Social Media Data is Sexy Again: Journey from the Trough of Disillusionment to Era of ProductivityMia Dand

CEO, Lighthouse3

Mia Dand@MiaD #DataSym

Top Rank's list of "25 Women That Rocked Social Media in 2013

What we do. Lighthouse3 is a strategy consulting agency based in San Francisco Bay area. We help global brands maximize the ROI on their digital and social media investments by organizing and optimizing their internal operations.Our clients include Fortune 1000 companies and pre-IPO startups.

Customers Brand. Social Media Revenue

Increase ROI + Business Growth

Organize People + ResourcesOptimize Programs + Processes + Technology

What does a highly organized & optimized team look like?

Social Data Success = Shorten the Path from Discovery to Purchase.

Why are we here?

Perfect Data Tsunami!

Every day, we create 2.5 quintillion bytes of data. 1,000,000,000,000,000,00090% of the data in the world today has been created in the last two years alone. This data comes from everywhere: sensors used to gather climate information, posts to social media sites, digital pictures and videos, purchase transaction records, and cell phone GPS signals to name a few.

This is big data. ~IBM

~ Domo.com

Your Brand

Changing Social Media Landscape

The Shift

Explosion of Social Technologies

Gartner Technology Hype Cycle

Modified - Gartner Technology Hype Cycle

Gartner’s Hype Cycle http://algoso.org/2014/01/02/hype-cycle-for-development-ideas-2014-edition/

Hype Cycle – New Emerging Technologies

Content Analytics

Big Data

Hype Cycle – Digital Marketing Technologies

Web AnalyticsData Management Social AnalyticsPersonalization

Changing User Behavior

APAC data – Jan 2014, We Are Social

Meet your average user in 2014

http://www.statisticbrain.com/attention-span-statistics/

Attention span in 2000 – 12 seconds

Attention span in 2013 – 8 seconds

http://www.statisticbrain.com/attention-span-statistics/

www.mirror.co.uk

http://www.statisticbrain.com/attention-span-statistics/

Attention span in 2013 – 9 seconds

Internal state of your organization

#1 Social data exists in silos

Multiple departments own social media.

Altimeter Group

Product defect = Unhappy Customer = Support issue =

Marketing Problem

#2 Lack of right technology to analyze the data

Best social technology?

For companies..

What is the business need?

How many users?

How many customers?

Which languages?

Which channels?

What data sources?

What technical resources?

Integration with internal systems?

Budget?

Build vs. Buy

Expertise!

- Big picture lead - holistic vision

- Optimization lead - testing

- Business Analyst - who understands the data & repot

- Data scientist - models & framework

#3 Data is not actionable

49% of CMOs say they aren’t able to quantify whether social media has made a difference for their companies.

Aug 2013 CMO survey http://www.cmosurvey.org

Big data without the right strategy and technology to analyze it, is

just big noise.

What is strategy?

Use of data to create unique competitive advantage.

Social Data Strategy?

Altimeter Group

Social Data Maturity Map

#1 Build your strategy

#2 Find the right technology

#3 Get buy in & support - $$$

Where do we start?

Expand into new markets

Attract new user segment

Grow customer loyalty

Launch a new product

Increase salesGrow awareness

Change sentiment

Uncover product issues

Increase revenues

What business problem are we solving for?

Set up for success

Analyze Act

Insights Report

Data source

#1Data

Source #2

Data Source

#3

Programs Processes

People

Organize Optimize

Business Outcome

Organize: Social data sources

Comments

Posts

TweetsLikes

SharesReTweets

FollowersPhotos Videos

What data do we already have?What do we need to gather?

How will we use it?

How will we secure it?

What people/resources do we have?

What processes will we leverage?

Which technology do we need?

Organize: Data governance & resources

Organize: Other data sources

Organize: Aggregate data sources

Build/Use Own Database Social Technology Database

Social (CRM)

CRM

Paid

Analytics

Email

Sprout SocialSprinklrHootsuite

Organize: Social Data Hub

Content

Social

Paid

CRM

Analytics

KapostPercolate

Organize: Content-centric Data Hub

CRM

Social

Analytics

PaidDemand

- Gen

Email

Organize: CRM-centric Data Hub

SalesforceOracleIBMAdobe

Analyze

Social Data Gathering & Trend Analysis

Social Activity Data Management & Measurement

Social Content Marketing Management & Measurement

Deep Analytics & Data Mining - Segmentation

Text Analytics/NLP - Purchase intent, Loyalty, Sentiment

Multi/Omni-Channel

- Attribution, Tag Management

- Personalization, marketing

Analyze: Insights

Analyze: Holy Grail

Attribution

Contribution

Prediction

- Social + Digital- Multi/Omni-channel

- Share of revenue by channel- Customer profiling, segments

- Media mix model- Behavioral analytics

Analyze: Reporting

Analyze: Integration with data warehouses

Data gathering and analysis is NOT the end goal.

Achieving desired business outcome is the end goal.

Do something!

Increase Effectiveness, Reduce Costs

Cross-channel messaging

Personalized offers

Custom experiences

Relevant content type

Optimize media mix

Channel strategy

Products placements

Higher conversion rates

Lower acquisition costs

Increase content effectiveness

Generate more demand

Acquire more customers

Retain existing customers

Grow revenue streams

If you’re not testing & measuring effectiveness of every activity and piece of content you put online, you are doing it wrong!

www.keepcalm-o-matic.co.uk

Getting buy in & $$

Clear objective

Convert the social jargon into business KPIs

Tie it back to your top-level marketing/business strategy

Collaborate across the silos – get data from other sources

Get cross-functional champions for your vision – CFO, CIO, CTO

Getting Organizational Support & $$$

More questions?Email: Mia@Lighthouse3.com

Twitter: @MiaD