Applying Social Intelligence To Your Business

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Social media creates a myriad of ways for brands to connect with and learn from customers, keep up with industry trends, and garner competitive insights. In the era of Big Data, we have multiple streams, ever-changing inputs and various business drivers online. Turning all of that unstructured social data into real customer insight that can be applied to your business requires clear business goals and disciplined practices. This session will address how firms can: Advance beyond simple monitoring Capitalize on opportunities for genuine customer engagement Apply the four Ps of social intelligence to your business Utilize the eight step marketing insights process to create real time marketing moments Fine-tune your data filtering to have the optimal signal-to-noise ratio for your objectives

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<ul><li> 1. 2012 Forrester Research, Inc. Reproduction Prohibited Applying Social Intelligence To Your Business Carl Doty Vice President &amp; Practice Leader Serving Customer Insight Professionals Forrester Research, Inc. @carldoty Albert Chou Chief Innovation Officer Expion @albert4waves Will start Momentarily - Send questions to #expion13 July 24th, 2013 </li></ul> <p> 2. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Agenda The rising power of social media The value of social media for business insights Forresters framework for actionable social insights Where is digital marketing headed next? 2 3. 2012 Forrester Research, Inc. Reproduction Prohibited 4. 2012 Forrester Research, Inc. Reproduction Prohibited The customer journey has changed 5. 2012 Forrester Research, Inc. Reproduction Prohibited5 6. 2012 Forrester Research, Inc. Reproduction Prohibited Consumers expect corporate responses in social channels 7. 2012 Forrester Research, Inc. Reproduction Prohibited Successful companies will adapt to their customer needs 8. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Agenda The rising power of social media The value of social media for business insights Forresters framework for actionable social insights Where is digital marketing headed next? 9. 2012 Forrester Research, Inc. Reproduction Prohibited Businesses know social listening is important 4/5* *Approximately 80% of marketers actively involved in their companys social media strategy report listening as an existing goal Companies listen to social media 10. 2012 Forrester Research, Inc. Reproduction Prohibited But most businesses are passive 11. 2012 Forrester Research, Inc. Reproduction Prohibited Its time to move beyond the buzz To active Understanding Engaging Supporting Influencing Optimizing From passive Monitoring Tracking Counting Reporting Listening 12. 2012 Forrester Research, Inc. Reproduction Prohibited The evolution occurs in three stages 1. Social Monitoring - Companies in this stage are learning, experimenting, and just beginning to understand how they can collect and use social data. 2. Social Listening - Companies in this stage have more mature data collection practices, and develop analytical capability that enables action. 3. Social Intelligence - Companies in this stage automate insight generation, integrate with other customer data sources, and expand their use cases. 13. 2012 Forrester Research, Inc. Reproduction Prohibited Crisis management Competitive intelligence Product research Campaign measurement Customer segmentation Product innovation Market research Influencer marketing Sentiment analysis SEO Interactive buying Lead generation Brand protection Customer support Reactive Proactive Tactical Strategic Social intelligence helps businesses 14. 2012 Forrester Research, Inc. Reproduction Prohibited MTV finds show-saving insights MTV marketers listened to conversations to learn about the market for its new show Teen Wolf Learned why old messaging fell flat and quickly re- launched new messaging based on social insights New campaigns gained over 200% more online discussion and ratings improved week over week 15. 2012 Forrester Research, Inc. Reproduction Prohibited Hyundai listens to Facebook customers Car company launched online personality quiz through Facebook matching users with the appropriate car Promoted local dealerships for test drives, resulting in an increased rate of dealership visits Resulting campaigns generated greater CTRs and improved sales 15 16. 2012 Forrester Research, Inc. Reproduction Prohibited Novotel finds online insights Novotels marketing team monitors social media for consumer discussion around its hotel properties Marketers learn from consumers online, engaging in positive discussion and encouraging feedback on travel sites First year results: 55% more positive feedback online improved earned media Over 15% increase in sales 17. 2012 Forrester Research, Inc. Reproduction Prohibited 18. 2012 Forrester Research, Inc. Reproduction Prohibited LOreals social insights in China Lancme marketers monitored Social Media in China to learn about Chinese consumers and craft campaign ideas Learned of consumer demand for an online venue for beauty product discussion Created Lancme Rose Beauty community Over 4,000,000 members joined the community the largest beauty product site in China Online discussion around LOreal products increased from 5,000 mentions to 500,000 mentions per month Drives sales directly to LOreal ecommerce sites 19. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Kiddicare finds community insights UKs largest nursery retailer launched an online support community Customers ask and answer questions on its website By connecting these discussions to actual customers calling in for help, support agents gained better background information and could resolve cases faster and more effectively Decreased call support volume Increased support resolution rate to 98% 20. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Agenda The rising power of social media The value of social media for business insights Forresters framework for actionable social insights Where is digital marketing headed next? 21. 2012 Forrester Research, Inc. Reproduction Prohibited Source: June 18, 2012 How To Make Social Media Actionable Forrester report Follow the four Ps of social intelligence 22. 2012 Forrester Research, Inc. Reproduction Prohibited Best practices for People Dedicate time to social data Use internal and external resources Define and formalize roles and responsibilities Appoint employees with business understanding first, then social media expertise Leading companies strategies: 23. 2012 Forrester Research, Inc. Reproduction Prohibited Best practices for a Purpose Coordinate efforts, share ideas, identify common goals Ensure as little redundancy as possible Set consistent reporting, tracking business data and social metrics Constantly measure results and recalibrate practices Report metrics upwards and outwards through the organization Leading companies strategies: 24. 2012 Forrester Research, Inc. Reproduction Prohibited Best practices for a Process Establish a workflow for incoming social media data Compile a dynamic list of relevant items Plan for positive, negative, and neutral insights Prepare for data distribution across the enterprise Create a scalable, repeatable, business process for acting on insights Leading companies strategies: 25. 2012 Forrester Research, Inc. Reproduction Prohibited Best practices for a Platform Partner with a listening platform and compromise on functionality Rely on a single day-to-day dashboard provider to ensure consistent measurement, scalability, and reliable training As your use cases become more sophisticated, compliment your existing platform with other technology vendors to fill in gaps Leading companies strategies: 26. 2012 Forrester Research, Inc. Reproduction Prohibited Focus on the three core components of listening platforms 27. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Agenda The rising power of social media The value of social media for business insights Forresters framework for actionable social insights Where is digital marketing headed next? 27 28. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Customers want a relationship Source: September 18, 2012 Brand Engagement The Consumer Way Forrester report BRANDS MUST BUILD RELATIONSHIPS ON NEEDS AND ACTIONS 29. 2012 Forrester Research, Inc. Reproduction Prohibited But most marketing departments still employ outdated thinking October 2010 Its Time To Bury The Marketing Funnel 30. 2012 Forrester Research, Inc. Reproduction Prohibited We have a different view of the customer journey 31. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited What are the characteristics? 1. Journeys, not just campaigns 2. Decisions, not just rules 3. Interactions, not just profiles 31 32. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Marketers will move beyond campaigns, to real- time, event-based interaction models Rosalind Franklin 33. 2012 Forrester Research, Inc. Reproduction Prohibited 2012 Forrester Research, Inc. Reproduction Prohibited Once youve mastered social intelligence, expand your listening efforts beyond social channels, across all customer interactions Forrester calls this an Enterprise Customer Listening strategy. Your listening strategy must adapt 34. 2012 Forrester Research, Inc. Reproduction Prohibited Recommendations Evaluate your social intelligence maturity start by taking Forresters self-assessment The Social Intelligence Needs Assessment Follow the four Ps of social intelligence Purpose, People, Process, Platform to identify weaknesses and guide your progress As you mature, expand your listening efforts beyond social channels to prepare for Enterprise Customer Listening encompassing all channels and interactions. 35. Albert Chou Chief Innovation Officer @albert4waves 36. Enterprise Social Software Suite 37. Copyright Expion 2013 38. Business and social insights require: Trained team members that can execute a change or make a difference Product or service specialists actively seeking feedback Leadership that supports utilizing social data for these operational changes Operationalize Business Insights 39. Identify all relevant streams. Is Twitter Useful? Media YES! Google+ Brick and Mortar YES! Site specific 1. FLOW 40. Keeping data in silos prevents aggregated views Integrate data to connect the points of social + business outcomes 2. INTEGRATE 41. Seek conversations that are relevant to your business Surfacing all data without purpose consumes too much time 3. FIND 42. Conversation importance is paramount to active utility of social conversation Who is actually speaking and does that customers opinion matter to your business 4. INFLUENCE 43. Change the business Seize timely opportunities 5. RELEVANCY 44. Can the right person that can action the insight be alerted right now? 6. ALERT 45. 7. FRAME Has all prior information been provided? Have you delivered the right data to the right person for a complete picture? 46. Execution. All information is in place as fast as possible. It is now time to execute. 8. ENGAGE 47. Listening is less effective because overflow of streams that cannot be actioned. Alerting is Effective because providing the right person with the right information at the right to time to make a change Automobile dealerships that recognize in dealership service requests Sales team that actively seek complaints about competitive stores Hotels that change services while the guest is in house LISTENING VS. ALERTING 48. 2012 Forrester Research, Inc. Reproduction Prohibited Thanks for Participating Send questions to #expion13 Carl Doty Vice President &amp; Practice Leader Serving Customer Insight Professionals Forrester Research, Inc. cdoty@forrester.com @carldoty Albert Chou Chief Innovation Officer Expion achou@expion.com @albert4waves </p>

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