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Post from channel 123

  1. 1. By Dr. Natalie Petouhoff@drnataliewww.drnatalienews.com/blogReal Social MediaMonitoring Case StudiesDemystifying theROI of Social Media
  2. 2. 2Agenda•Look at real case studies•Set-up a social mediameasurement program•Calculate business impact & ROI@drnatalie
  3. 3. •Learning is the desire to discover new thingsWe are amazed by new things…@drnatalie
  4. 4. •@drnatalieIt’s thenew shinyobjectAnd SocialMedia?@drnatalie
  5. 5. But the amount ofinformation– can feel like aninsurmountable blur@drnatalie
  6. 6. It can generally be useless@drnatalie
  7. 7. Today’s goal is to…Provide…•Marketers•Brand Managers•Product Managers•Consumer Insights Teams &•Market Research ProfessionalswAn understanding of thebenefits of:•Having deep, real-time insights•Using insights to make businessdecisions &•Being able to be an invaluableresource to CEO- suite@drnatalie
  8. 8. ssssTo TAKETHECHAOSTOORDERUsing context@drnatalie
  9. 9. 9Business As UsualExecutives want to knowwhat the business valueof social media is@drnatalie
  10. 10. Misconceptions of ROI•That’s funny•But ROI is not obvious to everyone•And your boss would like a number@drnatalieYou may have heard…“Would you calculate the ROI ofyour mom or your pants?Then why would you calculatethe ROI of social media?It’s obvious!”http://www.flowtown.com/blog/what-is-the-roi-of-your-mom@drnatalie
  11. 11. Misconceptions of ROI“ROI is too difficultbecauseI’m nota “math” person.”@drnatalie
  12. 12. Misconceptions of ROI…There’s a change in metrics!!•We have 500 more “Likes”•10X click-thru rate on “Buy Now” button•$5M in annual support savings & sales advocacy•Viral videos increased company sales +700%•Social microsites secured 1,000,000 fans and a 10%increase in same-store salesEI have an ROI!!eNote to self:Metrics are necessary…But they are not ROI@drnatalie
  13. 13. Real-worldExamples@drnatalie
  14. 14. Analyzed online conversations:•Their brand•Key competitorRan nat’l ad campaigns & wants to understand:•Effectiveness of messages and•Drivers of consumer purchase intentCase Study:Major InsurerAdvertising Effectiveness & Competitor Evaluation@drnatalie
  15. 15. Insurer Ad Effectiveness•Insurer’s ad campaign is liked•Didn’t generate conversation aboutbuying or switching insurers@drnatalie
  16. 16. Insurer Ad Effectiveness•Insurer’s ad campaign is liked•Didn’t generate conversation aboutbuying or switching insurers•Competitor ad campaign is more divisive@drnatalie
  17. 17. Insurer Ad Effectiveness•Insurer’s ad campaign is liked•Didn’t generate conversation aboutbuying or switching insurers•But spurs a conversation trend related topurchasing•Competitor ad campaign is more divisive@drnatalie
  18. 18. Conclusion of social media monitoring•Both campaigns generatehealthy “buzz”•But positive sentiment doesn’treflect intent to purchase•Using context avoidsmisinterpreting positivesentiment for a social buyinggesture- intent to purchase@drnatalie
  19. 19. ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the InvestmentCostsWhat is the cost?• People- to do the analysis• Process- process to compile theinformation• Technology- social mediamonitoring toolWhat is the benefit?•If the commercial drove sales?•Number of leads?•What is a lead worth?•Number of lead conversions?•What’s a sale worth?@drnatalie
  20. 20. Case Study:Craft CompanyProduct Development & MarketingWants to understand:•What topics dominate craft-related conversations?•Is marketing having the desired effect?•What’s lacking in the product line and accessories?@drnataliecccccccccc
  21. 21. Identified New Product OpportunitiesDiscovered opportunity todevelop more male-centricproduct line & accessoriesConsumers’ expressed strongdesire for:•More & better supplies &accessories•Improved access to purchasethose accessories@drnatalie
  22. 22. •In-house Research•Quickly and cost effectivelyidentifies new product & marketopportunities•Prompts development of newproduct accessories•Enables additional sales•Expands market share•Marketing•Gained increased confidenceleveraging social-media•Confirmed effectiveness of currentmessaging and promotionalapproachConclusions of social mediamonitoring@drnatalie
  23. 23. ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the InvestmentCostsWhat is the cost?• People- to do the analysis• Process- process to compile theinformation• Technology- social mediamonitoring toolWhat is the benefit?•What does it cost the company to go to marketwith a product that isn’t what customers reallywanted?•What would this type of market researchnormally cost the company?•How long would it normally take to get that kindof feedback? What’s the general cost forproduct dev to launch a product?•What’s the value of fnding a new product toprovide their market?•What was the value in revenue of the newproducts/ accessories?•What’s the value of key messaging that works?Higher lead conversation rate?@drnatalie
  24. 24. Case Study:Medical Device for Diabetes & InsulinProduct Launch Marketing•What core messages will resonate mostwith these consumers?•How do patients discuss the complexitiesof treatment & control?•What is the significance for the newproduct launches?Wants to understanddiabetes & insulin:@drnatalie
  25. 25. LifestyleConsumers’ ConcernsTop ConversationsLifestyleTreatmentSuccessSupportDevice comments?LOWER@drnatalie
  26. 26. Opportunity for brand to:•Get more engaged•Become trusted-partner•Create a online Community for•Advice•Recommendations•Shared-supportConclusions of social mediamonitoring@drnatalie
  27. 27. ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the InvestmentCostsWhat is the benefit?•What’s the value in knowing what to put the emphasis ofcontent online?•I.e.., to create an editorial calendar that hascontent that specifcally addresses why peoplemight not use their medicine•And which means that don’t feel as well and theydon’t live as long or buy the medicine- whichaffects sales•What is the value of becoming a trusted resource forpatient concerns? Enhanced brand trust?•Did the online community:•Deflect any calls to the call center?•Increase the efciency or effectiveness of the calls?•Did the company use the content in thecommunity to update their FAQs or knowledgebase which helped self-service?What is the cost?• People- to do the analysis• Process- process to compile theinformation• Technology- social mediamonitoring tool@drnatalie
  28. 28. Case Study:Healthy Snacking & KidsCampaign Planning: Product Launch & MarketingWanted to know the nature of online conversations:•Concerns parents have providing kids a healthy diet•What factors drive purchase decisions and habits?@drnatalie
  29. 29. “Healthy” in Kids Snack Foods:More Effectively Resonatewith ConsumersNutritionAllergiesTopConversationsConvenienceTasteNot as High@drnatalie
  30. 30. Opportunities for Brand:•Better launch messaging•Product packaging•On-going campaign messagingConclusions of social mediamonitoring@drnatalie
  31. 31. ROI of social mediaROI = Benefits - Costs x 100 = Percentage Return on the InvestmentCostsWhat is the benefit?• What’s the cost of market research?• Focus group of 12 people = 15K• How many would you need to do to getthe same volume of content?• 12 x $15K = $180,000• What’s the value of targeting themessage for a campaign?• What’s the value of being able to run anAB test of taste vs. allergies to seewhich one really gets the mostresponses?ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the InvestmentCostsWhat is the cost?• People- to do the analysis• Process- process to compile theinformation• Technology- social mediamonitoring tool@drnatalie
  32. 32. How to Set-up A SocialMedia MeasurementProgram6. Hone the analysis / teach the system7. Analyze the information8. Create appealing presentation of data9. Present information to stakeholders10. Take action on the data & repeat!@drnatalieHow to Monetize FacebookWith Social CommerceBy Dr. Natalie1. Get executive buy-in & support2. Choose Staff3. Determine your business goals•Product Development•Product Launch•Product Marketing…4. Choose a social media monitoring system5. Start listening to online conversations
  33. 33. Wayne St. AmandVice President, Marketing
  34. 34. SOCIAL MEDIA IS EVERYWHERE,AND EVERYONE IS USING IT.WE ANSWER THE QUESTIONS.
  35. 35. 1.75 BILLIONPOSTS PERWEEK100+ BILLIONPOSTS TO DATE250+ MILLIONPOSTS PER DAY
  36. 36. MASSIVE OPPORTUNITYNOT FULLY LEVERAGED BY MOST•Social media is the largest source of unfilteredinformation ever available about howconsumers truly think and feel•The vast majority of companies have yet totake advantage of this intelligence toinfluence their business decisionsAchieving Social IntelligenceThe management and analysis of customer data from social sources,used to activate and recalibrate marketing and business programs.
  37. 37. SOCIAL INTELLIGENCE CREATES ACTIONABLEINSIGHTSTrue Social IntelligenceDelivers•Consumer insights todrive business success–Greater marketingeffectiveness–On-target productplanning–Deeper competitiveinsightsHowever, most of today’s tools do a terrible jobof helping you achieve true Social Intelligence
  38. 38. MOST SOCIAL MEDIA MONITORING ISBROKENKeywords and semantics don’t work well in social media•Traditional tools lack the ability to understand context•A computer cannot replace human judgment•Human analysts cannot scale or provide consistency•Predefined rules cannot support the dynamic nature of the social mediaconversation•Surface-level monitoring lacks accuracy and deep insightNLPSemanticSearchManual-codingKeywordSentimentMonitoring
  39. 39. 9THE CRIMSON HEXAGON FORSIGHT® PLATFORM
  40. 40. ScalableAccurateReplicableA REVOLUTIONARY APPROACHContextNuanceJudgment
  41. 41. Positive66%Major Automotive BrandSENTIMENT ALONE IS INCOMPELTE102,784mentions11%Neutral
  42. 42. ANALYTICS BEYOND SOCIALCustomerFeedbackMarket ResearchSocial WebFacebookPagesPROPRIETARY ONLINE
  43. 43. GLOBAL CONVERSATION‫الخير‬ ‫صباح‬Grüßgot早上好hejbonjourΓεια σουselamat pagi konbanwa안녕하세요zdravstvuytemerhaba selamboassawa dee-kanamaskar
  44. 44. ADDITIONAL RESOURCES:Request an Online Demo:http://www.crimsonhexagon.com/products/request-a-live-demoCustomer Case Studies:http://www.crimsonhexagon.com/customers/#casestudiesOverview Video:http://www.crimsonhexagon.com/products/overview-video/Data Sheets & White Papers:http://www.crimsonhexagon.com/products/whitepapers/

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