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Social media and multichannel consumer
This document provides an overview of multi-channel customer engagement and trends in social media. It discusses how consumers are increasingly engaging with brands across multiple channels like mobile, social media, web and email. It also outlines key trends in the social media space like its growing global user base, how engagement occurs across various platforms, and the importance of listening to consumers. The document advocates that brands look at consumer behavior and engagement from the perspective of creating business value both in social media and with social media through objectives like improving the customer experience, generating insights, measuring performance and innovating with customers.
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- 1. Confidential & Proprietary Multi-ChannelCustomer Engagement
- 2. Confidential & Proprietary Bakingnew Brand X Recipe for Suzy‟s party. She loves it Day in the Life of today‟s Consumer Mom blogging Recipe Look Up Menu building Mom tweets Mom-Blog Planning Suzy‟s birthday party. Looking for menu ideas for 10 kids. Rep engages Dietician responds Mom at grocery storeRep texting reply Does it Contain gluten? No ur good. Try Dirt Cups desert. Yum! No ur good. For dessert try these http://tinyurl /uwc87s Yum! I „m diabetic. R these ok? Mom continues … @mom Good luck w/recipe. My kids love it! Txt 57238 if u get stuck Also click on this link for coupon http://tinyurl/u wc87s Maybe Try Sugar Free instead. Here is the link to our recipe. http://tinyurl.com/cRT67v.
- 3. Confidential & Proprietary Dayin the Life of today‟s Consumer Clicks photo of item still looking for; buys online Mom-Blog Bday party big success http://twitpic.com/. New recipe was so easy see recipe @brandx site! Speech Recognition & Customer Hold Messaging Mom connected with IVR Checks out website… clicks on icon to call Mom checks out Mom blogs to 5,000 readers I just want to talk to a person. Bypass! Join our Innovation Community, t o sign up… Speaks with tech savvy Rep Have you tried this recipe? I will send you a coupon.
- 4. Confidential & Proprietary Dayin the Life of today‟s Consumer Mom & Rep enter chat session to locate product Mom receives email … joins Innovation Community and more Rep: Hi Mrs. Mom Mom: Hi Mom: I am looking for Golden Oreos Minis Rep: I will take you to the Netgrocer website we can shop together. Mom: Thanks I will submit the order Rep: Have a nice day. Bye. Receives text via Text Messaging Service Video conference tomorrow Leverage your most important asset to create strategic business advantage
- 5. Confidential & Proprietary5 Doconsumers want engagement with brands?
- 6. Confidential & Proprietary Whatif… we looked at the business value differently? 6 Multi Channel Customer Engagement store mobile social web email @ Phone WHY? VOC WHAT CONSUMERS SAY? WHAT THEY DO? WHY THEY DO WHAT THEY DO? WHERE & HOW THEY DO WHAT THEY DO? MORE CHANNELS MORE ACCESS
- 7. Confidential & Proprietary 2013Trends in Customer Service & Contact Centers* 7 • Mobile • Social Media • Community-based service • VOC Analytics • Next Best Action • Proactive customer service • The Cloud • BPA • Cross-channel/Agile • Knowledge/Content Management *Kate Legget – Forrester Research, September 2012
- 8. Confidential & Proprietary SocialMedia Trends
- 9. Confidential & Proprietary Agenda Trendsin the Market Digital Fitness Trends in Corporate 9
- 10. Confidential & Proprietary ♦GlobalMedia Consumption per Week Media Consumption is Changing 10 Source: Carat 1900 1920 1940 1960 1980 2000 2020 100 80 60 40 20 0 2020: 80% of All Media Digital 2010: 66% of All Media Digital 2007: 50% of All Media Digital hours
- 11. Confidential & Proprietary SocialMedia Delivers Global Reach ♦ Number of Social Network Users Worldwide – 1.4 billion at the end of 2012 ♦ Largest Social Networking Region – Asia-Pacific, with nearly 616 million users ♦ Country with the Most Social Network Users – China, with more than 307 million in 2012, nearly double the number in the US ♦ Countries Where Social Networking is Growing the Fastest – India and Indonesia, which will each see 50%+ growth in users this year 11 ♦ Social Network Users Worldwide • Internet users who use a social network site via any device at least once per month 493.5 615.9 745.6 853.7 164.9 191.8 215.9 236.9 163.9 174.7 181.9 189.2 139.0 157.4 176.5 192.7 111.1 148.5 183.0 211.6 129.8 145.3 159.4 170.8 0MM 200MM 400MM 600MM 800MM 1,000MM 1,200MM 1,400MM 1,600MM 1,800MM 2,000MM 2011 2012 2013 2014 Asia-Pacific Latin America North America Eastern Europe Middle East & Africa Western Europe Source: eMarketer Feb-2012 1,202.2 1,433.5 1,622.4 1,854.7 23% 19% 16% 12%
- 12. Confidential & Proprietary SocialMedia is 24 7 12 • In a recent social media study for Nestlé's ice cream brands, it was discovered that the largest day segment for ice cream conversation occurs at prime time and the late night. • These consumers tend to participate in Life Sharing activities such as “I’m watching my favorite movie while eating my favorite ice cream, Haagen Dazs!”. • At other times of the day, topics such as Health are more prevalent (noon to 5).
- 13. Confidential & Proprietary SocialMedia Players Users Typical User Profile Best For Secret Weapon 845+ million Largest segment is 21- 24, followed by 18-20 year olds Personal interaction Houses all information about your brand in one place 572+million 55% female 42% are 31-49 42% are 18-29 Monitoring conversations about your brand Identify new consumers and engage with influencers 150 million 51% male 25–54 Networking and sharing professional accomplishments Join groups and engage in Q&A 800+ million 18-34 70% outside US Sharing videos and content partnership In-stream ads 11 million >80% female Affluent 25-44 Images and photography Driving social media purchases 100+ million 70% male Leans towards professionals Starting conversations and adding people to it Circles 80 million TBD Influencer Marketing Mobile 78 million 18-44 Reviews Mobile
- 14. Confidential & Proprietary Pathsto Purchase • The root of the importance is more about the consumer than the media Social Media is Pretty Important 14 Roles of the Consumer Expectations of the Consumer RadioSocial Media DisplayTelevision Out of HomeDigitalPrint PurchaseAssess MotivateParticipate Quality ServicePrice Delivery Control
- 15. Confidential & Proprietary SocialMedia is the Consumer’s Ballpark ♦ The Role of a Brand • Brands are sometimes invited to: 15 ♦ People Tend not to Trust the Brand • “When forming an opinion of a company, if you heard information about a company from each person, who credible would the information?” • (Percent responding “very credible” or “extremely credible”) 0% 10% 20% 30% 40% 50% 60% 70% Gov't Official or Regulator CEO Financial or Industry Analyst NGO Representative Regular Employee A Person Like Yourself Technical Expert in the Company Academic or Expert 20% 38% 46% 50% 50% 65% 66% 68% Play Watch Umpire Sell Tailgate Source: Edelman Trust Barometer Jan-2012
- 16. Confidential & Proprietary Thereis an Invitation… 16 • …brands start by listening Key Question Brand Sentiment Conversation Drivers Time of Day Analysis Topic Analysis Influence Analysis Competitive Benchmarking How do consumers view my brand? + What are the primary factors that influence the conversation? + What trends influence my engagement strategies? + + + Who or where are our most valuable or influential customers? + What are my competitors doing? Am I winning? +
- 17. Confidential & Proprietary Agenda Trendsin the Market Digital Fitness Trends in Corporate 17
- 18. Confidential & Proprietary The“Moneyball” Approach to Winning 18 Right Metrics Data Access Supportive Management Relentless Evaluation Ruthless Efficiency
- 19. Confidential & Proprietary Buildingthe Capability 19 Business Strategy Social Media Strategy Social Media Planning Listening, Monitoring & Reporting Research & Insight Development Measurement & Analysis Consumer Engagement Community Management Social CRM Social Commerce Social Media Planning & Buying Content Strategy & Planning Communications Planning Influencer & Advocacy Management
- 20. Confidential & Proprietary UnderstandingSocial Ownership 20 Centralized Decentralized Hub & Spoke Holistic “Dandelion” ♦ Social Ownership is Typically Distributed Across the Organization – Nearly half of companies report that social media efforts are either highly centralized or completely decentralized ♦ The Evolution of Social Business • “In which department does your core Social Media team reside?” 0% 10% 20% 30% 40% Other Digital Social Media Corp Comm/PR Marketing 5% 14% 14% 26% 40% Base: 125 respondents with over 1,000 employees Source: Six Stages of Social Business Transformation, Mar-2013
- 21. Confidential & Proprietary SocialMedia Maturity 21 Business Transformation Business Effectiveness Business Efficiency 3 2 1 LevelLevelLevel InnovateImproveLearn Social Objectives Social Infrastructure Level 3 Business Integration Strategic business goals and ROI measurement Executive leadership Social governance Enterprise applications Value Level 2 Focus Common engagement solutions Live access to social data via BI Dedicated team and/or COE Establish enterprise architecture Level 1 Focus Common listening tools and processes Weekly or monthly reporting Emerging team Level 3 Focus Enterprise platforms Data integration Policy and procedure Enable flexibility & agility Innovation & value Level 1 Assess and Learn Social Understand channel usage Assess the conversation Count mentions and sentiment Level 2 Engagement Amplify the good and address consumer issues Drive purchase considerations Improve customer satisfaction
- 22. Confidential & Proprietary Data Analytics Organization Process Audit data sources Integrate and standardize data from multiple media Collect market research and brand studies Clearly define all business objectives Determine KPIs Define analytic methodology/needs Identify social/analytic champion and owner Identify system and technology inputs Collaborate across consumer relationship, media, analytic and research functions Audit planning processes Collaborate across data and analytic functions Assess reporting process Typical Next Steps 22
- 23. Confidential & Proprietary Agenda Trendsin the Market Digital Fitness Trends in Corporate 23
- 24. Achieving Business Objectives: Inand With Social Media Value Creation In Social Value Creation With Social 24 Improve customer experience & relationships Planning Generate better brand and consumer insights Improve performance Performance Measure and analyze brand health Optimize customer value Optimization Optimize media spend & marketing programs Collaborate with customer Innovation Drive new products and services
- 25. Confidential & Proprietary ImproveCustomer Experience and Relationships IN Social Media 25 PLANNING Service Level PERFORMANCE ROI OPTIMIZE Consumer Lifecycle PLANNING Brand and Consumer Research Integrated Reporting and Analysis Problem Recognition Information Search Competitive Evaluation Purchase Decision Post- Purchase Social media plays a very different role based on where the CPG consumer is in the purchase funnel A recent ARF study, found that consumers in grocery are most likely to get information from brand/company websites. However, social media sources (highlighted in green) play the more predominant role. 0% 10% 20% 30% 40% 50% 60% Friends/followers on social networks Fan/brand pages on social networks Blogs Comparison-shopping sites Search engines Reviews: profession/expert Reviews: consumer-generated Brand/Company website Online-only retailer Other retail websites Video websites Online advertising Daily-deal sites
- 26. Confidential & Proprietary ImproveCustomer Experience and Relationships IN Social Media 26 PLANNING Service Level PERFORMANCE ROI OPTIMIZE Consumer Lifecycle PLANNING Brand and Consumer Research Integrated Reporting and Analysis Social media plays a very different role based on where the CPG consumer is in the purchase funnel Competitive Evaluation Problem Recognition Information Search Purchase Decision Post- Purchase 43% 51% And 37% …use online forums to sort out a problem with a product or a service And if you account for age… 52% of customers 16-24 use online forums. Avaya and BT The Autonomous Customer, 2012 Also, when a consumer requires support or product advice, they prefer digital methods and only call about more complex issues Further, about half of consumers trust online customer forums than a brand website.
- 27. Confidential & Proprietary PLANNING ServiceLevel PERFORMANCE ROI OPTIMIZE Consumer Lifecycle PLANNING Brand and Consumer Research Integrated Reporting and Analysis Improve Performance IN Social Media 27 Before 2010 The Talking Heads 2011 – 2012 Big Data 2013 Accountability? Volume • Turn 12 terabytes of Tweets created each day into improved product sentiment analysis? Velocity • Sometimes 2 minutes is too late? • Analyze 100 million daily call detail records in real-time to predict customer churn faster? Variety • Integration text, sensor data, audio, video, click streams, log files and more? Veracity 1 in 3 business leaders don‟t trust the information they use to make decisions. “41% of more than 1,000 companies and agencies surveyed had “no return on investment figure for any of the money they had spent on social channel as of October 2011.” eConsultancy, State of Social Report, November 201
- 28. Confidential & Proprietary PLANNING ServiceLevel PERFORMANCE ROI OPTIMIZE Consumer Lifecycle PLANNING Brand and Consumer Research Integrated Reporting and Analysis Improve Performance IN and WITH Social Media 28 Notional Correlation and Metric Analogs Surveys or Multivariate Testing Advanced Analytics Description A template provides all relevant value and cost line items, users enter data based on limited analysis and general experience Historic social data is analyzed and correlated to generally accepted media metrics Consumers and tactics are segmented. A survey provides insights about purchase behavior. An analysis of media spend, digital media performance and sales data provides model coefficients to score segments based on value. Individual-level models through attribution modeling, transactional analysis and media weighting to provide real-time Fan valuation Valuation Level Broad Segments Consumer Segments Consumer Segments Segments to Individuals Strengths • Very easy to complete and low cost • Provides a basic “proof point” • Reasonably easy to complete • Connects volume-metrics to understand and quantify relationships • The value of an “incremental consumer” is quantified • May be leveraged for more advanced solutions • Segment value • Accurate and precise understanding of value • Highly actionable for communications planning and campaign development • Can provide weekly update and understanding • Highly accurate and precise understanding of value • Highly actionable including real-time decisioning Weaknesses • Only averages • Too imprecise to make actionable marketing decisions • Likely a temporary solution as media use expands • Requires 12+ months of data from multiple sources • Does not account for all consumer segments • Requires data from multiple sources, sometimes difficult to secure • Data may require significant cleansing • Surveys may need to be longitudinal • Requires data from multiple sources • Data may require significant cleansing • Solution may provide too much functionality
- 29. Confidential & Proprietary PLANNING ServiceLevel PERFORMANCE ROI OPTIMIZE Consumer Lifecycle PLANNING Brand and Consumer Research Integrated Reporting and Analysis Optimize Customer Value WITH Social Media 29 AdvocacyAwareness Engagement Brand Profiles Listening Followers Page Views Views Re-tweets Replies Interactions Subscribers Fans Likes Value Creation and Segment Analysis Mentions Share of Voice Posts Length Sentiment Positive Mentions Manage Influence Improve Brand Health New Registrations Customer Acquisition ROI
- 30. Confidential & Proprietary PLANNING ServiceLevel PERFORMANCE ROI OPTIMIZE Consumer Lifecycle PLANNING Brand and Consumer Research Integrated Reporting and Analysis Generate Better Brand and Consumer Insights WITH Social Media 30 • Social media has the potential to reveal the consumer‟s emotion at each phase of the purchase cycle ♦Emotions at Each Purchase Stage
- 31. Confidential & Proprietary PLANNING ServiceLevel PERFORMANCE ROI OPTIMIZE Consumer Lifecycle PLANNING Brand and Consumer Research Integrated Reporting and Analysis Achieving Business Objective IN and WITH Social Media 31 ♦ Social Reporting • Monthly reporting of brand mentions and sentiment, important topics, key influencers ♦ Performance Reporting • Monthly to quarterly reports that quantify business objectives through KPIs built on media metrics ♦ Advanced Reporting • Advanced analytics to quantify contributing factors to KPIs, effect of spend and relationship between KPIs and value ♦ Performance Dashboard • Performance media reporting delivered through a dynamic dashboard ♦ Analytic Platform • In addition to the Dashboard functionality, advanced analytic tools to optimize and manage the tradeoffs that impact KPIs (e.g., media spend) and value (e.g., ROI)
- 32. Confidential & Proprietary Summary 32 ValueCreation Data Analytics OrganizationProcess
- 33. Confidential & Proprietary WhichAre We Doing? ♦Trade Baseball Cards 33 ♦Win Championships Right Metrics Data Access Supportive Management Relentless Evaluation Ruthless Efficiency
Editor's Notes
- #2 Barry
- #6 Barry
- #7 Barry
- #8 Barry
- #11 KEY POINTSDramatic increase to total media consumption in the next decade, by 2020… that’s over 10 hours a day!The “mix” of media is also dramatically changing,… where by 2020 80% of media is expected to be digitalUnderstanding and managing these changes is critical to meeting consumers needs and expectations
- #12 KEY POINTSSocial media delivers global reach… immediatelyWe now have the ability to learn from consumers on a global scale… better understanding market and demographic impact to product, consumer relations, and mediaBy 20141.8 billion social network users are anticipatedLargest growth and size is in APAC (China is most of that)Social media is CRITICAL to reaching and understanding consumers in these markets (and all markets)
- #15 KEY POINTSGiven the proliferation and changes in media… The path to purchase is increasingly complexConsumers have more options to get information… but they also have new roles in this ecosystemAND given the real-time nature of digital… Expectations are changing tooWhile core expectations like Quality, Price, Delivery, etc. remain similar… the REAL/TIME nature and immediate need for gratification creates a HYPER-COMMERCE
- #22 Good list of social media “super stars” http://money.cnn.com/gallery/technology/2013/01/17/best-companies-social-media-stars.fortune/index.htmlBUT NOTE that this does NOT mean they are doing everything in Level 3 (only that they are innovative, executing well, etc.)
- #26 KEY POINTSMore detail to the “trend” slide (#7) re the role of the consumer and the complex purchase decision processImproving customer relationships and experiences requires us to pay attention to where the consumer is in the purchase funnel“Service Level” is a business-oriented KPI that may be measured and tracked using social mediaThis chart shows that social media channels are the most popular means (cumulatively) of consumers getting information about brands
- #27 KEY POINTSDown stream (the lower funnel)… digital methods are also very important… consumers tend to call for more complex issuesBUT ALSO… the issue of TRUST is critical here… where 51% of consumers trust an online forum more than the brand’s website.We ALSO see that younger consumers are even more likely to use online forums… and as that demographic grows… digital will increase in importanceSERVICE LEVEL (e.g., the number of brand responses, the speed of brand response, customer satisfaction and sentiment as well advocacy) CAN BE MEASURED USING SOCIAL MEDIA DATA
- #28 KEY POINTSROI has been and continues to be a “flashpoint” for social media. In the early days the “talking heads” even looked down on those who tried to quantify the value of social mediaWe heard things like “What is the ROI – the Return on Ignoring” or “Its only about the conversation”But as technology and analytics improved, it became clear that we can not only capture social media conversations but execute and manage social media initiativesIn 2012, we saw more big data deployments and better access to the data… and some strides with accountabilityBUT Volume… Velocity… and Variety (the common definition of big data)… is not a Measurable Business Objective… let alone ROISo…. We are optimistic that two things will take hold in 2013 (1) VERACITY… better data and (2) ACCOUNTABILITY
- #29 KEY POINTSWe see 4 types of analytic approaches to measure performance (to ROI): Notional, Correlation/Metrics, Surveys/Testing, Advanced AnalyticsThere are variations and permutations of theseALSO, it is worth noting that these may be done on an ad hoc or project basis… or systemized in a solution/platformDetermining the right approach means considering the precision + accuracy of the ROI measurementMany companies start on the left and move to the right
- #30 KEY POINTSAnalyzing customer value is another important approach to measuring and optimizing performance (media, campaign, program, etc.)… This graphic illustrates how social media metrics may be configured for KPIs such as Awareness, Engagement, AdvocacyFurther, those KPIs need to be “born from” real business objectives. For example “Increase Engagement” is not a good business objective but “Increase New Registrations” IS. How does engagement help increase new registrations. See this article for good fodder: http://www.businessesgrow.com/2013/01/06/social-media-engagement-is-not-a-strategy/A final point, when the data is complete… these types of analyses and measurement can be done at a Segment level… how does value differ by region, by demographic, etc.
- #31 KEY POINTSAnother great social media objective is improving brand and consumer insightsMost legacy research firms and data providers are integrating social media into their portfolio… there are also new players that focus on social media first or social media onlyEmotion is one example of better insightsIn a recent, comprehensive ARF study of the consumer decision process… social media posts were analyzed to understand how emotions changed through the decision processTop Line trends (interpreting the graph)Joy grows considerably at post-purchaseAnticipation is highest at Problem Recognition and Purchase DecisionNegative emotions (annoyance, anger disgust are consistent through the process)Interest changes dramatically through the processPOTENTIAL Q&AWhat sector is this for? The research is a composite of multiple sectors. Grocery, Electronics, and Automotive were featured in the studyHow do you “calculate emotion”? The emotion taxonomy is based on the work of Robert Plutchik who developed the “Wheel of Emotions” in 1980. Emotions were likely coded by analysts for this study but methods are emerging (and improving) to use Natural Language Processing (NLP) and Machine Learning (ML) algorithms to automatically code emotion
- #32 KEY POINTSMany of the objectives on the prior pages are delivered in the market place through ad hoc projects and research or measurement studiesThe “next frontier” is to operationalize the analytics through standard reporting or dashboard solutions
- #33 KEY POINTS- Covered several measurement and insight related topics for digital fitness… reminder that digital fitness is about value creation and requires the proper data, analytics, processes, and org structure