the social media revolution in market research
DESCRIPTION
Presentation given by Ben Smithee at the May 22nd DFW American Marketing Association Market Research Meeting in Dallas Texas. How social media applies to the world of market research and communication Ben Smithee - Managing Partner, Spych Market Analytics, LLC [email protected] 215-501-2341TRANSCRIPT
Thank You
Ben Smithee
!
?’s encouraged
#AMAMR
@SpychResearch
social media
web 2.0
interactive marketing
new media
social networking
inbound marketing
topics:what is it?
how is it changing what we do?
why is it valuable to us as researchers?
where do we start?
where is it going?
synergistic channel
research, design, marketing, communication, feedback
short, real-time, txt, audio, video
multi-input
multi-output
evolution of marketing and brand communication strategies
it’s no longer about shouting
1,000 100 10
it’s about building and maintaining relationships
10 100 1,000
names you are tired of hearing
names you are tired of hearing
by understanding these
you can better understand these
where does social media fit in MR?
amazingly intimate
everyone is becoming a researcher
results now!
today’s consumers:1. blog2. comment3. vlog4. tweet5. talk to others6. call customer service
experience
benefits to understanding SM and its value to MR
the potential value of SM
fastest growing community site -1,382% increase in visits
475,000 unique in Feb 2008 - 7 million in Feb 2009
largest age group adults 35 - 49
131% increase in March up to 9.3 Million
realize the massive potential...but don’t under-estimate the
power of one!
US Airways flight – Janis Krum, ferry passenger, first to tweet before any traditional media
how can I successfully apply thisto market research
seek first to understand
understand the strengths/weaknesses and applications for
appropriate implementation
how do my customers communicate online?
what tools do they use?
real-time updatesunbiased buzz
non-intrusive monitoring
intimate observation
GenYcollege
B2Btechnology
does utilizing SM make sense for your project?
social media monitoring
bloggers have a voice
tweetgrid
tweetdeck
monitor traffic
video is king
video chat/journaling
i’m finally on facebook...now what?
harness its power effectively
but I’m interested in my company
so are all of these people
if you haven’t figured it out, it’s not about your network...it’s about theirs!
the power is in groups
isn’t YouTube just for ridiculous home videos?
not anymore
Youtube - search - Sprint “now”
instant feedback and reviews
the “new” news
customization
user and crowd-sourced customization
secure corporate networks
an example from experience?
a socially interactive approachat SXSW 2009
SM in recruiting, interviewing, follow-up, logistics, deliverables
www.youtube.com/spychresearch
looking forward
enhanced corporate acceptance
further movement toward video
real-time video streams
global standard
what is the bottom line?
SM is not for everyone and everything
we are past “twitter is cool” and “get a facebook page”
perception is reality
SM gives us another valuable tool to obtain consumer insights
used appropriately, you can mine honest & candid feedback from
audiences eager to voice opinions
please keep in touch!
Ben Smithee
@SpychResearch
SpychResearch.com
Benjamin Smithee
Spych Fan Page
still not fully convinced?
(215) 501-2341
SourcesAdvertising Age
emarketer
blogpulse
youtube
Nielsen