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| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 1
Social Listening - Gateway to Innovation
Malcolm De Leo Chief Evangelist @innovationmuse Innovationmuse.blogspot.com
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 2
How to be a Real Time Marketer
Malcolm De Leo
Chief Evangelist @innovationmuse
Innovationmuse.blogspot.com
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 3
POLL #1
How much do you trust social media to help you run your business?
a) A lot
b) Thinking about it
c) Not sure
d) Not so much
e) No freaking way
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 4
POLL #2
As a consumer, how often do you turn to social media to help you make decisions like what movie to go see, which appliance to buy, where to go on vacation etc?
a) Multiple times a day
b) Once per day
c) Once a week
d) Once a month
e) Never
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 5
Social Media Listening’s Business Reality Continues The cultural conundrum
• Consumers trust social data for decisions
• Businesses are lagging in their trust
business
public
Social Media maturity
ado
pti
on
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 6
What is the marketplace’s current balance? The market continues to focus on creating content more than understanding it…
Social Marketplace
Corporate Landscape
Push Content
Pull Data
Insights ROI
Correlation
Engagement Message
Interaction
~30% of Market
70% of Market
Our need to understand only grows as the total volume continues to accelerate…
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 7
Why is pull important?
Social Marketplace
Search for lead user insights
Understand day by day emotion
Evaluate my campaign during and after
Create a 360 view of the problem
Trending Product Innovation
Brand Health Competitive Intel
Product Launch Campaign Tracking
Crisis Management
Risk Management
Use Case Type
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 8
Why is pull important?
Social Marketplace
Search for lead user insights
Have an informed product strategy
Understand day by day emotion
Be proactive and targeted in messaging
Evaluate my campaign during and after
Improve your engagement effectiveness
Create a 360 view of the problem
Use knowledge to respond appropriately
More Targeted
Push
Trending Product Innovation
Brand Health Competitive Intel
Product Launch Campaign Tracking
Crisis Management
Risk Management
Use Case Type
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 9
The How Much vs. The Why?
• How much is about data…why is about insight
• How much tells you its changing…why helps you understand
• How much is what you see…why is about what you believe
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 10
How are social analytics evolving? The days of watching the motion in the ocean are over
Tool Focused use cases measure
changes
• Social Customer Care
• Crisis Mgmt/Issue Tracking • Real Time Analytics • Advertising Effectiveness • M&A Due Diligence • Social Selling/Intent to Buy
• Number of Mentions • Influencer Identification • Number of Conversations • Engagement Rate • Brand Sentiment
Process Focused use cases create business impact
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 11
Integrating Social Listening into your organization We spend too much time picking a tool and forget it is only the first step
Tools Process Culture
How can I get my arms
around it?
How do I get them to believe
in it?
How can I get
everyone to do it?
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 12
Why Incorporate Social Listening into NPD
• Delivers more accurate and meaningful emotional data
• Fills in information gaps
• Enables you to test what you think you know
• Provides the online equivalent of “living with the tribe”
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 13
Get Forward-Facing Data
• Traditional approach: use post-mortem data on sales numbers, market size, historical financials
• Social listening monitors and measures responses to your messaging
• Use netnography to listen to individuals who are passionate about the subjects you’re researching
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 14
Make Real-Time Course Corrections
• Collapsing product cycles require rapid course corrections based on real-time data
• Social listening supplies real-time data
• Example: We learned our target customers behave like fashion buyers, wanting new products and product extensions
• Course-corrections during launch can optimize success of the launch and ultimately the product
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 15
Best Practices for Incorporating Social Listening
• Stop thinking you’re in the “transaction” business
• Look for emotional insights and ways to deliver value across the customer journey
• Identify and deliver more of what people love
• Search for keywords—Use Google AdWords keyword generator
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 16
How Not To Use Social Listening in NPD
• Don’t use it for risk management
• If you do, you won’t find insights that drive better design inputs
• Be brave—Look for opportunities
• Used properly, it helps deliver great products—the best possible form of risk management
• Don’t drop it into stage gate as it’s not always linear
• It’s not a POM activity
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 17
POLL #3
How are you using Social Analytics today?
a) For product launches and new ideas
b) For campaign management
c) To hear what is being said about competitors
d) Other
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 18
Case Study
Nicholas J. Webb Inventor, Author
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 19
Love
• Super fun
• I’m addicted to them
• Love the designs
• Great packaging
• Perfect gift for birthday parties
• Fun colors
• Easy
• Fan
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 20
Hate
• Cost
• One time use just a three-dimensional puzzle
• Square You can’t make arches
You can’t make organic or radial structures
Limited
• Hard to take apart
• Limited connection points (Two channels)
• They don’t teach anything except how to read a step-by-step instruction manual. We don’t need a generation of replicators we need innovators
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 21
They don’t teach anything except how to read a step-by-step instruction manual. We don’t need a
generation of replicators we need innovators –
Develop an educational community and product specific educational material to teach iterative
ideation, social collaboration and other key educational targets
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 22
One time use just a three-dimensional puzzle
Develop a open ended system that makes
the play experience dynamic
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 23
Square • You can’t make arches – design something that
creates arches • You can’t make organic or radial structures
include radial structures • Limited – increase connection points from two
points of connection to 10 points of connection
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 24
Hard to take apart – make them so they’re easy to take apart
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 25
Limited connection points (Two channels) – go from two channels to ten channels
of connection
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 26
Cost
Can’t compete with Legos vertical integration and manufacturing so invent
a product that is non-terminal
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 27 #SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 28
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 29
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 30 #SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 31
Using Social Listening to Develop Hänz
• Our theory: We can use social listening to replace VOC, CRM and conventional market data to drive design inputs
• Our belief: This approach can result in tens of millions of dollars of added value for enterprises
• We used social listening to drill deep rather than wide
• Researched LEGO to find what consumers like and dislike, trajectory of usage, other factors
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 32
Lower Cost for Finding Insights
• Even “new” yearly studies are rear-facing
• Studies can cost $10,000 to $15,000
• Represented half our costs on previous projects
• Principal cost-saving measure: Not buying stale studies
• Result: Reduced cost for finding insights by 43 percent
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 33
Hitting a Home Run with Hänz
• Educational toy line—developed based on social listening insights
• Launched in 2013—One of the most award-winning toys in the industry
• Projections for $8 million in revenue in 2015
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 34
Developing Blended Value
• Taking a risk-centric approach only gives you historical data, leading to me-too products
• Use social listening to start with a clean slate for your design process
• Ask “What’s going to supplant the widget?”
• Deliver blended value—we provide STL files so customers can print their own devices on 3D printers
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 35
A New Mandatory Core Competency – Why?
• Social listening—a more direct path to your objectives
• Verify assumptions, listen to the online dialogue within your space
• Find opportunities before the competition
• Mitigate risk by creating successful products
• Developing a skill set around social listening and better insights—now a mandatory core competency
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 36
Shorten Time-to-Design
• Before: Spent three months using traditional techniques to formulate design inputs
• Before: Used VOC, retail surveys, etc. to find all the data points we could
• Before: Bought 60 percent more of our data—canned, stale market surveys
• Now: Use social listening to bring time-to-design down to six weeks for Hänz
Result: 63 percent reduction in time to give design inputs to engineering
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 37
The Future of New Product Development
• Customer journey focus developing layered and dynamic value across each and every customer touch point
• Continuous quality improvement through continuous social analytics
• Chief Listening Officer (CLO)
• Actionable versus conceptual insights
• The ultimate tool to drive breakthrough and disruptive innovation
• The new core competency for NPD executives
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 38
Questions?
#SocialListening #SocialData
| Confidential | © 2012 NetBase Solutions. All Rights Reserved Worldwide. 39
Special Offer – Free* LIVE Pulse™ for Brand
• Contact us for a 30 min meeting. • Phone: 1.855.762.6764 • Email: [email protected] *For qualified companies.