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The Next Generation of Social Listening Intelligence

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The potential of social listening data has long been stymied by poor data quality issues and lack of flexibility to adapt to specific brands and domains. But no more. The next generation of social listening, as outlined here, is breaking social listening data out into a wide range of sophisticated uses including consumer insights, market research, brand tracking, market mixed modeling, business intelligence, customer journey analysis and more. Presented at ARF Rethink Conference 2016

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The Next Generation of Social Listening Intelligence

  1. 1. © 2014 Converseon Inc. Proprietary and Confidential The Next Generation of Social Intelligence Advertising Research Foundation Re:Think March 14, 2016 Rob Key, CEO, Converseon
  2. 2. © 2014 Converseon Inc. Proprietary and Confidential 2 Our Mission: To Provide the World’s Best Social Insights and Help Integrate Them into our Clients’ Organizations to Take Meaningful Action
  3. 3. © 2014 Converseon Inc. Proprietary and Confidential The Dirty Secrets of Social Listening (to date) 3 “Far from being unfixable, however, miscalculations in social-media analyses can already be fixed using methods developed to fix similar problems in studies in epidemiology, statistics and machine learning.” - ComputerWorld
  4. 4. © 2014 Converseon Inc. Proprietary and Confidential 4 Reasons: Booleans Ineffective ("enterprise 2.0" OR "Social Biz" OR "social business" OR "#SocBiz" OR "#SocialBiz" OR "#socialbusiness" OR SocBiz OR SocialBiz OR socialbusiness OR "enterprise social business" OR "enterprise social network" OR "enterprise social grid" OR "social CRM" OR "social BPM") AND ("activity stream" OR "activity streams" OR "application development" OR "best practices" OR "business model" OR "business models" OR "content management" OR "crowd sourcing" OR "customer service" OR "disruptive technologies" OR "disruptive technology" OR "human resources" OR "information technology" OR "next generation social" OR "open social" OR "organizational culture" OR "predictive analytics" OR "product lifecycle management" OR "social analytics" OR "social mail" OR "social portal" OR "social portals" OR "social commerce" OR "customer experience management" OR "innovation management" OR "social app" OR "social application" OR "social applications" OR "social apps" OR "social business app" OR "social business application" OR "social business applications" OR "social business apps" OR "social collaboration" OR "social computing" OR "social learning" OR "social media" OR "social network" OR "social networks" OR "social platform" OR "social platforms" OR "social software" OR "social softwares" OR "social technologies" OR "social technology" OR "soft ware" OR "tool kit" OR "unified telephony" OR "analytics" OR "app" OR "application" OR "applications" OR "apps" OR "benefit" OR "benefits" OR "blog" OR "blogs" OR "bookmark" OR "bookmarks" OR "BPM" OR "collaboration" OR "collaborative" OR "commerce" OR "communication" OR "communities" OR "community" OR "compliance" OR "innovation" OR "connection" OR "connections" OR "CRM" OR "crowdsourcing" OR "engagement" OR "ERM" OR "information" OR "intelligence" OR "intelligent" OR "interaction" OR "interactive" OR "internet" OR "interoperability" OR "learning" OR "mail" OR "marketing" OR "mobile" OR "network" OR "nimble" OR "optimization" OR "optimized" OR "organization" OR "organizational" OR "organizations" OR "platform" OR "platforms" OR "portal" OR "portals" OR "productive" OR "productivity" OR "risk" OR "risks" OR "sales" OR "software" OR "softwares" OR "technologies" OR "technology" OR "tool" OR "toolkit" OR "tools" OR "transparency" OR "transparent" OR "value" OR "voIP" OR "wiki" OR "collective intelligence" OR "customer self service" OR "social grid" OR "content" OR "social content" OR "insights" OR "social selling" OR "social communications" OR "collaborative communications" OR "human capital management" OR "business process management" OR "enterprise resource management" OR "enterprise resource planning") 15% Relevancy
  5. 5. © 2014 Converseon Inc. Proprietary and Confidential •  Is this tweet positive or negative? •  It depends on whether you work for Verizon or Sprint •  Often, your viewpoint is what makes something positive or negative, but most text analytics systems are not up to the challenge Reasons: Listening Tools Have Lacked Context
  6. 6. © 2014 Converseon Inc. Proprietary and Confidential The same words mean different things •  An “unpredictable” movie is good, but “unpredictable” braking, not so much •  We like “small” cell phones but not “small” legroom •  “Faded” jeans are good, but not “faded” interiors And Taken a “One Size Fits All” Approach Your industry has its own lexicon
  7. 7. © 2014 Converseon Inc. Proprietary and Confidential 7 It’s Simple Math 60% (precision) x 15% Relevancy X Low “Recall” = Problems
  8. 8. © 2014 Converseon Inc. Proprietary and Confidential 8 The New Era 2016: A New Era
  9. 9. © 2014 Converseon Inc. Proprietary and Confidential 9 New Deep/Machine Learning Approaches Unlocking Insights Knowledge -based Resources Machine Learning System Test Data Training Data/ Libraries Semi Supervision: Keeps “humans in the loop” for continuous training Customizable: Trains to domain and brands (“small” may be good for selling smartphones, bad for hotel rooms) Accurate: Close approximation of human performance at scale (humans that agree with each other) – generally 90-95% Scalable: Now allows the accuracy of human coding at large scale and speed Vertical and Brand/Domain Specific Custom Classifiers: Enables unlimited number of custom classifiers (intent, purchase phase, etc.) Vertical and brand specific High Relevancy and Recall: Isolates key data sets rapidly and at most detailed level. Data approach as represented by Converseon’s ConveyAPI technology
  10. 10. © 2014 Converseon Inc. Proprietary and Confidential •  Relevance feedback allows you to be in control •  85% accurate with less than one hour’s work vs 15% by boolean No More Booleans
  11. 11. © 2012 Converseon Inc. Proprietary and Confidential 11 High Recall, Precision, Relevancy Example negative 4% neutral 15% positive 81% Cool Whip Sentiment: Convey negative 3% neutral 84% positive 13% Cool Whip Sentiment: Industry Standard Industry standard sentiment analysis for Cool Whip over-indexes neutral, failing to represent true consumer opinions of the brand and identify brand advocates: Industry Standard Convey Sentiment Precision 38% 83% Relevancy 46% 91%
  12. 12. © 2014 Converseon Inc. Proprietary and Confidential High Recall: Entity (Facet) Level Analysis 12
  13. 13. © 2014 Converseon Inc. Proprietary and Confidential •  It had a slightly buttery off-note •  I disliked the aftertaste •  The taste was decidedly foul •  I would never eat this again •  The taste of it turned my stomach •  This the worst tasting #@&*% ever New Metrics: Intensity
  14. 14. © 2012 Converseon Inc. Proprietary and Confidential 14 New Metrics: Emotion and Intensity Analysis Example Emotion analysis reveals the insight that Thanksgiving is when consumers turn to social media to share their feelings about Cool Whip, associating it directly with the joy of Thanksgiving dinner with family   N/A   Low Intensity   Medium Intensity   High Intensity   joy   10%   45%   28%   14%   disgust   0%   1%   1%   0%   anticipation   0%   1%   0%   0%   anger   0%   0.1%   0.3%   0.1%   sadness   0%   0.1%   0.1%   0%   trust   0%   0%   0%   0%   surprise   0%   0%   0%   0%   fear   0%   0%   0%   0%   0 200 400 600 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Monthly Expressions of Joy in Mentions about eating Cool Whip 20142015 Emotion and Intensity in Messages about Eating Cool Whip “I'm so excited for thanksgiving just for pumpkin pie. With a giant tub of cool whip. And some apple cider. Maybe with a side of turkey.” Source: Converseon analysis of public online records, November 2015.
  15. 15. © 2014 Converseon Inc. Proprietary and Confidential 15 Custom Classifiers Unlock Deeper Insight and Facilitate Organizational Adoption Advocacy Brand Champions Product Adoption Fact / Opinion Product Applications Brand Personality Purchase Intent Purchase Stage Sentiment Technology allows an unlimited number custom classifiers
  16. 16. © 2014 Converseon Inc. Proprietary and Confidential 5%   17%   11%   35%   17%   11%   12%   6%   0%   25%   50%   75%   100%   Customer Journey Analysis Example Smartphone  Category   11%   14%   13%   19%   54%  35%   14%   22%   41%   14%   22%   42%   42%   27%   0%   25%   50%   75%   100%   Fear   Distrac>on   Apprehension   Pensiveness   Acceptance   Trust   Serenity   Surprise   Interest   Sadness   Annoyance   Disgust   Anger   An>cipa>on   Joy   Mul>ple  Categories   Emotions in the Purchase Funnel
  17. 17. © 2015 Converseon Inc. Proprietary and Confidential 17 New Metrics: Audience Analysis WOMEN make up 70% of Cool Whip Advocates 80% of Cool Whip Advocates are WHITE 0% 8% 73% 18% 1% 13-17 18-24 25-34 35-44 45+ White   79%   Black   16%   Hispanic   4%   73% of Advocates are aged 25-34 Food 58% Religion 58% Beverages 49% Humor 49% Nutrition 41% Parenting 39% Fitness 39% School Life 38% Health Care 38% Family 37% Cool Whip Advocates are interested in FOOD, FAMILY LIFE, and HEALTH @AshleyKfit Ashley Kaltwasser Athlete Top interests: Fitness, Multimedia, Travel @how2girl Courtney Sixx Model and step-mother Top interests: Fashion, Family, Charity @manwhohasitall Comedian and father Top interests: Parenting, Nutrition, Beauty Top Advocate Influencers are minor celebrities – comedian, model, athlete
  18. 18. © 2014 Converseon Inc. Proprietary and Confidential Multiple Peer Reviewed Studies Have Shown Predictive Capabilities of Convey-Powered Data 18 Professor Wendy Moe and David Schweidel, conducted analysis of social conversation versus offline brand tracking using Converseon data. . New WOMM Media Mixed Modeling Study (utilizing Converseon data) 95% precision + 85% Relevancy + High Recall
  19. 19. © 2014 Converseon Inc. Proprietary and Confidential And is Enabling Mainstreaming and Integration 19 Business Outcomes Brand Equity (Brand Preference & Advocacy) Sales / Share Outcomes Meaning & Engagement Meaning (Language, Attributes, Culture, Consumer Interest Profiles) Engagement Behaviors (Community Size & Behavior Toward Brand) Purchase Disposition (Path to purchase) Marketing Effectiveness Spending Impressions (Amplification via Paid, Owned vs. Earned) Return (Marketing Return on Investment) Social Inputs/ Classifiers: Brand Equity: Consumer preference + advocacy; Social NPS (actual advocating versus intent) Brand Meaning: language, topics, emotions, imagery, opinions, perceptions Engagement Behaviors: Interacting with brand beyond functional purpose. (likes, retweets, etc.) Purchase: Purchase funnel analysis; intent to buy
  20. 20. © 2014 Converseon Inc. Proprietary and Confidential …Across Organizations Product Launch, Unmet Needs, Segmentation, Outliers, etc Brand Tracking Innovation Customer Journey/Advocay Advanced Enrichment
  21. 21. © 2014 Converseon Inc. Proprietary and Confidential How to Access…. 21 •  If you have an application in need of social data, it is available through a ConveyAPI REST API •  For basic listening, it is available in Conversation Monitor •  Also available through growing number of ecosystem partners •  Converseon provides a full range of research and consulting products to clients looking for turnkey solutions
  22. 22. © 2014 Converseon Inc. Proprietary and Confidential 22 Introducing Conversus™: DIY Works as stand alone or in conjunction with most basic listening platforms for enhanced listening, intelligence and integration
  23. 23. © 2014 Converseon Inc. Proprietary and Confidential Final Thoughts: Social Intelligence in 2016 23 ü  Pervasive data layer, not application specific (APIs) ü  Interoperable with legacy systems ü  Accurate and predictive ü  Domain and brand adaptable ü  The rise of custom classifiers ü  Integrated with other Voice of Customer intelligence ü  Brand tracking, market mixed modeling, business intelligence and more ü  Integrated
  24. 24. © 2014 Converseon Inc. Proprietary and Confidential Thank You rkey@converseon.com @robkey 24

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