social Media Listening and Response Center Pre-purchase <ul><li>Anytime, anywhere </li></ul><ul><li>Multi-channel – store, online, social networks, mobile, games </li></ul><ul><li>Flexibility: buy online, pickup in store </li></ul><ul><li>Personalized experience, contextual </li></ul><ul><li>Sales, Promotions, newsletters </li></ul><ul><li>Professional communities </li></ul><ul><li>Business to community, write reviews, contribute ideas </li></ul><ul><li>Use of devices shop and research </li></ul><ul><li>Get input from friends on social networks </li></ul><ul><li>Read reviews, ratings, experiences </li></ul><ul><li>Compare prices, search coupons </li></ul>Purchase On-going contact <ul><li>Next generation Contact Center </li></ul><ul><li>Social Media growing constantly </li></ul><ul><li>Exponential increases in customer “touch-points” </li></ul><ul><li>Providing the integration need to know your customer </li></ul>
    11. 12. Analyzing consumers interests- Facebook
    12. 13. Analyzing consumers segments
    13. 14. Analyzing consumers segments
    14. 15. Analyzing consumers segments
    15. 16. Analyzing consumers segments
    16. 17. Analyzing consumers segments
    17. 18. Analyzing consumers segments
    18. 19. Leveraging social networks to grow your business <ul><li>Enables marketing messages reach to most potential consumer segments </li></ul><ul><li>Helps to create messages aligned to consumers interests </li></ul><ul><li>Helps to change product designs and even supply in alignment with market sentiments </li></ul><ul><li>Keep consumer engaged with product brands while delivering personalized experience </li></ul><ul><li>Helps to make CRM operations more efficient & effective </li></ul><ul><li>Can fuel new product innovations by allowing consumers to participate in product design ideas </li></ul>

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