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FutureM 2013 session with Crimson Hexagon Moderator: Elizabeth Breese Senior Content and Digital Marketing Strategist, Crimson Hexagon Speakers: Mitch Brooks Senior Research Strategist, Crimson Hexagon Richard Ng Vice President, Insights and Intelligence, Edelman Digital Sean Rusinko SVP Digital Strategy, Verndale Guen Yi VP, Analytics Insights, The Walt Disney Company Social media metrics are at the leading edge of marketing and market research practice. However, it’s important to distill the useful from the trendy. This panel, lead by Crimson Hexagon, brings together leading marketers to speak honestly about the merits of social data, and to discuss situations when traditional metrics and research should not be discarded in favor of social media analysis. Panelists will dig into which traditional metrics are best, and explore the ideal moments to look to social media opinion to guide marketing and business strategy moving forward.
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SOCIAL + ANALYTICS
Does Social Media Opinion Matter?
VISIONARY SPONSORS INNOVATOR SPONSORS
SESSION PARTNER
TALK ABOUT US! #FUTUREM @CRIMSONHEXAGON
Social media allows us to identify who our client’s consumer base is, and listening to them allows us to understand what marketing is resonating with that audience segment.
IDENTIFY
Because social provides insights into what drives and motivates users, we use that information to create a unique, personalized, and optimized website experience for users.
PERSONALIZE
# F U T U R E M @ V E R N DA L E T W E E T S
Sean Rusinko SVP Digital Strategy, Verndale
# F U T U R E M @ M I TC H S B R O O K S
Mitch Brooks Senior Research Strategist, Crimson
Hexagon
• Create and improve machine-learning algorithms
• Build proof-of-concept prototypes for internal stakeholders and customers
• Articulate technical positioning to the market
• Explain principles behind features• Developing new ways to analyze and
visualize unstructured data from earned and owned media
RESEARCH
PRODUCTMANAGEMENT
CLIENT SERVICES
# F U T U R E M @ C R I M S O N H E X AG O N
Guen Yi Former VP Analytics Insights, The
Walt Disney Company Head of Analytics and Planning,
Zulily
Utilize social media analysis for:
• Insights and social sentiment immediately after an event and over time
• What’s resonating with consumers and what isn’t – to support marketing and media team
• Who the consumers are• Comparisons to competition
# F U T U R E M @ Z E N M A S T E RC H I
Richard Ng VP, Insights and Analytics, Edelman
Digital
The most common applications of Social Media Analysis at Edelman are:
• To support strategy planning• To inform paid media buying• To optimize content• To assess levels of media coverage • To gauge, where possible, consumer response to
client brands, products, or services
THE PROBLEM OF QUALITY
RED-YELLOW-GREENSentiment – positive, negative, neutral – is often an inaccurate reporting mechanism and usually very basic. Social sentiment often requires further break down and analysis to get an accurate sentiment reading.
Analysis demands human involvement to get accurate results specific to your industry.
# F U T U R E M @ C R I M S O N H E X AG O N
Teaching to the Test
The social science principle of Campbell's law is sometimes used to point out the negative consequences of high-stakes testing in U.S. classrooms:
"The more any quantitative social indicator (or even some qualitative indicator) is used for social decision-making, the more subject it will be to corruption pressures and the more apt it will be to distort and corrupt the social processes it is intended to monitor.”
When do social marketing metrics create the wrong incentives? How is this best avoided?
# F U T U R E M @ C R I M S O N H E X AG O N
THE PROBLEM OF DISPARATE SYSTEMS
INTEGRATION
Social media monitoring platforms fail to integrate with key backend systems creating a disconnect between data transfer and share. Because there is no fluid integration, we are missing pieces of the puzzle.
BENCHMARKINGChallenge of assessing successful social media engagement or campaign when social data is not integrated with other sales, marketing, and advertising data and metrics.
Difficulty of comparing year-to-year due to the growth of social media volume overall and because of the incremental introduction of new channels.
# F U T U R E M @ C R I M S O N H E X AG O N
THE FUTURE: HOLISTIC VIEW
• Analyze across channels• Integrate social media data with sales and marketing data and databases
INCORPORATIONThere is a huge opportunity to incorporate social analytics data into a datacube (CXM/CMS/CRM/ERP/etc.) to allow businesses and organizations to have one view of the customer.
WHAT DO WE SEEK TO INTEGRATE?
Social Channels, Website, CRM, Sales, Paid Media, and/or Customer Service
# F U T U R E M @ C R I M S O N H E X AG O N
# F U T U R E M @ C R I M S O N H E X AG O N
Opportunities – Richard Ng
Key opportunity areas:
• Mapping against benchmark opinion and behavioural data• Focusing analysis on audience behaviour and segmentation• Developing audience profiles based on interaction data• Reducing focus on dashboards that sum metrics vs competitors• More Sophisticated Math• Stronger Frameworks
Opportunities – Sean Rusinko
Social Listening Platforms
USERS
TECHNOLOGY PLATFORMS
CHANNELS & ASSETS
# F U T U R E M @ V E R N DA L E T W E E T S
Customer Experience Management (CXM)
THE FUTURE: INDUSTRY PARTNERSHIPS TO ADVANCE
SOCIAL MEDIA ANALYTICS
ENTERPRISE + AGENCY + TECHNOLOGY
# F U T U R E M @ C R I M S O N H E X AG O N
