post from channel 123

By Dr. Natalie Petouhoff @drnatalie

www.drnatalienews.com/blog

Real Social Media Monitoring Case Studies

Demystifying the ROI of Social Media

2

Agenda• Look at real case studies

• Set-up a social media measurement program

• Calculate business impact & ROI

@drnatalie

• Learning is the desire to discover new thingsWe are amazed by new things…

@drnatalie

•

@drnatalie

It’s the new shiny

object

And Social Media?

@drnatalie

But the amount of information

– can feel like an insurmountable blur

@drnatalie

It can generally be useless

@drnatalie

Today’s goal is to…Provide…

• Marketers• Brand Managers• Product Managers• Consumer Insights Teams &• Market Research Professionalsw

An understanding of the benefits of:

• Having deep, real-time insights• Using insights to make business

decisions &• Being able to be an invaluable

resource to CEO- suite

@drnatalie

ssss

To TAKE THE

CHAOS TO

ORDER

Using context

@drnatalie

9

Business As Usual

Executives want to know what the business value

of social media is

@drnatalie

Misconceptions of ROI

• That’s funny• But ROI is not obvious to everyone• And your boss would like a number

@drnatalie

You may have heard…

“Would you calculate the ROI of your mom or your pants?

Then why would you calculate the ROI of social media?It’s obvious!”

http://www.flowtown.com/blog/what-is-the-roi-of-your-mom

@drnatalie

Misconceptions of ROI

“ROI is too difficultbecause I’m not

a “math” person.”

@drnatalie

Misconceptions of ROI…There’s a change in metrics!!

• We have 500 more “Likes”• 10X click-thru rate on “Buy Now” button

• $5M in annual support savings & sales advocacy• Viral videos increased company sales +700%

• Social microsites secured 1,000,000 fans and a 10% increase in same-store sales

E

I have an ROI!!e

Note to self:Metrics are necessary…

But they are not ROI

@drnatalie

Real-world Examples

@drnatalie

Analyzed online conversations:• Their brand• Key competitor

Ran nat’l ad campaigns & wants to understand:• Effectiveness of messages and • Drivers of consumer purchase intent

Case Study: Major Insurer

Advertising Effectiveness & Competitor Evaluation

@drnatalie

Insurer Ad Effectiveness

• Insurer’s ad campaign is liked

• Didn’t generate conversation about buying or switching insurers

@drnatalie

Insurer Ad Effectiveness

• Insurer’s ad campaign is liked

• Didn’t generate conversation about buying or switching insurers

• Competitor ad campaign is more divisive

@drnatalie

Insurer Ad Effectiveness

• Insurer’s ad campaign is liked

• Didn’t generate conversation about buying or switching insurers

• But spurs a conversation trend related to purchasing

• Competitor ad campaign is more divisive

@drnatalie

Conclusion of social media monitoring

• Both campaigns generate healthy “buzz”

• But positive sentiment doesn’t reflect intent to purchase

• Using context avoids misinterpreting positive sentiment for a social buying gesture- intent to purchase

@drnatalie

ROI of social media monitoring

ROI = Benefits - Costs x 100 = Percentage Return on the Investment Costs

What is the cost?• People- to do the analysis

• Process- process to compile the information

• Technology- social media monitoring tool

What is the benefit? • If the commercial drove sales? • Number of leads? • What is a lead worth?• Number of lead conversions? • What’s a sale worth?

@drnatalie

Case Study: Craft Company

Product Development & Marketing

Wants to understand:• What topics dominate craft-related conversations?• Is marketing having the desired effect?• What’s lacking in the product line and accessories?

@drnatalie

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Identified New Product Opportunities

Discovered opportunity to develop more male-centric product line & accessories

Consumers’ expressed strong desire for:

• More & better supplies & accessories

• Improved access to purchase those accessories

@drnatalie

• In-house Research • Quickly and cost effectively

identifies new product & market opportunities

• Prompts development of new product accessories

• Enables additional sales• Expands market share

• Marketing • Gained increased confidence

leveraging social-media• Confirmed effectiveness of current

messaging and promotional approach

Conclusions of social media monitoring

@drnatalie

ROI of social media monitoring

ROI = Benefits - Costs x 100 = Percentage Return on the Investment Costs

What is the cost?• People- to do the analysis

• Process- process to compile the information

• Technology- social media monitoring tool

What is the benefit? • What does it cost the company to go to market

with a product that isn’t what customers really wanted?

• What would this type of market research normally cost the company?

• How long would it normally take to get that kind of feedback? What’s the general cost for product dev to launch a product?

• What’s the value of fnding a new product to provide their market?

• What was the value in revenue of the new products/ accessories?

• What’s the value of key messaging that works? Higher lead conversation rate?

@drnatalie

Case Study: Medical Device for Diabetes & Insulin

Product Launch Marketing

• What core messages will resonate most

with these consumers?• How do patients discuss the complexities

of treatment & control?• What is the significance for the new

product launches?

Wants to understand diabetes & insulin:

@drnatalie

Lifestyle

Consumers’ Concerns

Top Conversations

Lifestyle

TreatmentSuccess

Support

Device comments?

LOWER

@drnatalie

Opportunity for brand to: • Get more engaged• Become trusted-partner• Create a online Community for

• Advice• Recommendations• Shared-support

Conclusions of social media monitoring

@drnatalie

ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the Investment

Costs

What is the benefit? • What’s the value in knowing what to put the emphasis of

content online?• I.e.., to create an editorial calendar that has

content that specifcally addresses why people might not use their medicine

• And which means that don’t feel as well and they don’t live as long or buy the medicine- which affects sales

• What is the value of becoming a trusted resource for patient concerns? Enhanced brand trust?

• Did the online community:• Deflect any calls to the call center?• Increase the efciency or effectiveness of the calls? • Did the company use the content in the

community to update their FAQs or knowledge base which helped self-service?

What is the cost?• People- to do the analysis

• Process- process to compile the information

• Technology- social media monitoring tool

@drnatalie

Case Study: Healthy Snacking & Kids

Campaign Planning: Product Launch & Marketing

Wanted to know the nature of online conversations:

• Concerns parents have providing kids a healthy diet

• What factors drive purchase decisions and habits?

@drnatalie

“Healthy” in Kids Snack Foods: More Effectively Resonate

with Consumers

Nutrition

AllergiesTop

Conversations

Convenience

Taste Not as High

@drnatalie

Opportunities for Brand:• Better launch messaging • Product packaging• On-going campaign messaging

Conclusions of social media monitoring

@drnatalie

ROI of social mediaROI = Benefits - Costs x 100 = Percentage Return on the Investment

Costs

What is the benefit? • What’s the cost of market research?• Focus group of 12 people = 15K • How many would you need to do to get

the same volume of content?• 12 x $15K = $180,000• What’s the value of targeting the

message for a campaign?• What’s the value of being able to run an

AB test of taste vs. allergies to see which one really gets the most responses?

ROI of social media monitoringROI = Benefits - Costs x 100 = Percentage Return on the Investment

Costs

What is the cost?• People- to do the analysis

• Process- process to compile the information

• Technology- social media monitoring tool

@drnatalie

How to Set-up A Social Media Measurement

Program

6. Hone the analysis / teach the system7. Analyze the information8. Create appealing presentation of data9. Present information to stakeholders10. Take action on the data & repeat!

@drnatalie

How to Monetize FacebookWith Social Commerce

By Dr. Natalie

1. Get executive buy-in & support2. Choose Staff 3. Determine your business goals

• Product Development• Product Launch• Product Marketing…

4. Choose a social media monitoring system5. Start listening to online conversations

Wayne St. AmandVice President, Marketing

SOCIAL MEDIA IS EVERYWHERE, AND EVERYONE IS USING IT.

WE ANSWER THE QUESTIONS.

1.75 BILLIONPOSTS PER

WEEK

100+ BILLIONPOSTS TO DATE

250+ MILLIONPOSTS PER DAY

MASSIVE OPPORTUNITY NOT FULLY LEVERAGED BY MOST

• Social media is the largest source of unfiltered

information ever available about how

consumers truly think and feel

• The vast majority of companies have yet to

take advantage of this intelligence to

influence their business decisions

Achieving Social Intelligence

The management and analysis of customer data from social sources, used to activate and recalibrate marketing and business programs.

SOCIAL INTELLIGENCE CREATES ACTIONABLE INSIGHTS

True Social Intelligence Delivers• Consumer insights to

drive business success– Greater marketing

effectiveness– On-target product

planning– Deeper competitive

insights– Understand purchase

triggers

However, most of today’s tools do a terrible job

of helping you achieve true Social Intelligence

MOST SOCIAL MEDIA MONITORING IS BROKEN

Keywords and semantics don’t work well in social media

• Traditional tools lack the ability to understand context

• A computer cannot replace human judgment

• Human analysts cannot scale or provide consistency

• Predefined rules cannot support the dynamic nature of the social media conversation

• Surface-level monitoring lacks accuracy and deep insight

NLP Semantic

SearchManual-coding

Keyword Sentiment Monitoring

39

THE CRIMSON HEXAGON FORSIGHT® PLATFORM

ScalableAccurateReplicable

A REVOLUTIONARY APPROACH

ContextNuance

Judgment

Posi

tiv

eN e g a t i v e2 3 %

66%

Major Automotive Brand

SENTIMENT ALONE IS INCOMPELTE

102,784 mentions

11%

Neutral

ANALYTICS BEYOND SOCIAL

Customer

Feedback

Market Research

Social Web

Facebook

Pages

PROPRIETARY ONLINE

GLOBAL CONVERSATION

صباح الخير

Grüßgot

早上好

hej

bonjour

Γεια σουselamat pagi konbanwa

안녕하세요

zdravstvuyte

merhaba selam

boas

sawa dee-kanamaskar

ADDITIONAL RESOURCES:

Request an Online Demo: http://www.crimsonhexagon.com/products/request-a-live-demo

Customer Case Studies:

http://www.crimsonhexagon.com/customers/#casestudies

Overview Video:http://www.crimsonhexagon.com/products/overview-video/

Data Sheets & White Papers:http://www.crimsonhexagon.com/products/whitepapers/