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Social Media Analytics- nuts & bolts

Webinar – Social Media Analytics & Strategy

Dec 2015

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Quick recap of what it is

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Social Media, you say?

WOOT, WOOT!

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1-in-7 is Mobile-Social daily and spend on an average half hour a day!

1-in-6 page goes Viral!

Social is cheap and easy!

Personalized!

1-in-5 people in the world is Social!

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Quick recap of what it is

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No brainer, eh?

NA AH!

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Metrics may obfuscate reality

Like/follow & forget

Not always actionable or relevant (don’t always know fan vs. customer)

When it’s good, it’s difficult – lingo, emoticon, dialect, sarcasm

Bad data-spam/gaming/bad behavior

…it’s mostly reinforcement, not always influential (friend vs. expert)

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Quick recap of what it is

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All doom & gloom? No, it has genuinely huge potential…

VAST SCOPE OF APPLICATIONS

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Product

Marketing

Operations

Fraud

Strategy

1. Monitoring throughout PLC2. User Experience issues3. Personalization – FB Connect

1.Promotion effectiveness 2.Brand/Public Relations initiatives3.Cross & Up-sell/Campaign designs

1.Platform uptime2.Conversion3.Quicker sales

1.Social CRM2.Proactive solutions

1.Brand Awareness, Share of Voice2.Engagement3.CLV

1.Needs assessment & roadmap2.Competitive assessments

1.Fraud/gaming2.Information Security

1.Reduced incoming calls & response times2.Relational NPS

1.Fraud rates2.Complex pattern identifications3.Post incident response

1.Industry and consumer pulse2.Consumer relationship stickiness

Function Possible applications Possible metrics that it can help

NEEDS FOR IT TO BE SUCCESSFUL…

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1 Alignment with Strategic Goals and Outcome Focused approach

2

Clearly drafted “Social Command-Control structure” –Strategic goals, success criteria, KPIs, initiatives, budget, executive ownership, a dedicated team, e.g., 1 hr SLA for Social questions followed by month end in-depth analysis.

3Relevant to the need, e.g., Twitter/Fb for CRM & Branding/Mktg; Pinterest/Instagram for PR; Youtube for Help/PR; Discussion boards for monitoring & CRM; Deal sites for Promotions; Techcrunch for Strategy

4Relevant to the customers, the context & a Strong Value Prop for customers to engage socially, e.g., Yelp/Angie’s for local business; Linkedin for B2B customers; Products on Amazon/ebay/Target.

5

Establish “Text Analytics” practice that translates findings into recommendations with estimated impact sizes that helps prioritization. This also helps in connecting dots across the organization (Analytics, Research, Reports, A/B Testing, etc.)

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Quick recap of what it is

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Putting it all together

SUMMARY

10

• “Know” that Social is where Customers are

• “Must have” goals, success criteria & tie up with Corporate KPIs

• “Ensure” Value Prop for consumers to engage socially

• “Develop” ‘learn-listen-test-learn’ framework

• “Prepare” for ever more increasing personal-mobile-social world and the emerging needs.

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Quick recap of what it is

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Appendix

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Disclaimer: Participation is purely on a personal basis and does not represent VISA,Inc. in any form or matter. The talk is based on learning from work across industries and firms. Care has been taken to ensure no proprietary or work related info of any firm is used in any material.

Director, Insights at Visa, Inc. Enable Decision Making at the Executives/ Product/Marketing level via actionable insights derived from Data.

RAMKUMAR RAVICHANDRAN

THANK YOU!

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Would love to hear from you on any of the following forums…

https://twitter.com/decisions_2_0

http://www.slideshare.net/RamkumarRavichandran

https://www.youtube.com/channel/UCODSVC0WQws607clv0k8mQA/videos

http://www.odbms.org/2015/01/ramkumar-ravichandran-visa/

https://www.linkedin.com/pub/ramkumar-ravichandran/10/545/67a

RAMKUMAR RAVICHANDRAN

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