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By Dr. Natalie Petouhoff @drnatalie
www.drnatalienews.com/blog
Real Social Media Monitoring Case Studies
Demystifying the ROI of Social Media
2
Agenda• Look at real case studies
• Set-up a social media measurement program
• Calculate business impact & ROI
@drnatalie
• Learning is the desire to discover new thingsWe are amazed by new things…
@drnatalie
•
@drnatalie
It’s the new shiny
object
And Social Media?
@drnatalie
But the amount of information
– can feel like an insurmountable blur
@drnatalie
It can generally be useless
@drnatalie
Today’s goal is to…Provide…
• Marketers• Brand Managers• Product Managers• Consumer Insights Teams &• Market Research Professionalsw
An understanding of the benefits of:
• Having deep, real-time insights• Using insights to make business
decisions &• Being able to be an invaluable
resource to CEO- suite
@drnatalie
ssss
To TAKE THE
CHAOS TO
ORDER
Using context
@drnatalie
9
Business As Usual
Executives want to know what the business value
of social media is
@drnatalie
Misconceptions of ROI
• That’s funny• But ROI is not obvious to everyone• And your boss would like a number
@drnatalie
You may have heard…
“Would you calculate the ROI of your mom or your pants?
Then why would you calculate the ROI of social media?It’s obvious!”
http://www.flowtown.com/blog/what-is-the-roi-of-your-mom
@drnatalie
Misconceptions of ROI
“ROI is too difficultbecause I’m not
a “math” person.”
@drnatalie
Misconceptions of ROI…There’s a change in metrics!!
• We have 500 more “Likes”• 10X click-thru rate on “Buy Now” button
• $5M in annual support savings & sales advocacy• Viral videos increased company sales +700%
• Social microsites secured 1,000,000 fans and a 10% increase in same-store sales
E
I have an ROI!!e
Note to self:Metrics are necessary…
But they are not ROI
@drnatalie
Real-world Examples
@drnatalie
Analyzed online conversations:• Their brand• Key competitor
Ran nat’l ad campaigns & wants to understand:• Effectiveness of messages and • Drivers of consumer purchase intent
Case Study: Major Insurer
Advertising Effectiveness & Competitor Evaluation
@drnatalie
Insurer Ad Effectiveness
• Insurer’s ad campaign is liked
• Didn’t generate conversation about buying or switching insurers
@drnatalie
Insurer Ad Effectiveness
• Insurer’s ad campaign is liked
• Didn’t generate conversation about buying or switching insurers
• Competitor ad campaign is more divisive
@drnatalie
Insurer Ad Effectiveness
• Insurer’s ad campaign is liked
• Didn’t generate conversation about buying or switching insurers
• But spurs a conversation trend related to purchasing
• Competitor ad campaign is more divisive
@drnatalie
Conclusion of social media monitoring
• Both campaigns generate healthy “buzz”
• But positive sentiment doesn’t reflect intent to purchase
• Using context avoids misinterpreting positive sentiment for a social buying gesture- intent to purchase
@drnatalie
ROI of social media monitoring
ROI = Benefits - Costs x 100 = Percentage Return on the Investment Costs
What is the cost?• People- to do the analysis
• Process- process to compile the information
• Technology- social media monitoring tool
What is the benefit? • If the commercial drove sales? • Number of leads? • What is a lead worth?• Number of lead conversions? • What’s a sale worth?
@drnatalie
Case Study: Craft Company
Product Development & Marketing
Wants to understand:• What topics dominate craft-related conversations?• Is marketing having the desired effect?• What’s lacking in the product line and accessories?
@drnatalie
cccccccccc
Identified New Product Opportunities
Discovered opportunity to develop more male-centric product line & accessories
Consumers’ expressed strong desire for:
• More & better supplies & accessories
• Improved access to purchase those accessories
@drnatalie
• In-house Research • Quickly and cost effectively
identifies new product & market opportunities
• Prompts development of new product accessories
• Enables additional sales• Expands market share
• Marketing • Gained increased confidence
leveraging social-media• Confirmed effectiveness of current
messaging and promotional approach
Conclusions of social media monitoring
@drnatalie
ROI of social media monitoring
ROI = Benefits - Costs x 100 = Percentage Return on the Investment Costs
What is the cost?• People- to do the analysis
• Process- process to compile the information
• Technology- social media monitoring tool
What is the benefit? • What does it cost the company to go to market
with a product that isn’t what customers really wanted?
• What would this type of market research normally cost the company?
• How long would it normally take to get that kind of feedback? What’s the general cost for product dev to launch a product?
• What’s the value of fnding a new product to provide their market?
• What was the value in revenue of the new products/ accessories?
• What’s the value of key messaging that works? Higher lead conversation rate?
@drnatalie
Case Study: Medical Device for Diabetes & Insulin
Product Launch Marketing
• What core messages will resonate most
with these consumers?• How do patients discuss the complexities
of treatment & control?• What is the significance for the new
product launches?
Wants to understand diabetes & insulin:
@drnatalie
Lifestyle
Consumers’ Concerns
Top Conversations
Lifestyle
TreatmentSuccess
Support
Device comments?
LOWER
@drnatalie
Opportunity for brand to: • Get more engaged• Become trusted-partner• Create a online Community for
• Advice• Recommendations• Shared-support
Conclusions of social media monitoring
@drnatalie
ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the benefit? • What’s the value in knowing what to put the emphasis of
content online?• I.e.., to create an editorial calendar that has
content that specifcally addresses why people might not use their medicine
• And which means that don’t feel as well and they don’t live as long or buy the medicine- which affects sales
• What is the value of becoming a trusted resource for patient concerns? Enhanced brand trust?
• Did the online community:• Deflect any calls to the call center?• Increase the efciency or effectiveness of the calls? • Did the company use the content in the
community to update their FAQs or knowledge base which helped self-service?
What is the cost?• People- to do the analysis
• Process- process to compile the information
• Technology- social media monitoring tool
@drnatalie
Case Study: Healthy Snacking & Kids
Campaign Planning: Product Launch & Marketing
Wanted to know the nature of online conversations:
• Concerns parents have providing kids a healthy diet
• What factors drive purchase decisions and habits?
@drnatalie
“Healthy” in Kids Snack Foods: More Effectively Resonate
with Consumers
Nutrition
AllergiesTop
Conversations
Convenience
Taste Not as High
@drnatalie
Opportunities for Brand:• Better launch messaging • Product packaging• On-going campaign messaging
Conclusions of social media monitoring
@drnatalie
ROI of social mediaROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the benefit? • What’s the cost of market research?• Focus group of 12 people = 15K • How many would you need to do to get
the same volume of content?• 12 x $15K = $180,000• What’s the value of targeting the
message for a campaign?• What’s the value of being able to run an
AB test of taste vs. allergies to see which one really gets the most responses?
ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the cost?• People- to do the analysis
• Process- process to compile the information
• Technology- social media monitoring tool
@drnatalie
How to Set-up A Social Media Measurement
Program
6. Hone the analysis / teach the system7. Analyze the information8. Create appealing presentation of data9. Present information to stakeholders10. Take action on the data & repeat!
@drnatalie
How to Monetize FacebookWith Social Commerce
By Dr. Natalie
1. Get executive buy-in & support2. Choose Staff 3. Determine your business goals
• Product Development• Product Launch• Product Marketing…
4. Choose a social media monitoring system5. Start listening to online conversations
Wayne St. AmandVice President, Marketing
SOCIAL MEDIA IS EVERYWHERE, AND EVERYONE IS USING IT.
WE ANSWER THE QUESTIONS.
1.75 BILLIONPOSTS PER
WEEK
100+ BILLIONPOSTS TO DATE
250+ MILLIONPOSTS PER DAY
MASSIVE OPPORTUNITY NOT FULLY LEVERAGED BY MOST
• Social media is the largest source of unfiltered
information ever available about how
consumers truly think and feel
• The vast majority of companies have yet to
take advantage of this intelligence to
influence their business decisions
Achieving Social Intelligence
The management and analysis of customer data from social sources, used to activate and recalibrate marketing and business programs.
SOCIAL INTELLIGENCE CREATES ACTIONABLE INSIGHTS
True Social Intelligence Delivers• Consumer insights to
drive business success– Greater marketing
effectiveness– On-target product
planning– Deeper competitive
insights– Understand purchase
triggers
However, most of today’s tools do a terrible job
of helping you achieve true Social Intelligence
MOST SOCIAL MEDIA MONITORING IS BROKEN
Keywords and semantics don’t work well in social media
• Traditional tools lack the ability to understand context
• A computer cannot replace human judgment
• Human analysts cannot scale or provide consistency
• Predefined rules cannot support the dynamic nature of the social media conversation
• Surface-level monitoring lacks accuracy and deep insight
NLP Semantic
SearchManual-coding
Keyword Sentiment Monitoring
39
THE CRIMSON HEXAGON FORSIGHT® PLATFORM
ScalableAccurateReplicable
A REVOLUTIONARY APPROACH
ContextNuance
Judgment
Posi
tiv
eN e g a t i v e2 3 %
66%
Major Automotive Brand
SENTIMENT ALONE IS INCOMPELTE
102,784 mentions
11%
Neutral
ANALYTICS BEYOND SOCIAL
Customer
Feedback
Market Research
Social Web
Pages
PROPRIETARY ONLINE
GLOBAL CONVERSATION
صباح الخير
Grüßgot
早上好
hej
bonjour
Γεια σουselamat pagi konbanwa
안녕하세요
zdravstvuyte
merhaba selam
boas
sawa dee-kanamaskar
ADDITIONAL RESOURCES:
Request an Online Demo: http://www.crimsonhexagon.com/products/request-a-live-demo
Customer Case Studies:
http://www.crimsonhexagon.com/customers/#casestudies
Overview Video:http://www.crimsonhexagon.com/products/overview-video/
Data Sheets & White Papers:http://www.crimsonhexagon.com/products/whitepapers/