Insight Innovation Challenge: Digital Convergence: Driving Deeper Insights For Maximum Impact by Menaka Gopinath of Ipsos - Presented at the Insight Innovation eXchange North America 2013
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This document discusses how connecting social media data to traditional consumer insights can provide a more complete picture for businesses. It gives an example of a retailer who wanted to understand how the digital world relates to consumers' purchase journey. The document then shows how social listening data from sources like Twitter and Facebook can provide additional context on what drives conversations around a brand's products, service, prices and other topics. Integrating social data in this way allows brands to have more engaging interactions with consumers and gain deeper insights for business growth.
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Insight Innovation Challenge: Digital Convergence: Driving Deeper Insights For Maximum Impact by Menaka Gopinath of Ipsos - Presented at the Insight Innovation eXchange North America 2013
- 1. Connecting the Dots Driving Deeper Insights for Maximum ImpactJune 19, 2013
- 3. Past
- 4. Present
- 5. Future
- 7. Enter Ipsos SMX (Social Media Exchange) Our goal is to help clients inspire and accelerate business growth by putting the consumers voice at the heart of your organization. We do this through listening and by creating engaging, collaborative, environments for brands to interact with consumers in real-time.
- 8. A retailer came to us after completing a consumer touch point study where they examined the consumer path to purchase. A major element was missing though. Specifically, how does today’s reality, the digital age, relate to these touch points? 8 A Quick Example
- 9. Overlay Social Data Service Experience In-store Food Catalogue Purchase Intent Experience @home post purchase Products Experience @home pre purchase Price Campaigns 43% 30% 13% 3% 5% 12% 14% 9% 8% 9% „I was at Brand X yesterday and I was really impressed by the wide range of LED-lamps.“ „In my opinion no one is allowed to marry until they have built up a chest of drawers from Brand X together. „Brand X-store assistants who can‘t spell the names “ „The transport- costs are really expensive!“ „I like the Brand X-Song and the good thing is that I in fact need new furniture now!“ „I survived a Saturday afternoon at Brand X...“ „Hi Petra, no you‘re not the only one with this phenomenon! We sometimes drive to Brand X to eat xxx in the restaurant, my son loves them so much…I also always find something to buy.... „Browsing the Brand X Catalogue to get inspirations for sewable Home-Design“ „Sunday, midnight. I walk around my room with my Brand X catalogue and tape“ This beautiful peace of furniture costs 39,- Euros. At that price, I just HAVE to buy it! € Bubble size represents share of topic: products = biggest share Base: Manually coded sample of n=152 , topics ≥3%
- 10. MozRank* low middle highhigh middle low + / - Controversial SOCIAL BRAND DNA Understand Key Conversation Drivers *MozRank = 1-10, importance of web pages. Most mentions on Twitter & facebook which have a high MozRank. Service Experience In-store Price Food Catalogue Purchase Intent Experience @home Products Base: Manually coded sample of n=152 How to read: The Bubble size represents the share of topic. A positioning further outwards means potentially higher reach. Negative Positive
- 11. In Conclusion The future of market research no longer relies on single data sources to tell a story. Listening is as important as asking, and social is embedded in every story.
- 12. Thank You
Editor's Notes
- I recently saw, perusing mindlessly through my instagram feed, someone posted Douglas Coupland’s famous image, “I miss my pre-internet brain.” It got me thinking about my own pre-internet brain… I remember when I first moved to Los Angeles ten years ago, I had a Thomas Guide, a printed book of maps… I can’t count the number of hours I’ve wasted aimlessly reading my friends’ latest status updates… in fact, that’s how we got to this very point. The undeniable truth is that the internet, the social age, has changed our behaviors – how we interact, how we connect, how we learn, how we discover. And with it, has come an immense amount of data…
- Our not so distant past was definitely less cluttered with information, in fact one might say even pristine.
- Flash to today, and we’re in an information overload. 90% of the world’s data came from the past two years.
- And tomorrow, it’s only proliferating even more. So how do we make sense of this data?
- There are a lot of solutions out there to provide you with an overview of what people are saying… and understanding the conversation is definitely one step. To really help a brand uncover actionable insights, deeper insight, we need to connect the dots.
- Our approach is to listen to and engage with the social conversations, then apply that learning using proven analytical frameworks, and linking it to other research Ipsos our our clients’ have done.
- Let's look at a quick example (use Ikea path to purchase example)… In this example, we already had defined consumer touch points through a path to purchase study — but how does social media and digital impact those touch points?
- With analysis we can help consumer understand the information captured and provide actionable insights.
- The in-store experience is the most polarizing topic. It is an emotional love-hate relationship between store visits perceived as exciting events and also as very stressful endeavours. Service components have a relatively low share but a negative tendency. Diverse things are mentioned e.g. high transport costs and the missing option to pay via credit card. Dissatisfaction should be monitored.
- The future of market research no longer relies on single data sources to tell a story— truly customer centric solutions (that deliver maximum impact) follow the consumer across multiple screens and dimensions for a 360-degree view.