Social Media Analysis – Moving Beyond the · PDF fileSocial Media Analysis –...

Confidential & Proprietary

Social Media Analysis – Moving Beyond the Hype

Susan Etlinger – Industry Analyst, Al/meter Group Twi0er: @setlinger

Wayne St. Amand – Vice President of Marke/ng, Crimson Hexagon

Twi0er: @WayneSaint

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Susan Etlinger, Industry Analyst Twitter: setlinger

A Framework for Social Analytics

© 2010 Altimeter Group

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“The greatest danger in times of turbulence is not the turbulence;

it is to act with yesterday’s logic.”

− Peter Drucker


Altimeter Group conducted research and gleaned

input from 39 contributors to determine the most

common ways in which businesses measure the value of social media to

their organizations.

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Research Methodology

Report available onlinehttp://www.slideshare.net/setlinger/altimeter-social-analytics081011final


Vendors Vendors Brands & Agencies Awareness Context Optional Coremetrics/IBM Crimson Hexagon Cruvee/Vintank Facebook Gnip Google LinkedIn Lithium/Scout Labs Meltwater NetBase NM Incite/Nielsen

Omniture/Adobe PageLever Position2 Power Reviews Radian6 Retailigence salesforce.com SAS Institute TweetReach Visible Technologies Webtrends Wildfire Interactive Group

Adobe Systems DIRECTV, Inc. PETCO Animal Supplies American Express Edelman RadioShack Corp. Best Buy EMC Corporation Toyota Motor Sales, U.S.A. Converseon Novartis AG WCG Dell Ogilvy & Mather

Research Contributors

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Most (US) companies have a monitoring solution 6

“In 2011, 82% of corporations will have a brand monitoring solution in place. It will be the most heavily adopted category across all companies.” − Jeremiah Owyang, “How Corporations Should Prioritize Social Business Budgets,” February 2011.


But don’t know how to measure social media

Source: Jeremiah Owyang, “How Corporations Should Prioritize Social Business Budgets,” February 2011. :

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Measuring the Business Value of Social Media 8

The Social Media Measurement Compass


What We Can Learn 9

Brand Health

Conversation Drivers

Sentiment Drivers

Location, Time, Impact

Competitive Implications

Influencers


Share of Social Conversation

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Crimson Hexagon’s proprietary algorithm separates relevant from irrelevant content and measures user-defined themes in online conversation.

Brand Threats and Opportunities


What We Can Learn 12

Marketing Optimization

Campaign Performance

Content Performance

Channel Performance

Timing Impact

Influencer Impact


Conversion Efficiency 13

0 0.5 1 1.5 2 2.5 3

Direct Load

Referring Sites

Natural Search

Marketing Programs

Facebook


Owned Media Channels vs Competitors 14



Revenue Generation

Conversion Impact

Loyalty Impact

Search Impact

Revenue Impact


Impact of Social on Member Spending 16

Source: http://www.lithium.com/pdfs/casestudies/Lithium-FICO-Case-Study.pdf Disclosure: Lithium is a client of Altimeter.



Customer Experience

“Blind Spots”

Context!

Emotional Intensity

Issue Identification

Service Levels


Social Service Levels (in development) 18

Dell’s Social Media Listening Command Center (Courtesy Dell, Inc.)



Operational Efficiency

Call Containment

Advocate Identification

Channel Efficiency


Percentage of Inquiries Resolved in Social 20



Innovation

Opportunities

Threats

Idea Resonance

Idea Impact


Ideas Generated, Productized per Year 22


A Step-By Step Framework 23


§ Social signals will become integrated into enterprise decision-making

§ Predictive analytics will emerge § The ability to “speak data” will become

a critical skill across the enterprise

The Future of Social Media Measurement 24


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Thank you

Susan Etlinger [email protected]

www.susanetlinger.com

Twitter: setlinger

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Altimeter Group is a research-based advisory firm that helps companies and industries leverage disruption to their advantage.

Visit us at http://www.altimetergroup.com or contact

[email protected].

ABOUT US


KNOW MORE. KNOW WHY. KNOW HOW.

Wayne St. Amand - Vice President, Marketing [email protected]

@WayneSaint @CrimsonHexagon


Massive Opportunity Not Being Fully Leveraged by Most

•  Social media is the largest source of unfiltered informa/on ever available about how consumers truly think and feel

•  The vast majority of companies have yet to take advantage of this intelligence to influence their business decisions

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Achieving Social Intelligence The management and analysis of customer data from social sources, used to activate and recalibrate marketing and business programs.


Social Intelligence Creates Ac/onable Insights

True Social Intelligence Delivers

•  Consumer insights to drive business success

– Greater marke/ng effec/veness

– On-‐target product planning – Deeper compe//ve insights

– Understand purchase triggers

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However, most of today’s tools do a terrible job of helping you achieve true Social Intelligence


Most Social Media Monitoring is Broken

Keywords and seman?cs do not work in social media •  Tradi/onal tools lack the ability to understand context •  A computer cannot replace human judgment

•  Human analysts cannot scale or provide consistency •  Predefined rules cannot support the dynamic nature of the social media conversa/on •  Surface-‐level monitoring lacks accuracy and deep insight

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NLP Semantic Search

Manual-coding Keyword

Sentiment Monitoring


Crimson Hexagon Doesn’t Force Choice Between Human Judgment and Computer Automa/on

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•  Combines the unique strengths of human and computer automa/on

•  Automated algorithmic analysis powered by human-‐judgment

•  Business objec/ves are embodied in the analysis, not a[er the fact

Human Judgment

Control Context Nuance Computer

Automation

Scale Accuracy

Repeatability

Confidential & Proprietary 32

Posi/ve Nega/ve 23% 66%

Chevy Brand

Sen/ment Alone is Only a Small Part of the Picture

102,784 men/ons

11%

Neutral

11%

9%

18%

9%

11%

8%

11% 12%

11%

Love Chevy Legendary Want One Looks & Design

Performance Great Business Maintenance Prefers Compe?tor

Asking advice


•  Answers targeted business ques/ons based on contextualized analysis of social media conversa/on

•  Achieves industry-‐leading accuracy using advanced algorithmic approach (+/-‐ 3% error rate)

•  Filters noise and focuses on ALL relevant opinions, with relevance defined by the user

•  Analyzes any and all languages with no set-‐up investment –  Currently have clients analyzing over 28+ languages (incl. character sets)

•  Client support and strategic consul/ng services provided by marke/ng and industry analysts, specializing in applying product exper/se to specific business context

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Crimson Hexagon Delivers Social Intelligence


Human-‐Training Automated Algorithmic Analysis

•  Gary King, Harvard University – Director, Ins:tute for Quan:ta:ve Social Science

•  An analysis answers a ques/on •  The business user “trains” the algorithm with examples of “answers” to those ques/ons

•  The algorithm then amplifies that training across all social media conversa/ons

•  Algorithm can become more accurate over /me with added training

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Best-‐in-‐Class Data Coverage

Forums News Twijer Comments Facebook

2 MM posts per day

8 MM per day

250 K per day

225 MM per day

400 K per day

8 MM per day

5.1 BB stored

3.2 BB stored

152 MM stored

36 BB stored

73 MM stored

1.8 BB stored

Blogs

data from

5/08 data from

3/09 data from

5/08 data from

9/09 data from

7/10 data from

7/10

COMPREHENSIVE COMPREHENSIVE COMPREHENSIVE COMPREHENSIVE EMERGING EMERGING

•  Over 75 billion posts indexed to date and growing rapidly

•  Full TwijerFfirehose, stored since July 2010 •  No addi/onal charge for access to historic data •  API capabili/es for uploading internal data


Thank You!

Questions?


Addi?onal Resources:

Request an Online Demo: hjp://www.crimsonhexagon.com/products/request-‐a-‐live-‐demo

Customer Case Studies:

hjp://www.crimsonhexagon.com/customers/#casestudies

Overview Video: hjp://www.crimsonhexagon.com/products/overview-‐video/

Data Sheets & White Papers: hjp://www.crimsonhexagon.com/products/whitepapers/

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