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Lecture Jan 25 2010

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Tom Malkin will be joining us with a presentation of his own. But, we’ll still cover some additional info.

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Lecture Jan 25 2010

  1. 1. Insights and opportunities in social media<br />Class 4<br />
  2. 2. Questions from Last Week and/or Reading?<br />
  3. 3. Listening in the social graph:Thomas Malkin, GeeYee<br />
  4. 4.
  5. 5. Assignment 1 Review<br />( + )<br />Good breadth of topics and mediums<br />Showed a good grasp of the space<br />All were interesting and helped me learn a few things, too<br />Analyses were thoughtful and I appreciated your takes on what could have been done differently<br />( - )<br /><ul><li>Details were lacking a bit
  6. 6. Problem + Solution = METRICS!</li></li></ul><li>Picking up where we left off<br />
  7. 7. Social Dilemmas<br />Cases where the best solution for an individual is counter and detrimental to the best overall solution to a group. <br />
  8. 8. Prisoner’s Dilemma<br />Iterated Prisoner’s Dilemma<br />
  9. 9. Tit for Tat<br />1. Always Cooperate on the First Go<br />2. Follow What Your Partner Did in the Last Round<br />
  10. 10. Ecosystems<br />Competitors = HAWKS<br />Cooperators = DOVES<br />
  11. 11. Implicationsusingsocial dilemmas<br />1. Look long-term.<br />2. Cooperation works longer in the long-term<br />3. No need to be a doormat.<br />
  12. 12. Questions?<br />
  13. 13. Social Media Monitoring<br />
  14. 14. Characteristics of Social Media Research<br />Observational <br />Participants are unaware of research presence<br />Direct consumer language<br />Consumers use their own slang and descriptive, colorful language<br />Unfiltered and Un-moderated<br />No survey moderator interrupts the conversation<br />Real emotions, content posted without a lot of restraints <br />Real-time<br />Commentary occurs as soon as an event unfolds<br />Data accessible on short notice<br />
  15. 15. The value of social monitoring is its ability to collect and aggregate naturally occurring consumer sentiment towards a brand in real time<br />Captures the authentic voice of the customer<br />Reveals what you don’t know – but should<br />Provides timely insights into the wants needs and motivations of the audience<br />Delivers results at the speed of the market<br />Offers both qualitative & quantitative potential<br />Less expensive than traditional methods<br />Can complement focus groups and surveys<br />
  16. 16. Comparing Social Media research with traditional approaches<br />
  17. 17. There is little – if any – sacrifice in research validity and application<br />Marries qualitative and quantitative data for robustness, generalizability, and depth of information.<br />Can allow for demographic segmentation - - to a degree.<br />Ongoing monitoring allows for trending information, campaign correlation, and brand tracking.<br />Inclusion of competitive monitoring creates context for brand measures and conversations.<br />Ongoing monitoring allows for rapid adjustment to marketing strategies<br />
  18. 18. Where Social Media Fits<br />Strategic Planning<br /><ul><li>Category dynamics
  19. 19. Questions you didn’t know you should ask</li></ul>Positioning<br /><ul><li>Key consumer motivations
  20. 20. Role of brand/product in their life</li></ul>Product Launch<br /><ul><li>Real-time reaction to product, marketing
  21. 21. Identify barriers, resonance of messaging</li></li></ul><li>Who Uses Social Media Insights<br />Source: Aberdeen Group, January 2008<br />
  22. 22. The process<br />20<br />
  23. 23. <ul><li>We create relevant topics.
  24. 24. The tool then crawls the internet (blogs, forums, social networks, discussion boards, product review sites, etc.) locating postings based upon the topics.
  25. 25. The noise is then filtered, volume/influence measured and sentiment determined.
  26. 26. We then layer this information into other data (e.g., search, segmentation analysis, etc.) to gain insights and optimize.
  27. 27. Recommendations are made as to where and whom to engage in dialogue.</li></ul>How it works<br />21<br />
  28. 28. Have I been successful?<br />What is the summary?<br />What have I been doing?<br />How efficient am I?<br />What’s still open/left to do?<br />Measuring Impact (when we monitor)<br />
  29. 29. A distinction<br />23<br />
  30. 30. Another distinction<br />24<br />
  31. 31. Getting started in monitoring<br />Determine your goals: There may be many and they may seem disparate, but could be covered with a single solution.<br />Determine the process that best suits your organization.<br />Review 3-4 top leaders. There are tons of tools, so narrow it down.<br />They all collect.<br />They all rate and sort.<br />Some do cool things around rating and sorting.<br />All should have reporting.<br />None of them (really) do insights and actions<br />Do a trial.<br />25<br />
  32. 32. Advocates and influencers: Some Exercises<br />

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