The relevance of public voices
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The Relevance of Public Voices
The Relevance of Public Voices
Why the market researcher needs to pay attention to the new unstructured frontier social media
SM = consume + create + share
The excitement of new unstructured frontiers
Complexity of Social
Scottsfoot print
Scott
Scott
Channel Expansion
More than 400 million active users 50% of our active users log on to Facebook in any given day More than 35 million users update their status each day More than 60 million status updates posted each day More than 3 billion photos uploaded to the site each month More than 5 billion pieces of content (web links, news stories, blog posts, notes, photo albums, etc.) shared each week More than 3.5 million events created each month More than 3 million active Pages on Facebook More than 1.5 million local businesses have active Pages on Facebook More than 20 million people become fans of Pages each day Pages have created more than 5.3 billion fans
How do I fit?
Harris Interactive
5
Early Experimenter
Post-Trough Adopter
A journey to the relevance of unstructured data
When relationships dont tell us why when they like our product but wont buyMaking cacophony musical when a story emerges
We like
Unlikely to Buy
Do we need to increase familiarity?
Is our brand to weak to convert?
When relationships dont tell us why when they like our product but wont buy
We like
Unlikely to Buy
We want to buy but procurement will not let us
Corporate governance prevents us from considering
Do we need to increase familiarity?
Is our brand to weak to convert?
When relationships dont tell us why when they like our product but wont buy
Making cacophony musical when a story emerges
Making cacophony musical when a story emerges
Story emerges from the conversations
Top Mind: Coherent Issues Emerge
The Big Issues Surrounding Social Media Analysis
Cost MythShould be a fraction of the cost of traditional survey researchAccuracy MythMost mining software can accurately identify content and sentimentScopeYou can find anything you need on the ubiquitous WebRepresentativenessOnline sources reflect the voice of the market
SM = consume + create + share
SourceClassificationSentimentVolumeTimeInfluence
Building Blocks of Social Media Analysis
Research Questions
SourceClassificationSentimentVolumeTimeInfluence
Where are the conversations occurring?
What are people talking about?
How many people are talking?
Is the conversation changing?
Who leads the conversation?
Are conversations negative or positive?
Business Questions
SourceClassificationSentimentVolumeTimeInfluence
What channel should I target?
Can I align messages to market interest?
Can I prioritize the top mind share?
What issues are gaining momentum?
Can I target the opinion leaders?
Can I amplify positive reaction?
Data Collection
Trends:400+ solutionsConvergenceSpecializationWhat to watch out for:Harvesting capabilityTargeting capabilitySpam controlsFull Feed use of aggregators
Text Analytic Tools
Trends:60+Specialization: domains and calls to actionProcessing OptionsNatural Language ProcessingMachine LearningEntity ExtractionWhat to watch for:AuditingRule buildingClusteringSentiment tuning
Addressing the Big Issues
CostFront loaded costs but expect savings down the roadAccuracy MythBest in class analytics and auditing ensures higher levels of accuracyScopeLimits of TOM - there is still a role for traditional researchRepresentativenessFull feed is critical but hard to manage
Should researchers embrace social media?
