Analyzing your market: How Big Data plus Social Equals Better Engagement
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Transcript of Analyzing your market: How Big Data plus Social Equals Better Engagement
© 2013 IBM CorporationApril 7, 2023
Analyzing your marketHow big data + social equals better engagement
Ed BrillDirector, MarketingIBM Software [email protected]@EdBrill
© 2013 IBM Corporation2
Big data is moving beyond the hype
from surveillance cameras trade events per second
meter readings per annum
Analyze product sentiment
Predict power consumption
Monitor events of interestIdentify potential fraud
Prevent customer churn
call detail records per hour are images, video, documents…
Improve customer satisfaction
Volume Velocity Variety
5 100’sof Tweets create daily
12 terabytes
video feeds
million
350 billion 1.5billion 80% data growth
© 2013 IBM Corporation3
“At the World Economic Forum last month in Davos, Switzerland, Big Data was a marquee topic. A report by the forum, “Big Data, Big Impact,” declared data a new class of economic asset, like currency or gold.
“Companies are being inundated with data—from information on customer-buying habits to supply-chain efficiency. But many managers struggle to make sense of the numbers.”
“Increasingly, businesses are applying analytics to social media such as Facebook and Twitter, as well as to product review websites, to try to “understand where customers are, what makes them tick and what they want”, says Deepak Advani, who heads IBM’s predictive analytics group.”
“Big Data has arrived at Seton Health Care Family, fortunately accompanied by an analytics tool that will help deal with the complexity of more than two million patient contacts a year…”
“Data is the new oil.”
Clive Humby
The Oscar Senti-meter — a tool developed by the L.A. Times, IBM and the USC Annenberg Innovation Lab — analyzes opinions about the Academy Awards race shared in millions of public messages on Twitter.”
“Data is the new Oil”
“…now Watson is being put to work digesting millions of pages of research, incorporating the best clinical practices and monitoring the outcomes to assist physicians in treating cancer patients.”
In its raw form, oil has little value. Once processed and refined, it helps power the world.
© 2013 IBM Corporation4
e.g. use Hadoop infrastructurefor storing
historical informatione.g. personalize co-marketing
offers based onlocation information
e.g. optimize supply chain with sensor data and warranty claims
e.g. customer 360o includingsocial media data
Multimedia
Sensor & Network DataWeb & Social
Interaction Data
TransactionHistory
Text, Content & Documents
Big data brings opportunities for new insight
Gain morecomplete answers Create new perspectives
Uncover new business opportunities
Reduce IT costs
4
© 2013 IBM Corporation5
Big Data is a Hot Topic Because Technology Makes it Possible to Analyze ALL Available Data
Cost effectively manage and analyzeall available data in its native form
unstructured, structured, streaming
ERPCRM RFID
Website
Network Switches
Social Media
Billing
Cost efficiently processing the growing Volume
50x
35 ZB
20202010
Responding to the increasing Velocity
30 Billion RFID sensors and counting
Collectively analyzing the broadening Variety
80% of the worlds data is unstructured
Establishing the Veracity of big data sources
1 in 3 business leaders don’t trust the information they use to make decisions
© 2013 IBM Corporation6
Single viewBusiness Data,
Social Data, Interactive data
Giving smarter relations and transactions for all users across (integrated) channels means better results.
Big Data and Social Business
+Data
+Data
+Data
© 2013 IBM Corporation7
Single viewBusiness Data,
Social Data, Interactive data
Social business & Big Data engament components
- Multichannel customer experience building trust through efficient real time cross-channel experience, and personalized /
intelligent interactions.
- Social business building relations by knowing the customer through profile acquisition, social data acquisition, controlled social interactions
- Digital analytics and marketing automationMonitoring users behavior and automating interactions through individual lifetime data collection, segmentation, targeting, automation.
Big Data and Social Business
© 2013 IBM Corporation8
360-degree Consumer Profiles from Social Media
Personal Attributes• Identifiers: name, address, age,
gender, occupation…• Interests: sports, pets, cuisine…• Life Cycle Status: marital, parental
Products Interests • Personal preferences of products• Product Purchase history• Suggestions on products & services
Life Events• Life-changing events: relocation,
having a baby, getting married, getting divorced, buying a house…
Monetizable intent to buy products
Life Events
Location announcementsIntent to buy a house
I'm thinking about buying a home in Buckingham Estates per a recommendation. Anyone have advice on that area? #atx #austinrealestate #austin
Looks like we'll be moving to New Orleans sooner than I thought.
College: Off to Stanford for my MBA! Bbye chicago!
I'm at Starbucks Parque Tezontle http://4sq.com/fYReSj
I need a new digital camera for my food pictures, any recommendations around 300?
What should I buy?? A mini laptop with Windows 7 OR a Apple MacBook!??!
Timely Insights• Intent to buy various products • Current Location• Sentiment on products, services,
campaigns• Incidents damaging reputation• Customer satisfaction/attrition
Relationships• Personal relationships: family, friends
and roommates…• Business relationships: co-workers and
work/interest network…
© 2013 IBM Corporation9
Big Data Analytics to expand knowledge about customer profiles and measuring marketing campaign• Analysis of social media messages for large Media and Entertainment company to determine
reaction to movie commercials aired during the SuperBowl
• Insights based on 30M+ social media consumer profiles created by analyzing over a Billion messages
• Real-time evolution of insights correlated with the airing of the commercialKey Business Questions:
How many people are talking about the film ?• Intention to see the movie, Impact of
SuperBowl commercial
Who are they ?• Demographics, Influencers, avid movie
goers
What is the reaction ?• Categorized sentiment (plot, characters, …)• Comparison with competitive movies
Buzz Amongst Avid Movie-Goers Jan - Feb
The Lorax
Project X
John Carter
The Dictator
The Dark Knight Rises
Battleship
Spider-man
G.I. JoeGhost Rider
The Avengers
Act of Valor
Think Like a Man
21 Jump Street
Buzz Amongst Avid Movie-Goers During Super Bowl
Project X
John Carter
Battleship
Ghost Rider
21 Jump Street
The Dark Knight Rises
G.I. Joe
Spider-manThe Avengers
Act of Valor
The Lorax The Dictator
10% 20% 30% 40% 50% 60% 70% 80% 90%
Battleship
The Dictator
Gender
Top 10 Markets
Gender
Top 10 Markets
Female Male
Female Male
Gender
Top 10 Markets
Female Male
Act of Valor
Competitive Intelligence
Consumer demographics by movie
Comparing feedback by important microsegment (avid movie-goers)
© 2013 IBM Corporation1010
Business Models based on connecting Virtual and Real Words: the AMEX model
American ExpressSmart Offer
A portal that collects special offers and discounts from
retailers and detail about the customer segment that is
target
Marketing segmentation engine that evaluate
customer profiles and select the best coupon to propose
Moble app and connection with Twitter, Facebook e
Foursquare to communicate with the customers and
enable viral effects
Just virtual Coupons are managed! Customers activate the coupon and receive on montly basis on the credit card account the equivalent of the coupon discounts after that transactions were registred
© 2013 IBM Corporation11
Putting Clients First – Where Are We?Success Metrics 2006 2010
Online Banking Active Clients 1x 1.8x
Synovate Online Banking Satisfaction 5th 2nd
Surviscor Email Benchmarking 13th 1st
Dalbar Ranking – Direct Investing n/a 1st
Forrester Online Banking Secure Site 3rd 1st
Forrester Online Banking Public Site 5th 1st
Online Sales 1x 2.9x
Online Service Transactions* 1x 2.0x
RBC Digital Strategic initiatives
- Improve the Online client experience and promote Online as primary service channel
- Expand breadth of services and capabilities
- Foster greater acquisition and growth orientation
- Improve information and channel management and develop enabling infrastructure
Social Intelligence- Personalized base on analytics- Customer service experts- Crowdsourcing on new productsCustomer sat: #5 to #1*
Example: RBC Capturing Prospect/Customer digital information for customer relation and marketing automation
Single viewBusiness Data,
Social Data, Interactive data
Big Data and Social Business
© 2013 IBM CorporationApril 7, 2023
An IBM View of Social Business
© 2013 IBM Corporation13
Bringing social tools into the enterprise
200 million tweets sent via Twitter per day
30 billion pieces of content are shared on Facebook each month
Wikipedia hosts 17 million articles
Find and share information instantly
Rise of social networking and mobile devices
People are empowered like never before
66% of online adults use social media platforms such as Facebook, Twitter, MySpace or LinkedIn
Smartphone and tablet shipments now outpace PCs
41% of GenY say social media is important to them in the workplace
64% of GenY download unauthorized applications at least once a week to get their job done
Source: Prescient DigitalSource: 20 Stunning Social Media Statistics, Written by Jeff Bullas
Source: Pew Internet & American Life ProjectSource: IDC Predictions 2 012 : Competing for 2 020
© 2013 IBM Corporation14
Traditional roles and processes across the business network are evolving, forever changing the way organizations operate
leading the conversations that define brands
self-forming teams around fast moving opportunities
becoming on-demand extensions of the enterprise
As barriers between people disappear, organizations are learning to tap into collective intelligence, advocacy and distributed talent to drive business results.
Employees Customers Partners
© 2013 IBM Corporation15
A social business optimizes interactions among people to gain a competitive advantage
By removing barriers, a social business allows people to apply expertise and insights that improve and accelerate results across business functions:
Customer Care and Insight
Product and Service Innovation
Workforce Optimization
EngagedTransparentAgile
© 2013 IBM Corporation16
Forrester model of social software adoption
http://blogs.forrester.com/gina_sverdlov/12-01-04-global_social_technographics_update_2011_us_and_eu_mature_emerging_markets_show_lots_of_activity
© 2013 IBM Corporation17
IBM is a social business
Workforce Optimization
IBM Human Resources utilizes social media for recruiting, employee education, sales training and leadership development.
Customer Care and Insight
To gain insight, IBM’s social sellers use social media monitoring applications to feed information about clients, prospects and competitors directly to their desktops.
Product and Service Innovation
Reducing project completion time by 30 percent, increasing re-use of software assets by 50 percent and cutting component costs by 33 percent.
© 2013 IBM Corporation18
IBM Social Computing Guidelines
http://ibm.co/yW8Jbh
• Written collaboratively with IBMers in 2005
• Provides both permission and direction
• Clarifies roles for employees
© 2013 IBM Corporation19
Not every IBMer is familiar with social media.
We’ve created training & guidelines on a range of topics – from Connections to social media basics to cybersecurity – as well as a recommendation engine, rewards & tracking, and strategic, sharable content.
Digital IBMer Hub
© 2013 IBM Corporation20
SME Eminence
KPIs KPI Definitions Metrics
Engagement
Reach
Amplification
Conversion
Marketplace interactions with content published by SMEs
Individuals online who have opted into SME communications
Marketplace sharing and redistribution of SME content
To be defined per the business objective / need. An example would be registrations on ibm.com yielded from SME social accounts
ViewsLikesCommentsLikesComments@mentionsClicks
SubscriptionsVisitorsVisitsSearch RankConnectionsFollowers
SharesInbound LinksRetweets
Registrations
The IBM SME Progress Report measures metrics that matter.
2020
© 2013 IBM Corporation21
Curation – The value of authentic voice
© 2013 IBM Corporation22
Opting In
Why Social Business? The Social Product Manager Self, Product, and Company Offense or Defense Picking a Fight Activate Your Advocates Tools of the Trade In Real Life Social Inside the Organization Risk Management in Social Business Putting Opting In into Practice Appendix: IBM Social Computing Guidelines
© 2013 IBM CorporationApril 7, 2023
Thank you!
[email protected]: @edbrillFacebook: facebook.com/edbrilldotcom