http://spiral16.com Internet and social media monitoring can yield valuable insight and actionable intelligence that drives business forward. One of the most common applications for social listening and measurement is brand management, but there's so much more to be gained in so many different areas.
This presentation from Eric Melin of Spiral16, given at the Helzberg Entrepreneurial Mentoring Program (HEMP) Retreat on Nov. 15, 2013, spotlights the basics of social listening and measuring for a number of different uses, including competitive intelligence, industry research, market research, lead generation, customer service, crisis management, and campaign/product/service monitoring. Each practical application has a case study/example to make it easier to apply the concepts to your own business.
There is no one-size-fits all solution for social media ROI, so each company has to take a customized approach based on their own specific goals and objectives. Tying your social media program into the business goals of your company or brand is the foundation for success. Companies today simply cannot survive without metrics, objectives, analytics data and actionable information.
Find out what kind of opportunities there are for your brand, agency, or business in the wide-open field of Internet tracking and social media monitoring.
2. Spiral16 Overview
Spiral16 provides a robust software platform with
customized services for Internet tracking, analysis, and
reporting.
Spiral16 gives companies the key insights they need
from the web and social media to make smarter
decisions and gain a competitive edge.
11/16/2012 2
3. Social Data Drives Business
“Marketing success depends on insight
into, and intelligence regarding,
one’s target audience.”
“Companies today simply cannot survive
without metrics, objectives, analytics
data and actionable information.”
1. Analytics for the CMO: How Best-in-Class Marketers Use Customer Insights to Drive More Revenue,
Aberdeen Group
2. Social Media Metrics: How To Measure and Optimize Your Marketing Investment ,Jim Sterne
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4. Social Data = Essential Insight
Sales and Marketing Alignment:
Collaboration + Cooperation = Peak
Performance
“Without a strong analytics capability to glean insights from both
prior marketing activities and current customers, it is very difficult to
execute these tactics effectively or efficiently.”
Analytics for the CMO: How Best-in-Class Marketers Use Customer Insights to Drive More Revenue,
Aberdeen Group
11/16/2012 4
5. CMOs Use Social Data to Identify Trends
CMOs believe social data can indicate:
83% - Trends or patterns that may impact business.
81% - Consumer demographics/psychographics
80% - Consumer sentiment on products
78% - Influence of individuals or groups on purchase decisions
73% - Consumer sentiment on brand(s) or company
- Chief customer advocate: How social data elevates CMOs, bazaarvoice & The CMO Club
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6. Social Impacts Awareness & Loyalty
CMOs believe that social efforts impact:
- Chief customer advocate: How social data elevates CMOs, bazaarvoice & The CMO Club
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8. Know What To Listen For
Questions that can be answered:
Social and web research yields actionable business
intelligence that will drive business forward.
11/16/2012 8
9. There is no way to calculate
social media ROI with a one-size-
fits-all equation.
Image from glynndevins.com -- and modified
11/16/2012 9
10. Establish a Customized Process
The Only Way to Measure
Performance and Results
It is critical for creating a data-driven view of marketing
results.
“This should be complemented with frequent reports to
stakeholder within the organization, to build a clear
picture of how marketing contributes to the health and
success of the organization.”
- Aberdeen Group 2012 Study
Web Analytics: Marketing Beyond Online Customer Data
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12. Tie Social Listening to Business Goals
You’ve identified your business goals already.
Increase Total Sales Higher Value Per Sale
Reduce Customer Service Expenses Increase Customer Satisfaction
Acquire New Customers Increase Reach
Reduced Cost Per Transaction Introduce New Products/
Increase Qualified Leads Service Enhancements
Encourage Repeat Purchases/ Attract New Employees
Build Customer Loyalty
How can social research help you achieve them?
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13. Your Objectives Drive Listening
Practical Applications
Brand Management There are not
Competitive Intelligence always KPIs for each
Industry/Market Research application, but the
practical insight
Lead Generation
you get from the
Customer Service research will drive
Crisis Management return.
Campaign Monitoring
Product/Service Monitoring
14. Brand Management
Monitor brand names, nicknames, executives
Who is your target audience? Where are they talking online?
Has your brand gone social?
What language are they using? Are they using your marketing language or
creating their own? How can you adapt your language to give them a sense
of ownership?
What is the sentiment surrounding your
brand?
What are the hot issues/topics
surrounding your brand?
15. Brand Management
KPIs & Measurement Opportunities
Measure the reach of your brand messaging.
How many people have you reached?
Fans/followers can only get you so far, because not every fan/follower will
see every post.
Clicks and subscribers show who is reading your content.
Measure the engagement.
Likes and ratings show who approves/endorses your content.
Retweets and shares show who is spreading your content.
Comments and replies show who is engaging with your content.
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16. Brand Management
KPIs & Measurement Opportunities
Identify voices, posts, and sites that are influential about your brand.
Look for patterns in volume and sentiment spikes.
Evaluate this new insight and alter your marketing plans appropriately.
How does this new information fit with your goals?
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17. Brand Management
Oprah’s strategy of producing a lot of
easily-shared Lifeclass Tour multimedia
content and making sure that influential
authors are supplied with backstage
credentials paid off. Her brand owns the
conversation.
Twitter - positive chatter & check-ins.
YouTube - fan videos and brand-shared
News sources and blog results from
“behind-the-scenes” event bloggers and an
Oprah sub-property on the SiriusRadio
website make up the balance of the list.
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18. Brand Management
Online buzz about Oprah's Metro Toronto Convention
Centre appearance was stronger than it was for NYC or
St. Louis.
More people were excited about guests Deepak Chopra,
Iyanla Vanzant, and Tony Robbins than they were about
Bishop T.D. Jakes.
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19. Your Objectives Drive Listening
Practical Applications
Brand Management There are not
Competitive Intelligence always KPIs for each
Industry/Market Research application, but the
practical insight
Lead Generation
you get from the
Customer Service research will drive
Crisis Management return.
Campaign Monitoring
Product/Service Monitoring
20. Competitive Intelligence
Monitor brand/competitor’s branded keywords
Compare Trending Over Time
Find volume and sentiment spikes over time.
Compare your spikes with competitor(s). Are they the same/different?
Why?
How can you adapt to take advantage of something that caused a
positive spike for your competitor?
21. Competitive Intelligence
KPI: Share of Voice
Your brand mentions vs. competitors
How does this percentage change over time?
What is driving these numbers?
Look at the data for your competitors.
What strategies are working for them?
Are other brands engaging/driving more
conversation?
How can you build brand awareness to compete more effectively?
22. Competitive Intelligence
Conversation Analysis
Identify context/causes of volume and sentiment spikes.
Look at the word cloud during the date range of the spike to see what the
hot topics/trends were that caused it.
See what themes develop around your competitors.
Filter results by the date range of the spike. Then correlate dates with
language.
How your competitors positioning themselves?
What language are they using? What markets are they targeting?
Evaluate the language, trends coming from your competitors’ advertising and
marketing.
Is there room for improvement in yours?
23. Competitive Intelligence
Cerner ran competitive intelligence on one of its
competitors.
The prevailing marketing image of competitor as young and hip was
affecting:
• Favorable media coverage in mainstream and health IT press
• High spots in KLAS Healthcare IT Software rankings
Cerner’s online volume was mostly from job postings and financial
reports
• Sentiment was positive, but very “corporate”
• Customers were not talking about Cerner
• Industry pundits puzzled why competitor is “cool” and Cerner is
not
24. Competitive Intelligence
By identifying trends and sites where people talked
about competitor, they learned:
Competitor selling image with cool technology, mode of dress
• Doctors utilize competitor’s software with iPads
• Company representatives don’t wear suits and ties
Competitor using social media to gain buy-in for their software
Online forums and chat rooms mentioning both Cerner and
competitor
• Passionate, opinionated feedback
• Sharing problems, recommendations
25. Competitive Intelligence
Recommendations:
• Develop video as a hip, savvy communication tool
• Commit to a better content marketing strategy, ramp up social
efforts
• Drop formal company attitude, change company dress
• Keep monitoring forums and health-related issues
• Develop a Cerner online community for customers
• Increase customer loyalty, gain customer insight, control
message
26. Your Objectives Drive Listening
Practical Applications
Brand Management There are not
Competitive Intelligence always KPIs for each
Industry/Market Research application, but the
practical insight
Lead Generation
you get from the
Customer Service research will drive
Crisis Management return.
Campaign Monitoring
Product/Service Monitoring
27. Industry/Market Research
Monitor industry-specific keywords, issues
For this type of research, you don’t monitor your brand. Search for
keywords that relate to your market/industry and see how often your
brand terminology comes up.
This research is market-specific and will also see point out how your brand
stacks up in the midst of industry trends.
Find top influencers in your industry/topic and what they care about. Craft
an engagement strategy around this.
See trends/topics within your industry. Learn what people in your industry
are talking about and how they are talking about it. Create campaign
initiatives that speak specifically to that.
28. Industry/Market Research
Study found posts, comments, and pages discussing single-serve
coffee pods and brewers with a focus on:
1. Cost
2. Convenience
3. Taste and flavor
4. Coffee variety
5. Environmental impact
Positive subjects surrounding single-cup
coffee included price, convenience, lack of waste.
The overwhelming negative subject was the lack of variety
compared to traditional or quantity-cup brewers.
29. Industry/Market Research
More Insight:
There is no
authoritative domain
or site for the topic of
single-serve coffee,
but rather a collection
of small sites that are
mostly talking to
themselves.
30. Industry/Market Research
Recommendations:
Go where the customer is online.
Target conversations/ads to conversations trends.
Rather than trying to get conversations started by forcing prospects
to adopt your marketing language, go to where conversations reside
and adopt their language.
Paid or earned content should be positioned on established
lifestyle/living sites where the target demographic already resides
such as Huffington Post, Lifehacker, etc.
31. Your Objectives Drive Listening
Practical Applications
Brand Management There are not
Competitive Intelligence always KPIs for each
Industry/Market Research application, but the
practical insight
Lead Generation
you get from the
Customer Service research will drive
Crisis Management return.
Campaign Monitoring
Product/Service Monitoring
32. Lead Generation
Monitor Terms Your Target Customer Would Use
Build a profile for your
customers.
Monitor “buy” terms, common questions,
pain points, buzz words within your product
category.
Find out what prospects are saying about
your product/service and how it fits into the
industry. Learn what issues are important to
prospects.
Find forums, blogs where people are talking.
Identify those who are researching your
industry.
33. Lead Generation
Goal: Identify possible strategic partners to grow business.
Spiral16 identified five key terms that prospects who need our
platform/services often use when describing their businesses
online.
By isolating the category to corporate websites, we isolate the
strategic marketing language companies are using.
34. Lead Generation
The research also shows:
• Blogs that engage in conversation about social media issues
• Trending topics/buzz to capitalize on in our own content
marketing
• Questions/problems people have with monitoring/measuring
social media for business
• Prospects who are shopping around, asking about social
research solutions
As a result:
• Qualified leads up 56% in one year
• Requests for software demos doubled in one year
35. Your Objectives Drive Listening
Practical Applications
Brand Management There are not
Competitive Intelligence always KPIs for each
Industry/Market Research application, but the
practical insight
Lead Generation
you get from the
Customer Service research will drive
Crisis Management return.
Campaign Monitoring
Product/Service Monitoring
36. Customer Service
Find/Engage With Customers, Offer Assistance
Develop an Engagement Process
Consider transparency, guidelines and regulations, and brand personality.
Be positive, take conversation offline if needed.
Follow up with customers, make sure issues are resolved
Measure efficiency/success by tracking:
Sentiment of customers
Response time by channel, team
Resolution time through social vs. other channels
Customer retention rate through social vs. other channels
Purchase rate through social vs. other channels
Use monitoring to identify positive outcomes, customer satisfaction.
37. Customer Service
2012 MLB All-Star Game held in Kansas City
The primary goal of the Social Media Command Center was to
create meaningful conversations with both visitors to the area for
the event as well as current residents, and act as a “virtual help
desk” or concierge.
• In all, the team filtered 70,000 posts.
• Of those, they read and tagged well
over 30,000 social postings, cataloging
and featuring the best of them on
VisitKC’s social hub.
• By the end of the festivities, 2,100
individuals got hands-on help from a
Command Center volunteer.
38. Customer Service
Kansas City Social Media Command Center
Trend analysis showed that significant positive buzz was created for
Kansas City, Kauffman Stadium, local businesses and museums, BBQ,
All-Star FanFest, and the Social Media Command Center itself.
Helpful links, informative blogs, & fan
photos were shared across the web for 6
days.
Twitter, where most of the engagement was
focused, was a lovefest.
Despite a potentially negative incident at
the game itself, even news sites had a
positive sentiment score of 73%.
39. Your Objectives Drive Listening
Practical Applications
Brand Management There are not
Competitive Intelligence always KPIs for each
Industry/Market Research application, but the
practical insight
Lead Generation
you get from the
Customer Service research will drive
Crisis Management return.
Campaign Monitoring
Product/Service Monitoring
40. Crisis Management
Monitor Names, Products, Services, Execs, etc.
Have a Plan in Place Identify sites/domains and
also influencers who can help
you spread your response in
the case of a crisis.
Learn how they speak and
engage so you can craft your
message accordingly.
When it’s time to respond,
you’ll need these people at
your fingertips.
41. Crisis Management
Engage Strategically Based on Data
During Crisis
Look for sentiment/volume changes. Where is this happening?
Look at language, hot topics and use this to craft response language,
including press release and company statements.
Actively respond using the perspectives you’ve gained from
monitoring.
• Provide solutions, recommendations, or simply apologize and offer
amends.
• Be gracious, not defensive.
Measure sentiment and topics to see where and when crisis turns
around. Use sentiment and volume charts to prove crisis is receding.
42. Crisis Management
Learn From Your Data
Post-Crisis
Measure sentiment and topics to see where and when crisis turned
around. Use sentiment and volume charts to prove crisis is receding.
Find the correlation between company announcements/responses
and the sentiment of the crisis.
Pinpoint where the message
worked best, and where it could
use improvement.
Revise your crisis management plan accordingly.
43. Your Objectives Drive Listening
Practical Applications
For these two
Brand Management applications, apply
the same concepts
Competitive Intelligence
from Brand
Industry/Market Research Management and
Lead Generation Competitive
Customer Service Intelligence and use
language-specific
Crisis Management keywords for your
Campaign Monitoring campaign, product,
Product/Service Monitoring or service.
44. Measuring Success Isn’t Always Hard
Sometimes it’s obvious
when goals are reached.
The most important thing is to:
• Set goals
• Record your results
• Learn from the data
• Improve
45. Better Data. Better Decisions.
www.spiral16.com
Thanks to the Helzberg Entrepreneurial Mentoring Program!
Eric Melin
@SceneStealrEric
@Spiral16