Download ppt - Social Media Monitoring Oct 09

© 2006 Confidential | intelligent marketing & technology solutions

Social Media Monitoring - Key to understanding

your customers without investing in expensive Market

Research!Hardy Alexander, General Manager Regalix India

October 14th, 2009

Presenter: Hardy Alexander

General Manager, Regalix India

Over 17 yrs experience in Sales & Marketing across various industries such as Manufacturing, Logistics & Supply Chain and Digital Marketing

Vast experience of Business Development across global markets, especially with start up projects

Currently responsible for managing the Bangalore branch office as a profit center

Qualification: Masters Degree in Marketing and an Engineering Major in Metallurgy

© 2006 Confidential | intelligent marketing & technology solutions 2


DefinitionSocial Media Monitoring – Why is it

important?Social Media Measurement ProcessManagement Buy-in – Next Steps?Case Study – Banking SectorAbout Regalix

Social Media Monitoring

Getting a Better Understanding: Definition

Media Monitoring is the activity of monitoring the output of the print, online and broadcast media.

The monitoring of online consumer sources such as blogs, forums and social networks is more specifically known as Buzz Monitoring or Social Media Monitoring.

Buzz monitoring is the keeping track of consumer responses to commercial services and products, to establish the marketing buzz surrounding a new or existing offer.

“It is also comparatively inexpensive compared to other market research tools”.

© 2006 Confidential | intelligent marketing & technology solutions Source: Wikipedia 4





Social Media Landscape: Explosive Growth

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US Marketers Plan for Online Marketing Budget in 2009

© 2006 Confidential | intelligent marketing & technology solutions Image Source: Permission TV, Dec 2008 7

Social Media Monitoring: Why is this Important?

Consumer Opinion can:Create a new series of metrics that tracks your brand’s

performance. For Example, so what if your banner campaign flopped? You might be the most

discussed brand on Twitter or YouTube.

Unprompted opinions tend to be more sincere. New truths will emerge from this raw data and hopefully new opportunities as well.

Instant feedback on marketing campaigns Does before and after testing get any faster?

Monitor people’s thoughts on your competitors.

“Watch what your investors might be discovering about your brand so you can fix problems before they become an issue.”


Are Companies Adequately Measuring Social Media Initiatives?

© 2006 Confidential | intelligent marketing & technology solutions Source: MarketingProfs.com, 2009 9

Social Media: Tough to Measure?

“It may be simpler than you think.”

Attention: The amount of traffic to your content for a given period of time.

Participation: The extent to which users engage with your content in a channel.

Authority: The inbound links to your content.

Influence: The size of the user base subscribed to your content.


Social Media Monitoring: How to Approach?

“Here are a few ways to consider measuring Social Media ROI for your business”






Sample: Social Media Measurement Process


Define what is trying to be accomplished and how we’ll know if we have succeeded

Online social strategy and insight and optimization approaches to achieve goals

Enumerate social tactics and measurement establishment methods for program

Implement and launch program ensuring proper execution and accurate performance data collection

Synthesize social media performance drivers and identify actionable opportunities for program adjustment

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Sample: Social Media Metrics Framework

Goals Objectives Metrics

Deepen relationship

with customers

• Achieve a critical mass of audience through social media

• # of advocates (Fans, Followers, Authors)• # of comments posted

• Encourage ongoing interaction with the brand

• Comments / Advocates• Advocate influence profile

Learn from the

community

• Uncover common themes among interactions

• Rank of topics discussed• Decipher positive vs. negative sentiment

Drive Purchase

intent

• Persuade engagement with website content and utility

• Leads to ecommerce partners• Retail locater results activity• Product brochure download


Types of Activities: Map measurement objectives to project or business goals

Identify specific key performance indicators (KPI) that align with objectives

Establish performance benchmarks or targets to gauge success

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Sample: Social Media Analysis Construct


Pillars of Social Media Measurement

Reach Discussions Outcomes

Quantity

Scale and Activity of

the fan base

Quality

Where on the social Web

discussions about brand

occurs

Topics

What are authors on the social

Web talking about in

terms of a brand or its

product attributes

Sentiment

Adding value to the

audience and cultivating

relationships through

conversation can influence perceptions

Site Traffic

Site Engagement

acts as a proxy for purchase intentions

Purchase Intent

Leads or purchases form the

most relevant

aspect to the brand

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Sample: Social Media Insight Tools and Data Sources


Centralize all publicly accessible discussions across the social Web

Provides insight into a brand’s Web site visitor behavior

Provides access to key social insight activities not readily available in the mainstream ELP

Semi-automate the process of deciphering the meaning of social comments

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Social Media Measurement Process: Deployment

Conduct ‘Quality Assurance’ (QA) of data collection methods

Validate performance reports are complete and accurate with expectations

Build data infrastructure needed by aggregating multiple data sources


Social Media Measurement Process: Optimization


Evaluate the program performance against the KPIs

Diagnose drivers of performance to date

Identify opportunities for program enhancement by developing a holistic picture of social activities and their impact

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What Next?

“ROI = (Gains – Investment Costs) / Investment Costs”

Is that it?


The Magnitude of Change One billion people are online – expected to double by 2011 Every Day 500,000 new users come online for the first time Content is exploding

The Value of Personal The move from ‘objective’, fact-based, third party reporting and

commentary to individual, ‘subjective’ and ‘crowd sourced’ perceptions is very powerful

Connecting with Customers Since when did any business not want to connect with its customers?

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Case Study: World’s Leading Bank

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Media Monitoring Activities Competitor Product Mapping (Loans, Interest Rates, etc.) Tracking customer complaints/feedback on product/services Monitoring both +ve & -ve conversations about the company Tracking % share of social media conversations vs. competitors Identifying forums with most banking discussions Identifying most talked about category (Loans, Insurance, etc.) Consolidating news on banking/financial sector Landscape monitoring (Competitor banner ads)

Case Study: Client Benefits

ResultsIdentified key product issuesHelped address customer complaintsIdentified key customer themes to create messaging

LeverageExpansion of Search Key Words to improve lead volumeIncrease banner ad click-through by better targetingTweak product messaging

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About Regalix

Full-Service: Digital Marketing & Technology

Talent: Leadership, Advisory, 150+ Team

Customers: Fortune 500 and Venture-Backed

Verticals: Retail, Hi-Tech., Finance, Healthcare

Global: HQ in Silicon Valley, 4 Offices

Recognition:

28© 2006 Confidential | intelligent marketing & technology solutions

Domain Expertise

UCLA

xignite

ICICIBANK


If you have any questions about Social Media, Twitter, Facebook, and Digital Marketing, please contact Brendan Farnell: [email protected]

Regalix Social Media Jump Start Plan

Service Contact

Our marketing practitioners will analyze your current marketing program and business model, and give you a comprehensive social media strategy tailored to your specific needs – The plan will include objective, tactics and outcome expected.

Please contact:Namrata Kumar

[email protected]


Thank You


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