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Transcript of 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
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
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!
WHARTON , SOCIAL NET WORKI NG DATA , 2009
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
WHARTON , SOCIAL NET WORKI NG DATA , 2009
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
www.whartoninteractive.com
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