The Social Data Revolution - 5 Practical Tips to Make it Real (AMA MarketMix Event - April 2015)
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The Social Data Revolution - 5 Practical Tips to Make it Real (AMA MarketMix Event - April 2015)
- 1. The Social Data Revolution Adam Schoenfeld CEO, Simply Measured @schoeny #MarketMixNW 5 Practical Tips
- 3. “Despite the many big promises of big data there is big disappointment that our companies are not truly data-driven.” - Avinaush Kaushik #MarketMixNW
- 4. We Own This Revolution
- 5. Opportunity Status Quo Practical Tips 1 2 3 AGENDA #MarketMixNW
- 8. © 2015 Simply Measured, Inc Social is at the Center of This Revolution Over 2B Social Media Accounts 300 hours of video are uploaded to YouTube every minute 4.75B pieces of content uploaded to Facebook daily 500M Tweets sent daily
- 10. © 2015 Simply Measured, Inc And It Keeps Growing 0 20.0K 40.0K 60.0K 80.0K 100.0K 120.0K 140.0K 160.0K 180.0K MentionsonTwitter Daily Meerkat and Periscope Streams Published #Meerkat #Periscope
- 11. © 2015 Simply Measured, Inc From data-free marketing… To data-driven marketing… This Trend is Transforming Marketing
- 12. © 2015 Simply Measured, Inc Who Can Lead the Revolution?
- 13. © 2015 Simply Measured, Inc New Practices Need Revolutionaries
- 14. The Social Data Revolution
- 15. Why Does This Revolution Matter? #MarketMixNW
- 16. Turning The Digital Data Deluge to Data-Driven Marketing Data-Driven Marketing This Is Fuel For…
- 18. We’re Not There Yet
- 20. © 2015 Simply Measured, Inc No Data Source: timoelliott.com
- 21. 67% of Marketers named measurement as a top challenge in 2015. (Altimeter) “Access to data” is the 2nd biggest analytics challenge (Simply Measured) Data and measurement problems rank above budget and resources (Forrester) #MarketMixNW
- 22. © 2015 Simply Measured, Inc Big Data
- 24. I’m a marketer by day, data janitor by night.
- 25. © 2015 Simply Measured, Inc = Data Janitor
- 26. >50% of time spent on weekly reports is aggregating metrics from each network Source: Simply Measured #MarketMixNW
- 27. #MarketMixNW
- 28. © 2015 Simply Measured, Inc Think “practical data” Start with business goals Define your data goals Collect - Understand - Share Go beyond the buzzwords #1 #2 #3 #4 #5 #MarketMixNW
- 29. © 2015 Simply Measured, Inc Think “Practical Data” #1
- 30. © 2015 Simply Measured, Inc #MarketMixNW “Most of our conversations with product and business managers are spent discussing what I like to call ‘little data.’ Little data constitutes the nuts and bolts metrics of running a business.” - Peter Yared (via CNET)
- 31. © 2015 Simply Measured, Inc Laser or Can Opener? #1
- 32. © 2015 Simply Measured, Inc Practical Data Wins Super Bowls #1
- 33. © 2015 Simply Measured, Inc Start with Clear Business Goals Innovation Collaborating with customers to drive future products and services Customer Experience Improving your relationship with customers, and their experience with your brand Operational Efficiency Where and how your company reduces expenses Brand Health A measure of attitudes, conversation and behavior toward your brand Marketing Optimization Improving the effectiveness of marketing programs Revenue Generation Where and how your company generates revenue BUSINESS GOAL Source: Altimeter Group #2
- 34. © 2015 Simply Measured, Inc Business Goals Engage the community beyond game broadcasts Drive incremental revenue #2
- 35. © 2015 Simply Measured, Inc Define Your Data Goals #3
- 36. © 2015 Simply Measured, Inc Social Analytics #3
- 37. © 2015 Simply Measured, Inc Seahawks Example • Engagement, across channels • Reach & audience • Performance vs NFC West • Content & messaging • Channel strategy Engage the community beyond broadcasts Drive incremental revenue #3
- 38. #3
- 39. #4 Collect Understand Share AccessData Analysis Decisions Get access to the practical data you need in formats you can use. Extract metrics, analysis, insights that can be applied to your daily decisions. Build a data-driven team with a culture of sharing and acting on practical data.
- 40. COLLECT UNDERSTAND SHARE - Seahawks social profiles - NFC West competitor profiles - Fan hashtags – during & outside of broadcast - KPIs vs goal - Content analysis - Channel analysis - Competitive analysis - Marketing Team - Advertisers - Fans • Engage the community beyond broadcasts • Drive incremental revenue #4
- 41. #4
- 42. © 2015 Simply Measured, Inc Beyond the Buzzwords Map your data needs. It’s not everything under the sun. Source: Huffington Post #5
- 43. #5
- 44. • Megaphone #5
- 45. Opportunity Status Quo Practical Tips 1 2 3 RECAP #MarketMixNW
- 46. Q&A #MarketMixNW
Notes de l'éditeur
- There is consensus that being data-driven will lead to better decisions, more effective marketing, and happier teams. And to be data-driven as an organization – that means we need all of our people to be data-enabled. That means marketers.
- This is an opportunity that we can own. We’re the ones best positioned to own it because we have the best understanding of the digital world. Objective for today is to share some practical tips to help start this revolution. The explosion of data in social media and digital more broadly give us, marketers a chance to push this revolution
- Agenda: 1. opportunity we have with the deluge of digital data, specifically social media. (Opportunity) 2. the problems we have overall preventing us from being data-enabled. (Problem) 3. Practical tips to start this revolution.
- The amount of digital data being generated is exploding. According to IDC Digital Universe Study, by 2020: 1. The digital universe will total 35 zettabytes (in 2011 it was 1.8 zettabytes) 2. Organizations will deal with 50 times more information
- Social Media is at the center of this revolution. It has become the norm for consumers to create, share, and interact through social media. This is a massive part of the digital data explosion.
- The number of channels, new types of medium, and data keep growing. Two services that are less than a month old already have 100K+ creators. Each of these things and each interaction or share on top represents data
- The people in this room are the ones that get it. Marketers. You are engaged, you have the context. We’ll lead this data revolution, not data scientists or BI departments or IT. .
- Brands getting on social media was led by marketers who saw this opportunity and showed their organizations the way. Not everyone understand. People made proposals and took risks. Adage story: http://adage.com/article/special-report-digital-alist-2010/digital-a-list-2010-starbucks-brewing-social-media/142202/ From nothing to a leader. One guy. Now it’s huge. Same thing will happen with the data revolution.
- Social data revolution is the same story. Marketers showing their organizations the way. Taking a practical approach. Making data accessible and part of day-to-day business.
- The point of starting a revolution is to make this explosion of digital data something useful and practical for our marketing. It’s not just about collecting data, but about using that data to make better marketing decisions day-to-day.
- The point of data is to achieve a level of “advanced common sense” Without data, you rely on your common sense, intuitive. With data, you can have an enhanced and advanced level of common sense. Why we do this, we will be more effective, happier, better teams. High fives ensue.
- We’re not there yet. There this revolution has just started. Social is an awesome opportunity, but most of us don’t even have the basics. Not something that we’re using in our day to day, nut & bolts of running our business
- Despite all the digital data now theoretically available, the actual access can sometimes be underwhelming. The problem with this is that you don’t Get advanced common sense. You get HiPPO.
- Because many marketers are in a state of No Data or Insufficient data, you see survey finding like these…
- The other status quo we see is “big data.” Since big data has captured the news headlines, a lot of effort is going to building big data practices inside of marketing. Big data is not inherently BAD, In fact, it is very but it’s complex to implement, requires specialized skills, and takes massive time.
- The problem with big data, is that it’s only accessible for the few. Data scientists love big data. But big data doesn’t fit marketers. Most marketers can’t use big data in the day-to-day nuts and bolts of running a business. It’s a mismatch for the need. So big data, doesn’t by itself get us to advanced common sense. We also need what I like to call practical data will talk more about that.
- Key point – with social data specifically, it’s a lot of disparate puzzle pieces. Process – collect a bunch of stuff, then figure out how to make sense – solution = CUS. Image – see above.
- Talked about how big data is a revolution for data scientists, but not for marketers. This is where thinking in terms of practical data can help. A strategy that starts with a practical approach to get you to the desired goal instead of thinking about big data for the sake of data.
- Lasers are really cool and flashy. They are great for very specialized and important jobs. That’s big data. However, a lot of what we need is just opening a can. Getting access to the data that will help us do our jobs better each day… that will help us achieve advanced common sense. In a lot of cases, using a can opener will be far more practical that building a laser.
- Image – Altimeter.
- Based on your business goals, you can determine what aspects of this are most important. Two core things we need data for – Planning and Measurement
- This how we think of mapping social analytics to Plan & Measure. Similar for other kinds of marketing data & analytics.
- There is a pretty linear process that happens to go from data (not useful on it’s own) to something you can use. Collect -> Understand -> Share. I talked about Data Janitor work. That usually happens when we have a lot of data, but didn’t start with a process to make it useful and part of our every day business. “Oh shit, I need some data” vs “I use practical data every day, it’s part of how we work.” A simple mapping of data to this process can help
- Build a dictionary. Get aligned. It will take some work. Get clear on terminology Start small. Build the dictionary. Educate in plain English
- What does this mean??