the social media revolution in market research

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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] 215-501-2341

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Page 1: The Social Media Revolution in Market Research

Thank You

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Ben Smithee

!

Page 3: The Social Media Revolution in Market Research

?’s encouraged

#AMAMR

@SpychResearch

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social media

web 2.0

interactive marketing

new media

social networking

inbound marketing

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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?

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synergistic channel

research, design, marketing, communication, feedback

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short, real-time, txt, audio, video

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multi-input

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multi-output

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evolution of marketing and brand communication strategies

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it’s no longer about shouting

1,000 100 10

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it’s about building and maintaining relationships

10 100 1,000

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names you are tired of hearing

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names you are tired of hearing

by understanding these

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you can better understand these

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where does social media fit in MR?

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amazingly intimate

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everyone is becoming a researcher

results now!

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today’s consumers:1. blog2. comment3. vlog4. tweet5. talk to others6. call customer service

experience

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benefits to understanding SM and its value to MR

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the potential value of SM

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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

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realize the massive potential...but don’t under-estimate the

power of one!

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US Airways flight – Janis Krum, ferry passenger, first to tweet before any traditional media

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how can I successfully apply thisto market research

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seek first to understand

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understand the strengths/weaknesses and applications for

appropriate implementation

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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?

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social media monitoring

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bloggers have a voice

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tweetgrid

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tweetdeck

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monitor traffic

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video is king

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video chat/journaling

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i’m finally on facebook...now what?

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harness its power effectively

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but I’m interested in my company

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so are all of these people

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if you haven’t figured it out, it’s not about your network...it’s about theirs!

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the power is in groups

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isn’t YouTube just for ridiculous home videos?

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not anymore

Youtube - search - Sprint “now”

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instant feedback and reviews

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the “new” news

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customization

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user and crowd-sourced customization

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secure corporate networks

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an example from experience?

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a socially interactive approachat SXSW 2009

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SM in recruiting, interviewing, follow-up, logistics, deliverables

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looking forward

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enhanced corporate acceptance

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further movement toward video

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real-time video streams

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global standard

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what is the bottom line?

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SM is not for everyone and everything

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we are past “twitter is cool” and “get a facebook page”

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perception is reality

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SM gives us another valuable tool to obtain consumer insights

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used appropriately, you can mine honest & candid feedback from

audiences eager to voice opinions

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please keep in touch!

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Ben Smithee

@SpychResearch

SpychResearch.com

Benjamin Smithee

Spych Fan Page