big data & social insights
DESCRIPTION
This is the deck from the Big Data and Social Insights breakout session from the Becoming a Customer Company event on July 17th, 2013. For more information, please head to magnet360.comTRANSCRIPT
SOCIAL BIG DATA = ANALYTICAL
INFORMATION + SOCIAL RESPONSES
SAFE HARBOR
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PRESENTERS—ROB SILAS
• Over 20 years of experience in using data to drive strategy
• Founder of Numerical Truth, Insights and Analytics consultancy
• Areas of expertise: delivering insights from marketing, CRM, web analytics, and social data, both structured and unstructured
Rob Pix Here
WHEN YOU LEAVE TODAY, YOU WILL:
• Be able to identify the “low hanging fruit” for Big Data success at your company
• Know that Big Data success requires a plan tied to business objectives, the ability to provide insights, and leadership that understands both
• Hear examples of how companies are having success with Big Data
AGENDA
• What is Big Data?• The Value of Social Big Data• Necessary for Success: Planning, Insights, the
Leader• Using Big Data to Become a Customer
Company• Case Studies• Takeaways
WHAT IS BIG DATA?
Lisa Rosen
“Masses of data that you don’t know what to do with”
Svetlana Sicular
“Big data” is high-volume, -velocity and -variety information assets that demand cost-effective, innovative forms of information processing for enhanced insight and decision making.
2001
TEST YOUR BIG DATA KNOWLEDGE
Doug Laney
TEST YOUR BIG DATA KNOWLEDGE
IT ’S POPULAR
380,000 Mentions of Big Data, Past 90 Days
B U S I N E S S + S O C I A L D ATA
THE VALUE OF SOCIAL BIG DATA
THE VALUE OF SOCIAL BIG DATA
NECESSARY FOR SUCCESS: PLANNING
Strategic Planning
SalesMarketing
Innovation
Customer Service
• Industry• Competitors• Hot topics• Trends
• Purchase intent• Lead gen• Funnel analysis
• Brand perception• Brand reach• Content strategy
• Product Development• New opportunities• Desired features
• Issue resolution• Product performance• Support trends
Insights
Business Value
• Insights = relating data findings to business issues
• Need to look deeper into data to find insights: use advanced technology and “creative” analysis
NECESSARY FOR SUCCESS: INSIGHTS
• Use the Analysis—Insights Framework:
- What: reporting on the numbers
- So What: practical application to a business need/situation
- Now What: the actions to take based on the analysis
NECESSARY FOR SUCCESS: INSIGHTS
NECESSARY FOR SUCCESS: THE LEADER
But asking Big Data the right questions isn’t just a new practice to add to the management to-do list. Pulling it off requires a rethinking of the manager’s role entirely. We’ve traditionally thought of management as the discipline of managing people and managing the business. Now it’s time to add “managing our understanding” to the job description.
Ben ElowitzCEO, WetpaintAllThingsD, 5/20/13
When it comes to dealing with Big Data, our skills haven’t evolved as fast as our capacity. We all have a functional specialty, whether it be content creation or distribution or sales or management — so whose job is it to ask the right questions of the data? Big insights and actions aren’t led by a data scientist; they are led by an executive who has an integrated view of customers, products, distribution and sales.
DETERMINING INSIGHTS AND APPLYING THEM
79% of all Fresh Take conversations from women; most commonly aged 25-34
Fresh Take has 19% share of voice (4,674 mentions). When filtered for the voice of the consumer, Fresh Take has a 37% share of voice (2nd highest ).
Demographic
January 2012, there have been 24,600 total posts around Fresh Take and competitors’ brands
ConsumerVoiceTotal
Post Volume
OVERVIEW
RECAP OF FOUR SEGMENTS
Advance
Taste and Time
Innovator
Outcome and Taste
Oh That’s Cool
Skill and Wow Factor
Novice
Time and Skill Level
NoviceOh That’s Cool
Innovator Advanced
TasteTasteCostCostNewNew
PrepPrepFamilyFamily
Repeat Buyers
REPEAT BUYERS
95%
GROUPS OVER T IME
Innovators
Oh That’s Cool
Advanced
Novice
Time
CONVERSATION
The Novice
Is a group of consumers that has a
need for a product that is fast, easy,
simple, and cheap.
Is a group of consumers that has a
need for a product that is fast, easy,
simple, and cheap.
CookingIs a
Chore
Time
Price
8% at Launch 54% over time
NOVICE SEGMENT
This group is looking for a simple, cheap, fast, easy product with fail proof recipes.
Any negative conversations from this segment will be focused on price—they tend to be more of a transactional buyer
TIME
PRICE
Shops for products that are tailored to their inexperience in the kitchen
CookingIs a
Chore
NOVICE KEY FACTORS
“Cooking is not one of my favorite things. But, give me something to make is simple, quick and tasty and I’m all for it! If it’s a meal that my family likes, even better. ”
Connie Roberts –Bloggerhttp://brainfoggles.com, November 21, 2012
PROFILE OF A NOVICE
INTERACTIVE MAPPING
INTERACTIVE MAPPING
“Great Substitute”
“SO Cool!”
“Easy ”
GIVE VOICE TO THE CONSUMER & AMPLIFY
Novice
Oh That’s Cool
Innovator
Advanced“Texture/ taste
Rocks”
“New Ideas!”
“Cheap ”
SUMMARY
• Technology is critical to the success of Big Data, but just as important are:– Tying outcomes derived from data to business
objectives– Having the talent and infrastructure to find and
socialize insights– Leadership that understands the opportunities and is
willing to take risks
• Leading brands are using Social Big Data every day to improve engagement and find new opportunities to surprise and delight customers
LOW HANGING FRUIT FOR BIG DATA
• Social data, especially conversational data, is a good place to start Big Data efforts
• Technology exists to support it, and there are plenty of opportunities to:– Provide deep insights to drive strategies– Listen to conversations at scale and create scalable
engagement strategies
• Start by assessing current social data initiatives• Define most valuable Use Cases, other
supporting data available, and get started!
PLANNING YOUR SOCIAL MEDIA EFFORTS
• Know your business KPIs to the results level• What are the Use Cases that will best support
the KPIs?• How committed to Social are your C-level
execs? Do they understand the impact of “Good Data” and how to use it?
• What actions/activities are you doing around Social Media today?
LEARN FROM OTHERS’ EFFORTS
• Dove: used social data to measure and optimize their social media efforts
• Kraft: created new segments for engagement and increasing repeat purchases
• Common themes: – Willingness to take risks– Put systems in place to scale data collection and
engagement– Put resources in place to get key insights quickly and
take action (optimize)
Q&A