Webinar:Know what your Customers want without investing in Market Research


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In this webinar, our experts will talk about advanced yet effective ways of understanding the market by leveraging media monitoring programs.

This webinar will cover both strategic and practical ways of aligning your media monitoring programs with the business goals. Learn the tricks of understanding what the consumer wants by monitoring the media around you. In the process also improve your media relations and improve relations with the various stakeholders.

* Building a measurement process to track, monitor and analyze conversions on the web
* Align media monitoring programs with the business goal
* Persuading management buy-in for the project and getting a budget.
* Building a communications matrix to ensure the consistency in messaging across channels, be it web, print, media, TV or radio

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Webinar:Know what your Customers want without investing in Market Research

  1. 1. Know what your customers want without expensive market research Alok Ramsisaria , VP Operations Regalix Inc. Mar 11, 2009
  2. 2. Presenter – Alok Ramsisaria © 2009 Confidential | Think Innovation <ul><li>VP Operations at Regalix Inc. </li></ul><ul><li>Extensive experience in technology and consumer online marketing and lead generation. </li></ul><ul><li>Managed multi-cultural teams in technology and marketing across geographies </li></ul><ul><li>Managed own technology consulting and product marketing business </li></ul><ul><li>Follow me at http://www.twitter.com/alokram </li></ul>
  3. 3. Media Monitoring <ul><li>Whose online? And Where? </li></ul><ul><li>What are they doing online? </li></ul><ul><li>What matters online? </li></ul><ul><li>Why media monitoring? </li></ul><ul><li>Who is doing it? </li></ul><ul><li>How do I get started? </li></ul><ul><li>Sample Dashboard </li></ul><ul><li>Aligning media monitoring to every business goal </li></ul><ul><li>Case Studies </li></ul><ul><li>The Business Case </li></ul><ul><li>About Regalix </li></ul>© 2009 Confidential | Think Innovation
  4. 4. Whose online? © 2009 Confidential | Think Innovation Source: Different sites as of 15 Jan 2009, sourced from Octane Corporation Report Number of Internet Users in the United States - 208 Million people Source: Click Z Type Site Statistics Social Network Facebook 150 million active users Fastest Growing segment is 25 years or older 2.6 million minutes used per day MySpace 300 Million accounts 110 Million Active users per month 1.5 billion images on MySpace Social Network (Professional) LinkedIn 30 million users 7% C-Level Executives 6.6% EVP/VP 16% Senior manager 18% Middle manager Rich Media Flickr Over 2 billion images YouTube 5 billion U.S. video views a month 51% of users visit YouTube weekly or more 52% of 18-34 year olds share videos often Micro-Blog Twitter 200,000 Active Users Per week 3 million messages per day
  5. 5. What are they doing online? <ul><li>Watch videos from other users 29% </li></ul><ul><li>Read online forums or discussion groups 28% </li></ul><ul><li>Visit social networking sites 25% </li></ul><ul><li>Read customers ratings/reviews 25% </li></ul><ul><li>Read Blogs 25% </li></ul><ul><li>Update/maintain a profile on a social meeting site 20% </li></ul><ul><li>Add comments to someone’s page 18% </li></ul><ul><li>Contribute to online forums and discussions 18% </li></ul><ul><li>Comment on someone else’s blog 14% </li></ul><ul><li>Upload photos to public web site 13% </li></ul><ul><li>Publish and maintain a blog 11% </li></ul>© 2009 Confidential | Think Innovation Source: Groundswell by top analysts Charlene Li and Josh Bernoff at Forrester Research, circa 2007
  6. 6. What matters online? <ul><li>Opinion of a friend or acquaintance who has used the product service 83% </li></ul><ul><li>A review of the product in mainstream offline media 75% </li></ul><ul><li>Information on the manufacturer’s web site 69% </li></ul><ul><li>A review by a known expert 63% </li></ul><ul><li>Consumer reviews on a retailer’s site 60% </li></ul><ul><li>Consumer reviews by users of a content site 52% </li></ul><ul><li>Information on consumer opinion sites 50% </li></ul><ul><li>An online review by the editors of a content site 49% </li></ul><ul><li>Information in online chat rooms and discussion forums 37% </li></ul><ul><li>Online review by a blogger 30% </li></ul>© 2009 Confidential | Think Innovation Source: Insights from Pew Internet and American Life project, quoted in Octane Corporation Report
  7. 7. Why Media Monitoring is a good way to do Market Research? © 2009 Confidential | Think Innovation Functions Solutions to issues like Reputation Management What do people think about my products/services? What do people think about competing products/services? Product Marketing What feature in my offering are people talking about What features in the competitions offering are hot? What features in the competitions offering is really bad? Channel Marketing What channels are competitors advertising on? What sites seem to have the most traffic? Engineering What are the issues people are facing in real life? What do customers and prospects like/dislike about competitors products? Inside Sales Who are the disgruntled customers that I can target? What can I tell people about the competition that will position my products better? Marketing What are the hot topics people are discussing? What messages are closer to current conversations? Regulatory issues and Compliance What laws affect my product in different geographies? E.g. eco legislation that makes it cheaper to make electric cars in Norway vs Sweden.
  8. 8. Who is doing it? <ul><li>B2C world </li></ul><ul><ul><li>Banks & Financial service industry </li></ul></ul><ul><ul><li>Eco friendly consumer products </li></ul></ul><ul><ul><li>Movies and entertainment </li></ul></ul><ul><li>B2B world </li></ul><ul><ul><li>Large publicly held technology company </li></ul></ul><ul><ul><li>Medium sized player in the security space </li></ul></ul><ul><ul><li>Large player in a mainstream manufacturing company </li></ul></ul><ul><ul><li>Startup in the “cloud computing” space </li></ul></ul><ul><li>P2P world </li></ul><ul><ul><li>Professional communities </li></ul></ul>© 2009 Confidential | Think Innovation
  9. 9. Sample Dashboard © 2009 Confidential | Think Innovation
  10. 10. How do I get started? © 2009 Confidential | Think Innovation
  11. 11. What do I measure? <ul><li>Aggregate metrics </li></ul><ul><ul><li>Counts </li></ul></ul><ul><ul><li>Conversation Shares </li></ul></ul><ul><ul><li>Competitors </li></ul></ul><ul><ul><li>Content types </li></ul></ul><ul><li>Individual metrics </li></ul><ul><ul><li>Relevance </li></ul></ul><ul><ul><ul><li>Rank 1-10 </li></ul></ul></ul><ul><ul><li>Sentiment </li></ul></ul><ul><ul><ul><li>Positive </li></ul></ul></ul><ul><ul><ul><li>Negative </li></ul></ul></ul><ul><ul><ul><li>Neutral </li></ul></ul></ul><ul><li>Qualitative </li></ul><ul><ul><li>Product announcements </li></ul></ul><ul><ul><li>Insights </li></ul></ul><ul><ul><li>Influencers </li></ul></ul>© 2009 Confidential | Think Innovation
  12. 12. Strategy for every (Business) Goal <ul><li>Driving Participation </li></ul><ul><li>Competitive Product analysis </li></ul><ul><li>Competitive Collateral analysis </li></ul>© 2009 Confidential | Think Innovation
  13. 13. Aligning Media monitoring with Business goals <ul><li>Driving participation in community </li></ul><ul><li>Methodology </li></ul><ul><ul><li>Identify forums and communities </li></ul></ul><ul><ul><li>Rank based on membership, activity and recency </li></ul></ul><ul><ul><li>Identify topics in selected verticals </li></ul></ul><ul><ul><li>Seed topics in owned community </li></ul></ul><ul><ul><li>Participate in forums and communities to drive traffic </li></ul></ul>© 2009 Confidential | Think Innovation Metric Month 1 Month 6 Registered Users 36 1200 New Topics 36 230 Posts 83 820 Views 1898 106334
  14. 14. Aligning Media monitoring with business goals <ul><li>Competitive product analysis </li></ul><ul><ul><li>Competitive product weaknesses </li></ul></ul><ul><ul><li>Customer support resolution times </li></ul></ul><ul><li>Methodology </li></ul><ul><ul><li>Identified competitor forums </li></ul></ul><ul><ul><li>Daily monitoring to identify issues as soon as they were reported </li></ul></ul><ul><ul><li>Issue frequency analysis to separate real issues from site specific challenged </li></ul></ul>© 2009 Confidential | Think Innovation
  15. 15. Aligning Media monitoring with business goals <ul><li>Competitive product analysis </li></ul><ul><ul><li>Competitive product weaknesses </li></ul></ul><ul><ul><li>Customer support resolution times </li></ul></ul><ul><li>Methodology </li></ul><ul><ul><li>Identified competitor forums </li></ul></ul><ul><ul><li>Daily monitoring to identify issues as soon as they were reported </li></ul></ul><ul><ul><li>Issue frequency analysis to separate real issues from site specific challenged </li></ul></ul>© 2009 Confidential | Think Innovation
  16. 16. Aligning Media monitoring with business goals <ul><li>Competitive collateral and channel analysis </li></ul><ul><ul><li>What channels are competitors running campaigns on? And how are they changing? </li></ul></ul><ul><ul><li>What are the collateral pieces that they have created? </li></ul></ul><ul><li>Methodology </li></ul><ul><ul><li>Monitored competitor, media, channel sites </li></ul></ul><ul><ul><li>Created and monitored collateral map </li></ul></ul><ul><ul><li>Created and monitored collateral topics </li></ul></ul>© 2009 Confidential | Think Innovation
  17. 17. Case Study – Worlds Leading Bank – Geography India
  18. 18. Case Study 1 – Worlds Leading Bank <ul><li>Scenario </li></ul><ul><ul><li>Money transfer to India - $45 bn business in 2008 </li></ul></ul><ul><ul><li>Leading player in this space </li></ul></ul><ul><ul><li>Multiple players – both local and global entering the market </li></ul></ul><ul><li>Results </li></ul><ul><ul><li>Identified key product issues </li></ul></ul><ul><ul><li>Helped solve over X vocal complaints </li></ul></ul><ul><ul><li>Identified key customer themes to create messaging </li></ul></ul><ul><ul><li>Identified key sites to target banner/affiliate programs </li></ul></ul><ul><ul><li>Competitive product benchmarking across multiple product offerings in different geographies </li></ul></ul><ul><li>Leverage </li></ul><ul><ul><li>Expansion of Adwords program to double lead volume </li></ul></ul><ul><ul><li>Increase banner ad clickthroughs by better targetting </li></ul></ul><ul><ul><li>Tweak product messaging </li></ul></ul><ul><ul><li>Reduce disgruntled customers </li></ul></ul>© 2009 Confidential | Think Innovation
  19. 19. The Business Case <ul><li>No need to setup panels, recruit, reward </li></ul><ul><li>Disproportionate Return on Investment </li></ul><ul><ul><li>Channel </li></ul></ul><ul><ul><li>Competition </li></ul></ul><ul><ul><li>Messaging </li></ul></ul><ul><ul><li>Analysis </li></ul></ul><ul><ul><li>Influence </li></ul></ul><ul><li>Leverage vendors to get rid of the learning curve </li></ul><ul><li>Onshore-Offshore model provides cost arbitrage </li></ul>
  20. 20. About Regalix <ul><li>Forefront of Online Marketing, Research and Web 2.0 portals </li></ul><ul><li>Multi-disciplinary Leadership Team </li></ul><ul><li>Fortune 500 and Venture-Backed Customers (B2B and B2C) </li></ul><ul><li>Global Operations: HQ in Silicon Valley, 4 Offices </li></ul><ul><li>150+ Team, Built on 8+ years of research </li></ul><ul><li>Recognition </li></ul>© 2009 confidential | Think Innovation
  21. 21. Thank You! Learn more about Regalix at: www.regalix.com Contact: Alok Ramsisaria VP Operations Email: [email_address] com © 2009 Confidential | Think Innovation