Academically-Practical and Practically-Academic

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Academically-Practical and Practically-AcademicLearnings in Interactive Media

Wharton Interactive Media Initiative

www.whartoninteractive.com

Steve EnnenManaging Director,

Wharton Interactive Media Initiative &Wharton Lab for Innovation in Publishing,

Lecturer in Marketing


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WI MI O VERVIEW

Brings a passionate data-driven perspective to media businesses (content distribution and

information acquisition) in a way that no other business school in the world can match.

Distinguishes itself with a tight focus on the interaction between content provider and user,capitalizing on the wealth of individual-level data that is exploding at the crossroads of

commerce, technology, and entertainment.

Is dedicated to bringing world-class research rigorto better understand these complex

interactions in order to drive new business strategies and tactics that will reshape the

media landscape.

W H A R T O N I N T E R A C T I V E M E D I A I N I T I A T I V E

WIMI is a global research center

working with leading companies and researchers


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WI MI G LO BAL I NF RAST RUCTURE

Global network of research partners


Wharton Lab for

Publishing Innovation WIMIResearch,Student Placement

Interns,Partners


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ACADEMICALLY PRACTICAL INTERACTIVE MEDIA 2009-10

Social Networking: Jan 2009Impact and Emergence of UGC:

Dec 2009

Cross-Platform Data: Dec 2010Mobile Marketing: 2011


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C O MI N G I N D E C E M E B E R 2 0 1 0

Modeling Consumer Behavior in Social Media: Analyzing the Role ofGeographical Location and Multichannel Usage in Microblogging Platforms

AnindyaGhose and Sang Pil Han

***

Seller Strategy in B2B Multichannels: Auctions, Buy-Now Pricing, and PriceDiscovery

ErnanHaruvy, Sandy D. Jap, and RobertZeithammer

***

Multichannel Customer Behavior in Customer Support ServicesKinshukJerath, AnujKumar, and SergueiNetessine

***

How TV Advertising Affects Online SearchMingyuJoo, Kenneth C. Wilbur, and Yi Zhu

***

Investigating the Impact of Multiple Communication and Marketing Mix

Elements in a Multichannel EnvironmentAshish Kumar, Ram Bezawada, andMinakshiTrivedi***

Modeling Multichannel Media Consumption: Multiplexing, Consumption &Evolution

Chen Lin and Douglas Bowman


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A Few Company Participants

Interface seems pretty practical

ACADEMICALLY PRACTICAL INTERACTIVE MEDIA 2009-10


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DOES TH E GREAT DIVIDE R EALLY EXIST?

Academics Practice

Academically-Practical Practically-Academic


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Improved Predictionso Social network data helps to improve predictions of behavior above and beyond just

behavior

Popularity and Activity correlated across relationshipso More popular social networkers are also more active

Online popularity is a more important correlate of online behavior than offlineo Online predicts online better than offline predicts online

>

+ >

WHARTON , SOCIAL NET WORKING DATA , 2009:

Ansari, Koenigsberg& Stahl Modeling Connectivity in Online Networks


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Give Lower Price to A to Exploit BMaximize Total Dollars not Myopic Dollars

-1 -0.5 0 0.5 1 1.5 2 2.50

20

40

60

80

100

120

ax imum

ocial Interaction Effect in the

roup

LowestPrice

Charged

to

a

em

berofthe

roup

-1 -0.5 0 0.5 1 1.5 2 2.550

100

150

200

250

300

350

400

450

500

ax imum

ocial Interaction Effect in the

roup

reatestPrice

Charged

to

a

em

bero

fthe

roup

A BSocial Influence

Social Multiplier

Hartmann

Econometric Modeling ofSocial Interactions (Golf Data)

WHARTON , SOCIAL NET WORKI NG DATA , 2009

Community Building


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Free Gets You

Up The Charts

But, Free is Free!

Popularity begets

popularity; but

how do you get it?

PRICING DIGITAL CONTENT(IYENGAR,ABHISHEK, BRADLOW 2007)

Freemium


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SOCIAL NETWORKS AND MASS MARKETING


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vs

Network Intervention In each city, the physician withthe highest in-degree is targeted and is persuaded to

increase his/her prescription by 10 units

Detailing Intervention Each physician is given an

additional detail.

Managerial Calculus

Higher Effectiveness

Influencers work locally!


Iyengar, Van den Bulte, Valente

Opinion Leadership and Social Contagion in New Product Diffusion


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C U T T H R O U G H T H E C L U TT ER


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Customer

equity(NPV A)

Social equity of

community

No community $436.97

A has a

community

$515.32 $78.5 (18%)

A technique for complex system modeling, which simulates global

phenomena based on local interactions between units.

A technique for complex system modeling, which simulates global

phenomena based on local interactions between units.

Each unit represents an individual member in the social networkEach unit represents an individual member in the social network

Each linkrepresents a communication tie between membersEach linkrepresents a communication tie between members

At each point in time members can decidewhether to adopt a new product or to

remain non-adopters

At each point in time members can decidewhether to adopt a new product or to

remain non-adopters


Libai, Muller, and Peres

Untangling CustomerSocial Equity via Agent Based Models

Monetizing Your

Community


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W HY IS IT IMPORTANT TO LEARN FROM UGC?

Public

Free

Spontaneous

Passionate Evolving and live

Temporally disaggregate

Consumers self-select


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Bayus

Crowdsourcing New Product Ideas

The goal is for you, the customer, to tell Dell what new products or services

youd like to see Delldevelop.

Daily: Feb 2007 Feb (June) 2009

7,100+ ideas

4,300+ ideators

170 ideas implemented (outcome)

Variables Model

Prior Experience

# prior good ideas

# prior reviewed ideas

# prior ideas

# prior comments

NS

NS

NS

NS

New product ideas and their

ideators are not easily predictable

W H ARTON R ES EA RC H O NU GC, 2009


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Text mine consumer postings

Use network analysis framework

and other co-occurrence

methods of analysis to reveal theunderlying market structure

compact sport old

Audi A6 67 345 56

HondaCivic

1384 539 245

ToyotaCorolla

451 128 211

Is classic Marketing

Research dead?

W HA RTO N R ES EA RC H ON UGC , 2009

Feldman, Goldenberg, Netzer

Mine YourOwn Business: Market Structure Surveillance


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Stock Price (adjusted)

UGC Chatter

ChatterConsumer

Opinion

Negative

Chatter

Negative

Expressions

Short

Term

Cum Short

Term

Cum Short

Term

Cum Short

Term

Cum

Stock Returns ** 3.8 4.8 -2.1 -3.6 -2.9 -3.9 -3.7 -4.7

You can take UGC to the Bank

W HARTON RESEARCH ON U GC, 2009

Tirunillai and Tellis

Does Chatter Really Matter? Dynamics of User-Generated Content and Stock

Performance


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Soft metrics meaningless or close to meaningless

Faux metrics fabricated by technology

Data deluge

Confusion

CHALLENG ES T O MEASUREMENT

Impact is clear, but measurement can be challenged by

noise


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Engagement

(noun, verb, not a single metric)

Seriously though, I am surprised that your analysis pegs me as one

of the most engaged users to your site. I subscribe to your RSS feed

via Yahoo, and eventually get around to reading each new posting,

but my access is very occasional. Your email to me was the first that I

was aware of the posting.

posting on analytics site by its most engaged visitor

C U T T H R O U G H T H E C L U T T E R


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The data collection radically increases speed through

Real time measurement

T O M O R R O W S M E A S U R E M E N T

The next challenge


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T O M O R R O W S M E A S U R E M E N T

Real-time measurement


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ME AS U RI N G T H E R EA L - T I ME W EB


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ME A S U RI N G T H E R EA L- T I ME W EB


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Four failures of measurement & analytics

1. Information is ineffectively shared within the organization

- Everyone in the strategic process needs to know

2. Goals and the metrics themselves are poorly defined -

You should not be spending money or building

campaigns just to bring people to your site, you must

bring people to your site with a specific goal in mind

ME AS UR I N G S OC IA L ME DI A S UC CE S S


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Four failures of measurement & analytics

3. Companies either dont take action or take improper

action on results

The secret to truly successful marketing is actionable

measurement. Measuring your results alone isnt enough; the key

to feeding them back into your sales and marketing process.

4. No holistic or cross-platform synchronization

ME AS UR I N G S OC IA L ME DI A S UC CE S S


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It is all about the data!o In many cases, practitioners have it academics want it.

o Scraping programs mean we can now all have it and in real-time.

Convergence of problems between academia and practice, in theinteractive media space, has never been higher.o Advances still need to be made on scale of academic methods.

S U M M A R Y


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WHARTO N I NT ERACTI VE MEDI A I NI TI AT IVE

[email protected]

www.whartoninteractive.com


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