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Netbase AMA Sentiment Analysis Presentation


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Marketers can’t stop talking about social media, but how many understand how it can help them meet critical business objectives? Or what tools are available to analyze social media, how they compare, and which one is best suited for market research and brand managers?

This NetBase presentation will teach you:

How social media impacts your sales funnel.

Why understanding specific customer themes is important.

How to quantify conversations and get actionable insights that strengthen your brand.

How to use social analytics tools to efficiently get valuable competitive insights.

Published in: Business
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Netbase AMA Sentiment Analysis Presentation

  1. 1. Today’s Speakers Stephen Rappaport Knowledge Solutions Director, The ARF Author: Listen First! Dave Evans Author: Social Media Marketing Lisa Joy Rosner CMO, NetBase Eliska Johnson Global Project Consultant Knowledge & Insights
  2. 2. A Quick Poll Before We Begin… <ul><li>What is your Social Media IQ ? </li></ul><ul><ul><li>Tweeting is something birds do </li></ul></ul><ul><ul><li>I have a Facebook page, but really don’t use it. </li></ul></ul><ul><ul><li>I am on Facebook, LinkedIn and have 150 connections </li></ul></ul><ul><ul><li>I am on Facebook, Twitter, LinkedIn, with over 500 connections each and yes, since you asked, I am standing in line at Starbucks, where I just checked in on FourSquare! </li></ul></ul>
  3. 3. Dave Evans Author: Social Media Marketing Twitter: @evansdave Blog:
  4. 4. <ul><li>More than consumption </li></ul><ul><li>Starts with curation </li></ul><ul><li>Creation is part of it </li></ul><ul><li>Collaboration defines it. </li></ul>(Re)Define Engagement <ul><li>Advocacy </li></ul><ul><li>Purchase </li></ul><ul><li>Trial </li></ul><ul><li>Collaboration </li></ul><ul><li>Creation </li></ul><ul><li>Curation </li></ul><ul><li>Consumption </li></ul>Identify and focus on processes, metrics and measurements that a) relate to collaborative engagement (example: conversational intensity), and b) are applicable to your business objectives (example: net unique advocates).
  5. 5. Engagement on the Social Web Advocacy Collaboration Consumption
  6. 6. Engagement: Amex (Community) <ul><li>Business Objectives: </li></ul><ul><ul><li>Stronger Loyalty </li></ul></ul><ul><li>Approach Used: </li></ul><ul><ul><li>Customer Community </li></ul></ul><ul><li>What Was Done: </li></ul><ul><ul><li>Member small businesses connected with each other </li></ul></ul><ul><li>Results vs. Objectives </li></ul><ul><ul><li>>1 million monthly unique visitors </li></ul></ul>American Express OpenForum serves the interests of American Express business customers: As a result of this social design, is also serves the interests of American Express.
  7. 7. Engagement: Boingo (Support) <ul><li>Business Objectives: </li></ul><ul><ul><li>Excellent Service </li></ul></ul><ul><li>Approach Used: </li></ul><ul><ul><li>Listening/ Participation </li></ul></ul><ul><li>What Was Done: </li></ul><ul><ul><li>Twitter </li></ul></ul><ul><li>Results vs. Objectives </li></ul><ul><ul><li>Real-time resolution of local service issues (drives innovation) </li></ul></ul><ul><ul><li>Credit for resolution and caring (instead of negative conversation) </li></ul></ul>Service process combines telephone and Twitter-based resources. The result is public credit to Boingo for resolution.
  8. 8. Measuring Conversations <ul><li>Listening: What do people care about? </li></ul><ul><li>Setting a Baseline </li></ul><ul><li>Events, Trends and Noise </li></ul><ul><li>Measurement Platforms and Examples </li></ul>
  9. 9. The Impact of Conversations consumer-generated (Think “megaphone”) marketer-generated (Think “funnel”) word-of-mouth conversion impact use form opinion talk be aware consider buy
  10. 10. Assessing Engagement <ul><li>Dashboard view provides summary info, sentiment, top sources </li></ul><ul><li>Referrer data facilitates drill-down to sites </li></ul><ul><li>Site/source data can be examined for additional insights </li></ul>
  11. 11. Assessing Influence <ul><li>Influencers: Prioritizing, Connecting, and Activating </li></ul>
  12. 12. Assessing Advocacy <ul><li>Likelihood of Recommendation (0-10) </li></ul><ul><li>Share of Promoters (9-10) </li></ul><ul><li>Share of Detractors (0-6) </li></ul><ul><li>Difference is Net Promoter score </li></ul>% Strong Promoters - % All Detractors = Net Promoter Score, %
  13. 13. Poll #2 <ul><li>  </li></ul><ul><li>How interested are you in incorporating Social Media Market Research into your overall strategy? </li></ul><ul><li>Not at all Extremely </li></ul>| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide. 2 3 4 5 1
  14. 14. Stephen Rappaport Knowledge Solutions Director, The ARF Author: Listen First! Twitter: @steverappaport Blog:
  15. 15. Listening is … The study of naturally occurring signals conversations, behaviors and biometrics That may, or may not, be guided To bring the voice of people’s lives into the brand What people say, do and feel Emotions, mindsets, cultures Not just online sources Interdisciplinary
  16. 16. Two Ways to Think About Brands Creates Competitive Advantage Source:
  17. 17. Gain Competitive Edge through Signal Advantage The ability to capture, interpret and act upon signals from rich and dynamic data Advantage therefore accrues to companies that can focus on the right information , extract the relevant signals , process them rapidly, and modulate their organization’s behavior accordingly.
  18. 18. Signal Advantage Will Shift Research Investments Innovation Sense/Respond Evaluation
  19. 19. Market Research Will Deliver More Value Market research as “order takers” Market research as strategic foresight organization Traditional Market Research Business Contributors Strategic Insights Organization Insights as a Competitive Advantage 1 2 3 4 90% of benchmarked companies are clustered in bucket one and two
  20. 20. Marketing Objectives Achieved Through Listening <ul><li>Understand mindsets </li></ul><ul><li>Discover new customers </li></ul><ul><li>New product development </li></ul><ul><li>Shape and sharpen messaging </li></ul><ul><li>Improve existing products </li></ul><ul><li>Maintain sales momentum </li></ul><ul><li>Drive brand growth </li></ul><ul><li>Rebrand or reposition </li></ul><ul><li>Address public issues </li></ul><ul><li>Manage reputation </li></ul><ul><li>Manage brand health </li></ul><ul><li>Customer care </li></ul><ul><li>Increase loyalty and customer value </li></ul>
  21. 21. Research Tasks Listening Performs <ul><li>Profile new customers </li></ul><ul><li>Detect early market shifts </li></ul><ul><li>Customer segmentation </li></ul><ul><li>Complement “asking” research </li></ul><ul><li>Concept testing </li></ul><ul><li>Product co-creation </li></ul><ul><li>Discover/evaluate brand attributes </li></ul><ul><li>Message development/testing </li></ul><ul><li>Competitor analysis </li></ul><ul><li>Problem detection </li></ul><ul><li>Insight Development </li></ul>
  22. 22. Listening Solutions Cheat Sheet <ul><li>Text Analytics </li></ul><ul><li>Collect and harvest </li></ul><ul><li>Extract and structure </li></ul><ul><li>Describe, analyze, report; machine-scored sentiment </li></ul><ul><li>Integrate </li></ul><ul><li>Search, Real-time Search, Alerts </li></ul><ul><li>Terms, topics, trends; engine/service specific </li></ul><ul><li>Alerts and subscriptions </li></ul><ul><li>Real-time often add social data, such as retweets, influence </li></ul><ul><li>Can be analyzed on its own or become inputs </li></ul><ul><li>Private Branded Communities </li></ul><ul><li>Collect and harvest conversations and data </li></ul><ul><li>Guided and unguided activities </li></ul><ul><li>Describe, analyze, report; often qualitative </li></ul><ul><li>Engagement and research focus </li></ul><ul><li>Full-service Vendors </li></ul><ul><li>Provide end-to-end solutions </li></ul><ul><li>Analyze, report, consult </li></ul><ul><li>Some offer agency services </li></ul>
  23. 23. Listening Research Guide <ul><li>Setup </li></ul><ul><li>Scope … Questions </li></ul><ul><li>Voices … Who to Listen to </li></ul><ul><li>Sources … Brand & Consumer Backyard </li></ul><ul><li>Collect … Define Queries, Harvest </li></ul><ul><li>KPIs … Internal & Market Impacts </li></ul><ul><li>Operations </li></ul><ul><li>Collect … Conversations </li></ul><ul><li>Clean … Data, De-dup, Kill Spam </li></ul><ul><li>Test … Data Collection & Cleaning </li></ul><ul><li>Analyze/Report </li></ul><ul><li>Structure … Data for Analysis </li></ul><ul><li>Analyze … Question-based Analysis </li></ul><ul><li>Report … Dashboards, Docs, Stories </li></ul><ul><li>Evaluate & Iterate </li></ul><ul><li>Assess … </li></ul><ul><li>Improve … </li></ul><ul><li>Learn and Apply … </li></ul>
  24. 24. Listening Research: Keep in Mind <ul><li>Listening Goals </li></ul><ul><ul><li>Agree on these first </li></ul></ul><ul><li>Project Requirements </li></ul><ul><ul><li>Know them beforehand </li></ul></ul><ul><ul><li>Which questions will you answer? </li></ul></ul><ul><li>Eyes Wide Open </li></ul><ul><ul><li>Understand strengths and limitations </li></ul></ul><ul><ul><li>Figure out the trade-offs </li></ul></ul><ul><li>Management and Organization </li></ul><ul><ul><li>Determine who owns listening </li></ul></ul><ul><ul><li>Identify and involve listening “clients” </li></ul></ul><ul><ul><li>Assess skill sets and gaps: in-house, vendor </li></ul></ul><ul><ul><li>Estimate impact on staff time </li></ul></ul><ul><ul><li>Adapt culture and communication </li></ul></ul>“ We’re looking into listening, trying to figure out what to do with it. Otherwise we’ll get lots of stuff, but what does it mean?” - Director Global Strategic Insights, Fortune 100 Co.
  25. 25. New Skills <ul><li>Research Question Formation </li></ul><ul><li>Unstructured Data Expertise </li></ul><ul><li>Classification </li></ul><ul><li>Pattern Recognition </li></ul><ul><li>Bottom-up Reasoning </li></ul><ul><li>Communication Theory </li></ul><ul><li>Question-based Analysis </li></ul><ul><li>Triangulation </li></ul><ul><li>Creativity and Inventiveness </li></ul><ul><li>Openness </li></ul>
  26. 26. Poll #3 <ul><li>If you are thinking of doing Social Media Market Research what is holding you back? </li></ul><ul><li>  </li></ul><ul><li>Budget </li></ul><ul><li>Knowledge </li></ul><ul><li>Staff/Resources </li></ul><ul><li>All of the above </li></ul>
  27. 27. Eliska Johnson Global Project Consultant Knowledge and Insights [email_address]
  28. 28. Social Media in Action
  29. 29. How Do We Use NetBase for Social Research? | Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide. Trends Buzz/Sentiment Brand Passion/ Engagement Tracking Confirmational Insights New Insights Intensity Measuring
  30. 30. What is the Request Process? <ul><li>Can you look into what is being said about xxx? </li></ul><ul><li>Extract insights </li></ul><ul><li>Present findings </li></ul><ul><li>Determine next steps </li></ul>Brandscapes Analysis ConsumerBase Brand Manager Request <ul><li>Build search in ConsumerBase and develop report </li></ul>
  31. 31. Online Chatter Trends <ul><li>The Coke Zero 400 sponsored by Coca Cola on the 4 th of July helped to increase online chatter in early July. NASCAR related sites were responsible for most of the increased chatter during that time. </li></ul><ul><li>Chatter also rose slightly in mid July when Pepsi released a commercial for Pepsi MAX where a Coke Zero driver drinks a Pepsi MAX. This chatter was mostly on advertising and marketing focused sites. </li></ul>Past 12 months
  32. 32. What are Consumers Saying Online? I prefer Coke Zero because it feels like I'm doing something moderately healthy with my diet even though I've heard horror stories about aspartame. Nothing is better than Coke Zero. I can remember the first time I ever had one at some dumpy gas station. It's like a bottle full of AWESOME . My husband drinks a lot of Coke Zero too, mainly because he watches his weight very meticulously. I switched from Coke to Coke Zero mainly because I like the taste of Coke Zero better. I also went with Coke Zero over regular Coke since that was another easy 200-300 calorie saving . I drink Coke Zero because of the taste . Then I drink Coke Zero 'cause it wakes me up more than coffee, and in about twenty minutes or less, I'm at work, miserable but determined . Coke Zero is pretty gross . Coke zero is just bland . Cherry Coke Zero tastes GREAT . Pepsi Max and Coke Zero are pretty similarly disgusting to me Somebody tell me what chemical I don't have a taste for. Coca Cola Zero, Fanta Zero, Sprite Zero etc the taste is so disgusting I can only express it fully in my native language and it isn't much healthier anyway, they just replaced the sugar with the sweetener aspartame . Secondly Coke Zero is GROSS . Coke Zero is an impossibly bad product.
  33. 33. Top Sites for Discussion about Coke Zero
  34. 34. And Now…A Word From Our Sponsor Email: [email_address] for your free chart! First 50 That Qualify
  35. 35. Thank you! <ul><li>Q&A </li></ul><ul><li>Connect with us on Twitter: #Net_Base or @Net_Base </li></ul><ul><li>Tweet about this event #smworks </li></ul><ul><li>Email: [email_address] </li></ul><ul><li>Dave Evans: Twitter: @evansdave </li></ul><ul><li>Stephen Rappaport: Twitter:@steverappaport </li></ul><ul><li>Eliska Johnson: Email: [email_address] </li></ul><ul><li>Lisa Joy Rosner: Twitter: @lisajoyrosner </li></ul>
  36. 36. Join Us For 11 for ‘11 Managing the Mess: 11 Tools To Manage Social Media Wednesday, March 16, 2011 11:00 am/PT