Crafting Insightful In-house Data Blends

CRAFTING INSIGHTFUL  
IN-HOUSE BLENDS
Shifting How We Approach Social Data
Chris Greenough
Head of Strategy, Asia
29/05/2015
#SOCIALPERCOLATOR

SOCIAL DATA IS KEPT AT ARMS LENGTH
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
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DIGITAL DATA IS KEPT AT ARMS LENGTH

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THE GOAL: INTEGRATED BUSINESS
INTELLIGENCE IN REAL TIME
Social Media Web Analytics
Business
Customer Data Revenue Data

YOU CAN
START TODAY!
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:)

LET’S REMIND OURSELVES WHY WE
USE SOCIAL MEDIA IN THE FIRST PLACE

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1. TO COMMUNICATE OUR BRAND TO OUR CONSUMERS
Brand & Product

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2. TO OFFER CUSTOMER SERVICE
Customer Service

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3. TO DRIVE GROWTH
Growth

ATTRIBUTION MODELING IS A WAY
WE CAN RECONCILE CHANNEL EFFECTIVENESS

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GOOGLE MAPS THE CUSTOMER JOURNEY BY
ATTRIBUTION TO ONLINE SALES
Social Generic Paid
Search
Display Click
Referral
Organic Search
Brand Paid
Search
Email Direct

Source: McKinsey&Company, 2012
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BUT THE CONSUMER JOURNEY IS NOT LINEAR
Active Evaluation
Moment
of
Purchase
Loyalty Loop
Post-purchase Experience
Initial
Consideration
Set
Trigger
Information Gathering, Shopping
Ongoing Exposure

THE JOURNEY IS NOT LINEAR
AND ATTRIBUTION DOESN’T TELL US “WHY?”
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ATTRIBUTION LINKS A CHANNEL TO AN OUTCOME
Social
Media
Sale

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CORRELATION SEEKS RELATIONSHIP BETWEEN A
BEHAVIOUR AND AN OUTCOME
Relationship???
Social
Behaviour
Sale

LOOKING FOR CORRELATIONS MAKE US
ASK BETTER QUESTIONS
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Does an increased response
rate lead to decreased call-
center volume and costs?
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Am I a
“Socially Devoted” brand?
Are my fans engaging
with my content?
Does an increase in interactions
affect my sales?

MAKE A …………
IN HOW WE MEASURE OUR EFFORTS ON SOCIAL MEDIA

SO HOW?
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The social science that seeks to describe
the factors which determine and affect
the production, distribution and
consumption of goods and services.
SOCIAL MEDIA ECONOMICS

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THE 4-STEP SOCIALNOMICS PROCESS:
Hypothesize

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THE 4-STEP SOCIALNOMICS PROCESS
Hypothesize
Measure &
Validate

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Hypothesize
Measure &
Validate
Report

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Hypothesize
Measure &
Validate
Report Act

OK, BUT STILL.. SO HOW?
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4 HYPOTHESES
APPLIED TO MALAYSIAN BRANDS
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SOCIAL MEDIA DATA
PUBLIC FINANCIAL DATA
WEB ANALYTICS DATA

If you have an online store, you might wonder…
If I launch a product on social
media, how will that impact
my sales?

Source: Social Bakers & Google Analytics
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MONTHLY INTERACTIONS & ADD-TO-CART
1 2 3 4 5 6
Total Interactions Add To Cart
+ ROI + ROI

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INTERACTIONS & ADD-TO-CART BY TIME OF DAY
1
Interactions Add To Cart
2 3 4 5 6 7 8 9 10 11 NO
ON
13 14 15 16 17 18 19 20 21 22 23 24

INTERACTIONS BY TIME OF DAY BY CUSTOMER SEGMENT
1 2 3 4 5 6 7 8 9 10 11 NO
ON
13 14 15 16 17 18 19 20 21 22 23 24
Professionals Teens Moms

DEFINE AN OUTCOME AND EXPERIMENT
ESTABLISH A VALUE PER INTERACTION METRIC
LOOK FOR LEVERS TO INCREASE IT
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Will investing in better online
customer service result result in an
increase in sales?
If you are in sales, you might ask..

Source: Social Bakers & Financial Reports
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QUARTERLY COMMENTS & ARPU GROWTH
2 3 4 5 6 7
Comment Growth ARPU Growth

Source: Social Bakers & Financial Reports
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CAN WE PLAN RESOURCES AHEAD OF TIME?
2 3 4 5 6 7
Δ Comments Δ ARPU

EXAMINE YOUR PRODUCT LAUNCH CYCLES
USE SOCIAL AS SALES PLATFORM
OPTIMISE RESOURCES BASED ON DATA
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Since social media is digital, it’s a
cheaper customer service channel
– right?
If you are in operations, you might curiously assume…

Source: McKinsey&Company, 2008
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THE BREAKING POINT
Companies can define adequate service
levels by closely managing the customer
experience.
X Y Z
Calls Answered in <X secs:
Customer is delighted, satisfaction
boosted by very short hold times
Calls Answered in >Y secs:
Customer loses patience,
satisfaction begins to drop
Current Customer Service Target:
75% of calls are answered by this time
WillingnesstoRecommendService,
%ofrespondents

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INCREASED RESPONSE RATE LEADS TO A DECLINE IN PAGE VIEWS
Daily Response Rate
DailyCustomerServicePageViews
60% 100%85% - 95%
-10%
-24%
-7%
-1%

YOUR CUSTOMER PREFERS A 1:1 SERVICE EXPERIENCE
MAP OUT YOUR CUSTOMER SERVICE TOUCH POINTS
IDENTIFY THE BREAKING POINT
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Can I use social data to improve
my store experience?
If you manage your dealer network, you might ask…

Average of 242
Public Reviews
4.0
126
50
28
8
30
5
4
3
2
1

Source: Facebook Places & Foursquare
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REVIEWS, CHECK-INS AND RATINGS
# of Check-ins
#ofReviews
Outlet Rating

Source: Facebook Places & Foursquare
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REVIEWS, CHECK-INS AND RATINGS
Index Check-ins
IndexReviews
Low Performers
Volume Opportunity
Experience Opportunities
Flagship Outlet

Under
Performer
Over Performer
Source: Facebook Places, Foursquare & *fictional revenue data
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CORRELATING USER RATINGS TO REVENUE CONTRIBUTION
5 9 1 13 3 8 2 10 6 12 7 14 4 11Outlet

DON’T JUST MONITOR PERFORMANCE,
OPTIMISE THE EXPERIENCE

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IMAGINE THAT?...
Location Based
Music Preferences
+

LINK SOCIAL PERFORMANCE TO
BUSINESS PERFORMANCE
USE CUSTOMER REVIEWS TO IMPROVE
THE STORE EXPERIENCE
EXPLORE HOW YOU CAN EMBED SOCIAL
INTO YOUR BUSINESS OFFERING
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OK,
LET’S RECAP
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SHIFT YOUR PERSPECTIVE
THINK LIKE AN ECONOMIST
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1

ASK BETTER QUESTIONS
LINK SOCIAL & BUSINESS PERFORMANCE TOGETHER
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2

CREATE YOUR OWN METRICS
REPORT ON IT
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3

ACT ON YOUR FINDINGS
GROW MORE OR COST LESS
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NOW GO MAKE SOME TASTY BLENDS
THANK YOU

Crafting Insightful In-house Data Blends

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