social media and product dev process
TRANSCRIPT
Developing a Product Strategy Leveraging Social Media
Scott K. WilderGary Angel
July 2011
Gary Angel, President of Semphonic Co-Founder and President of Semphonic, the leading
independent web analytics consultancy in the United States. Semphonic provides full-service web analytics consulting and advanced online measurement to digital media, financial services, health&pharma, B2B, technology, and the public sector. Gary blogs at http://semphonic.blogs.com/semangel
Introductions
Scott K. Wilder – Found Partner / Digital Strategist – Human 1.0
Human 1.0: focuses on Change Management, helping companies integrate social into their business processes and practices. Wilder also was SVP/Social Media Architect at Edelman – Digital. Before that he Founded and managed Intuit’s Small Business Online Community and Social Programs. Before Intuit, Scott was the VP of Marketing and Product Development at Kbtoys / eToys, the founder and director of Borders.com, and held senior positions at Apple, AOL, and American Express. Scott is also a founding Board member of the Word of Mouth Marketing Association. Scott has two blogs: http://www.wildervoices.com and http://www.digitalrisks.com
Agenda
Pivots
Tribes
The Process (10 Step Program)
Recap
Organizational structure usually drives goals
Marketing Product Development
Customer Care
To generate leads and / or drive transactions
To integrate learnings/suggestions in product
To enable users to get quality answers fast
-# of leads-# of transactions-Revenue minus costs-Cost per conversion-Engagement Score
-Time / cost of driving innovation in organization-Cost per new feature (engineering hours) vs. impact of feature-Time to market
-# of answers by users vs. company-# ratings of answers-Resolution rates-Reduction of costs for answers-Customer Satisfaction
How to do these? How to do these? How to do these?Which department / division owns ‘Social?’Measure what really matters? But you can’t measure everything
Objectives and Goals…
The Pivot
Chegg: example of a Pivot
2003: Original business plan: Craig’s list for College StudentsWatched sales and went into books
2007: Book rentals for college students
Gained traction and bought two other companies:Cramster: Online Study CommunityCourserank: Evaluate classes and see other
students votesNotehall: Lecture notes
Chegg!
2006 Home Page 2011 Home Page
Other Pivots
Berkshire Hathaway: Textiles → Private equity
BMW: Aircraft engines → Vehicles
IBM: Punched card equipment → Computers → IT Consulting
Mannesmann: Steel pipes → Cellular network carrier
Nintendo: Playing cards → Video games
Nokia: Rubber boots → Cell phones
Paypal: PDA payments → Email/web payments
Philips: Light bulbs → Various electronics
Pixar: Animation tools → Animated movies
Odeo →Twitter
Challenges
“Say-Do” Ratio
Internal decision making / ownership (silos)
Speed to test and make adjustments
Kitchen sink syndrome
“It’s how we have always done it”
Control and command environment
Have a conversation with customers, business partners, etc.
Tools first approach, then focus on people and process
Understanding Tribes leads to innovation and product pivots
Tribes
Definition: A collection of people who choose to interact due to shared interests and passions (scrapbooking, software, wine, etc.) and affinity for one another. They are characterized more by whom they like to hand out with and their behaviors vs. individual traits (income, age, location)
Focus on ‘Social Interactions” 4Cs: culture, context, content, communication
Different from qualitative approaches: Focus Groups and Surveys Expensive, obtrusive, Say-Do ration different Not real time as users participate
Different from using just tools: Radian6, Scoutlabs: Participate and interact with the tribe
Simple approach: Learning about a Tribe or doing a Pivot
1. Select Social Networks or Communities
2. Sign up, participate and engage in multiple communities and/or social networks – be prepared for ongoing conversations
3. Collect, Cull and Classify discussion treads, blogs, tweets, etc. – all ‘mentions’ of brand, product, usage, descriptions, etc. (might need to export/download info)
4. Read posts!
5. Record observations and learnings
6. Understand potential, establish a benchmark and track behaviors over time
7. Test observations via posts or 1 on 1 interviews
8. Review the company’s site
9. Reposition
10. Close Loop and Measure
1. Select/Identify Social Networks
Conduct Google, Bing, etc. Searches
Use Radian6 or Scoutlabs
Ask employees, customer, business partners, prospects, etc.
2. Sign up and participate for Community
Be transparent
Don’t use a factious name, job title or company
Listen carefully to conversations
Pay attention to social structure (leaders, followers)
Pay attention to language
Pay attention to other sites mentioned, etc.
Define culture
Record hot topics, interests
“Walk in their shoes…”
2. Read PostsBounce Fabric Softener can keep bugs away. Who
knew?
Bounce and Bugs/Mosquitos
Search Results and the Long Tail
4. Collect, Cull and Classify Social Media Reporting with the current generation of Social
Media Monitoring tools present several challenges
5. Record Observations
People talk about Bounce being a bug repellentUse words like ‘Repel,’ etc.Some make lists for different Bounce uses
What do people not like about most ‘repellents’Stings eyesSmellsWet/Damp so dirt and sand stick to your bodyGreasy feelRain and sweat can take it off your bodyGreasy
“Bounce: Get them critters to stay away”Crazy idea?
6. Benchmark and LearnMaybe P&G should market Bounce as Mosquito
repellent
Top themes and topics on different social networks, blogs, etc.
Top leaders on different social networks, blogs, etc.
Review terms/keywords/categories using Google, Bing, Google Trends, Social Search, Twitter Search
Review Ad Words to determine if words are how people describe products:Bounce: Bug killer?, Household cleaner
Kills bugsLasts for hours
6. Benchmark and LearnMaybe Bounce should market as Mosquito
repellent
Keywords on Google
6. BenchmarkSocial Networks
% Relevant Content
% of Influencers with Relevant Content
Target Keyword Density
Channel Churn of Engagers
Content Measures % Classifiable by Topic % Classifiable by Sentiment % Garbage Classified % Duplication
Cu
stom
ers
Gain
ed
Lost
Net Churn Trend
7. One on one Interviews
8. Company Site
Home Page Clever Ideas
8. Company siteLeveraging keywords or “bug
repellent”
9. “To Pivot or not to Pivot”
Transfer learnings into products / solutions
Bounce Sheets:Reposition orRoll out new product (similar product)Leave as is and don’t change anything
10. Close the Loop and Measure
10. Close the Loop and Measure
Careful measurement of Social Media provides distinct advantages vis-à-vis traditional research:• Increase N Size (How many verbatims you have)• Save $ (Low cost to duplicating research)• Increase Immediacy (Very rapid cycle times)• Find new people (Non-research agenda)• Broaden the agenda (You don't drive the questions)• Standardize the presentation (No more one-off
presentations)
10. Close the Loop and Measure
Consider the creation of a Customer Intelligence System (CIS)
*Slide Courtesy of Clarabridge
Let’s Recap the Process
Gary Angel: [email protected] Blog: http://semphonic.blogs.com/semangel/ @garyangel
Scott K. Wilder [email protected] New blog: http://www.wildervoices.com @skwilder For other presentations: http://www.slideshare.net/skwilder
Thank you!