SPEAKER: ASHOK PATRO
Co-Founder & COO of ThoughtBuzz Pte Ltd
As Co-Founder and COO of ThoughtBuzz, a Singapore-based Social Media Monitoring & Analytics Company, Ashok has been involved in cloud-based product development in the social media space, specifically social media monitoring and turning BIG DATA into sensible insights for businesses. His expertise in Social Media Monitoring & Analytics has allowed him to help many brands and businesses craft their Digital Strategies and derive actionable insights through Social Media Listening.
TOPIC BRIEF :
What is BIG DATA? Is it just another buzz word or a defining moment in digital history? Mr. Ashok Patro shared how BIG DATA can enable new tactics, strategies and business models. The past session explored how businesses can establish and exploit real time data analysis and intelligence.
Want to understand the power of social media data and insights, and how you can make these data relevant to your industry and brand?
Talk to us: http://www.thoughtbuzz.net/contact.php
9. PAGE 9
Social Media : Interesting Facts
It is the #1 of all online activities, surpassing email, gaming,
porn
74% of consumers rely on social networks to guide
purchasing decisions
About 57% of companies have acquired a customer via blog,
62% via LinkedIn, 52% via Facebook and 44% via Twitter
The average budget spent on company blog and social
media has tripled in last 3 years
1 million web pages are accessed using “Login with
Facebook”
27 Feb 2014
10. PAGE 10
Social Media Data: How big it is?
There are over 1.15 billion
Facebook users
There are now over 1 Billion
Google+ enabled accounts
There are over 550 million
registered Twitter users and 34%
marketers are using to generate
leads successfully
Pinterest has 20 million active
monthly users
Instagram has 150 million monthly
users
238 million+ total users
27 Feb 2014
12. PAGE 12
Social Media Data: the Enabler
Treat Social Media as a Gold Mine
Don’t Assume what your consumer wants/needs.
Capture everything to avoid blind spots
Focus on quality and not only quantity
Work with real time data
27 Feb 2014
13. PAGE 13
Market research can no longer predict what consumers will like, but SOCIAL MEDIA
DATA does!!!
EMPOWER ACTION
with Social Media Data
Consumers are in
CONTROL
Social Media Data deals with more
radical, unfamiliar changes as
compared to Traditional research.
Monitor
Listen
Gain consumer Insights
Build competitive Intelligence
Act fast
With “Social Media data” play along to
make the best of a digital world that
no one can control
Design accurate marketing
campaigns
Strategize Brand Buzz
Identify buying patters
Social Media Content
Acquire customers
Online Reputation
Management
What can
you finally
do?
We know what “we” want
Social Media Data: the Enabler
27 Feb 2014
18. PAGE 18
BFSI - Key Age Groups (India)
Less than 30 Years
30-40 Years
Greater than 40 Years
Majority of them were
interested in discussions
related to mf’s, sip’s start-
ups, VC funding's & Angel
investors
Majority of them were keen
interested in stocks buzz &
discussions related to short
term investments
Majority of them initiated and
participated in all kinds of insurance,
stocks & mf’s discussions, many people of
this age group were sharing investment
tips & claims settlement issues
50% of the observed
26% of the observed
24% of the observed
27 Feb 2014
19. BFSI – Gender Analysis (India)
Males were almost 2 times more active than females in
posting BFSI related queries & suggestions
67% 33%
PAGE 1127 Feb 2014
24. How to Make Social Media
Data Relevant for YOU?
PAGE 2427 Feb 2014
25. PAGE 25
Approach for Industry specific Analysis
Brand
30%
Consumer
30%
Product &
Marketing
30%
INNOVATION 10%
27 Feb 2014
26. PAGE 26
Approach for Industry specific Analysis
1. Key Topic Of discussion
2. Engagement Rate /Reach
3. Facebook/Twitter Page
Analysis
4. Key Influencing sites
Any New Innovation done within
the industry or the brandLoyalty Switchers Advocates
Product/Service issues
Sentiment Score
Top Influencers
Persona Analysis
Buzz Analysis
Source Analysis
Competitive Analysis
Big Emerging & Neutral
Marketing &
Product
VOC
Voice of
Customer
Brand
Innovation
27 Feb 2014
31. PAGE 31
Social Insights for Financial Sector
Now, let’s look at BFSI as an overview
(all age groups) & bifurcate the
categories into sub- segments to drill
down further
Others
105
Stocks
465
Mutual
Funds
420
Banking
180
Insurance
330
27 Feb 2014
32. 25 July 2013 PAGE 32
Social Insights for Financial Sector
Others
105
Stocks
N 465
Mutual
Funds
N 420
Banking
180
Insurance
330
Investment: Insurance as investment
options
Money : money worth options/
monetary value for insurance segment
Tax : Insurance as Tax saving option
General : Vehicle insurance chatter
Policy/Claims : Insurance chatter
around claims & policies (Life/Health
Insurance were major chatter for claims)
Life : Insurance chatter around life
insurance
Health : Insurance chatter around
health insurance
Investment
24%
Money
17%
Tax
16%
General
16%
Policy/Claims
10%
Life
10%
Health
7%
33. 27 February 2013 PAGE 33
Social Insights for Financial Sector
17%
32% 35%
21%
14% 14% 17%
3%
9% 7%
13%
15% 15% 5%
80%
59% 58%
66% 71% 71%
78%
Stocks
31%
Mutual
Funds
28%
Insurance
22%
Banking
12%
Others
7%
Around 20% of people discussing about insurance finds insurance as a investment instrument, Most of their
discussion were related to insurance investment & returns
14% of the total people discussing about insurance were actually investing or enquiring about insurance
investment because of tax saving benefits
General insurance related discussions were basically claims settlement related and new policy enquiry
Policy & Claims related discussions were mostly complains & settlement related issue, Almost all the comments
observed referred policies as complicated rules & regulations
7%
16% 20% 18% 23%3%
17% 8% 9% 5%
Stocks Mutual Funds Insurance Banking Others
Positive Negative Neutral
34. 27 February 2013 PAGE 34
Social Insights for Financial Sector
26%
19%
36%
15%
4%
CICI Bank HDFC Bank SBI Bank AxisBank BOB
19%
36%
ICICI Bank HDFC Bank SBI Bank AxisBank BOB
26%
19%
36%
15%
4%
ICICI Bank HDFC Bank SBI Bank AxisBank BOB
26%
19%
4%
ank SBI Bank AxisBank BOB
19%
nk AxisBank BOB
Key Findings:
Indian banking still levy stiff paper-works
right from ac opening to monetary
transactions
Many buyers complains were observed
stating no clue about loss of money in
online payment
In the era of E-commerce banking still
requires complicated formalities for
online monetary transactions
ATM withdrawal are still not free, many
people expressed their grievances as
they donate several amount of money
from their salaried ac only for drawing
money from ATM
Indian banking has to be more advance to convene the
smooth & easy flow of money across the nation (especially
small town wherein A cities can transfer funds to B Towns
families without much paper work)
35. 27 February 2013 PAGE 35
Social Insights for Financial Sector
Discussions pertaining to various types of Insurance investment, claims
settlement related, tax saving benefits, experts suggestions & advice
Investment : Around 2 in 10 people discussing about Insurance were enquiring
about various insurance policies from a secured investment standpoint
Money : Adviser & Experts were suggesting various tips to save money through
different insurance plans
Tax : Tax saving policies, and various taxation conventions for insured investments
on surrender before maturity were most discussed topics
General Insurance : Top buzz were around SBI General Insurance recruitment,
general insurance promotions & various vehicle insurance plans
Policy/Claims : 1 out of every 10 people discussing about insurance were either
enquiring, suggesting or complaining about claims settlement & maturity. Mostly
vehicle/ health insurance related claims saw a major –ve chatter as people sign
up insurances without reading the terms & conditions
Life Insurance : Majority of people discussing about life insurance policies,
maturity & claims enquiries were above 40 age group
Health Insurance : Most of the health insurance insured were unhappy with un-
settled claims & hidden policies