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Closing the gap: The disconnect between marketing technology and business value

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In this webinar we discuss the challenges marketers face when trying to prove the value of social.
The discussion is firstly centered around the difficulties involved in measuring actual performance on social, with the lather half of the webinar focusing on how social intelligence and informed data can help bridge the gap and provide real results.

Published in: Social Media

Closing the gap: The disconnect between marketing technology and business value

  1. 1. 1 #brandwatchtips © 2015 Brandwatch.com Webinar/ Closing the Gap: The Disconnect between Marketing Technology & Business Value CMO, Brandwatch will@brandwatch.com | @willmcinnes Will McInnes VP & Principal Analyst, Forrester Research nelliott@forrester.com| @nate_elliott Guest speaker: Nate Elliott
  2. 2. 2 #brandwatchtips © 2015 Brandwatch.com2 Don’t be shy/ We’d love your participation • Ask questions in the session chat • Tweet about our discussion @brandwatch #brandwatchtips A download and recording of the webinar will be made available after the event
  3. 3. 3 #brandwatchtips © 2015 Brandwatch.com Coming Up • The Challenges of Social Media • Why Point Solutions Outperform Social Suites • Enterprise Social Intelligence • 5 Ways to ‘Close the Gap’ • Q & A
  4. 4. Buy Social Point Solutions, Not Social Suites Nate Elliott, Vice President and Principal Analyst August 4th, 2015
  5. 5. © 2015 Forrester Research, Inc. Reproduction Prohibited 5 Today’s Agenda ›The challenges of social media ›Why point solutions outperform social suites
  6. 6. © 2015 Forrester Research, Inc. Reproduction Prohibited 6 Today’s Agenda ›The challenges of social media ›Why point solutions outperform social suites
  7. 7. © 2015 Forrester Research, Inc. Reproduction Prohibited 7 Social is now table stakes for most marketers
  8. 8. © 2015 Forrester Research, Inc. Reproduction Prohibited 8 US marketers will spend $9.7b on social in 2015
  9. 9. © 2015 Forrester Research, Inc. Reproduction Prohibited 9 And yet marketers can’t prove to their bosses that social delivers business value
  10. 10. © 2015 Forrester Research, Inc. Reproduction Prohibited 10 Marketers’ social challenges range from measurement to content to finding the right partners
  11. 11. › It doesn’t help that we’re willing to accept nearly any social metric Measurement has been social marketers’ top challenge for more than a decade
  12. 12. © 2015 Forrester Research, Inc. Reproduction Prohibited 12 It doesn’t help that we’re willing to accept nearly any social metric
  13. 13. › It doesn’t help that we’re willing to accept nearly any social metric › Smart marketers are looking beyond engagement metrics • No one’s ever shown a correlation to business value • Even Facebook now says engagement “is not a reliable indicator” › Find metrics you use to measure search, email, and other channels • Clicks • Site traffic • Leads • Sales Measurement has been social marketers’ top challenge for more than a decade
  14. 14. › Let’s map the content we produce to where people are in their journey › When they’re first discovering, offer content that shows your product can solve their problems Find the right social content by focusing on the customer life cycle
  15. 15. © 2015 Forrester Research, Inc. Reproduction Prohibited 15 Word of mouth and social ads drive discovery
  16. 16. © 2015 Forrester Research, Inc. Reproduction Prohibited 16 Fashion brand Kocca used WOM to show off its new items, and increased site visits by more than 900%
  17. 17. › Let’s map the content we produce to where people are in their journey › When they’re first discovering, offer content that shows your product can solve their problems › When they’re exploring your products, offer detailed content about your offering (and show them what other customers think) Find the right social content by focusing on the customer life cycle
  18. 18. © 2015 Forrester Research, Inc. Reproduction Prohibited 18 Social content on brand sites supports exploration
  19. 19. © 2015 Forrester Research, Inc. Reproduction Prohibited 19 B2B security vendor Webroot put customer testimonials on its product pages an increased leads by 3.4x
  20. 20. › Let’s map the content we produce to where people are in their journey › When they’re first discovering, offer content that shows your product can solve their problems › When they’re exploring your products, offer detailed content about your offering (and show them what other customers think) › When they’re engaging after purchase, offer content that tells them how to get more value from their purchases Find the right social content by focusing on the customer life cycle
  21. 21. © 2015 Forrester Research, Inc. Reproduction Prohibited 21 Customer communities and social profiles drive post-purchase engagement
  22. 22. © 2015 Forrester Research, Inc. Reproduction Prohibited 22 Barclaycard’s customer community got tens of thousands more people using its cards to book travel
  23. 23. © 2015 Forrester Research, Inc. Reproduction Prohibited 23 Today’s Agenda ›The challenges of social media ›Why point solutions outperform social suites
  24. 24. © 2015 Forrester Research, Inc. Reproduction Prohibited 24 Social technology vendors stand ready to help marketers with (almost) every part of social marketing
  25. 25. © 2015 Forrester Research, Inc. Reproduction Prohibited 25 Base: 56 Marketers Source: Q1 2014 Social Marketing Online Survey Many social marketers aren’t thrilled with their vendors
  26. 26. That’s one reason marketers are enthralled by the promise of social suites
  27. 27. › Even the best social suites force marketers to use substandard tools But social suites offer more problems than solutions
  28. 28. But even the best social suites force marketers to use substandard tools
  29. 29. › Even the best social suites force marketers to use substandard tools › Integrated social suites remain an empty promise • Vendors’ integration plans rarely succeed • Social tools don’t benefit from deep integration anyway But social suites offer more problems than solutions
  30. 30. That’s why clients of social suites are much less satisfied with their vendors than clients of point solutions
  31. 31. Thank you forrester.com Nate Elliott nelliott@forrester.com
  32. 32. 32 #brandwatchtips Review: The Challenges
  33. 33. 33 #brandwatchtips So . . . we have two problems 1. Poor ROI for ‘social marketing’ 2. Suites less satisfying than point solutions
  34. 34. 34 #brandwatchtips What’s next? Enterprise Social Intelligence Enterprise Listening Social Analytics Social Data
  35. 35. 35 #brandwatchtips Enterprise Social Intelligence delivers. . . 1. Clearer, more credible ROI by blending social with non-social data 2. Gives insight into broad marketing & business value - beyond ‘social marketing’ 3. Overcomes suites vs. point challenge through integration and distribution
  36. 36. 36 #brandwatchtips Components of Enterprise Social Intelligence PEOPLECONVERSATION S PLACES IMAGES Listening and analyzing conversations based on keywords and content Discovering and understanding custom audiences and segments to better understand the “who” for better targeting Using location data to unlock the power of “where”, understand purchasing behaviors and global audiences Integrating images & video to understand the full impact of your footprint
  37. 37. 37 #brandwatchtips Getting practical.
  38. 38. 38 #brandwatchtips 5 ways to ‘Close the Gap’ 1. Who 2. What 3. Where 4. Why 5. How
  39. 39. 39 #brandwatchtips 5 ways to ‘Close the Gap’ 1. Who - who can we deliver insights and value to in the organization? 2. What 3. Where 4. Why 5. How
  40. 40. 40 #brandwatchtips Do an organizational audit Simply ask: • Which functions could benefit from the social intelligence you have? This is really about putting the Enterprise into Enterprise Social Intelligence!
  41. 41. 41 #brandwatchtips 1. Thinking about the organization Social Listening Management Advanced Analysis Distribution Dept. Dept. Dept. Dept. Use Cas e Use Cas e Use Cas e
  42. 42. 42 #brandwatchtips 1. Thinking about the Use Cases Product Development Operations & Distribution Sales & Marketing Customer Service Business Support Customer insights Consumer insights Product feedback Competitor intel Demand forecasting Supply chain monitoring Location scouting Consumer insights Marketing campaigns Reputation management Social selling Social customer care Customer experience Training issues Product feedback Realtime alerts Recruitment Employee compliance Security & Risk management Fraud detection
  43. 43. 43 #brandwatchtips 5 ways to ‘Close the Gap’ 1. Who 2. What - what can we enrich social data with to create much more valuable insights? 3. Where 4. Why 5. How
  44. 44. 44 #brandwatchtips 2. What Marketing & Advertising ● Web analytics ● Advertising data ● CRM (first-party customer data) ● POS data ● Third-party demographic data ● TV schedules & ratings ● Advertising weight ● Bid price ● Press Release activity ● Search trends ● Search spend Broader business ● Loyalty card data ● POS data ● Weather ● News events ● Stock price ● Geolocation from mobile devices ● Internet of things data ● Vehicle and other asset data ● Public and Govt data ● Use your imagination!
  45. 45. 45 #brandwatchtips Find it, blend it, win it. So find the data – ask around, ask your client or stakeholders, the IT/IS function or Data teams and speak with marketing technologists and agencies. Ask: • Which functions hold valuable data that we can fuse with social intelligence to create deeper, more valuable insights? (1:1 interviews are a great way to do this)
  46. 46. 46 #brandwatchtips 5 ways to ‘Close the Gap’ 1. Who 2. What 3. Where - where can these insights be blended, accessed and distributed to? 4. Why 5. How
  47. 47. 47 #brandwatchtips 3. Where?
  48. 48. 48 #brandwatchtips © 2015 Brandwatch.com 3. Where? In the end, every marketing stack is tailored – and will often combine suites with point solutions.
  49. 49. 49 #brandwatchtips 3. Where?
  50. 50. 50 #brandwatchtips 3. Where?
  51. 51. 51 #brandwatchtips 3. Where?
  52. 52. 52 #brandwatchtips 3. Where?
  53. 53. 53 #brandwatchtips 5 ways to ‘Close the Gap’ 1. Who 2. What 3. Where 4. Why - what does success look like? What’s the pot of gold at the end of the rainbow? 5. How
  54. 54. 54 #brandwatchtips Goal: Understand which brands and items their existing customers were talking about publicly and use that insight to sell more by being smarter. How: Acquired social media mentions for the key brands that they sell. Worked with a third party vendor to match social identities to their own CRM database Then used 1:1 personalization, at scale, to promote very targeted offers to customers through email marketing and ecommerce merchandizing. Outcome: Very high ROI on campaigns using this social intelligence-driven approach in digital marketing, advertising, email marketing, social media marketing, ecommerce. (ROI ‘made the leadership’s jaws drop’).
  55. 55. 55 #brandwatchtips Goal: Increase sales and put a real customer value on social interactions and investment. How: Used Social Intelligence to locate social mentions that mention car model names with ‘test drive’ and Rules, Categories and Tags to automatically filter these conversations by Colour, Model, Brand, Dealer etc. Then matched CRM details of known customers with social handles in these mentions to explore the potential of social CRM at scale… Outcomes: Increase in car sales from test drives Clear link from social through to lifetime value of customer Deep, personalized insights into product and CX feedback
  56. 56. 56 #brandwatchtips So why? Well imagine what you can do. . .
  57. 57. 57 #brandwatchtips 5 ways to ‘Close the Gap’ 1. Who 2. What 3. Where 4. Why 5. How
  58. 58. 58 #brandwatchtips 5. How? (Recap) • Who - Find the internal clients • What - Find the other data sources • Where - Use APIs and Integrations to integrate your Enterprise Social Intelligence into your MarTech stack (plenty of buzzwords there…) • Why - Run small practical proofs-of-concept that demonstrate real Return on Investment that show the ‘why’
  59. 59. 59 #brandwatchtips © 2015 Brandwatch.com Q & A
  60. 60. 60 #brandwatchtips © 2015 Brandwatch.com Find more content here: brandwatch.com/blog contact@brandwatch.com facebook.com/brandwatch @brandwatch plus.google.com/+brandwatch1

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