Download pptx - Social Media Breakfast Club And Sysomos Presentation Sept 22 @DrNatalie

DR. NATALIE L. PETOUHOFFUSC Adjunct Professorwww.drnatalienews.com

Social Media Monitoring &

Measurement:Turning Data into

Insights

*Artwork by Joe Bertelli

Curious?

#SMB_LA #SMWLA @DrNatalie

Social Media is Exploding


Agenda1. What to monitor and why2. Where social media ROI comes from- what to measure to get ROI 3. What happens when you don’t do social media monitoring


Why Monitor?Why ROI? Why Now?

You have to be curious to be successful…

http://www.picturesofcats4you.com

Social media adoption? Where’s your brand?

Most companies are in the Early Majority category• Early Majority are:

• Pragmatists • They dislike unpredictability• They need assurances • SHOW THEM: what they’re going to do will work• They are hard to win over

Adopting companies

are: innovators

or early

adopters

The Social Media Adoption*

* Adopted from: Crossing the Chasm”, by Geoffrey A. Moore


That’s why business cases and ROI are now needed…

Convincing Early Majority that social media matters• Requires something different…• Something concrete…• A business case…• It requires ROI…


The Social Media Adoption*


SOCIAL CURRENCY

is the value…

WHY SHOULDYOU CARE?


History give us perspective to see future opportunities…

Source: http://www.buzzmachine.com/archives/cat_dell.html

Dell Hell: it started with a post


DELL SUCKS. DELL LIES. PUT that in Your Google and smoke it…And it gained momentum…@DrNatalie

And led to dedicated haters…

Source: http://www.buzzmachine.com/archives/cat_dell.html #SMB_LA #SMWLA @DrNatalie

What was / is social media?


Go back in time…People were predicting this…

There would be… A place in time….

Where the customer would in charge of the message …

And there would be an enabling technology… We are here now…

This is your opportunity!!!!


"Long- term commitment to new learn ing

and new phi losophy is

requi red of management that seeks t ransformat ion .

The t imid and the fa in thear ted are doomed to

d isappointment .“

- - W. E D WA R D S D E M I N G

Go back further…Many scholars had advocated to listen to

customers, employees, partners..


What’s new? NOT customer upset.The customer now influences one to many…

The impact? Companies must listen…

Source: FastCompany.com and BusinessWeek.com

Does word of mouth Matter?

Ask Tony and Alfred…


What’s given fuel to the fire?The press has taken up the cause…

Source: FastCompany.com and BusinessWeek.com #SMB_LA #SMWLA @DrNatalie

Customer uses social media (youtube.com) to vent their frustration…

The story ends up on CNN… Wolfe Blitzer’s…The Situation Room…

Source: Youtube.com and CNN.com #SMB_LA #SMWLA @DrNatalie

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….

If you are going to take social media seriously…


Why is ROI so hard?It’s a complexity issue… You have to have knowledge of and hold in your mind three things at once…

1. Your traditional business goals & metrics2. Social media business goals and metrics3. How social media affect traditional business

situations when you apply it


PR & Marketing Research

Focus GroupVs

Online Community


Cost of a Focus Group12 people = $15K

1 focus group/month x 12 months = $180K


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


Product Development and

LaunchInsulated prod dev

Vs Community co-creation prod dev


Cost of Engineers and Marketing Team

1 engineer costs = $80K5 engineers x $80K = $240K +

Marketing Launch costs…#SMB_LA #SMWLA @DrNatalie

Record Sales

Cost of a CommunityAsk your customers what they wantUse social media monitoring to learn

$7K=$100K


Customer ServiceCall Center Agents

Vs Online Community


Cost of a Agent Salary

1 agent costs = $50K-$80K200 agents x $50K = 10M


Cost of a CommunityEngage advocates and experts

$7K=$100K

Happy, Loyal Customers


How to calculate ROI:1. Determine what department 2. Determine the goals for the department3. Decide on metrics, monitor & measure- both traditional & social media


Fractures a brand’s equity…

What happens to brands that don’t…. – Understand what the customer is saying in social networks?

– That don’t do social media monitoring to understand their audiences?

– That don’t collaborate cross functionally on social media?

– That don’t adopt social media?

Your brand


It’s not that uncommon that a company looses it’s way…

September 23, 2010 • Blockbuster Video went into bankruptcy• Why? • Competition by companies like Netflix


What could have helped Blockbuster?

Social Media Monitoring…


Blockbuster 2010

Sentiment towards Blockbuster*33% +36% -

*Social Media Monitoring Data from Sysomos

If Blockbuster was listening to customers, they might have been

able to shift…


Blockbuster Demise / Netflix Rise 2010

But Blockbuster didn’t listen and had to file

bankruptcy

*Social Media Monitoring Data from Sysomos#SMB_LA #SMWLA @DrNatalie

Customer Sentiment Around Blockbuster Bankruptcy, Sept 2010


Flash Forward to July 12, 2011Was Netflix listening?


Example of Not Hearing…

What happens when

you don’t listen or hear

&

you act without considering what

customers think, feel and know.#SMB_LA #SMWLA @DrNatalie

Despite the >23,000 negative comments on the blog…

July 12, 2011

Netflix sent out a notice on the

price hikeon Sept 19th, 2011and the results were...


Press CoverageQwikster (Netflix’s new offering) Sept 19th, 2011


Negative Press Coverage

Qwikster (Netflix’s new offering) –Sept 19th, 2011


Qwikster (Netflix’s new offering) – Sept 19th, 2011


Qwikster (Netflix’s new offering) Sept 19th, 2011

Three top words in the Buzz Graph?

• Reed• Hastings• Apologize

*Social Media Monitoring Data from Sysomos





Now Blockbuster is listening & hearing!

Netflix didn’t even check the twitter handle-- @Qwikster

May be it’s a good idea to listen to your customers!?!


Did Blockbuster cross the chasm of it’s time?

Did it shift with a changing marketplace? No….

Where is your

company in the adoption

of social media?


To help your company cross the chasm• Give them assurances • SHOW THEM: what they’re going to do will work• Show them that there is a business case & ROI can be calculated• That it is not rocket science• That the more things change, the more they stay the same…

*The Social Media Adoption Chasm


Early Majority34%

Late Majority34%

Early Adopters

13.5%

Laggards16%

Innovators 2.5%

THE CHASM

5

Social Media Adoption CurveSocial Media Adoption Curve

To be a long-term leader in any industry, You’ll have to cross the chasm to social media


Are you a innovator, an early adopter or an early majority? What’s it gonna take for you to cross the chasm or die….?

The Social Media Adoption Chasm


Don’t do the ostrich…

Imagine how silly you might look…


… take your head out of the sand… and cross the

chasm….


@drnataliewww.drnatalienews.com310-910-1542

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?

*Artwork by Joe Bertelli

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

DR. NATALIE L. PETOUHOFF


Thank you!