© 2006 Confidential | intelligent marketing & technology solutions
Social Media Monitoring - Key to understanding
your customers without investing in expensive Market
Research!Hardy Alexander, General Manager Regalix India
October 14th, 2009
Presenter: Hardy Alexander
General Manager, Regalix India
Over 17 yrs experience in Sales & Marketing across various industries such as Manufacturing, Logistics & Supply Chain and Digital Marketing
Vast experience of Business Development across global markets, especially with start up projects
Currently responsible for managing the Bangalore branch office as a profit center
Qualification: Masters Degree in Marketing and an Engineering Major in Metallurgy
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DefinitionSocial Media Monitoring – Why is it
important?Social Media Measurement ProcessManagement Buy-in – Next Steps?Case Study – Banking SectorAbout Regalix
Social Media Monitoring
Getting a Better Understanding: Definition
Media Monitoring is the activity of monitoring the output of the print, online and broadcast media.
The monitoring of online consumer sources such as blogs, forums and social networks is more specifically known as Buzz Monitoring or Social Media Monitoring.
Buzz monitoring is the keeping track of consumer responses to commercial services and products, to establish the marketing buzz surrounding a new or existing offer.
“It is also comparatively inexpensive compared to other market research tools”.
© 2006 Confidential | intelligent marketing & technology solutions Source: Wikipedia 4
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DefinitionSocial Media Monitoring – Why is it
important?Social Media Measurement ProcessManagement Buy-in – Next Steps?Case Study – Banking SectorAbout Regalix
Social Media Monitoring
Social Media Landscape: Explosive Growth
6 Image Source: fredcavazza.net© 2006 Confidential | intelligent marketing & technology solutions 6
US Marketers Plan for Online Marketing Budget in 2009
© 2006 Confidential | intelligent marketing & technology solutions Image Source: Permission TV, Dec 2008 7
Social Media Monitoring: Why is this Important?
Consumer Opinion can:Create a new series of metrics that tracks your brand’s
performance. For Example, so what if your banner campaign flopped? You might be the most
discussed brand on Twitter or YouTube.
Unprompted opinions tend to be more sincere. New truths will emerge from this raw data and hopefully new opportunities as well.
Instant feedback on marketing campaigns Does before and after testing get any faster?
Monitor people’s thoughts on your competitors.
“Watch what your investors might be discovering about your brand so you can fix problems before they become an issue.”
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Are Companies Adequately Measuring Social Media Initiatives?
© 2006 Confidential | intelligent marketing & technology solutions Source: MarketingProfs.com, 2009 9
Social Media: Tough to Measure?
“It may be simpler than you think.”
Attention: The amount of traffic to your content for a given period of time.
Participation: The extent to which users engage with your content in a channel.
Authority: The inbound links to your content.
Influence: The size of the user base subscribed to your content.
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Social Media Monitoring: How to Approach?
“Here are a few ways to consider measuring Social Media ROI for your business”
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DefinitionSocial Media Monitoring – Why is it
important?Social Media Measurement ProcessManagement Buy-in – Next Steps?Case Study – Banking SectorAbout Regalix
Social Media Monitoring
Sample: Social Media Measurement Process
© 2006 Confidential | intelligent marketing & technology solutions
Define what is trying to be accomplished and how we’ll know if we have succeeded
Online social strategy and insight and optimization approaches to achieve goals
Enumerate social tactics and measurement establishment methods for program
Implement and launch program ensuring proper execution and accurate performance data collection
Synthesize social media performance drivers and identify actionable opportunities for program adjustment
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Sample: Social Media Metrics Framework
Goals Objectives Metrics
Deepen relationship
with customers
• Achieve a critical mass of audience through social media
• # of advocates (Fans, Followers, Authors)• # of comments posted
• Encourage ongoing interaction with the brand
• Comments / Advocates• Advocate influence profile
Learn from the
community
• Uncover common themes among interactions
• Rank of topics discussed• Decipher positive vs. negative sentiment
Drive Purchase
intent
• Persuade engagement with website content and utility
• Leads to ecommerce partners• Retail locater results activity• Product brochure download
© 2006 Confidential | intelligent marketing & technology solutions
Types of Activities: Map measurement objectives to project or business goals
Identify specific key performance indicators (KPI) that align with objectives
Establish performance benchmarks or targets to gauge success
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Sample: Social Media Measurement Process
© 2006 Confidential | intelligent marketing & technology solutions
Define what is trying to be accomplished and how we’ll know if we have succeeded
Online social strategy and insight and optimization approaches to achieve goals
Enumerate social tactics and measurement establishment methods for program
Implement and launch program ensuring proper execution and accurate performance data collection
Synthesize social media performance drivers and identify actionable opportunities for program adjustment
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Sample: Social Media Analysis Construct
© 2006 Confidential | intelligent marketing & technology solutions
Pillars of Social Media Measurement
Reach Discussions Outcomes
Quantity
Scale and Activity of
the fan base
Quality
Where on the social Web
discussions about brand
occurs
Topics
What are authors on the social
Web talking about in
terms of a brand or its
product attributes
Sentiment
Adding value to the
audience and cultivating
relationships through
conversation can influence perceptions
Site Traffic
Site Engagement
acts as a proxy for purchase intentions
Purchase Intent
Leads or purchases form the
most relevant
aspect to the brand
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Sample: Social Media Measurement Process
© 2006 Confidential | intelligent marketing & technology solutions
Define what is trying to be accomplished and how we’ll know if we have succeeded
Online social strategy and insight and optimization approaches to achieve goals
Enumerate social tactics and measurement establishment methods for program
Implement and launch program ensuring proper execution and accurate performance data collection
Synthesize social media performance drivers and identify actionable opportunities for program adjustment
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Sample: Social Media Insight Tools and Data Sources
© 2006 Confidential | intelligent marketing & technology solutions
Centralize all publicly accessible discussions across the social Web
Provides insight into a brand’s Web site visitor behavior
Provides access to key social insight activities not readily available in the mainstream ELP
Semi-automate the process of deciphering the meaning of social comments
Image Source: Journal of Interactive Advertising 18
Sample: Social Media Measurement Process
© 2006 Confidential | intelligent marketing & technology solutions
Define what is trying to be accomplished and how we’ll know if we have succeeded
Online social strategy and insight and optimization approaches to achieve goals
Enumerate social tactics and measurement establishment methods for program
Implement and launch program ensuring proper execution and accurate performance data collection
Synthesize social media performance drivers and identify actionable opportunities for program adjustment
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Social Media Measurement Process: Deployment
Conduct ‘Quality Assurance’ (QA) of data collection methods
Validate performance reports are complete and accurate with expectations
Build data infrastructure needed by aggregating multiple data sources
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Social Media Measurement Process: Optimization
© 2006 Confidential | intelligent marketing & technology solutions
Evaluate the program performance against the KPIs
Diagnose drivers of performance to date
Identify opportunities for program enhancement by developing a holistic picture of social activities and their impact
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DefinitionSocial Media Monitoring – Why is it
important?Social Media Measurement ProcessManagement Buy-in – Next Steps?Case Study – Banking SectorAbout Regalix
Social Media Monitoring
What Next?
“ROI = (Gains – Investment Costs) / Investment Costs”
Is that it?
© 2006 Confidential | intelligent marketing & technology solutions
The Magnitude of Change One billion people are online – expected to double by 2011 Every Day 500,000 new users come online for the first time Content is exploding
The Value of Personal The move from ‘objective’, fact-based, third party reporting and
commentary to individual, ‘subjective’ and ‘crowd sourced’ perceptions is very powerful
Connecting with Customers Since when did any business not want to connect with its customers?
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© 2006 Confidential | intelligent marketing & technology solutions 24
DefinitionSocial Media Monitoring – Why is it
important?Social Media Measurement ProcessManagement Buy-in – Next Steps?Case Study – Banking SectorAbout Regalix
Social Media Monitoring
Case Study: World’s Leading Bank
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Media Monitoring Activities Competitor Product Mapping (Loans, Interest Rates, etc.) Tracking customer complaints/feedback on product/services Monitoring both +ve & -ve conversations about the company Tracking % share of social media conversations vs. competitors Identifying forums with most banking discussions Identifying most talked about category (Loans, Insurance, etc.) Consolidating news on banking/financial sector Landscape monitoring (Competitor banner ads)
Case Study: Client Benefits
ResultsIdentified key product issuesHelped address customer complaintsIdentified key customer themes to create messaging
LeverageExpansion of Search Key Words to improve lead volumeIncrease banner ad click-through by better targetingTweak product messaging
26© 2009 Confidential | Think Innovation
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DefinitionSocial Media Monitoring – Why is it
important?Social Media Measurement ProcessManagement Buy-in – Next Steps?Case Study – Banking SectorAbout Regalix
Social Media Monitoring
About Regalix
Full-Service: Digital Marketing & Technology
Talent: Leadership, Advisory, 150+ Team
Customers: Fortune 500 and Venture-Backed
Verticals: Retail, Hi-Tech., Finance, Healthcare
Global: HQ in Silicon Valley, 4 Offices
Recognition:
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Domain Expertise
UCLA
xignite
ICICIBANK
29© 2006 Confidential | intelligent marketing & technology solutions
If you have any questions about Social Media, Twitter, Facebook, and Digital Marketing, please contact Brendan Farnell: [email protected]
Regalix Social Media Jump Start Plan
Service Contact
Our marketing practitioners will analyze your current marketing program and business model, and give you a comprehensive social media strategy tailored to your specific needs – The plan will include objective, tactics and outcome expected.
Please contact:Namrata Kumar
30© 2006 Confidential | intelligent marketing & technology solutions
Thank You
31© 2006 Confidential | intelligent marketing & technology solutions
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