Social Analytics
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Transcript of Social Analytics
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Social Intelligence : Connecting consumers to brands
Your brands are what friends talking at Social Networks and not what your Marketing publishing/ writing about.
Consumers wants a VIP Experience with their favorite brands.
How being liked can lead to potential customers and help retain their loyalty later.
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Traditional business processes
Often hierarchal and siloed, but critical to business goals and success
Product Mkting Sales Services
Corporate Strategy
Information Systems
Human Resources
Finance & Administration
Unstructured social interactions
that streamline communication, enhance relationships, etc.
The Social Organization
Social organizationsTransformed business processes
that improve productivity, efficiencies & revenue growth
Services
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Social Media- Foundation for Collective Wisdom
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Social Intelligence: Enabling Business in The New Normal
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Social Networks is changing the way Business connect with customers
What Banking needs to know today.1. How can I engage with my customer, understand their needs and link this to our
value-add services?
2. Who is creating content and influencing the “conversations” about our: Products, pricing, promotions, marketing, and advertising? Competitors pricing, products, and promotions?
3. How do we compare with the competition? Terminology associated with brand and image, quality, campaigns
4. Who are the key authors, influencers, and content creators? What URL/ domains are most active blogs, micro-blogs, twitter, posting photos, and posting
videos?
5. What is the sentiment? Is it good, bad, good and bad, or neutral?
Social media isn’t a choice anymore –it’s a business transformation tool.”
Natalie Petouhoff, Forester Research
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Today’s Customers…Multiple Sources, Multiple Channels… Connected
Listen and Learn Engage & Respond Connect & Grow
Omni-channel touch-points – store, online, social networks, mobile, games
Flexibility: engage across channels Personalized experience, contextual Social shopping
Build brand awareness Build customer loyalty Feed ideation and innovation Micro-marketing Be part of the community
Social analytics research Get input from friends on social networks Competitive Intelligence Contact Intelligence
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Social Intelligence across the organization
Create competitive advantagesKnow the voice of the people across channelsIdeas and innovation inform decision making
Review analysts report Publish / subscribe to content and authorsGoverned process to moderate social dialogknowledge sharing across communities
Continuously monitor unstructured contentCollaborate with business owners
Prepare and publish findings
SR Executive
Subject Matter ExpertsMarketing & Research
Functional Team Customer Services
(Sales, Marketing, HR)
Analysts
Monitor campaign performanceAdjust campaign strategies across channelsQuickly source and promote ideas and innovation across
communities of practice
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Applying Social Analytics – Example Banking
Banking
Encompass a variety of financial products
Deposit accounts, consumer loans, home loans, tailored accounts, credit/ debit cards, ATM, demat facilities, money market accounts, wealth management, Forex trading
Online bill payments, transfer of funds, certified payment
May also include cross-selling in insurance and financial markets
Mutual funds, securities
Need
Banks need to attract customer, understand their needs, map their needs to the right services
Initial Assumptions
Customers needs are difficult to identity as we do not have access to really know them well unless they visit our facilities
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Connecting our customers to the right products
Apply BI 2.0 Social Analytics to Leverage Social Media more effectively
“Listen” by reading the online content “chatter” Identify demographics that are creating the most content about specific products and services Create customer-focused messages around our products Engage with the customer online within communities forums
“Learn” The sites, blogs, forums that are most active around your products
More than comparing interest rates, compare what people relate in terms of overall services
The people who are influencing the conversation and why
The ideas, suggestion, opinions, relevant to cross-selling financial products and services
“Engage” Interact online with key influencers Learn to “chat”, micro-blog (tweet) at the right time Be part of the group and community
Use Social Analytics to identify the right audience and focus marketing campaigns
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Pre-purchase • Anytime, anywhere
• Multi-channel – store, online, social networks, mobile, games
• Flexibility: buy online, pickup in store• Personalized experience, contextual
• Sales, Promotions, newsletters• Professional communities
• Business to community, write reviews, contribute ideas
• Use of devices shop and research• Get input from friends on social networks• Read reviews, ratings, experiences• Compare prices, search coupons
Purchase On-going contact
Social Media Listening and Response Center
Next generation Contact Center• Social Media growing constantly• Exponential increases in customer “touch-points”• Providing the integration need to know your customer
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Analyzing consumers interests- Facebook
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Analyzing consumers segments
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Analyzing consumers segments
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Analyzing consumers segments
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Analyzing consumers segments
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Analyzing consumers segments
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Analyzing consumers segments
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Leveraging social networks to grow your business
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Enables marketing messages reach to most potential consumer segments
Helps to create messages aligned to consumers interests
Helps to change product designs and even supply in alignment with market sentiments
Keep consumer engaged with product brands while delivering personalized experience
Helps to make CRM operations more efficient & effective
Can fuel new product innovations by allowing consumers to participate in product design ideas
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