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Social Media Monitoring is Dead
We've been using social media monitoring tools for several years to listen to what customers are saying about our brands. However, with the explosion of big data, these tools are no longer effective. This presentation describes a better approach to social intelligence which provides actionable insights.
Social Media Monitoring is Dead
- 1. SDL Proprietary andConfidentialSDL Proprietary and Confidential Social Media Monitoring is Dead Moving forward with Social Intelligence Warren Sukernek, VP Social Business bit.ly/ws-smw
- 2. http://bit.ly/ws-smw A valuable customeris one that is committed to buying products or services, sharing content and advocating brand Social Intelligence gives you a contextual view into your customers’ experience. Social media monitoring only goes so far.
- 3. A little bitabout me.
- 4. 4 SDL: Global CustomerExperience 4 Publicly traded company, long-term stability and $430M annual revenues 2,700+ employees, 70 offices, 38 countries 1,500+ enterprise customers and partners Innovative technology and services for enriching global customer experiences Award-winning technology and services Serving 72 of the top 100 global brands (Source: Interbrand 2012) bit.ly/ws-smw
- 5. 72 of theTop 100 Global Brands *Source: Interbrand, 2011 5
- 6. Value of Listening thecomplaint the compliment the problem the competitor the crowd the influencer the crisis the question the campaign impact the point of need Details can be found: •http://www.radian6.com/blog/80/top-10-reasons-brands-should-listen-to-social-media/ •http://www.radian6.com/blog/87/another-5-reasons-brands-should-listen-to-social-media/
- 7. • 2006 –Nielsen & Cymfony • 2009 – Nielsen & Cymfony • 2010 – Nielsen, Converseon & Radian6 • 2012 – Visible & Radian6 Forrester Wave Market Leaders bit.ly/ws-smw
- 8. An industry beingdisrupted. Source: http://socialmediaanalysis.com/acquisitions.html
- 9. Consolidation and competitionwill revolutionize the landscape The social listening category will die. For too long, listening vendors focused on tracking and reporting what happened in social channels, an approach that offered marketers limited insights and a flawed, incomplete view into social measurement. Today, many listening vendors keep social data in a silo, intent on building their own database and marketing technologies. But listening platforms will be unable to replicate the functionality of established marketing technology categories, such as marketing automation, email marketing, and big CRM companies, and so are likely to fail. The future for listening platforms is grim, unless they can improve their ability to turn data into insights and those insights into action through integration with broader marketing technologies. The Four Social Marketing Tools You Need, Forrester - Nate Elliott and Zach Hofer-Shall, February 25, 2013
- 10. This “value chain”is boiling down to 4 distinct social marketing tools* that matter in this ecosystem Social Listening Uncover consumer insights - Aggregate content - Provide analytics *Forrester, Feb 2013 Social Depth Provide depth for product exploration - Build social content into sites Social Reach Find new audiences - Create & spread new content to increase product discoverability Social Relationship Increase engagement w/ customers - Publishing engaging content - Responding to user feedback Marketing
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- 12. 53% of peopleon Twitter recommend products in their Tweets Every second 2 new members join LinkedIn. In 2013, every 10 minutes we produce the same amount of data from the beginning of mankind to 2003. People upload 100 hours of new video to YouTube every minute 90% of the world's information was generated in the past two years in a form that computers can't understand ( unstructured data). Data, data everywhere
- 13. Too much data,not enough insight Data Obesity CC: Tim Zim Insight Scarcity CC: Jah
- 14. Social Media Monitoringis dying because: • There is an abundance of data • Commoditization • Shelfware • Overlap of applications • Lack of integration bit.ly/ws-smw
- 15. An innovative approach CC:Jordigraells
- 16. Expanded insight fromvoluminous data CC: Olilly
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- 18. CC: (Alex) Real measurementsthat mean something
- 19. Modeling the unstructuredconversations to provide a deep and holistic understanding of that experience CC: OrangeAcid
- 20. Integration with otherdata sources CC: Kicki
- 21. The case forsocial data strengthens when presented with a compelling definition. • Let’s define ‘Social data’ as: “any user or participant- generated content published on the web. It is typified by the voluntary engagement between consumers, or with brands they engage with through activity in blogs, forums, video and photo- sharing sites, social- networking and microsites.
- 22. SOCIAL INTELLIGENCE POWERSTHE ENTERPRISE Social Intelligence gives businesses the tools to leverage the wealth of social data available and create true business value. Using data-driven social intelligence insights enables businesses to create risk management plans, leverage proven industry best-practices, better understand the competitive landscape, and execute smart product development and campaigns. SDL Social Intelligence Best Practices Crises, Issues & Risk Mgt Product, Campaign & Brand Measurement Competitive Intelligence & Market Validation 360-degree Customer Insights Segment & Persona Development bit.ly/ws-smw
- 23. THE VALUE SOCIALDATA BRINGS Analyzing and deriving insights based on social data gives businesses a real-time, non-biased view of the customer and their experiences. This means businesses can easily shorten the purchase cycle and ensure constant relevance for products and services as markets and customer needs change. *source: Gartner By 2015, the 20% of enterprises that employ social media beyond marketing will lead their industries in revenue growth. *
- 24. The SDL CustomerCommitment Framework helps businesses understand what customers care about, the reasons behind their actions, their attitudes and triggers for their behaviors, and translate these experiences into strategic opportunities. RAISING AWARENESS, CONVERTING SHOPPERS INTO CUSTOMERS, AND CUSTOMERS INTO ADVOCATES 80% of businesses believe their customer experience is superior, while only 8% of customers agreed** **source: Bain & Co survey
- 25. CUSTOMER COMMITMENT FRAMEWORKIN ACTION • KPIs - in the form of scores that model and predict customer behavior • Customer Experience & Journey Mapping - aligning the KPIs against specific, measurable steps in the customer journeys • Contextual Customer Segmentations - highlighting the valuable customer targets groupings for optimal focus • Customer Personas Mapping - providing a comprehensive and deeper level of under-standing of the behaviors and emotional drivers for the identified contextual customer segments
- 26. -30 0 30 -30 0 30 ChangesincepreviousQuarter Delta– vertical average Product C Product B Product A Product D Improving and Above Technology AverageImproving but Below Technology Average Declining but Above Technology AverageDeclining and Below Technology Average Size of ball = volume Sample Dashboard Analytics
- 27. Quarterly Trends Q12013 Q4 ‘12 Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13 Score 42 66 Change +14 Predicted trend Increasing likelihood to buy Monthly Trends – March 2013 Score 70 Change v’s previous + 30 V’s Tech Vertical +28% Product A Product B Quarterly Trends Q1 2013 Q4 ‘12 Q1 ‘13 Q2 ‘13 Q3 ‘13 Q4 ‘13 Score 49 41 Change -8 Decreasing likelihood to buy Monthly Trends – March 2013 Score 49 Change v’s previous + 8 V’s Tech Vertical -1% Month on Month Trend Month on Month Trend
- 28. The Customer ExperienceJourney Measure & Optimize
- 29. ABOUT SDL SOCIALINTELLIGENCE SDL Social Intelligence provides enterprise customers with real-time insight and foresight to optimize customer experience. The Customer Commitment FrameworkTM enables global brands to develop and measure product, brand and engagement strategies to drive growth and increase revenues. www.sdl.com/si About SDL SDL enables global businesses to enrich their customers’ experience through the entire customer journey. SDL’s technology and services help brands to predict what their customers want and engage with them across multiple languages, cultures, channels and devices. SDL has over 1,500 enterprise customers, 400 partners and a global infrastructure of 70 offices in 38 countries. 42 out of the top 50 brands work with SDL.
- 30. Warren Sukernek SDL.com/si @Warrenss Wsukernek@sdl.com Slideshare.net/SDLsocialintelligence Social MediaMonitoring RIP CC: Great Beyond Thank You
Editor's Notes
- #3 When you understand what your customers care about, the reasons behind their actions, their attitudes and triggers for their behaviors you can translate these experiences into strategic opportunities. According to a Bain & Company survey, 80% of businesses believe their customer experience is superior, while only 8% of customers agreed. Social Intelligence gives you the tools and insight to better understand your customers as they progress along their journey to buying products or services, sharing content and advocating for your brand.
- #14 Data Rich, insight poorGetting overwhelmed by digital exhaustData obesity, insight depravityData + insight = opportunity
- #24 GartnerBy 2015, the 20% of enterprises that employ social media beyond marketing will lead their industries in revenue growth. Nearly 90% of the data in the world has been created in the last two years alone, with social and mobile data accounting for a large part of that. By analyzing and deriving insights based on the social dataset you gain a real-time, non-biased view of your customer and their experience. Modeling the unstructured conversations occurring in the social web provides a deep and holistic understanding of that experience. This means you can adjust your strategy now, without waiting for a post-mortem. * source: published on the Gartner website: http://www.gartner.com/technology/topics/social-media.jsp