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?