Upload
brian-cavoli
View
2.915
Download
0
Embed Size (px)
DESCRIPTION
Social media has matured beyond early adopters to earn a place in mainstream marketing. Cymfony sponsored this Aberdeen Group study to learn how “best in class” companies are using social media monitoring and analysis to improve their business results.
Citation preview
1
Lessons from the "Best- in-Class“Generating Business Results from Social Media
March 12, 2008
2
Introducing the Presenters
Jim NailChief Strategy & Marketing Officer
TNS Media Intelligence/Cymfony
Jeff ZabinResearch Fellow, Customer Management
Aberdeen Group
3
Influence 2.0TM
Webinar Series
• This webinar is the latest in a series of educational webinars with to
help companies harness Influence 2.0TM
• Influence 2.0 education materials help you build the business case and organizational support
• “Social Media in Business” Facebook group connects to your peers for further learning
• Cymfony helps you understand and manage this new dynamic of consumer communications
4
Please submit your questions in
the Q&A area in lower right
corner of your Webex interface
5
Generating Business Results with Social Media
• Social media has earned a place in mainstream marketing, but it is still emerging so formal business practices are developing
• This webinar shows what you can learn from the “Best-in-Class”
• New Cymfony study finds that most companies are at the experimentation stage with social media
Download This Report at www.SocialMediaInBusiness.com
6 • © AberdeenGroup 2008
A Brief Introduction“A reliable pointer to the way marketing is developing.”- The Financial Times
“The best first stopping place for gaining insights into the new world of marketing.” - Philip Kotler
“A plethora of strategic insights.”- Marketing Advocate
“Required reading.” - DestinationCRM
“Points CMOs in the right direction.” - Marketing News (American Marketing Association)
“Anyone still sitting on the fence ought to read this book.“- Phil Condit, CEO, Boeing
“Written for real managers in real business.”- Jack Greenberg, CEO, McDonald’s
“An excellent, customer-focused framework.” -Pat Ryan, CEO, AON
“A thought-provoking yet practical entry point for senior managers.”- Editors, Amazon.com
7 • © AberdeenGroup 2008
Social Media Monitoring and Analysis
Influence the Influencers: The Role of PR Agencies in Social Media
Mar 04, 2008, Chief Marketer, By Jeff Zabin
Social Media Monitoring and Analysis: Call It What You Will
Dec 18, 2007, Chief Marketer, By Jeff Zabin
In Brand-Monitoring Solutions We Trust
Nov. 29. 2007, CRM Buyer,
By Jeff Zabin
8 • © AberdeenGroup 2008
Research Preview and Survey
9 • © AberdeenGroup 2008
InterviewsInherent in the power of Web 2.0, the
emergence of online communities, and the transfer of power from big, centralized command-and-control
structures like corporations to large groups of disseminated individuals like
customers is the need to move from push information to pull information.
Matt Smith, Vice President, Customer Insight
Both the customer you serve well and the
customer you underserve have the loudest voices in
social media.
Sean O'Driscoll, General Manager of Community
Support Services
We monitor social media because it provides
unsolicited and unbiased consumer opinions about our products and brands in real
time.
A lot of social media tools do a great job of telling you
what’s being said and who’s saying it. What we
really want to know is who’s listening to the conversation and how does it permeate
outwards.
Christine Stasiw Lazarchuk Director, Global Market
Research
Online dialog is a good way to get feedback and understand how consumers feel about our brand and to get suggestions
for our business.
Adam Brown Director, Digital Communications
Cathy Halligan, Chief Marketing Officer
Social media monitoring enables us to track how our company is
being portrayed. It’s a barometer we use to determine the viral
spread of our messages and if our tactics are working.
Ed Garsten, Manager, Electronic Media Communications
10 • © AberdeenGroup 2008
PACE Methodology
11 • © AberdeenGroup 2008
Top Pressures
Source: Aberdeen Group, January 2008
19%
21%
26%
27%
50%
0% 10% 20% 30% 40% 50% 60%
Need to develop newproducts and services
Need to gaincompetitive intelligence
Need to increase returnon marketinginvestment
Need to improvecustomer satisfaction
Need better consumerinsight
12 • © AberdeenGroup 2008
Top Actions
Source: Aberdeen Group, January 2008
29%
36%
40%
49%
0% 10% 20% 30% 40% 50% 60%
Align social mediamonitoring capabilities
to overall businessobjectives
Build social mediameasurement into
marketing campaignsand brand promotions
Maximize marketingcampaign effectiveness
Improve ability torespond to customer
wants and needs
13 • © AberdeenGroup 2008
Who Uses Social Media Insights
Source: Aberdeen Group, January 2008
9%
25%
26%
31%
32%
47%
51%
51%
55%
0% 10% 20% 30% 40% 50% 60%
New group designed for this purpose
Customer Service
Interactive Research
Cross-functional Group
Product Development
Market Research
Public Relations
Interactive Marketing
Product Marketing
14 • © AberdeenGroup 2008
Metrics for Determining Best-in-Class
Time to marketing information
Customer satisfaction
Actionable insights derived from social media monitoring and analysis
Ability to identify and reduce risk
15 • © AberdeenGroup 2008
Maturity Class Findings
16 • © AberdeenGroup 2008
Top Capabilities (Process)
16%
13%
18%
26%
24%
31%
42%
48%
65%
0% 10% 20% 30% 40% 50% 60% 70%
Formalized process fordetecting potential
threats to the brand('Early warning system')
Formalized process foranalyzing consumer-generated content
Formalized process formonitoring consumer-
generated content
Best-in-Class
Industry Average
Laggards
Source: Aberdeen Group, January 2008
17 • © AberdeenGroup 2008
Top Capabilities (Organizational)
19%
23%
24%
24%
34%
28%
34%
35%
43%
52%
52%
56%
0% 10% 20% 30% 40% 50% 60%
Centralized data repository
Dedicated operations resources (i.e., budgetallocation)
Dedicated personnel devoted to social mediamonitoring
Cross-functional resource commitment fromdifferent departments within the organization
Best-in-ClassIndustry AverageLaggards
Source: Aberdeen Group, January 2008
18 • © AberdeenGroup 2008
Top Capabilities (Performance Measurement)
9%
16%
21%
20%
18%
19%
31%
32%
34%
38%
50%
70%
0% 10% 20% 30% 40% 50% 60% 70% 80%
Defined metrics formeasuring new product
developmentopportunities
Defined metrics formeasuring the value of
market research
Defined campaign andpromotion analysis
metrics
Defined metrics formeasuring campaign
and promotion success
Best-in-Class
Industry Average
Laggards
Source: Aberdeen Group, January 2008
19 • © AberdeenGroup 2008
Year-over-Year Improvement in Key Metrics
13%
11%
19%
20%
44%
40%
46%
48%
72%
76%
83%
84%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Timeliness of MarketingDecisions
Ability to PredictCustomer Behavior
ROMI
Customer Retention
Laggards Industry Average Best-in-Class
Source: Aberdeen Group, January 2008
20 • © AberdeenGroup 2008
Active vs. Passive Engagement
50%
50%
34%
66%
16%
84%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90%
Passive Engagement:Our company only
monitors andanalyzes consumer
conversations; we donot contribute to the
conversations.
Active Engagement: Inaddition to monitoring
and analyzingconsumer
conversations, ourcompany contributesto the conversations.
Best-in-Class
Industry Average
Laggards
Source: Aberdeen Group, January 2008
21 • © AberdeenGroup 2008
Active Engagement Yields Improved Performance
30%
50%
30%
50%
44%
56%
57%
57%
44%
57%
62%
62%
60%
62%
75%
76%
0% 10% 20% 30% 40% 50% 60% 70% 80%
Ability to Identify andReduce Risk
Customer Retention
Actionable InsightsDerived from Social
Media Monitoring andAnalysis
Customer Satisfaction
Rarely Post Occasional Posts Regular Posts Frequent Posts
Percentages indicate the number of companies that improved performance in key metrics.Source: Aberdeen Group, January 2008
22 • © AberdeenGroup 2008
Recommendations Laggards
Accelerate the adoption of social media monitoring and analysis capabilities.
Define and measure key social media metrics. Dedicate personnel and resources to social media monitoring and
analysis. Industry Average
Develop formalized processes for monitoring and analyzing consumer-generated content.
Improve marketing decisions by devoting resources to market research and social media monitoring and analysis.
Best-in-Class Shed the reliance on manual search processes. Implement defined campaign and promotion analysis metrics.
23
Please submit your questions in
the Q&A area in lower right
corner of your Webex interface
24
Keep the Discussion Going
Join the DiscussionOn Facebook
Discuss these issues with others marketers around the world in our
new Facebook group
Join Today!
www.SocialMediaInBusiness.com
Jeff [email protected]