netbase 2016 conference 10_27_16

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Social: The Third Eye of Market Research

October 2016

The Third EyeThe third eye is our ability to see what might be – to see potential

Social, the Third Eye for Market Research

Social can be integrated into market research at every phase

Makes visible the unmediated voice of the consumer

Use

real-time metrics

to identify issues

Use historical data

Leverage its coverage of (almost) every topic and industry

Provides data from all over the world

Social is an underutilized resource

Narrow and deep

• Stronger ties to business objectives

• Customized alignment with other research sources

Broad and less granular

• Monitoring “vanity metrics”

• Macro-level

Different application = different analytic approach

Gain deep qualitative understanding

The MindSight®

MatrixWe’ve identified the nine core motives that drive human behavior. W

HAT

KIN

D O

F C

HAN

GE

WHERE I’M LOOKING FOR CHANGEMy SELF-IMAGE My WORK/PLAY My SOCIAL LIFE

EX

PE

CTA

TIO

NS

EX

PE

RIE

NC

ES

OU

TCO

ME

S

Insecure,

Afraid

Safe,

Confident

SECURITY

Ordinary,

Boring

Unique,

Interesting

IDENTITY

Incompetent

Talented,

Exceptional

MASTERY

Isolated,

Lonely

Accepted,

Belonging

BELONGING

Selfish,

Unloved

Sharing,

Caring

NURTURANCE

Ashamed,

Disrespected

Proud,

Respected

ESTEEM

Trapped,

Frustrated

Freedom,

Power

EMPOWERMENT

Passive,

Indifferent

Involved,

Absorbed

ENGAGEMENT

Defeated,

Pointless

Victorious,

Productive

ACHIEVEMENT

Use customized themes to align with other research

Graphic from MindSight test using NetBase to analyze motives

Why is it so challenging to get deep learning using social analytics?

A lot of unstructured data with tons of noise

Research not clearly defined or too ambitious

Unrealistic expectations

Not enough focus and effort to find the sweet spot of new insight

A knowledgeable, experienced researcher can leverage the power of a social media analytic tool to yield valuable insights.

Educate internal stakeholders

Get ongoing feedback and create success stories to build support

Make social an essentialelement of your market research activities

Social Leads to Randesomic InsightsA fusion of random, awesome and epic