Beyond fan pages: How social media can be used to
drive consumer insights for your whole business
Michael Mayers, Vice President, Business Development
12pm CST, Wednesday September 28th 2011 #rnwebinars
Today’s agenda
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What is social media research, where is it right now, and what are the implications for my business?
How can social media research be applied and drive value for my clients?
What should we be thinking about when it comes to using this in my business?
#rnwebinars
Social media monitoring began with corporates and the goal of engagement
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1 million
new members join LinkedIn each month
500,000 videos are uploaded onto YouTube each day
Twitter was averaging
27 million tweets per day at the end of last year
Flickr hosts more than
4 billion images
Purpose built Facebook pages have created more than
5.3 billion fans
At the current rate Twitter will process more than
10 billion tweets this year
70% of bloggers are
organically talking about brands on their blog
78% of 18-21 year
olds trust the opinions of others about products / services rather than traditional advertising
38% of bloggers post
brand or product reviews
Sources: (1) Jake Hird, Econsultancy, 20+ Mind Blowing Social Media Statistics Revisited http://econsultancy.com/blog/5324-20+-mind-blowing-social-media-statistics-revisited (Jan. 29, 2010). (2) Leoni, Joanne PhD. (2010). “Social Media: A Way of Life and Business.” Presentation at the 2010 Florida MRA Education Event in South Beach, FL, April. (3) Wikipedia
Engagement tools become increasingly adopted…
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• Customer education
• Product launch marcoms
• Customer service workflow
• Drive brand loyalty
Engagement
Insights & Planning
• Ad effectiveness & campaign evaluation
• Media, digital strategy planning and modeling
• New Product Development
• Category level insights – U&A
• Brand monitoring & competitive profiling
• Social/behavioral research
• Crisis management
…and now Insight & Planning tools come of age
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Adoption amongst researchers is accelerating into the early majority
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• Innovate by augmenting traditional methods
• Accelerating insights and strengthens client relationships
• Full service providers offer hassle-free integration
• Relatively low total cost of ownership
• Drives competitive advantage
18% of researchers are currently using social media for the purposes of generating consumer insights*
*Source: e-Rewards, Inc. client survey, August 2011
Today’s agenda
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What is social media research, where is it right now, and what are the implications for my business?
How can social media research be applied and drive value for my clients?
What should we be thinking about when it comes to using this in my business?
#rnwebinars
Where should we land…?
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An assessment of the flyer experience
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Competence Accessibility Crowding
Parking
Eating Punctuality
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An assessment of the flyer experience vs peers
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2.5
2.7
2.9
3.1
3.3
3.5
3.7
Competence
Accessibility
Crowding
Parking
Eating
Punctuality
Gatwick Airport Travel Airports
Data collected by Conversition for period 1st February – 1st August 2011
2.5
2.7
2.9
3.1
3.3
3.5
3.7
Competence
Accessibility
Crowding
Parking
Eating
Punctuality
Gatwick Airport Travel Airports
More positive
Gatwick is the airport…but we recommend getting there by car
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RE: Gatwick Express Trains (&London/Brighton) are cancelled [1 Aug reduced
service 2 Aug]...
Gatwick Airport travel chaos as rail line floods after burst water
main...
Trains to Gatwick airport delayed: After leaves and snow on the line,
now it's SAND...
Travelers heading to Gatwick Airport by train faced long delays after a
burst water main caused a landslide dumping tons of sand onto the
tracks...
Verbatims collected by Conversition for period 1st February – 1st August 2011
A look at Bank of America
11 Data collected by Conversition for period January 1st – August 31st 2011
2.9
2.95
3
3.05
3.1
3.15
3.2
3.25
3.3
3.35
3.4
Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11
Overall Sentiment
Bank of America Financial Services Retailers
Mo
re p
osi
tive
Note: Non zero scale
A deeper dive reveals some driving issues
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52%
41%
35% 34% 34%
28% 28% 27%
0%
10%
20%
30%
40%
50%
60%
0
2000
4000
6000
8000
10000
12000
14000
Error Honesty Waiting Intelligence Mortgages Punctuality Fee - Aggregate Bank Loan
Ne
gati
ve S
en
tim
en
t (%
)
Sam
ple
Siz
e (
Vo
lum
e)
Bank of America: Most Negative Themes
% Negative Sample Size
Data collected by Conversition for period January 1st – August 31st 2011
August 8th – 14th: A notable drop in sentiment
13 Data collected by Conversition for period 8th – 14th August 2011
Countrywide folded into Bank of America is the
albatross that won't go away for BAC
GUESS WHAT!!! BANK OF AMERICA TRIED TO FORCLOSE ON A FAMILY THAT HAD PAID CASH FOR THEIR MORTGAGE.
AIG sues Bank of America for $10B over mortgages
State Files Suit Against Bank of America Unit in Foreclosure Mess
They’re knee deep in the prime mortgage scandals
Source analysis reveals planning priorities
14 Data collected by Conversition for period 1st January – 31st August 2011
27% 25% 24% 23% 23%
45% 54% 57% 48% 51%
28% 21% 19%
30% 26%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
facebook.com wordpress.com twitter.com blogspot.com reuters.com
Source Analysis for Bank of America
Positive
Neutral
Negative
Today’s agenda
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What is social media research, where is it right now, and what are the implications for my business?
How can social media research be applied and drive value for my clients?
What should we be thinking about when it comes to using this in my business?
#rnwebinars
#1: Collect relevant data…because customers aren’t as careful with your or your client’s brand as you are
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#2: Exclude the wrong data...because a key word search is not a brand search
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#3: Someone must sense-check the data in context… because customers shooting each other is a bad thing (unless the subject is online gaming)
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#4: Weight the data properly… because the Twitter Firehose sounds cool, but not if you are trying to get a balanced view from consumers
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#5: Sit on the right side of the privacy debate… because guidance may turn into legislation
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About Conversition
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• Founded: 2009
• Offices: New York, Toronto
• Corporate parent: Part of the e-Rewards, Inc. group and a partner company to Research Now
• Focus: The needs of the agency or corporate market researcher
• Corporate mission: To provide clients with trustworthy social media research data from which you can draw rich insights and drive competitive advantage for their business
Email us at: [email protected]
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Thank you for your time
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Q&A
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