how to - using social media data to power marketing decisions
Post on 12-Jan-2015
404 Views
Preview:
DESCRIPTION
TRANSCRIPT
How to:
Using Social Media Data
to Power Marketing DecisionsConcrete examples and case studies on how social media can be used for
product innovation, consumer insights, media mix planning, and measuring ROI
Agenda
BREAKFAST
Introductions (9:00 – 9:15)
Self Assessment / Objective Sharing (9:15 – 9:45)
Social Media Maturity Model (9:45 – 10:30)
Connecting the Data (10:45 – 12:30)
LUNCH
Case Study: Actionable Customer Insights (1:00 – 2:30)
Case Study: Measuring ROI (2:30 – 3:15)
Selling Social Media ROI – Step 1 (3:30 – 4:30)
Selling Social Media ROI – Step 2 (4:30 – 5:15)
Wrap-up (5:15 – 5:30)
DRINKS!
About The Speaker
Marcus Tewksbury is a product strategy and business development expert with over 15 years of experience defining, marketing, and ultimately selling new B2B marketing services and technology offerings.
Today, Marcus focuses on strategic development for Alterian, an integrated marketing platform provider, where he advises key partners on messaging, launching, selling, and delivering data driven marketing solutions. In this role he also initiates and develops relationships with net new logos while building storylines and definitions for new Alterian offerings.
Over his career he has successfully launched dozens of products that have generated millions in revenue and been adopted by brands like Baxter, Coach, Hallmark, Hot Topic, Kaloo, KAO, Microsoft, Tower Records, ULTA, Walgreens, and Wal-Mart.
Marcus is a frequent speaker, having appeared at events for the American Marketing Association (AMA), Canadian Marketing Association (CMA), Direct Marketing Association (DMA), Integrated Marketing Summit, The Economist, Media Post, and Illinois Technology Association (ITA). His writing and presentations have appeared or been cited in numerous publications like Mashable.com, USAToday, Wall St. Journal, and the Word of Mouth Marketing Association (WOMMA). He has also been a guest lecturer at numerous universities such as Georgetown, Northwestern, DePaul, U. of Chicago, and York.
More on Marcus’s thought leadership can be found on his award winning blog http://themarketingmojo.com.
Marcus TewksburyPrincipal, Alterian
Course Objectives
State of the industry
Best-practice case studies
Reusable content and examples
Framework for selling ideas internally
Actionable input into classes’ real world scenarios
Valuable networking opportunity
Introductions
Social Media Maturity ModelBreaking down social media into specific disciplines
and exploring the current state of social media monitoring
Before you can discuss social media ROI you
have to be very explicit about what you mean
when you reference it. To focus the
conversation you need to understand the
different facets of social and what applies
Origins of Online
Evolved into Disciplines
EmailSearch
Display
Web
Social is adapting fast…
Social is adapting faster
2. WOM Campaign1. Syndication
3. Community
4. Listen / Measure
Building block of social media intelligence
Domain Terms
Handle
Location
Post
Date
Followers
SURVEY
Vendor Focus
PR
MR
ProductMedia
VENDOR
ANALYSIS
Connecting the DataIs the key to harnessing the true value of social media data
Social media can only be useful for decision
making if it can be applied against real budgets
and real things that impact what a brand does in
market. The key lies in connecting the data.
Socially, everything stems from a mention
The question is how to connect it to revenue
CRM
STORE
DIRECT
? ??
?
To connect data, you need hooks
Meta data are the hooks
Domain Terms
Handle
Location
Post
Date
Followers
The mention is a starting point
Mention
Date
HandleProduct
Brand
Life Stage
Domain
Competitor Format
….
…
The content of mentions can be analyzed and
flagged for the appearance of certain words that
have significance for the business.
Where, when, and who a mention is created also
creates data points that can be connected to other
business systems.
What you are trying to hook to is defined by the biz
Customer
Financial Competitive
•Market share•# of Markets•Brand rank•Indexes•Households
•NPV•IRR•ROI•Margin•Revenue
•LTV•NPS
•Reach•Contribution
Step 1. Articulate business problem
Example. “Want to know share of social voice
by our customer segments”
Step 2. Layout key pieces of puzzle
Mention
Date
Handle
Product
Brand
Life Stage
Domain
CompetitorForma
t
….
…
Customer Segment
Step 3. Evaluate how to make connection
Mention
Date
Handle
Product
Brand
Life Stage
Domain
CompetitorForma
t
….
…
Customer Segment ?
Building bridges
Step 4. Make the connections
Mention
Date
Handle
Product
Brand
Life Stage
Domain
CompetitorForma
t
….
…
Customer Segment
Customer
Email Handle
DATA MAP
EXERCISES
LUNCH
Case Study: Discovering Actionable Customer Insights
Methodology
Virtual ethnography: Discovery & learning
Social Media Measurement:Theme validation to ‘define’ target demographic
Data Analytics: Identifying and extracting a target data set reaching back over 18 months
Demographic data set
Benchmark Report
SSMdevelopment
Refresh Demographic data set
Q2 ReportSSM development
Refresh Demographic data set
Q1 ReportSSMdevelopment
On-going tracking cycle
"cooking for allergies" "mother" and "Fairy Liquid"
("kids" or "children") and "obesity" "mother" and "Fairy washing powder"
("mother" or "mum") and "cleaning" "mother" and "Fairy dishwasher tablets"
("mother" or "mum") and "housework" "mother" and "Gillette"
("kids" or "children") and "housework" "mum" and "Gillette"
("kids" or "children") and "chores" "mum" and "Lenor"
"DD" and ("parent" or "family") "mother" and "Lenor"
"DS" and ("parent" or "family") "mum" and "Max Factor"
"DH" and "family" and "kids" "mother" and "Max factor"
"DC" and ("parent" or "family") "mum" and "Olay"
"mother" and "breast cancer" and "children" "mother" and "Olay"
"daughter" and "cervical cancer" "mother" and "Oral B"
"Mum" and "anxiety" "mum" and "Oral B"
"mum" and "stress" "mother" and "pampers"
"mother" and "anxiety" "mother" and "Pantene"
"mother" and "stress" "mum" and "pantene"
("mother" or "mum") and " back to work" "kids" and "pringles"
"Stay at home mum" ("mother" or "mum") and "sanitary towel"
"working mum" ("mother" or "mum") and "hair care"
(“mum” or “mother”) and (“home working” or “working from home”)
("mother" or "mum") and "stains"
"children" and "bullying" "family" and "stain removal"
"son" and "bullying" "kids" and "stain removal"
"daughter" and "bullying" "kids" and "washing powder"
"daughter" and "the pill" "kids" and "fabric softner"
("kid" or "children") and "discipline" ("mother" or "mum") and "skin care"
"Child" and "custody" and "Boyfriend" ("mum" or "mother" or "DH") and "scream"
"Child" and "custody" and "girlfriend" ("mum" or "mother" or "DH") and "rant"
"divorce" and "children" and "custody" ("mum" or "mother" or "DH") and "moan"
"family" and "friendly" "meeting other parents"
"fostering" and ("children" or "kids") "mother" and "Always Ultra" and "pads"
("Kids" or "children") and "holidays" "mum" and "Always Ultra" and "pads"
"family" and "holidays" "Managing" and "Family" and "Budgets"
("kids" or "children") and "tuition fees" "living on a budget" and "children"
"Finding" and "Primary School" "Saving money" and "family" and "Kids"
"Finding" and "Secondary School" "mum" and "Duracell"
"daughter" and "boyfriend" and "sex" "mother" and "Duracell"
"son" and "girlfriend" and "sex" "mum" and "Fairy Liquid"
"teenager" and "sleeping together" "mum" and "Fairy washing powder"
"daughter" and "facts of life" "mum" and "Fairy dishwasher tablets"
"son" and "facts of life"
"children" and "games" and "car journeys"
"children" and "entertain" and "car journeys"
"working mother"
("mother" or "DH") and "let off steam"
("mum or "Mother" or "DH") and "scream"
86 unique, defining search terms
10 aggregate categories
1 Diet 1. Children's health
2 Health
3 Household cleaning 2. Domestic issues
4 Family group 3. General family issues
5 Health 4. Mothers issues
6 Back to work
7 Stay at home
8 Work
9 Bullying 5. Universal parenting issues
10 Contraception
11 Discipline
12 Divorce
13 Family friendly
14 Fostering
15 Holidays
16 School
17 Sex
18 Travel
19 Work
20 Budgeting
21 Let off steam 6. Social release
22 Socialising
23 Always ultra 7. Target brands
24 Duracell
25 Fairy
26 Gillette
27 Lenor
28 Max factor
29 Olay
30 Oral b
31 Pampers
32 Pantene
33 Pringles
34 Feminine hygiene 8. Target categories
35 Hair care
36 Household cleaning
37 Laundry
38 Skin care
39 Technology support 9. Mothers and technology
40 Alcohol 10. Parenting teenagers
41 Depression
42 Drugs
43 Exams
44 Fostering
45 Piercing
46 Sex
47 Sexualisation
48 Tattoos
SM2 Searches
• Ran all keywords and themes for Christmas Period 2010
• Focused on blogs and message boards/forums
• Collected 105,000 conversations from a 6 week period
– Blogs/Forums/Message Boards (no Twitter or Facebook)
– www.mumsnet.com and www.netmums.com - most active sites
• In Analytics environment, focused on authors and domains
• Created a “Family Score” for each conversation
• Identified top 600 females and their top domains
• Created a data set of conversations from 600 “Super Mums” for key time periods (summer and holiday seasons)
• Tracked activity and categories of conversations for “Super Mums”
Analytical Process
Virtual Ethnography
EXCEL
EXERCISES
Case Study: Calculating ROI
To have ROI you must have revenue. Revenue
itself, with exception, is not created directly
through social media. Influenced, certainly, but
not create. To demonstrate ROI, therefore, you
must connect social media data with data from
other parts of the businesss like CRM, email,
web, etc.
When is 2% not 2%?
$ 10,948,054
$ 2,154,516 VS.
When it translates to 5X
The Story of a Tiger
Tiger Woods’ “massive” decline was only 2%
2009 2010 % Difference
298.4 Driving Distance 292 2.14%
64.29% Driving Accuracy 63.19% 1.71%
68.46% Greens in Regulation 67.01% 2.12%
1.743 Putting Average 1.781 -2.18%
4.15 Birdie Average 4.06 2.20%
68.05 Scoring Average 69.65 -2.35%
28.44 Putts per Round 29.07 -2.22%
Selling Social Media ROI – Step 1Connecting with stake holders and understanding causation
Lots of people think ROI is a fixed, hard metric. In reality, though, ROI is a relative term. Every organization, and department within those organizations may define it differently. Ultimately, demonstrating ROI is going to be tied to your ability to connect with a stake holder and build confidence in the measures you are showing.
Rolling out the “red” carpet…
Social Media doesn’t always find a warm response. This is yet another compelling reason to learn how to sell your ideas.
Identifying your clients
YOU
CMO
Brand / Vendor Management
Insight / Research / Analytics
BI
Analytics
Insight
Online
Ecommerce
Search
Social
In-store Media
Planning
Display
TV
Loyalty CRM
Database Marketing
Customer X
Executive Creative Director
FP&A
CMTO
YOU
Who do you work with? What stacks do you serve?
"You can make more friends in two months by becoming interested in
other people than you can in two years by trying to
get other people interested in you.“
- Dale Carnegie
There are no ugly babies…
How do you connect with them?
.. Focus on their needs
Look beyond what they tell you?
Suspect Profile
Titles:
• Director of Marketing Database
• Senior Director, Circulation and Forecasting
• Senior Director, Business Analytics
• Director of Application Development
• Marketing Database Manager
• Senior Circulation Manager
• Director of CRM
Priorities:
1. Maintaining revenue levels
2. Reducing circulation costs by mailing less
3. Create new revenue opportunities with triggered responses
4. Increasing response rates by leveraging new channels
5. Improving the customer experience by reacting to their preferences
6. Build customer loyalty by delivering individualized communications
7. Demonstrating financial contribution
KPI’s:
• Circulation
• Cost per
• Store over Store Revenue
• Member / Non-Member Basket
• Turn time
Budget
Some likelihood this group will struggle to get incremental budget for capital projects. Much of funding is likely to come from cost savings generated by evolving them off of traditional list processing in terms of more efficient physical mailings and enablement of cheaper channels.
With exception, they aren’t going to be top of mind from an investment perspective.
Suspect Profile: “Spinners” (PR/Corporate Marketing)
Titles & Organizational Roles•Senior Business Systems Consultant, Social Media & Digital Strategy (Corp.) – Drove process, evaluation, feedback from stakeholders and decision-makers, etc. •Director, Corporate Public Affairs (Corp.) – key stakeholder for corporate reputation; owned budget•Director, Social Media & Portals (Business Unit) – key stakeholder from product group; owned budget
Top Concerns (Why we were in the room)•Corporate reputation monitoring•Adverse Events (AE) notification and reporting for drug therapies
Budget3-month paid pilot2 crisis management interventions
Competitive Interests (What can steal budget?)•SM Monitoring companies•Marketing/Digital Agencies
Applicable verticals•Pharmaceutical; Healthcare
How we got into the room•RFP out of 17 vendors•Won on strategic listening POV•3-month paid pilot•Engagement extended
Timing•From RFP to pilot•Pilot took 3 months
Suspect Profile: __________________
Department & Title1. ____________________________________________________2. ____________________________________________________3. ____________________________________________________
Common Problem (Why are they approach you? You them?)
1. ____________________________________________________2. ____________________________________________________3. ____________________________________________________
Stakeholder KPI’s (What are their goals? What drives their compensation?)
1. ____________________________________________________2. ____________________________________________________3. ____________________________________________________
Timing (Do they face any critical milestones? When do things have to be delivered?)
_________________________________________________________________
Budget (How much do they have to spend? Do they need buy-in from others?)
1. ____________________________________________________2. ____________________________________________________
What you need to do to make a connection
1. Identify your core audience
2. Identify their most pressing pain
3. Move past expression to causation
Selling Social Media ROI – Step 2Crafting your proposition and influencing key stake holders
Build on your profile
Present a compelling argument
Define the Problem
State the Cause
Present your Answer
Argue the Net Benefits
PCAN Model
Alterian Social Media Engagement SolutionsPeople don’t buy tools
They buy outcomes
Breakthroughs can redefine the problem
“If I had listened to what my customers wanted, I would have bred a faster horse.”
-Henry Ford
Solution Definition: __________________
Problem Solved (No cure-alls. Should be very specific on the problem solved.):
1. ______________________________________________2. ____________________________________________________3. ____________________________________________________
Answers (How do you solve the problem? Should address the root cause.):
1. ________________________________________________________________________________________________________
2. ________________________________________________________________________________________________________
Benefits (What will the stake holder gain from this solution ):
1. ____________________________________________________2. ____________________________________________________3. ____________________________________________________
Reference Stories (Nobody wants to go first. What precedent can you site?):
__________________________________________________________________________________________________________________________________________________________________
Solution Definition: __________________
Monetization (How will you argue the value created?):
Demonstration (Need to make message vivid. How can paint the mental picture?):
Elevator Pitch (How can you rapidly and concisely convey the value in your solution?):
________________________________________________________________________________________________________________________________________________________________________________________________________________________
Let’s map out the influence tree
Use the power of the pack
Establish a plan of attack
Plan meetings and goals
Exploration Build Base DiscoveryStart down the chain.
Begin to collect information. Goal
later is to never ask a question you don’t
know the answer for.
Start to target satellite influencers. Gather
their input and incorporate into
offering. Give them ownership to build
support.
Don’t approach decision maker
directly. Look for the entré.
+ + +…
Always monetize the benefit…
Wrap Up
Objective Recap
State of the industry
Best-practice case studies
Reusable content and examples
Framework for selling ideas internally
Actionable input into classes’ real world scenarios
Valuable networking opportunity
SURVEY
Social disciplines
WOM Syndication Community Applied Insight
Soliciting influential advocates to go forth and proselytize for your brand or product.
Freely distributing owned content across earned networks. Social reach drives impressions.
Actively foster and promote engagement in relevant communities.
Social media serves as the worlds greatest virtual ethnography. The next doorways are to applying it in meaningful ways.
Social is ubiquitous
CMO
Brand / Vendor Management
Insight / Research / Analytics
BI
Analytics
Insight
Online
Ecommerce
Search
Social
In-store Media
Planning
Display
TV
Loyalty CRM
Database Marketing
Customer X
Executive Creative Director
FP&A
CMTO
? ? ?
?
?
?
?
?
?
Social is not always well received
Remember the 6 Steps
1. Identify your core audience
2. Diagnose their most pressing pain
3. Define an outcome driven solution proposition
4. Design a multistep plan of attack (PCAN)
5. Use the power of the pack
6. Monetize the solution
Resources
Social ROI
• http://womma.org/store/measurement/
• http://about.bzzagent.com/word-of-
mouth/go/social-media-roi
• http://allthings.womma.org/2010/02/11/g
uidebook/
Media Mix Modeling
• http://www.networkedinsights.com/down
loads/2011-Oscars-Report-Networked-
Insights.pdf
Social Media Monitoring
• http://sm2.alterian.com (Free)
• www.socialmention.com (Free)
• Google Alerts (FREE)
Social Strategy
• http://themarketingmojo.com
• http://www.socialnomics.net/
• http://www.collectiveintellect.com/blog/
Community Building
• http://slideshare.net/conniebensen
Social Media Crisis Plans
• http://www.web-
strategist.com/blog/2010/03/22/prepare-
your-company-now-for-social-attacks/
• http://www.slideshare.net/kamichat/10-
steps-integrating-social-media-into-
crisis-plans
Questions?
Marcus TewksburyPrincipal, Alteriantewksbum@alterian.com+1 312 884 5330www.twitter.com/tewksbum
THANK YOU!
top related