Building the Social Powered Brand: Turning Social Data Into Competitive Advantage
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Social data from sources like social media is growing exponentially and contains valuable insights for brands. While only 3% of companies report getting substantial benefits from social data currently, it has the potential for huge economic gains if leveraged effectively. Social data is complex with many networks, posts, and metadata to analyze. While listening is important, true value comes from analyzing social data and using those insights across departments like marketing, sales, product development, and customer service. The case study described how Dell's Social NET Advocacy Pulse (SNAP) metric and social analytics tool provides actionable insights for optimizing pricing strategy, improving products based on social conversations, capitalizing on real-time customer feedback, and more.
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Building the Social Powered Brand: Turning Social Data Into Competitive Advantage
- 1. Building The Social Powered Brand: Turning Social Data Into Competitive Advantage
- 2. Social Data Is Exploding
- 3. Social Data Is Shaping Your Brand 50% are talking People who recommend brands on social networks 90% are listening People looking at recommendations on social networks 3
- 4. Social Data Is Your Brand 50% go to your social site first
- 5. Incredible Opportunity $1.3T Potential economic gain for top 20 industries Source: McKinsey
- 6. Getting Value? 3% Companies reporting substantial benefits from social Source: McKinsey Source: McKinsey
- 8. Important point v.02 Why Is This So Hard? Subtitle Grab your phone and explore the entertaining and very pink world of Benefit Cosmetics. As Benefit's founders say, "Laughter is the best cosmetic, so grin and wear it!"
- 9. 500M Tweets Per Day
- 10. Social data is rich and complex 400 Fields of Metadata User Content Location Reply Device Application Links Mentions Date/Time/Timezone
- 11. 200 # of Social Networks Have more than 1M active users Source: Wikipedia
- 12. The Long Tail: Ravelry.com
- 13. 20,000,000 Blogs & Forums Updates Per Day
- 14. tum 85M Tumblr Posts Per Day g Source: DataSift
- 15. Generating Massive Data 9x Growth In Shared Content Data Shared (Zettabytes ) 8 6 4 2 0 2009 2010 2011 3.2Bn Facebook Likes 500M Tweets 100M Instagram Photos Source: IDC, Mary Meeker KPCB 2012 2013E 2014E 2015E 250M Tumblr Posts 200M bitly Clicks 70M+ Blogs, Forums
- 16. More Data Outside Your Business Than In
- 17. Step 1 Was Listen & Engage
- 18. 3% Listening only captures 3% of social traffic Source: Conversocial
- 19. Think What You Might Be Missing
- 20. Today: A New Social Economy 20
- 21. Opportunity In Every Department R&D Product Development Marketing Market Research Operations Supply /Demand Forecast Marketing Communications Sales & Marketing Demand Generation Sales Social Commerce Service & Support Customer Care Human Resources Recruiting Talent
- 22. DataSift Powers Social Data Innovation Infusing Social Data Across The Enterprise customer service news monitoring social apps email marketing influencer modeling BI/analytics apps social data platform layer Social Data Publishers market research demand planning DIY enterprise apps
- 23. Fueling An Analytics Revolution From transactions inside Customers Purchases Interactions outside Engagement Opinions Interests Data you want | Quick and at scale | Low cost per data source Data you want | Quick and at scale | Low cost per data source
- 24. We Power Enterprise Leaders
- 25. We Power Social Economy Apps Demand Generation Business Intelligence Data Visualization Social Media Marketing Analytics Marketing Customer Service Advertisement Analytics Broadcast Media Data Science, Analytics Data Visualization Analytics Data Visualization Social Media Analytics, Business Intelligence Data Visualization Analytics Analytics, Lead Generation Social Media
- 26. Social Data Is Transforming Business Social Monitoring Command Centers Marketing Teams isolated Activity Spikes Social Data Business Decisions Whole Company Every Team Influencers & Audiences Social + Business Data connected
- 27. Campaign Analysis USA Fac 37%ebook of Mobi Tra l ffic e ! USA Dir ect Tr UK affi c! NL! USA Fac ebo ok We b! ! USA Twi tter ! USA Upw orth BR! y.co CA! m GR!
- 30. Unique Experiences For High Value Prospects
- 31. Player Popularity Drives Demand Planning
- 32. Finding Influencers…Who Are Also Buyers Data you want | Quick and at scale | Low cost per data source Data you want | Quick and at scale | Low cost per data source
- 33. Inside The Social Data Transformation Shree Dandekar Chief Strategist, Director, Business Intelligence & Analytics Dell, Inc. @shree_dandekar
- 34. Social Net Advocacy Pulse (SNAP) Using real-time brand reputation analytics to drive business Shree Dandekar Director, BI/Analytics Strategy Twit: @shree_dandekar Confidential Confidential Dell - Critical Handling - Confidential
- 35. Over six years of social media experience March 2008 Accepted Solutions launched on Community February 2006 A voting based site allowing Dell France begins Online Community 2008 May Michael Dell asked customers and others to Outreach Why don’t we reach out and help Dell Outlet achieved submit ideas for Dell. October 2007 bloggers with tech support issues? $0.5M in sales via Twitter Michael Dell quoted in Business Week December 2006 In response to Jeff Jarvis question around Ratings and January 2009 whether companies want to be part of the online reviews launched conversation: ”My argument is you absolutely Dell Organizes on Dell.com do. You can learn from them. You can into four improve your reaction time. And you can be a customer better company by listening and being involved in that conversation.” focused business units June 2009 Global Twitter revenues of $6.5 M February 2007 IdeaStorm launched 2006 2007 July 2006 Direct2Dell launched Today Direct2Dell exists in English, Spanish, Norwegian, Japanese and Chinese. January 2007 StudioDell launched August 2006 Blog outreach expanded beyond tech Support 2008 2009 June 2007 Dell joined Twitter EmployeeStorm launched Internal Blogs Launched for Employees. Dell’s video and podcast site, with helpful tips and tricks. Eventually expanding this into the YouTube channel making sharing easier. November 2007 DellShares launched The first investor relations blog by a public company. January 2008 Dell aligns organization for success June 2008 Channel blog launched April 2008 Inside IT launched Blog focused on business customers, and Cloud Computing. Confidential Confidential Dell - Critical Handling - Confidential June 2009 $2M+ Sales via Twitter December 2009 Huffington Post Blog Dell named the No. 1 most social brand with “Open Leadership Award for Innovation and Execution” December 2010 Social Media Listening Command Center launched 2011 2010 2009 Dell TechCenter Spring 2009 Members of Community and Conversations deployed within each of the new Dell Business units March 2010 Dell joins Sina Weibo in China Altimeter recognized Dell Social Media & Community University (SMaC U) launched 5,000 team members trained by end of year 6 Awards for the Social Media Listening Command Center B2B pages on Facebook June 2010 CAP Days launched In-person events for vocal online customers
- 36. Motivation Poor Sentiment Accuracy No Contextual Information Too many metrics Ease of Use 36 • Majority of social media posts classified as neutral • No actionable insights • Pretty graphs/charts/reports but what is important? • How to integrate social?
- 37. Context is Key for Business Insights Actual post “(More customer reviews)I purchased this drive to repair/upgrade a dead drive in a Dell Mini 9 which originally came with an 8G PCI SSD. The 16gb was a nice addition, and it was instantly recognized in BIOS, and booted just fine with my XPS/USB install” Actual sentiment/topic assignment… Radian6 tagging is at the Post level Sentence NA Topic Dell Sentiment Neutral Intensity NA identifies single topic and assigns sentiment to entire post. Clarabridge tagging is by topic Sentence Topic Sentiment Intensity 1 Hard Drive (-‐) -‐2 1 Mini 9 (-‐) -‐2 2 Hard Drive Neutral 0 Actual Social Drive Media Example Post from Blogspot.com 3 Hard (+) 2 separates into 3 distinct clauses and assigns sentiment by topic/ context for each clause. 1) "(More customer reviews)I purchased this drive to repair/upgrade a dead drive in a Dell Mini 9 2) which originally came with an 8GB PCIE SSD. 3) The 16gb was a nice addition, and it was instantly recognized in BIOS, and booted just fine with my XP/USB install" 37 Dell - Critical Handling - Confidential
- 38. Introducing SNAP Social NET Advocacy Pulse (Positive – Negative) Indicator of purchase intent Customer touch point Confidential 38 • Dell - Critical Handling - Confidential
- 39. SNAP twit pitch SaaS analytics offering • Real time social analytics tool to monitor customer sentiment by brand and product category Aggregated social metric • Single aggregated metric - net sentiment/advocacy of social conversations for easy monitoring and tracking Drill-down and actionable insights • Ability to drill-down for various aspects of the business in order to uncover positive and problem areas Targeted social listening • Enables conversations of interest to be sliced/diced by categories and delivered to different business managers Dell Confidential 3 Confidential Dell - Critical Handling - Confidential 9 Confidential
- 40. SNAP: How do we get actionable insights through social media conversations? 1 Listen: More than 25K Dell conversations every day 40 • 2 Aggregate: Aggregate all conversations pertaining to Dell / industry / competitors Dell Confidential Dell - Critical Handling - Confidential 3 Enrich: Filter, categorize and determine sentiment using best-in class NLP and Text Analytics engine 4 Collate: Calculate SNA -which represents overall brand advocacy and the advocacy behind individual contributing facets of the product / business 5 Deliver: Real-time tool for tracking and monitoring SNA and actionable insights for business managers
- 41. Case Studies
- 42. Using SNAP to optimize product pricing strategy 50 40 SNA 48 4,328 36 30 36 2,477 32 41 30 3,024 2,042 20 688 10 4000 3000 2000 1,520 1000 - 0 1/10 1/17 1/24 1/31 Volume of Conversations Revenue 42 Dell Confidential Confidential 5000 Dell - Critical Handling - Confidential Confidential 2/7 SNA 2/14 Volume of Conversations Revenue XPS 13 - SNA and Conversations
- 43. Using SNAP to capitalize on real-time NPS 30 8 28 6 26 4 NPS 24 2 SNA 22 0 Q1 43 43 Dell Confidential Dell - Critical Handling - Confidential Q2 Q3
- 44. 14 100 12 SNA 10 8 50 6 4 2 0 0 SNA 44 Dell Confidential Confidential Dell - Critical Handling - Confidential Wireless Ba4ery Confidential Keyboard Volume of Conversa/ons (k) Using relevant chatter to quickly rectify support issues
- 45. Using SNAP to improve Search Engine Optimization Listen to Social Media Conversations Apply Listening Algorithm and Identify Buzzwords • Touch screen laptop • Tablet laptop • Duo laptop • And others… 45 45 Dell Confidential Dell - Critical Handling - Confidential
- 46. SNAP for CMOs 46 Dell Confidential Confidential Dell - Critical Handling - Confidential Confidential
- 47. A few SNAP business applications Product Development • Primary Research • Early Warning system • New Product Ideation Sales • Lead Generation and Scoring 47 Dell Confidential Dell - Critical Handling - Confidential Marketing • Instant feedback on campaigns • Improve Product messaging and offers/promos • SEO/SEM Support/ Customer Service • Improve coverage • Prioritization of support issues NPS Diagnosis • Issue identification and tracking • Predicting NPS based on SNA M&A • Research on potential acquisitions • Customer reaction on upcoming acquisitions
- 48. Thank You Shree Dandekar Director of BI/Analytics Twit - @shree_dandekar Confidential Dell - Critical Handling - Confidential
- 49. Dashboard displaying SNAP metric and customizable trend chart Dell SNA for Nov Detailed Post metrics Weekly SNA and Post Trend Confidential Dell - Critical Handling - Confidential 49
- 50. SNAP by topic groups Allows you to drill down into a specific product/topic Displaying SNA for all Product Categories Drill down a specific product Confidential Dell - Critical Handling - Confidential 50 SNA dropped by 16 pts in last week of Nov
- 51. Drill in to topics to understand change in SNAP for any time period (week to week) Topics – Related tab provides which Confidential topics are contributing to the change Dell - Critical Handling - Confidential
- 52. Drill down in to actuals posts contributing to SNAP score Customers unhappy about price for specific config of XPS 13 with ubuntu Confidential Dell - Critical Handling - Confidential 52
- 53. SNAP jumped right back after price correction Confidential Dell - Critical Handling - Confidential 5 3
- 54. 5 Steps To Social Data Success
- 55. Arm Yourself
- 57. Kill The Vanity Metrics Fans Friends = #sowhat Likes
- 58. Get Proactive & Test
- 60. The social economy is just getting started… the time is now Data you want | Quick and at scale | Low cost per data source Data you want | Quick and at scale | Low cost per data source
- 61. Want more detail? Download Beyond The Hashtag: A Field Guide to Social Maturity www.datasift.com/ beyond-the-hashtag