digitalmr social media research for fs june 21
DESCRIPTION
DigitalMR presentation at VRL Cards conference in Frankfurt June 21, on social media research and marketingTRANSCRIPT
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Business advantage through social media research
Web listening and online communities can provide competitive edge
This presentation contains proprietary/confidential company information. All unauthorized distribution prohibited. Any unauthorized recipient please
immediately notify DigitalMR by email at [email protected]
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Agenda
Embrace Social Media
Web Listening – Card Insights Jan-May 2011
Cards Presence in Social Media
Embrace Social Media
Era of Mass Media
Era of Personal and
Participation Media (e.g.
Facebook)
Era of Brand/
Broadcaster
Control
Era of Consumer Control
Frequency / Intrusion Interaction /
Engagement/Dialogue
“Social Media has changed the world! Its impact is comparable to
that of the industrial revolution in the 19th century!”
Past Present/Future
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©2011 Digital-MR All Rights Reserved
For your company do you have the answers
to these questions:
How does Social Media fit into the wider picture?
What makes Social Media different from other media?
Where to start with Social Media Research & Marketing?
How can Social Media be used to amplify existing plans?
How do my marketing objectives impact my choice of media?
Crawl before you Fly
Web listening
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Levels of Web Listening
Quick reads of Individual
comments, Manual classification,
Alerts
Dashboards, Media
Planning, SEM, PR
Actionable business insights
Social Media
Monitoring
Social Media
Research
Search Based
(Buzz)
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Bu
sin
ess V
alu
e &
Co
st
Increase Sales
New product development
Shape and sharpen messaging
Improve existing products
Discover new customers
Invite customers to join online communities
Understand mindsets, target better
Rebrand or reposition
Address public issues
Manage online reputation
Provide customer care
Increase loyalty and customer value
8
Business Benefits of Web Listening
The fear/risk factor : What can happen to your company if you do not engage?
The opportunity: how much can you grow?
Web Listening
Online Chat Groups/ IDIs
Bulletin Boards/Forums
Online Stimuli Evaluation
Video/photo Diaries
Video Clip Evaluation
Polling
Social Media Research has Web Listening in its centre
integrated and enhanced with other online research!
Listen ~ Analyse ~ Understand ~ Engage
100-500 Members in a
Community, your extended
marketing team for
Co-creation.
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Interaction Tool Example - Online Chat Groups (5-6 participants)
• [Wed 28 Apr 2010 04:09:04 AM EDT] P it was in a business meeting, just thought he could qualify and talked about them.
• [Wed 28 Apr 2010 04:09:07 AM EDT] C when I was their client
• [Wed 28 Apr 2010 04:09:33 AM EDT] A: It happened in one of our bank visits at the London Branch”
Participants (6)
The moderator can be seen and heard The participants type their answers
The questions will also be shown visually
Tried to change address of account - now locked out and staff not allowed to discuss with me over the phone. Nearest branch
is many miles away and this has been ongoin for over a month
Like the service but don't like speaking to india if I
have a query
This month I have had 158.00 of charges, which has taken me 40.00 over my Reserve, resulting in excess fees for
next month
Works as expected, clear statements, easy to pay,
useful online facilities, easy to raise credit limit (and only
done on request.
Nothing "wow" about the service, but its a reasonable
card and their antifraud approach is better than other
cards I have
Poor value for money
good customer service, clear information, and a good online
interface
Syndicated & Monthly
Web Listening Reporting Examples
For
CARDS
Data Harvested YTD (January 1- May 31, 2011)
Negative and Positive Share of Voice (SoV)
Credit card feature for credit history has 30% negative SoV but only
16% positive SoV!
Net Sentiment Score (NSS) by Card Feature
Net Sentiment Score= (Positive – Negative Mentions) / Total Mentions
…and the Credit card feature with the highest score is …Credit card incentives!
Net Sentiment Score (NSS) by Card Feature
American Express in payment options and HSBC in interest rates
have some work to do. For annual fees consumers don’t seem to
have a lot of positive to say about these 3 banks.
American Express Card Benchmarked
Top 5 Features Competitive Benchmarking
Positive Score
Top 5 Features American Express
Sentiment Scores
American Express
is Better
Competitor is Better
52% 59%
HSBC JP Morgan
11% 21%
19% 11%
15% 5%
4% 4%
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Feature Positive
Score
Frequency
Index
Benchmark
Score
Credit Card Interest 9% 2 21%
Consumer Protection 5% 5 4%
Credit Card Incentives 59% 1 52%
Colour Code Key Priority Secondary
Priority
Maintain
Priority Matrix for American Express Card
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The Drill-down
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Most talked about Card features
Drill-down level 1
Credit card feature for incentives seems to be getting a lot of buzz!
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Credit Card Incentive feature by Brand
Drill-down level 2
Within incentives which brand gets most of the attention online.
Is that good or bad?
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Credit Card Incentives for HSBC card by Source
Drill-down level 3
Where are the most comments about HSBC credit cards posted?
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Sentiment on FicoForum.com for HSBC credit card
Drill-down level 4
Why does HSBC credit card have 13% negative comments?
Negative Posts regarding HSBC credit card on FicoForum.com
Drill-down level 5
Who said that they had a bad experience with HSBC credit card ?
Drilling down to a single comment...
Drill-down level 6
Manage your online reputation.
Engage in a dialogue with your customers about your product.
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Competitor Analysis Example (16/06/2011)
Brand Followers Tweets Last week
American Express Card 145,939 125
Visa Card 6360 14
Master Card 5667 32
Deutsche Bank Group 3720 12
Brand Total Upload Views Total Channel Reviews
American Express Card 2,210,072 8,254,154
Visa Card 253,956 10,417
Master Card 177,480 62,152
Deutsche Bank Group 61,967 36,817
Youtube
Brand Fans Number of pages in
English created by brand
Number of page in
English created by fans
American Express Card 944,875 183 400
Visa Card 95,420 190 110
Master Card 1278 215 100
Deutsche Bank Group 6174 78 143
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How to do it
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What not to allow
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Where are you on the curve and where do
you want to go?
Source: www.collectiveintellect.com
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Contact:
Michalis A. Michael
9 Coldbath Square :: London :: EC1R 5HL :: UK Mob +44 (0) 7515710370
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Q&A