The New Trend In Social Media Mining

Greg Tozian – Chief Digital Strategist &

Peter Murane – President

The New Trend In Social Media Mining:Delivering Actionable Business Intelligence

Introducing Brand Vo2

Today’s Information Wave Changes Everything

The Wave is QuickeningThe speed at which human knowledge doubles globally

• 1900: doubles every 100 years*• 1945: every 25 years*• Today (2014): every year• 2016: every 12 hours (when wireless

internet connectivity completely covers the globe)**

* Noted scientist, philosopher, futurist, R. Buckminster Fuller** IBM forecast

There’s Too Much Online Chatter – Way Too Much Noise

• Everyone knows there’s too much noise in social media, blurring actionable insights

• Key Question: how do you find what’s pertinent for you?

Social Media Overwhelms Many

Organizations are struggling to keep up with on-line conversation glut from social media, the media, review sites, blogs, videos, etc.

Social Media Monitoring – Tools Not Measuring Up

• The need to monitor, understand and respond to online conversations has spawned many social media monitoring/engagement software platforms

• There’ve been two major levels …

Level 1: Tracking Volume &Low Level Sentiments

• At this level, people measure such things as:– Percentage of positive, negative and neutral

comments– Volume of referred traffic to main corporate

websites – Unique page views, total pages viewed, time

on site from referrals, etc.

Level 2 Platforms: Considering Share of Voice and Customer Service

• Measures…– Share of conversation volume– Customer complaints

Deficiencies In Level 1 & 2 Social Media Mining Platforms

• Too broadly focused data collection – “boiling the ocean” for insights

• User has to do the heavy lifting• Difficult to obtain truly actionable insights • Emerging trends, brand health are

invisible

Level 2: Considering Voice-Share and Customer Service

• Measures…– Brand share of voice versus competitors– Customer complaints

The New Trend – Identifying Actionable Insights Using Level 3 Platforms

What Is Level 3?• Takes online conversations and measures…– How healthy your brand is– How social media drives KPIs

• Identifies opportunities:– Where competition is weak– What products/services you should develop– Where the category/markets are going

Level 3 Attributes

• Applies category-specific linguistic lenses instead of a one-size-fits-all framework

• Removes noise to present only relevant social conversations

• Brand health measured across a range of attributes

Level 3 Deliverables – Scoring

• Dow Jones-like prescriptive brand health scoring– Delivers one big number of brand health– Benchmarks versus selected competitors– Benchmarks versus the category average

Level 3 Deliverables – ROI Analysis

• Ties online conversations to specific business metrics like…– Store visits– Market share– Marketing effectiveness– Operational performance

Level 3 Deliverables –Trend Spotting

• Providing early warning of emerging trends– New consumer behaviors– Competitor weaknesses– New forms of competition– Changes taking place in the value landscape– Emerging, unmet desires for new

products/services

Level 3 Deliverables – Analyst Support

• A talented analyst using a Level 3 platform is a potential game-changer:– Drives relevancy for the Enterprise– Gets to insights more quickly– Lower cost than traditional market research

tools

Summary – Truly Actionable Insights

• There’s no stopping the information wave• Adopting Level 3 platforms to gain truly

actionable brand/business insights allow organizations to keep pace and excel

Greg Tozian – Chief Digital Strategist

[email protected]

Peter Murane – President

[email protected]

Thank You