Post from channel 1

1. By Dr. Natalie Petouhoff
@drnatalie
www.drnatalienews.com/blog
Real Social Media
Monitoring Case Studies
Demystifying the
ROI of Social Media

2. 2
Agenda
•
Look at real case studies
•
Set-up a social media
measurement program
•
Calculate business impact & ROI
@drnatalie

3. •Learning is the desire to discover new things
We are amazed by new things…
@drnatalie

4. •
@drnatalie
It’s the
new shiny
object
And Social
Media?
@drnatalie

5. But the amount of
information
– can feel like an
insurmountable blur
@drnatalie

6. It can generally be useless
@drnatalie

7. Today’s goal is to…
Provide…
•
Marketers
•
Brand Managers
•
Product Managers
•
Consumer Insights Teams &
•
Market Research Professionals
w
An understanding of the
benefits of:
•
Having deep, real-time insights
•
Using insights to make business
decisions &
•
Being able to be an invaluable
resource to CEO- suite
@drnatalie

8. ssss
To TAKE
THE
CHAOS
TO
ORDER
Using context
@drnatalie

9. 9
Business As Usual
Executives want to know
what the business value
of social media is
@drnatalie

10. Misconception
s of ROI
•
That’s funny
•
But ROI is not obvious to everyone
•
And your boss would like a number
@drnatalie
You may have heard…
“Would you calculate the ROI of
your mom or your pants?
Then why would you calculate
the ROI of social media?
It’s obvious!”
http://www.flowtown.com/blog/what-is-the-roi-of-your-mom
@drnatalie

11. Misconception
s of ROI
“ROI is too difficult
because
I’m not
a “math” person.”
@drnatalie

12. Misconception
s of ROI…There’s a change in metrics!!
•
We have 500 more “Likes”
•
10X click-thru rate on “Buy Now” button
•
$5M in annual support savings & sales advocacy
•
Viral videos increased company sales +700%
•
Social microsites secured 1,000,000 fans and a 10%
increase in same-store sales
E
I have an ROI!!
e
Note to self:
Metrics are necessary…
But they are not ROI
@drnatalie

13. Real-world
Examples
@drnatalie

14. Analyzed online conversations:
•
Their brand
•
Key competitor
Ran nat’l ad campaigns & wants to understand:
•
Effectiveness of messages and
•
Drivers of consumer purchase intent
Case Study:
Major Insurer
Advertising Effectiveness & Competitor Evaluation
@drnatalie

15. Insurer Ad Effectiveness
•
Insurer’s ad campaign is liked
•
Didn’t generate conversation about
buying or switching insurers
@drnatalie

16. Insurer Ad Effectiveness
•
Insurer’s ad campaign is liked
•
Didn’t generate conversation about
buying or switching insurers
•
Competitor ad campaign is more divisive
@drnatalie

17. Insurer Ad Effectiveness
•
Insurer’s ad campaign is liked
•
Didn’t generate conversation about
buying or switching insurers
•
But spurs a conversation trend related to
purchasing
•
Competitor ad campaign is more divisive
@drnatalie

18. Conclusion of social media monitoring
•
Both campaigns generate
healthy “buzz”
•
But positive sentiment doesn’t
reflect intent to purchase
•
Using context avoids
misinterpreting positive
sentiment for a social buying
gesture- intent to purchase
@drnatalie

19. ROI of social media monitoring
ROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the cost?
• People- to do the analysis
• Process- process to compile the
information
• Technology- social media
monitoring tool
What is the benefit?
•
If the commercial drove sales?
•
Number of leads?
•
What is a lead worth?
•
Number of lead conversions?
•
What’s a sale worth?
@drnatalie

20. Case Study:
Craft Company
Product Development & Marketing
Wants to understand:
•
What topics dominate craft-related conversations?
•
Is marketing having the desired effect?
•
What’s lacking in the product line and accessories?
@drnatalie
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21. Identified New Product Opportunities
Discovered opportunity to
develop more male-centric
product line & accessories
Consumers’ expressed strong
desire for:
•
More & better supplies &
accessories
•
Improved access to purchase
those accessories
@drnatalie

22. •
In-house Research
•
Quickly and cost effectively
identifies new product & market
opportunities
•
Prompts development of new
product accessories
•
Enables additional sales
•
Expands market share
•
Marketing
•
Gained increased confidence
leveraging social-media
•
Confirmed effectiveness of current
messaging and promotional
approach
Conclusions of social media
monitoring
@drnatalie

23. ROI of social media monitoring
ROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the cost?
• People- to do the analysis
• Process- process to compile the
information
• Technology- social media
monitoring tool
What is the benefit?
•
What does it cost the company to go to market
with a product that isn’t what customers really
wanted?
•
What would this type of market research
normally cost the company?
•
How long would it normally take to get that kind
of feedback? What’s the general cost for
product dev to launch a product?
•
What’s the value of fnding a new product to
provide their market?
•
What was the value in revenue of the new
products/ accessories?
•
What’s the value of key messaging that works?
Higher lead conversation rate?
@drnatalie

24. Case Study:
Medical Device for Diabetes & Insulin
Product Launch Marketing
•
What core messages will resonate most
with these consumers?
•
How do patients discuss the complexities
of treatment & control?
•
What is the significance for the new
product launches?
Wants to understand
diabetes & insulin:
@drnatalie

25. Lifestyle
Consumers’ Concerns
Top Conversations
Lifestyle
Treatment
Success
Support
Device comments?
LOWER
@drnatalie

26. Opportunity for brand to:
•
Get more engaged
•
Become trusted-partner
•
Create a online Community for
•
Advice
•
Recommendations
•
Shared-support
Conclusions of social media
monitoring
@drnatalie

27. ROI of social media monitoring
ROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the benefit?
•
What’s the value in knowing what to put the emphasis of
content online?
•
I.e.., to create an editorial calendar that has
content that specifcally addresses why people
might not use their medicine
•
And which means that don’t feel as well and they
don’t live as long or buy the medicine- which
affects sales
•
What is the value of becoming a trusted resource for
patient concerns? Enhanced brand trust?
•
Did the online community:
•
Deflect any calls to the call center?
•
Increase the efciency or effectiveness of the calls?
•
Did the company use the content in the
community to update their FAQs or knowledge
base which helped self-service?
What is the cost?
• People- to do the analysis
• Process- process to compile the
information
• Technology- social media
monitoring tool
@drnatalie

28. Case Study:
Healthy Snacking & Kids
Campaign Planning: Product Launch & Marketing
Wanted to know the nature of online conversations:
•
Concerns parents have providing kids a healthy diet
•
What factors drive purchase decisions and habits?
@drnatalie

29. “Healthy” in Kids Snack Foods:
More Effectively Resonate
with Consumers
Nutrition
Allergies
Top
Conversations
Convenience
Taste
Not as High
@drnatalie

30. Opportunities for Brand:
•
Better launch messaging
•
Product packaging
•
On-going campaign messaging
Conclusions of social media
monitoring
@drnatalie

31. ROI of social media
ROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the benefit?
• What’s the cost of market research?
• Focus group of 12 people = 15K
• How many would you need to do to get
the same volume of content?
• 12 x $15K = $180,000
• What’s the value of targeting the
message for a campaign?
• What’s the value of being able to run an
AB test of taste vs. allergies to see
which one really gets the most
responses?
ROI of social media monitoring
ROI = Benefits - Costs x 100 = Percentage Return on the Investment
Costs
What is the cost?
• People- to do the analysis
• Process- process to compile the
information
• Technology- social media
monitoring tool
@drnatalie

32. How to Set-up A Social
Media Measurement
Program
6. Hone the analysis / teach the system
7. Analyze the information
8. Create appealing presentation of data
9. Present information to stakeholders
10. Take action on the data & repeat!
@drnatalie
How to Monetize Facebook
With Social Commerce
By Dr. Natalie
1. Get executive buy-in & support
2. Choose Staff
3. Determine your business goals
•
Product Development
•
Product Launch
•
Product Marketing…
4. Choose a social media monitoring system
5. Start listening to online conversations

33. Wayne St. Amand
Vice President, Marketing

34. SOCIAL MEDIA IS EVERYWHERE,
AND EVERYONE IS USING IT.
WE ANSWER THE QUESTIONS.

35. 1.75 BILLION
POSTS PER
WEEK
100+ BILLION
POSTS TO DATE
250+ MILLION
POSTS PER DAY

36. MASSIVE OPPORTUNITY
NOT FULLY LEVERAGED BY MOST
•
Social media is the largest source of unfiltered
information ever available about how
consumers truly think and feel
•
The vast majority of companies have yet to
take advantage of this intelligence to
influence their business decisions
Achieving Social Intelligence
The management and analysis of customer data from social sources,
used to activate and recalibrate marketing and business programs.

37. SOCIAL INTELLIGENCE CREATES ACTIONABLE
INSIGHTS
True Social Intelligence
Delivers
•
Consumer insights to
drive business success
–
Greater marketing
effectiveness
–
On-target product
planning
–
Deeper competitive
insights
However, most of today’s tools do a terrible job
of helping you achieve true Social Intelligence

38. MOST SOCIAL MEDIA MONITORING IS
BROKEN
Keywords and semantics don’t work well in social media
•
Traditional tools lack the ability to understand context
•
A computer cannot replace human judgment
•
Human analysts cannot scale or provide consistency
•
Predefined rules cannot support the dynamic nature of the social media
conversation
•
Surface-level monitoring lacks accuracy and deep insight
NLP
Semantic
Search
Manual-coding
Keyword
Sentiment
Monitoring

39. 9
THE CRIMSON HEXAGON FORSIGHT® PLATFORM

40. Scalable
Accurate
Replicable
A REVOLUTIONARY APPROACH
Context
Nuance
Judgment

41. Posit
ive
66%
Major Automotive Brand
SENTIMENT ALONE IS INCOMPELTE
102,784mentions
11%
Neutral

43. ANALYTICS BEYOND SOCIAL
Customer
Feedback
Market Research
Social Web
Facebook
Pages
PROPRIETARY ONLINE

44. GLOBAL CONVERSATION
‫الخير‬ ‫صباح‬
Grüßgot
早上好
hej
bonjour
Γεια σου
selamat pagi konbanwa
안녕하세요
zdravstvuyte
merhaba selam
boas
sawa dee-kanamaskar

46. ADDITIONAL RESOURCES:
Request an Online Demo:
http://www.crimsonhexagon.com/products/request-a-live-demo
Customer Case Studies:
http://www.crimsonhexagon.com/customers/#casestudies
Overview Video:
http://www.crimsonhexagon.com/products/overview-video/
Data Sheets & White Papers:
http://www.crimsonhexagon.com/products/whitepapers/