Crafting Insightful In-house Data Blends

CRAFTING INSIGHTFUL IN-HOUSE BLENDSShifting 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 2

DIGITAL DATA IS KEPT AT ARMS LENGTH

CRAFTING INSIGHTFUL IN-HOUSE BLENDS

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THE GOAL: INTEGRATED BUSINESS

INTELLIGENCE IN REAL TIME


Social Media Web Analytics

Business

Customer Data Revenue Data

BIG DATA?!?

YOU CAN START TODAY!

6CRAFTING INSIGHTFUL IN-HOUSE BLENDS :)

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

SetTrigger

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


CORRELATION SEEKS RELATIONSHIP BETWEEN A BEHAVIOUR AND AN OUTCOME

Relationship???

Social Behaviour

Sale

LOOKING FOR CORRELATIONS MAKE US

ASK BETTER QUESTIONS


Does an increased response rate lead to decreased call-center volume and costs?


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?


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?


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?

INTERACTIONS ADD TO CART

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 NOON

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 NOON

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


Will investing in better online customer service result result in an increase in sales?

If you are in sales, you might ask..

COMMENTS ARPU

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


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 ZCalls 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

Willi

ngne

ss to

Rec

omm

end

Serv

ice,

%

of r

esp

ond

ents

RESPONSE RATE CS PAGE VIEWS


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INCREASED RESPONSE RATE LEADS TO A DECLINE IN PAGE VIEWS


Daily Response Rate

Dai

ly C

usto

mer

Ser

vice

Pag

e Vi

ews

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


Can I use social data to improve my store experience?

If you manage your dealer network, you might ask…

Average of 242 Public Reviews

4.0126

50

28

8

30

54321

Source: Facebook Places & Foursquare

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REVIEWS, CHECK-INS AND RATINGS


# of Check-ins

# of

Rev

iew

s

Outlet Rating

Source: Facebook Places & Foursquare

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REVIEWS, CHECK-INS AND RATINGS


Index Check-ins

Inde

x R

evie

ws

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

+

SPOTIFY X STARBUCKS

LINK SOCIAL PERFORMANCE TO BUSINESS PERFORMANCE

USE CUSTOMER REVIEWS TO IMPROVE THE STORE EXPERIENCE

EXPLORE HOW YOU CAN EMBED SOCIAL INTO YOUR BUSINESS OFFERING


OK,

LET’S RECAP


SHIFT YOUR PERSPECTIVE

THINK LIKE AN ECONOMIST


1

ASK BETTER QUESTIONS

LINK SOCIAL & BUSINESS PERFORMANCE TOGETHER


2

CREATE YOUR OWN METRICS

REPORT ON IT


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

Social Media

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