Social Media Breakfast Club And Sysomos Presentation Sept 22 @DrNatalie

  • Published on
    20-Aug-2015

  • View
    2.589

  • Download
    2

Embed Size (px)

Transcript

  1. 1. Social Media Monitoring &
    Measurement:
    Turning Data into Insights
    DR. NATALIE L. PETOUHOFF
    USC Adjunct Professor
    www.drnatalienews.com
    Curious?
    #SMB_LA#SMWLA@DrNatalie
    *Artwork by Joe Bertelli
  2. 2. #SMB_LA#SMWLA@DrNatalie
    Social Media is Exploding
    Source: www.flickr.com/photos/grundlepuck/182445397/
  3. 3.
  4. 4. Agenda1. What to monitor and why2. Where social media ROI comes from- what to measure to get ROI 3. What happens when you dont do social media monitoring
    #SMB_LA#SMWLA@DrNatalie
  5. 5. Why Monitor?
    Why ROI?
    Why Now?You have to be curious to be successful
    http://www.picturesofcats4you.com
  6. 6. Social media adoption? Wheres your brand?
    Adopting companies are: innovators
    or
    early adopters
    The Social Media Adoption*
    * Adopted from: Crossing the Chasm, by Geoffrey A. Moore
    Most companies are in the Early Majoritycategory
    • Early Majority are:
    • 7. Pragmatists
    • 8. They dislike unpredictability
    • 9. They need assurances
    • 10. SHOW THEM: what theyre going to do will work
    • 11. They are hard to win over
    #SMB_LA#SMWLA@DrNatalie
  7. 12. Thats why business cases and ROI are now needed
    Convincing Early Majority that social media matters
    • Requires something different
    • 13. Something concrete
    • 14. A business case
    • 15. It requires ROI
    The Social Media Adoption*
    * Adopted from: Crossing the Chasm, by Geoffrey A. Moore
    #SMB_LA#SMWLA@DrNatalie
  8. 16. SOCIAL
    CURRENCY
    is
    the value
  9. 17. WHY SHOULD
    YOU CARE?
    #SMB_LA#SMWLA@DrNatalie
  10. 18. History give us perspective to see future opportunities
    Dell Hell: it started with a post
    #SMB_LA#SMWLA@DrNatalie
    Source:http://www.buzzmachine.com/archives/cat_dell.html
  11. 19. DELL SUCKS. DELL LIES. PUT that in Your Google and smoke itAnd it gained momentum
    @DrNatalie
  12. 20. And led to dedicated haters
    #SMB_LA#SMWLA@DrNatalie
    Source:http://www.buzzmachine.com/archives/cat_dell.html
  13. 21. What was / is social media?
    #SMB_LA#SMWLA@DrNatalie
  14. 22. Go back in timePeople were predicting this
    Therewould be A place in time.
    Where the customer would in charge of the message
    And there would be an enabling technologyWe are here now
    This is your opportunity!!!!
    #SMB_LA#SMWLA@DrNatalie
  15. 23. Go back furtherMany scholars had advocated to listen to customers, employees, partners..
    "Long-term commitment to new learning
    and new philosophy is required of management that seeks transformation.
    The timid and the fainthearted are doomed to disappointment.
    -- W. Edwards Deming
    #SMB_LA#SMWLA@DrNatalie
  16. 24. Whats new? NOT customer upset.The customer now influences one to many The impact? Companies must listen
    Does word of mouth
    Matter?
    Ask Tony and Alfred
    #SMB_LA#SMWLA@DrNatalie
    Source: FastCompany.com and BusinessWeek.com
  17. 25. Whats given fuel to the fire?The press has taken up the cause
    #SMB_LA#SMWLA@DrNatalie
    Source: FastCompany.com and BusinessWeek.com
  18. 26. Customer uses social media (youtube.com) to vent their frustration
    The story ends up on CNN Wolfe Blitzers
    The Situation Room
    #SMB_LA#SMWLA@DrNatalie
    Source: Youtube.com and CNN.com
  19. 27. If you are going to take social media seriously
    1. Start to do social media monitoring2. Grab screenshots that tell a story about what is happening to the business3. Show executives the screenshots & ask if this is something we should pay attention to.
    #SMB_LA#SMWLA@DrNatalie
  20. 28. Why is ROI so hard?Its a complexity issue
    You have to have knowledge of and hold in your mind three things at once
    Your traditional business goals & metrics
    Social media business goals and metrics
    How social media affect traditional business situations when you apply it
    #SMB_LA#SMWLA@DrNatalie
  21. 29. #SMB_LA#SMWLA@DrNatalie
    PR & Marketing Research
    Focus Group
    Vs
    Online Community
  22. 30. Cost of a Focus Group
    12 people = $15K
    1 focus group/month x 12 months = $180K
    #SMB_LA#SMWLA@DrNatalie
  23. 31. Cost of a social media monitoring or an online community
    $7K=$200K
    Result: Continuous, ongoing, direct, authentic, genuine feedback from hundreds or thousands of people that can benefit PR and other departments
    #SMB_LA#SMWLA@DrNatalie
  24. 32. Product Development and Launch
    Insulated prod dev
    Vs
    Community co-creation prod dev
    #SMB_LA#SMWLA@DrNatalie
  25. 33. Cost of Engineers and Marketing Team
    1 engineer costs = $80K
    5 engineers x $80K = $240K +
    Marketing Launch costs
    #SMB_LA#SMWLA@DrNatalie
  26. 34. Cost of a Community
    Ask your customers what they want
    Use social media monitoring to learn
    $7K=$100K
    Record Sales
    #SMB_LA#SMWLA@DrNatalie
  27. 35. Customer Service
    Call Center Agents
    Vs
    Online Community
    #SMB_LA#SMWLA@DrNatalie
  28. 36. Cost of a Agent Salary
    1 agent costs = $50K-$80K
    200 agents x $50K = 10M
    #SMB_LA#SMWLA@DrNatalie
  29. 37. Cost of a Community
    Engage advocates and experts
    $7K=$100K
    Happy, Loyal Customers
    #SMB_LA#SMWLA@DrNatalie
  30. 38. How to calculate ROI:1. Determine what department 2. Determine the goals for the department3. Decide on metrics, monitor & measure- both traditional & social media
    #SMB_LA#SMWLA@DrNatalie
  31. 39. What happens to brands that dont.
    Understand what the customer is saying in social networks?
    That dont do social media monitoring to understand their audiences?
    That dont collaborate cross functionally on social media?
    That dont adopt social media?
    Your brand
    Fractures a brands equity
    #SMB_LA#SMWLA@DrNatalie
  32. 40. Its not that uncommon that a company looses its way
    September 23, 2010
    • Blockbuster Video went into bankruptcy
    • 41. Why?
    • 42. Competition by companies like Netflix
    #SMB_LA#SMWLA@DrNatalie
  33. 43. What could have helped Blockbuster?
    Social Media Monitoring
    #SMB_LA#SMWLA@DrNatalie
  34. 44. Blockbuster 2010
    If Blockbuster was listening to customers, they might have been able to shift
    Sentiment towards Blockbuster*
    33% +
    36% -
    *Social Media Monitoring Data from Sysomos
    #SMB_LA#SMWLA@DrNatalie
  35. 45. Blockbuster Demise / Netflix Rise2010
    But Blockbuster didnt listen and had to file bankruptcy
    #SMB_LA#SMWLA@DrNatalie
    *Social Media Monitoring Data from Sysomos
  36. 46. Customer Sentiment Around Blockbuster Bankruptcy, Sept 2010
    *Social Media Monitoring Data from Sysomos
    #SMB_LA#SMWLA@DrNatalie
  37. 47. Flash Forward to July 12, 2011
    Was Netflix listening?
    *Social Media Monitoring Data from Sysomos
    #SMB_LA#SMWLA@DrNatalie
  38. 48. Example of Not Hearing
  39. 49. What happens when you dont listen or hear &you act without considering what customers think, feel and know.
    #SMB_LA#SMWLA@DrNatalie
  40. 50. Despite the >23,000 negative comments on the blog July 12, 2011Netflix sent out a notice on the price hikeon Sept 19th, 2011
    and the results were...
    #SMB_LA#SMWLA@DrNatalie
  41. 51. Press Coverage
    Qwikster (Netflixs new offering) Sept 19th, 2011
    #SMB_LA#SMWLA@DrNatalie
  42. 52. Negative Press Coverage
    Qwikster (Netflixs new offering)
    Sept 19th, 2011
    #SMB_LA#SMWLA@DrNatalie
  43. 53. Qwikster (Netflixs new offering) Sept 19th, 2011
    *Social Media Monitoring Data from Sysomos
    #SMB_LA#SMWLA@DrNatalie
  44. 54. Qwikster (Netflixs new offering) Sept 19th, 2011
    Three top words in the
    Buzz Graph?
    • Reed
    • 55. Hastings
    • 56. Apologize
    #SMB_LA#SMWLA@DrNatalie
    *Social Media Monitoring Data from Sysomos
  45. 57. #SMB_LA#SMWLA@DrNatalie
  46. 58. #SMB_LA#SMWLA@DrNatalie
  47. 59. #SMB_LA#SMWLA@DrNatalie
  48. 60. Now Blockbuster is listening & hearing!
  49. 61. Netflix didnt even check the twitter handle-- @Qwikster
  50. 62. May be its a good idea to listen to your customers!?!
    #SMB_LA#SMWLA@DrNatalie
  51. 63. Did Blockbuster cross the chasm of its time?
    Did it shift with a changing marketplace? No.
    *The Social Media Adoption Chasm
    Where is your company in the adoption of social media?
    To help your company cross the chasm
    • Give them assurances
    • 64. SHOW THEM: what theyre going to do will work
    • 65. Show them that there is a business case & ROI can be calculated
    • 66. That it is not rocket science
    • 67. That the more things change, the more they stay the same
    #SMB_LA#SMWLA@DrNatalie
    * Adopted from: Crossing the Chasm, by Geoffrey A. Moore
  52. 68. To be a long-term leader in any industry,
    Youll have to cross the chasm to social media
    The Social Media Adoption Chasm
    Early Majority
    34%
    Early
    Adopters
    13.5%
    Innovators 2.5%
    Late Majority
    34%
    Laggards
    16%
    THE CHASM
    Social Media Adoption Curve
    Social Media Adoption Curve
    Are you a innovator, an early adopter or an early majority? Whats it gonna take for you to cross the chasm or die.?
    5
    #SMB_LA#SMWLA@DrNatalie
    * Adopted from: Crossing the Chasm, by Geoffrey A. Moore
  53. 69. Dont do the ostrich
    Imagine how silly
    you might look
    #SMB_LA#SMWLA@DrNatalie
  54. 70. take your head out of the sand
    and cross the chasm.
    #SMB_LA#SMWLA@DrNatalie
  55. 71. DR. NATALIE L. PETOUHOFF
    Thank you!
    @drnatalie
    www.drnatalienews.com
    310-910-1542
    Link to the Social Media ROI videos:
    http://www.drnatalienews.com/blog/did-u-see-the-videos-on-the-roi-of-social-media
    Curious about
    The ROI of
    Social Media?
    Link to white papers on the ROI of Social Media:
    http://www.drnatalienews.com/blog/roi-of-social-media-white-papers-by-dr-natalie-petouhoff
    #SMB_LA#SMWLA@DrNatalie
    *Artwork by Joe Bertelli