Social Intelligence : Connecting consumers to brands

Your brands are what friends talking at Social Networks and not what your Marketing publishing/ writing about.

Consumers wants a VIP Experience with their favorite brands.

How being liked can lead to potential customers and help retain their loyalty later.

Traditional business processes

Often hierarchal and siloed, but critical to business goals and success

Product Mkting Sales Services

Corporate Strategy

Information Systems

Human Resources

Finance & Administration

Unstructured social interactions

that streamline communication, enhance relationships, etc.

The Social Organization

Social organizationsTransformed business processes

that improve productivity, efficiencies & revenue growth

Services

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Social Media- Foundation for Collective Wisdom

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Social Intelligence: Enabling Business in The New Normal

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Social Networks is changing the way Business connect with customers

What Banking needs to know today.1. How can I engage with my customer, understand their needs and link this to our

value-add services?

2. Who is creating content and influencing the “conversations” about our: Products, pricing, promotions, marketing, and advertising? Competitors pricing, products, and promotions?

3. How do we compare with the competition? Terminology associated with brand and image, quality, campaigns

4. Who are the key authors, influencers, and content creators? What URL/ domains are most active blogs, micro-blogs, twitter, posting photos, and posting

videos?

5. What is the sentiment? Is it good, bad, good and bad, or neutral?

Social media isn’t a choice anymore –it’s a business transformation tool.”

Natalie Petouhoff, Forester Research

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Today’s Customers…Multiple Sources, Multiple Channels… Connected

Listen and Learn Engage & Respond Connect & Grow

Omni-channel touch-points – store, online, social networks, mobile, games

Flexibility: engage across channels Personalized experience, contextual Social shopping

Build brand awareness Build customer loyalty Feed ideation and innovation Micro-marketing Be part of the community

Social analytics research Get input from friends on social networks Competitive Intelligence Contact Intelligence

Social Intelligence across the organization

Create competitive advantagesKnow the voice of the people across channelsIdeas and innovation inform decision making

Review analysts report Publish / subscribe to content and authorsGoverned process to moderate social dialogknowledge sharing across communities

Continuously monitor unstructured contentCollaborate with business owners

Prepare and publish findings

SR Executive

Subject Matter ExpertsMarketing & Research

Functional Team Customer Services

(Sales, Marketing, HR)

Analysts

Monitor campaign performanceAdjust campaign strategies across channelsQuickly source and promote ideas and innovation across

communities of practice

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Applying Social Analytics – Example Banking

Banking

Encompass a variety of financial products

Deposit accounts, consumer loans, home loans, tailored accounts, credit/ debit cards, ATM, demat facilities, money market accounts, wealth management, Forex trading

Online bill payments, transfer of funds, certified payment

May also include cross-selling in insurance and financial markets

Mutual funds, securities

Need

Banks need to attract customer, understand their needs, map their needs to the right services

Initial Assumptions

Customers needs are difficult to identity as we do not have access to really know them well unless they visit our facilities

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Connecting our customers to the right products

Apply BI 2.0 Social Analytics to Leverage Social Media more effectively

“Listen” by reading the online content “chatter” Identify demographics that are creating the most content about specific products and services Create customer-focused messages around our products Engage with the customer online within communities forums

“Learn” The sites, blogs, forums that are most active around your products

More than comparing interest rates, compare what people relate in terms of overall services

The people who are influencing the conversation and why

The ideas, suggestion, opinions, relevant to cross-selling financial products and services

“Engage” Interact online with key influencers Learn to “chat”, micro-blog (tweet) at the right time Be part of the group and community

Use Social Analytics to identify the right audience and focus marketing campaigns

Pre-purchase • Anytime, anywhere

• Multi-channel – store, online, social networks, mobile, games

• Flexibility: buy online, pickup in store• Personalized experience, contextual

• Sales, Promotions, newsletters• Professional communities

• Business to community, write reviews, contribute ideas

• Use of devices shop and research• Get input from friends on social networks• Read reviews, ratings, experiences• Compare prices, search coupons

Purchase On-going contact

Social Media Listening and Response Center

Next generation Contact Center• Social Media growing constantly• Exponential increases in customer “touch-points”• Providing the integration need to know your customer

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Analyzing consumers interests- Facebook

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Analyzing consumers segments

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Analyzing consumers segments

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Analyzing consumers segments

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Analyzing consumers segments

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Analyzing consumers segments

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Analyzing consumers segments

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Leveraging social networks to grow your business

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Enables marketing messages reach to most potential consumer segments

Helps to create messages aligned to consumers interests

Helps to change product designs and even supply in alignment with market sentiments

Keep consumer engaged with product brands while delivering personalized experience

Helps to make CRM operations more efficient & effective

Can fuel new product innovations by allowing consumers to participate in product design ideas