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Building a Socially Savvy Brand

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Building a Socially Savvy Brand in a Data-Rich Hyper-Connected World

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Building a Socially Savvy Brand

  1. 1. Revitalize Your Brandin a Data-rich, Hyper-connected WorldRavi BapnaProfessor of Information Systems | Carlson School of ManagementCo-director | Social Media & Business Analytics Collaborative (SOBACO)@ravibapna@SOBACO_UMN
  2. 2. Your brand . . .
  3. 3. . . . embedded in the digital world. search & display mobile communities social crowds Big Data
  4. 4. You can’t managewhat you can’t measure
  5. 5. You can’t improvewhat you can’t measure
  6. 6. In the next 20 minutes…1 Connected2 Big Data rich3 Measurable
  7. 7. Billion+ people on the social graph Flickr users, top: FaceMePls, DaveLawler, OneLaptopperChild. Below: gckphoto, sekihan, Rah.JY, djking.
  8. 8. Doing what theylike to do Flickr user: circulating
  9. 9. Addiction?
  10. 10. 66% of smartphone userssleep with a phone next to them Telenav Study, August 2011 Flickr user: wanderingone
  11. 11. Which would you rather give up? Flickr user BuzzFarmers Telenav Study, August 2011 or cellphone caffeine 55% give up caffeine
  12. 12. Which would you rather give up? Flickr user BuzzFarmers Telenav Study, August 2011 or cellphone alcohol caffeine 70% give up alcohol
  13. 13. Which would you rather give up? Flickr user BuzzFarmers Telenav Study, August 2011 or cellphone sex 33% give up sex
  14. 14. Social revolution on the Internet 1000 Job search 800 Politics Beauty 600 … 400 Research Newspapers 200 Photos 0 Lifestyles E-mail Social Social Platforms 0 20 40 60 80 100 2009 Users (million) Number of site visits (index) 2010 Users (million)Courtesy: Misiek Piskorski
  15. 15. Leaving a rich trail of datarich trail of data Leaving a
  16. 16. Sources enterprise systems social media mobile• Customer Relationship • API • Mobile web Management (CRM) • Text mining • Apps• Manufacturing Resource • SMS Planning (MRP) • Geolocation• Finance resource management (FRP)• Supply Chain Management (SCM)• Human Resource Management (HRM)
  17. 17. The Internet of Things
  18. 18. It’s a 8 step journey!Courtesy: David Hardoon@SAS
  19. 19. Uniquely, individually measureableof data Leaving a rich trail
  20. 20. What do we measure?Metrics • Keyword and campaign efficacy • Audience behavior and ad effectiveness • Sentiment analysis and economic Impact • Cross-media and cross-device effects • Social network characteristics • Peer influence Constructs • Engagement • Trust and reciprocity • Predictive accuracy
  21. 21. FEAR(greed to follow) Flickr user: Jim Grady
  22. 22. United’s nightmare http://www.youtube.com/watch? v=5YGc4zOqozo&feature=playe r_embedded Flickr user: Paul J.S.
  23. 23. United’s nightmare$3,500 guitar3 million views in 1 week$180 million estimatednegative impact on brand Flickr user: Paul J.S.
  24. 24. Go on the offense: 5 ideas to get started1 Define a strategic goal2 Create a social graph of customers3 Identify influencers, sub-communities4 Detect peer influence5 Truly understand, predict and optimize
  25. 25. Go on the offense: 5 ideas to get started1 Define a strategic goal
  26. 26. 1 Define a strategic goal2 Create a social graph of customers3 Identify influencers, sub-communities
  27. 27. Four decades of consumer engagement 1980’s 1990’s 2000’s 2010’s Single Segmentation Customization Socially message linkedCourtesy Rob Cain, CIO, Coca Cola Company
  28. 28. Different ways to organize 100 people
  29. 29. Many types of centrality
  30. 30. Centrality is not enough… B A C D
  31. 31. Think beyond individuals3 and 5 together are more influential than 10
  32. 32. Density and clusteringNetwork structure can help identify sub-populations that can be targeted differently
  33. 33. Your homeworkAnalyze your own networkhttp://apps.facebook.com/touchgraph
  34. 34. Brand Mapping using Text MiningCourtesy: Ghose et al, New York University
  35. 35. Product Co-occurrence DataMessage #1199 Civic vs. Audi A6 Honda Civic 252Corolla by mcmanus Jul 21, Audi A6 Toyota Corolla 1012007 (4:05 pm) Honda Civic Audi 6 252Yes DrFill, the Honda car model is Honda Civic Toyota Corolla 2762sporty, reliable, and economical vs Toyota Corolla Audi A6 101the Corolla that is just reliable and Toyota Corolla Honda Civic 2762economical. Ironically its Toyotathat is supplying 1.8L turbo ... Neonto his 16 year old brother. I drove it Associative Networkabout 130 miles today. Boy doesthat put all this Civic vs. Corollaback in perspective! The Neon is Toyotavery crudely designed and built, Audi A6 Honda Civic Corollawith no low ... Audi A6 --- 252 101 Honda Civic 252 --- 2762 Toyota 101 2762 --- Corolla P(A, B) lift(A, B) = Courtesy: Ghose et al, New York University P(A) ´ P(B)
  36. 36. The Car Models Network Spring embedded Kamada Kawai graph only ties with significant liftsCourtesy: Ghose et al, New York University ( 2 p.value<0.01) are included
  37. 37. 1 Define a strategic goal2 Create a social graph of customers3 Identify influencers, sub-communities4 Detect peer influence
  38. 38. Behavior of friends is correlated in time and space Did you buy an iPhone? Did your friends? iPhone 4 debut, Paris iPad 2 debut, BeijingPhotos courtesy Chris Dellarocas
  39. 39. Detecting Peer Effects Causally Last.fm Free-to-Fee ProblemFreemium > SubscriberFriendCnt 0.65 2.85 0 0.00 0.00 541.00Subscribed > SubscriberFriendCnt 2.85 10.35 0 1.00 0.00 709.00
  40. 40. Do friends influence their friends to pay?© 1983 by MGM/UA Entertainment Co.
  41. 41. Or, do birds of a feather flock together?Flickr user: Kevin Krejci
  42. 42. Do friends (causally) influence their friends to pay? Flickr user: The Reboot
  43. 43. Experimental Design1. Randomly select 2000 users from the network2. Half of them get the gift from us (group M) and half of them get no gift from us (group NM)3. Wait for a few weeks4. Check if there is a significant difference in adoptions between friends of M and friends of NM.
  44. 44. In the Last.fm caseFreemium > SubscriberFriendCnt 0.65 2.85 0 0.00 0.00 541.00 50% Higher likelihood of adoption if friend adoptsSubscribed > SubscriberFriendCnt 2.85 10.35 0 1.00 0.00 709.00
  45. 45. 1 Define a strategic goal2 Create a social graph of customers3 Identify influencers, sub-communities4 Detect peer influenceThe Holy Grail5 Truly understand, predict and optimize
  46. 46. Business models based onTRUST Flickr user: tvangoethem
  47. 47. You will be asked to log into Facebook. Getaround is acommunity built on trust and by connecting with Facebook,you enable safe and open sharing.
  48. 48. Flickr user: ericarhiannon
  49. 49. Design a viral incentive scheme for this service
  50. 50. Viral schemes based on A LT R U I S MCalvin and Hobbes © Bill Watterson
  51. 51. Find your path to becominga social brand that matters
  52. 52. Social Media & Business Analytics Collaborative @SOBACO_UMN carlsonschool.umn.edu/sobaco MAY Our Data, Ourselves Ramayya Krishnan 3 Heinz College, Carnegie Mellon University NOV Social Media and Data Analytics for Digital Marketing20-22 Carlson Executive Education Ravi Bapna & Anindya Ghose
  53. 53. THANK YOU@ravibapna@SOBACO_UMN

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