Building a Socially Savvy Brand
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Transcript of Building a Socially Savvy Brand
Revitalize Your Brand in a Data-rich, Hyper-connected WorldRavi Bapna Professor of Information Systems | Carlson School of ManagementCo-director | Social Media & Business Analytics Collaborative (SOBACO)
@ravibapna@SOBACO_UMN
Your brand . . .
search & display
mobile
social
Big Data
crowds
communities
. . . embedded in the digital world.
You can’t managewhat you can’t measure
You can’t improvewhat you can’t measure
1
In the next 20 minutes…
Connected
2 Big Data rich
3 Measurable
Billion+ people on the social graph
Flickr users, top: FaceMePls, DaveLawler, OneLaptopperChild. Below: gckphoto, sekihan, Rah.JY, djking.
Doing what they like to do
Flickr user: circulating
Addiction?
66% of smartphone users sleep with a phone next to them
Flickr user: wanderingone
Telenav Study, August 2011
caffeine
Which would you rather give up?
cellphone
or
55%give up caffeine
Telenav Study, August 2011
Flickr user BuzzFarmers
caffeine
Which would you rather give up?
cellphone
or
alcohol
Telenav Study, August 2011
Flickr user BuzzFarmers
70%give up alcohol
Which would you rather give up?
cellphone
or
Telenav Study, August 2011
Flickr user BuzzFarmers
sex 33%give up sex
Social revolution on the Internet
Social
Lifestyles
Photos
Newspapers
Research
…
Beauty
Politics
Job search
0 20 40 60 80 100E-mail Social Platforms
0
200
400
600
800
1000
2009 Users (million)2010 Users (million)
Courtesy: Misiek Piskorski
Number of site visits (index)
2Leaving a rich trail of dataLeaving a rich trail of data
Sources
enterprise systems
social media mobile
• Customer Relationship Management (CRM)
• Manufacturing Resource Planning (MRP)
• Finance resource management (FRP)
• Supply Chain Management (SCM)
• Human Resource Management (HRM)
• Mobile web
• Apps
• SMS
• Geolocation
• API
• Text mining
The Internet of Things
Courtesy: David Hardoon@SAS
It’s a 8 step journey!
3Leaving a rich trail of dataUniquely, individually measureable
What do we measure?
Metrics
Constructs
• Keyword and campaign efficacy
• Audience behavior and ad effectiveness
• Sentiment analysis and economic Impact
• Cross-media and cross-device effects
• Social network characteristics
• Peer influence
• Engagement
• Trust and reciprocity
• Predictive accuracy
(greed to follow)
FEAR
Flickr user: Jim Grady
United’s nightmare
Flickr user: Paul J.S.
http://www.youtube.com/watch?v=5YGc4zOqozo&feature=player_embedded
United’s nightmare
$3,500 guitar
3 million views in 1 week
$180 million estimated negative impact on brand
Flickr user: Paul J.S.
Go on the offense: 5 ideas to get started
1 Define a strategic goal
2 Create a social graph of customers
3 Identify influencers, sub-communities
4 Detect peer influence
5 Truly understand, predict and optimize
Go on the offense: 5 ideas to get started
1 Define a strategic goal
1 Define a strategic goal
2 Create a social graph of customers
3 Identify influencers, sub-communities
Four decades of consumer engagement
1980’s 1990’s 2000’s 2010’s
Courtesy Rob Cain, CIO, Coca Cola Company
Single message
Segmentation
Customization
Socially linked
Different ways to organize 100 people
Many types of centrality
A
Centrality is not enough…
B
DC
Think beyond individuals
3 and 5 together are more influential than 10
Density and clustering
Network structure can help identify sub-populations that can be targeted differently
Your homework
Analyze your own networkhttp://apps.facebook.com/touchgraph
Courtesy: Ghose et al, New York University
Brand Mapping using Text Mining
Audi A6 Honda Civic 252Audi A6 Toyota Corolla 101Honda Civic Audi 6 252Honda Civic Toyota Corolla 2762Toyota Corolla Audi A6 101Toyota Corolla Honda Civic 2762
Audi A6 Honda CivicToyota Corolla
Audi A6 --- 252 101
Honda Civic 252 --- 2762
Toyota Corolla
101 2762 ---
Message #1199 Civic vs. Corolla by mcmanus Jul 21, 2007 (4:05 pm) Yes DrFill, the Honda car model is sporty, reliable, and economical vs the Corolla that is just reliable and economical. Ironically its Toyota that is supplying 1.8L turbo ... Neon to his 16 year old brother. I drove it about 130 miles today. Boy does that put all this Civic vs. Corolla back in perspective! The Neon is very crudely designed and built, with no low ...
Associative Network
Product Co-occurrence Data
Courtesy: Ghose et al, New York University
Spring embedded Kamada Kawai graph
only ties with significant lifts (2 p.value<0.01) are included
The Car Models Network
Courtesy: Ghose et al, New York University
1 Define a strategic goal
2 Create a social graph of customers
3 Identify influencers, sub-communities
4 Detect peer influence
Behavior of friends is correlated in time and space
Photos courtesy Chris Dellarocas
Did you buy an iPhone? Did your friends?
iPhone 4 debut, Paris iPad 2 debut, Beijing
Detecting Peer Effects CausallyLast.fm Free-to-Fee Problem
SubscriberFriendCnt 0.65 2.85 0 0.000.00 541.00
SubscriberFriendCnt 2.85 10.35 0 1.000.00 709.00
Freemium >
Subscribed >
Do friends influence their friends to pay?
© 1983 by MGM/UA Entertainment Co.
Or, do birds of a feather flock together?
Flickr user: Kevin Krejci
Do friends (causally) influence their friends to pay?
Flickr user: The Reboot
Experimental Design
1. Randomly select 2000 users from the network
2. Half of them get the gift from us (group M) and half of them get no gift from us (group NM)
3. Wait for a few weeks
4. Check if there is a significant difference in adoptions between friends of M and friends of NM.
In the Last.fm case
SubscriberFriendCnt 0.65 2.85 0 0.000.00 541.00
SubscriberFriendCnt 2.85 10.35 0 1.000.00 709.00
Freemium >
Subscribed >
Higher likelihood of adoption if friend adopts
50%
1 Define a strategic goal
2 Create a social graph of customers
3 Identify influencers, sub-communities
4 Detect peer influence
5 Truly understand, predict and optimize
The Holy Grail
TRUST
Business models based on
Flickr user: tvangoethem
You will be asked to log into Facebook. Getaround is a community built on trust and by connecting with Facebook, you enable safe and open sharing.
Flickr user: ericarhiannon
Design a viral incentive scheme for this service
ALTRUISM
Viral schemes based on
Calvin and Hobbes © Bill Watterson
Find your path to becoming a social brand that matters
3MAY Our Data, Ourselves
Ramayya KrishnanHeinz College, Carnegie Mellon University
20-22NOV Social Media and Data Analytics
for Digital MarketingCarlson Executive EducationRavi Bapna & Anindya Ghose
Social Media & Business Analytics Collaborative
@SOBACO_UMNcarlsonschool.umn.edu/sobaco
THANK YOU
@ravibapna@SOBACO_UMN