Future Midwest - Consumer Insights and Analytics that Drive Digital & Social Strategies
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This document discusses trends in data usage and analytics. It notes that more data is now generated by individuals than in all of human history prior to 2008. It outlines several trends related to social media going global, increasing mobile demand, and the growing amount of data from various devices. The document emphasizes using data to gain insights and achieve business outcomes, identifying insights linked to desired outcomes, and listening to and observing consumers. It provides examples of analyzing social data to understand key conversation drivers and segmenting data by different dimensions. Finally, it lists several analytics and insights resources.
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Future Midwest - Consumer Insights and Analytics that Drive Digital & Social Strategies
- 1. Future Midwest #FMW10 @kenburbary
- 2. Connect with your data
- 3. Trend #1 – Social goes global
- 4. Trend #2 – Mobile Demand
- 8. Device Diversification Nike Plus Edible micro-pills
- 9. “In 2009, more data was generated by individuals than in the entire history of mankind through 2008” -Andreas Weigend, the former Chief Scientist at Amazon.com Trend #3 – Data Era
- 10. Gimme Data & Insights! No Looking Back, Sink or Swim
- 14. Email Marketing
- 15. Online Video
- 16. Websites
- 17. Mobile Marketing
- 18. Social Media
- 19. Webinars
- 21. Dedicate yourself to Outcomes! Outcomes = the purpose for which your website/application/user experience exists No Outcomes = Unhappy Bosses Don’t live data rich and insights poor! Don’t be in the business of producing data Data should exist to serve the needs of the business and provide insights that can be ACTED UPON to produce OUTCOMES!
- 22. Identify insights that connect to desired outcomes Source: Mohan Sawhney, Kellogg School of Management
- 23. We’re the same! Attribution:http://adamhcohen.com/cognitive-bias-in-social-media-strategy Beware Cognitive Bias
- 26. The New Model…
- 27. Clickstream & Multiple Outcomes Analysis Q1. What is happening on my site? Q2. How much of each thing is happening on my site?
- 28. Web Analytics – Experiment & Test
- 29. Google Ad Planner Site Metrics User Interests Related Sites/Subdomains
- 30. YouTube Insights for Audience Demographic Data Geographic Data Engaged Audience Search Terms
- 31. Search Insights FACT Geographic Data
- 32. Competitive Web Site Research
- 33. Competitive Web Site Research Related Sites Geographic Data
- 34. Jaffe Juice Tag Cloud by http://www.wordle.net
- 35. EngagementMetrics Why does it matter? Makes all marketers data-marketers Demographic Data Activity Metrics Facebook Engagement Insights
- 36. Discover - Harvest relevant social data Analyze - Separate signal from noise Segment - Segment social data by business function and/or defined categories Strategize & Integrate – Make listening outputs a regular input that informs the strategic planning process Execute – Informed action based on insights from strategic listening Voice of the Customer Framework
- 37. Social Data Analytics Insight Example #1:Key events drove spikes in conversation (CPG brand) Conversation driver:Product Release “The white and grey Nike MVpuppets Tee shirts are both dropping at Brand Xs all over the place” Conversation driver: Product Release “I just went to Brand X, bought myself a kobe puppet tshirt!” Conversation Driver: Product Release “Nike Air Max is not just some new color that nike released to sell at Brand X…this shoe has a special value” Conversation driver: Company Event “Brand X Hires John Doe As CEO..”
- 39. Majority of events triggering conversations include concerts, signing, sweepstakes, etc.
- 40. Only 5% of conversations online pertain to sales, indicating price is not a primary concern among Brand X customers conversing onlineBreakdown by Event Trigger “…Other 2009 releases include: white/red 12s, infrared 7, space jams, an orlando magic pack (i forget the numbers) and some other s**t i dont remember but true blues are definitely coming out stateside” “Brand X also has excellent customer service. Returned defective shoes (for the second time) without a receipt, have a store credit now....” “heads up to san diego peeps Brand X in mission valley mall has the white 4 rings in.... 1 m left, 2 l's, 3 xl's and i think 1 or 2 xxl and xxxl. i advise getting there as soon as they open to get what you want!”
- 41. Social Data Analytics Example #3:Identify insights by combining different dimensions together (CPG brand) “Went to the mall today, bought a USC hoody from BrandX....” “why are the metallics (green, red) not being sold at Brand X, eastbay or finishline? the release date was july 4th but they are only sold at some select stores online; is there a reason that Brand X and finishline are not releasing them?” “…try some of these stores near your area. disregard the Brand Xs, they are worthless when it comes to specializing in shoes that fit your need.” “…just picked a white one up from Brand X in so. cal. the white one is the best yet. very clean lookin' with the purple wristband. Image”
- 42. Jackpot!
- 44. Real-time Local Trends http://trendsmap.com
- 48. Insights & Analytics Resources Occam's Razor by AvinashKaushik - http://www.kaushik.net/avinash Actionable Analytics by Jonny Longden - http://actionable-analytics.com/ Industry Insights by Omniture - http://blogs.omniture.com/ Six Pixels of Separation by Mitch Joel - http://www.twistimage.com/blog/ Kaizen Analytics by Michael Nottes - http://www.kaizen-analytics.com/ Nielsen Insights - http://en-us.nielsen.com/insights ComScore Voices - http://blog.comscore.com/ Hitwise Intelligence - http://weblogs.hitwise.com/ Web Analytics Demystified by Eric Peterson - http://blog.webanalyticsdemystified.com/weblog/
Editor's Notes
- Average user globally spends approx 5.5 hours month on social networks in 2009, which is an 82% increase from 2008Facebook – Over 400mm with 70% of that outside the US (280mm)
- Content creation and consumption moving from desktops/laptops to mobile devices
- Average Cell Phone = 70% Voice…iPhone = 45% Voice Data accounting for 70-90% total carrier network traffic NTT/Vodaphone
- Video from SimpleGeo showing checkins during SXSW2010
- Data era is here, and forced upon us in ways we are only beginning to understand
- Today, the online world has shifted to a model of collaboration and explicit data creation. A good system does not try to trick customers into revealing demographics or contact information that is useful for the company. it rewards users with information that is useful to them.
- How many have heard these: build me a website? We need a social networking site! I need a twitter strategy. We’ve all been there. This is NOT a data-drivenstrategy
- Ask the hard questions about your site: What things are happening? How much of each? Why are these things occurring? Are you fulfilling the consumer’s needs?
- Attribution: Adam Cohen - http://adamhcohen.com/cognitive-bias-in-social-media-strategyA cognitive bias is the human tendency to draw incorrect conclusions in certain circumstances based on cognitive factors rather than evidence. Such biases are thought to be a form of “cognitive shortcut”, often based upon rules of thumb, and include errors in statistical judgment, social attribution, and memory.
- Examples:Panels: P&G TremorSocial Media Monitoring – Conversation MiningResearch Communities – CommunispaceSurveys – Email like SurveyMonkeyCustomer Satisfaction – Traditional Data ReviewFocus GroupsFace-to-Face – Home Depot example
- The best thing you can do for your marketing efforts — and for your business — is to learn what really drives purchase among your customers through audience segmentation research. Find out WHY they buy what they do, and what they’re interested in. If you can, find out for each and every customer you have. The worst mistake we can make is to assume we know. And the easiest thing to do is simply ask, and listen to the answers.
- It is a new way to think about web data and new sources of data, which builds the complete picture of customer behavior in websites: in-site and off-site, online and offline, quantitative and qualitative.
- Clickstream analysis is the process of collecting, analyzing, and reporting aggregate data about which pages visitors visit in what order. Identify and understand customer pathways,reveal usage patterns, which in turn gives a heightened understanding of customer behaviorCANNOT tell you about the quality of interactions
- The most interesting outcome about experimenting is often not the final result; but rather the learning about the customer along the way
- Google Ad Planner insights
- YouTube Audience Insights
- Insights for Search: Identify rising and falling trends, target and optimize PPC campaigns, forecasting popularity of future keywords, analyze core term(s) performance, identify geographic demand trends, identify related and rising terms
- Compete.com Insights: Analyze traffic and engagement metrics, identify sites for link building, analyze competitor keywords and search strategies
- Google Trends Insights: Analyze traffic and engagement metrics, identify sites for link building, analyze competitor keywords and search strategies
- Tag Cloud Insights: Use tag clouds to work with large data sets. Useful for analyzing keywords being used to search on your site. Are the terms you should be dominating represented? In this case Jaffe should be happy, the primary focus on customer and service reflects what he is all about. Can be used to validate a SEO strategy
- Facebook Engagement Insights
- Social Media Monitoring: Voice of the Customer Framework - http://www.kenburbary.com/2009/10/introducing-the-social-analytics-lifecycle/
- Social Data Analytics - Insights Ex#1
- Social Data Analytics - Insights Ex#2
- Social Data Analytics - Insights Ex#3
- General Mills example: They have data going back to 2007 for their Fiber One Bar that correlates social media with super market lift. It shows pretty incredible “exact correlation between online posting and volume” without offline advertising or online display advertising – just social media
- Tools: SAS Social Media Analytics Platform: Analyze conversation data. Identify advocates of, and threats to, corporate reputation and brand. Quantify interaction among traditional media/campaigns and social media activity.
- Tools: Trendsmap.com - Identify local trending topics, issues, areas of interest to inform geo-targeted PPC campaigns, content strategies
- Future Analytics TrendsExample: Critical Mass' new MediaBank's A|X-powered analytics dashboard is a new tool for the agency's Marketing Science group, a multi-dimensional measurement unit unveiled late last year. The group's mission is to gather insights that drive accountability and improve effectiveness for various marketing initiatives.
- Example: Critical Mass' new MediaBank's A|X-powered analytics dashboard ds