september 2011 webinar: beyond fan pages

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Beyond fan pages: How social media can be used to drive consumer insights for your whole business Michael Mayers, Vice President, Business Development 12pm CST, Wednesday September 28 th 2011 #rnwebinars

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Page 1: September 2011 Webinar: Beyond Fan Pages

Beyond fan pages: How social media can be used to

drive consumer insights for your whole business

Michael Mayers, Vice President, Business Development

12pm CST, Wednesday September 28th 2011 #rnwebinars

Page 2: September 2011 Webinar: Beyond Fan Pages

Today’s agenda

2

What is social media research, where is it right now, and what are the implications for my business?

How can social media research be applied and drive value for my clients?

What should we be thinking about when it comes to using this in my business?

#rnwebinars

Page 3: September 2011 Webinar: Beyond Fan Pages

Social media monitoring began with corporates and the goal of engagement

3

1 million

new members join LinkedIn each month

500,000 videos are uploaded onto YouTube each day

Twitter was averaging

27 million tweets per day at the end of last year

Flickr hosts more than

4 billion images

Purpose built Facebook pages have created more than

5.3 billion fans

At the current rate Twitter will process more than

10 billion tweets this year

70% of bloggers are

organically talking about brands on their blog

78% of 18-21 year

olds trust the opinions of others about products / services rather than traditional advertising

38% of bloggers post

brand or product reviews

Sources: (1) Jake Hird, Econsultancy, 20+ Mind Blowing Social Media Statistics Revisited http://econsultancy.com/blog/5324-20+-mind-blowing-social-media-statistics-revisited (Jan. 29, 2010). (2) Leoni, Joanne PhD. (2010). “Social Media: A Way of Life and Business.” Presentation at the 2010 Florida MRA Education Event in South Beach, FL, April. (3) Wikipedia

Page 4: September 2011 Webinar: Beyond Fan Pages

Engagement tools become increasingly adopted…

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• Customer education

• Product launch marcoms

• Customer service workflow

• Drive brand loyalty

Engagement

Insights & Planning

• Ad effectiveness & campaign evaluation

• Media, digital strategy planning and modeling

• New Product Development

• Category level insights – U&A

• Brand monitoring & competitive profiling

• Social/behavioral research

• Crisis management

…and now Insight & Planning tools come of age

#rnwebinars

Page 5: September 2011 Webinar: Beyond Fan Pages

Adoption amongst researchers is accelerating into the early majority

5

• Innovate by augmenting traditional methods

• Accelerating insights and strengthens client relationships

• Full service providers offer hassle-free integration

• Relatively low total cost of ownership

• Drives competitive advantage

18% of researchers are currently using social media for the purposes of generating consumer insights*

*Source: e-Rewards, Inc. client survey, August 2011

Page 6: September 2011 Webinar: Beyond Fan Pages

Today’s agenda

6

What is social media research, where is it right now, and what are the implications for my business?

How can social media research be applied and drive value for my clients?

What should we be thinking about when it comes to using this in my business?

#rnwebinars

Page 7: September 2011 Webinar: Beyond Fan Pages

Where should we land…?

7 #rnwebinars

Page 8: September 2011 Webinar: Beyond Fan Pages

An assessment of the flyer experience

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Competence Accessibility Crowding

Parking

Eating Punctuality

#rnwebinars

Page 9: September 2011 Webinar: Beyond Fan Pages

An assessment of the flyer experience vs peers

9

2.5

2.7

2.9

3.1

3.3

3.5

3.7

Competence

Accessibility

Crowding

Parking

Eating

Punctuality

Gatwick Airport Travel Airports

Data collected by Conversition for period 1st February – 1st August 2011

2.5

2.7

2.9

3.1

3.3

3.5

3.7

Competence

Accessibility

Crowding

Parking

Eating

Punctuality

Gatwick Airport Travel Airports

More positive

Page 10: September 2011 Webinar: Beyond Fan Pages

Gatwick is the airport…but we recommend getting there by car

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RE: Gatwick Express Trains (&London/Brighton) are cancelled [1 Aug reduced

service 2 Aug]...

Gatwick Airport travel chaos as rail line floods after burst water

main...

Trains to Gatwick airport delayed: After leaves and snow on the line,

now it's SAND...

Travelers heading to Gatwick Airport by train faced long delays after a

burst water main caused a landslide dumping tons of sand onto the

tracks...

Verbatims collected by Conversition for period 1st February – 1st August 2011

Page 11: September 2011 Webinar: Beyond Fan Pages

A look at Bank of America

11 Data collected by Conversition for period January 1st – August 31st 2011

2.9

2.95

3

3.05

3.1

3.15

3.2

3.25

3.3

3.35

3.4

Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11

Overall Sentiment

Bank of America Financial Services Retailers

Mo

re p

osi

tive

Note: Non zero scale

Page 12: September 2011 Webinar: Beyond Fan Pages

A deeper dive reveals some driving issues

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52%

41%

35% 34% 34%

28% 28% 27%

0%

10%

20%

30%

40%

50%

60%

0

2000

4000

6000

8000

10000

12000

14000

Error Honesty Waiting Intelligence Mortgages Punctuality Fee - Aggregate Bank Loan

Ne

gati

ve S

en

tim

en

t (%

)

Sam

ple

Siz

e (

Vo

lum

e)

Bank of America: Most Negative Themes

% Negative Sample Size

Data collected by Conversition for period January 1st – August 31st 2011

Page 13: September 2011 Webinar: Beyond Fan Pages

August 8th – 14th: A notable drop in sentiment

13 Data collected by Conversition for period 8th – 14th August 2011

Countrywide folded into Bank of America is the

albatross that won't go away for BAC

GUESS WHAT!!! BANK OF AMERICA TRIED TO FORCLOSE ON A FAMILY THAT HAD PAID CASH FOR THEIR MORTGAGE.

AIG sues Bank of America for $10B over mortgages

State Files Suit Against Bank of America Unit in Foreclosure Mess

They’re knee deep in the prime mortgage scandals

Page 14: September 2011 Webinar: Beyond Fan Pages

Source analysis reveals planning priorities

14 Data collected by Conversition for period 1st January – 31st August 2011

27% 25% 24% 23% 23%

45% 54% 57% 48% 51%

28% 21% 19%

30% 26%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

facebook.com wordpress.com twitter.com blogspot.com reuters.com

Source Analysis for Bank of America

Positive

Neutral

Negative

Page 15: September 2011 Webinar: Beyond Fan Pages

Today’s agenda

15

What is social media research, where is it right now, and what are the implications for my business?

How can social media research be applied and drive value for my clients?

What should we be thinking about when it comes to using this in my business?

#rnwebinars

Page 16: September 2011 Webinar: Beyond Fan Pages

#1: Collect relevant data…because customers aren’t as careful with your or your client’s brand as you are

16 #rnwebinars

Page 17: September 2011 Webinar: Beyond Fan Pages

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#2: Exclude the wrong data...because a key word search is not a brand search

#rnwebinars

Page 18: September 2011 Webinar: Beyond Fan Pages

#3: Someone must sense-check the data in context… because customers shooting each other is a bad thing (unless the subject is online gaming)

18 #rnwebinars

Page 19: September 2011 Webinar: Beyond Fan Pages

#4: Weight the data properly… because the Twitter Firehose sounds cool, but not if you are trying to get a balanced view from consumers

19 #rnwebinars

Page 20: September 2011 Webinar: Beyond Fan Pages

#5: Sit on the right side of the privacy debate… because guidance may turn into legislation

20 #rnwebinars

Page 21: September 2011 Webinar: Beyond Fan Pages

About Conversition

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• Founded: 2009

• Offices: New York, Toronto

• Corporate parent: Part of the e-Rewards, Inc. group and a partner company to Research Now

• Focus: The needs of the agency or corporate market researcher

• Corporate mission: To provide clients with trustworthy social media research data from which you can draw rich insights and drive competitive advantage for their business

Email us at: [email protected]

#rnwebinars

Page 22: September 2011 Webinar: Beyond Fan Pages

Thank you for your time

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Q&A

#rnwebinars