the marriage of market research and market analytics€¦ · the marriage of market research &...
TRANSCRIPT
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The Marriage of Market Research & Market Analytics
Prepared for the
Market Research AssociationFebruary 16, 2011
By Rhonda Knehans Drake
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About Rhonda
Rhonda Knehans Drake: Presenter
Current Responsibilities:
Founder and President, Drake Direct, New York, NY
Clients include Disney [Buena Vista Home Entertainment], Facebook, BBC America, illy caffe, Source Interlink Publications, SiriusXM Radio, Time Inc, The Direct Marketing Association, Direct Marketing Educational Foundation, American Express, BusinessWeek, etc.
Assistant Professor in the NYU School of Continuing Professional Studies Master’s program for Integrated Marketing.
Prior Responsibilities:
Database and List Director, Reader’s Digest Young Families, Westport, CT
Account Director, Client Services, Information Resources, Inc., Darien, CT
Manager Market Planning and Analysis, Columbia House Video Club, New York, NY
Publications and Presentations:
A complete listing of Rhonda’s publications and industry presentations can be found at www.DrakeDirect.com.
Education
Master of Science, Applied Statistics, University of Iowa
Bachelor of Science, Economics, University of Missouri
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Discussion Outline
I. Framework for discussiona. Historical context for market research and market analyticsb. Evolving context of market research and market analytics
II. Exploring the idea of the Next Generation Databasea. What would it contain?b. What value would it provide?
III. Where are we now in the evolution of the fully integrated Next Generation database?
IV. DiscussionV. Appendix with Cases
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I. Framework for Discussion
A. Historical Context for Market Research and Market Analytics
Historically, Market Research and Market Analytics have inhabited separate but important domains both
aimed at “understanding the customer”
In the past, Market Research was typically deployed to address
strategic questions…those that were very broad and concerned the
management of the brand.
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Market Research Framework for discussion
Primary research provides key insights directly from consumers via custom or syndicated studies Product consumption Customer satisfaction Intent to purchase Share of wallet Brand Perception/Image Brand positioning Advertising recall AwarenessMessage effectiveness
Additional insights can be gauged by drilling down into consumer demographics to assess differences by age, gender, education, etc.
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Market Research Framework for discussion
Additionally, primary market research has been available to answer specialized questions, such as:
Package changes
Pricing
Point of Sale dynamics such as share of shelf
Competition within a market
Product availability
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Market Research Framework for discussion
While, market researchers as opposed to database marketing analysts lacked the database as a means to connect with consumers, they possessed the techniques and ability to “read the behavior or sentiment” of particular market segments.
While a market researcher, for example could recognize that his/her key demographic group is Women 24-35, who are looking for convenience and value, s/he lacked the lacked the ability to connect broadly with consumers through research.
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In the past, Market Analytics was used to measure the health of a particular business. Market Analysts provided sales data by market and assessed profitability levels by product line.
If the business was engaged in the direct sale of products to consumers Market Analysts could read the sales by internally developed market segments (Heavy buyers, Recent buyers, etc.)
In the past Market Analytics have referred to the analysis of data associated with sales internally to allow an enterprise to set a course based on the success of previous tactics.
Market Analytics Framework for discussion
Qua
litat
ive
Quantitative
* Focus Groups •Brand perception Aggregate
•Brand perception Segment
•Intent to purchase Aggregate •Intent to purchase
Segment
•Customer Satisfaction Aggregate
•Customer Satisfaction Segment
•Advertising recall
•Awareness
•Brand Positioning
•Message effectiveness•Message effectivenessby segment
•Sales trends
Marketing Information Mapping Before Social , Web Integration, Online tools adoption
•Defining marketing target
•Segmentation ofcustomers
•Pricing evaluation
•ROI analytics
•Marketing Mix Models
•Share of voice•Product distribution
•Web experience
•Search rank
•Word of mouth
•Customer LTV
•Market basket analysis
•Corporate Reports, KPIs •Campaign reporting
•Promotion effectiveness
•Cohort Analytics
•Web metrics•Media consumption
Black indicates realm of market researchBlue indicates the realm of market analytics
•BrandLoyalty
Quantitative
* Focus Groups •Brand perception Aggregate
•Brand perception Segment
•Intent to purchase Aggregate •Intent to purchase
Segment
•Customer Satisfaction Aggregate
•Customer Satisfaction Segment
•Advertising recall
•Awareness
•Brand Positioning
•Message effectiveness•Message effectivenessby segment
•Sales trends
Marketing Information Mapping Before Social, Web Integration Online tools adoption
•Defining marketing target
•Segmentation ofcustomers
•Pricing evaluation
•ROI analytics
•Marketing Mix Models
•Share of voice•Product distribution
•Web experience
•Search rank
•Word of mouth
•Customer LTV
•Market basket analysis
•Corporate Reports, KPIs •Campaign reporting
•Promotion effectiveness
•Cohort Analytics
•Web metrics•Media consumption
Black indicates realm of market researchBlue indicates the realm of market analytics
•BrandLoyalty
Qua
litat
ive
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I. Framework for Discussion
B. Evolving Context for Market Research and Market Analytics
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Evolution of market research and market analytics
Technological advances have enabled changes in both market research and market analytics.
Improvements in database structures, the adoption of the internet, and the penetration of smart phones have all contributed to a rapid evolution in both market research and market analytics.
Finally, the resulting availability of information, and the increasing demand by business to use information to increase marketing efficiency, drives the two disciplines, closer and closer together.
Lets take a look at the timeline of market research and analytics advances overlaid with technology advances.
1920 1930 1940 1950 1960 1970 1980 1990 2000 2010 2011
Arthur C. Nielsen creates
national radio rating service
in 1942
In 1946, Focus groups are invented by Robert C. Merton, a
famed social scientist
AC Nielsen begins to
measure TV audiences in 1950
Database marketing emerges as a new and improved form of
marketing in 1980. Many believe The Reader’s Digest Association to
be the Pioneer of this movement
InfoScan, the first scanner- based supermarket tracking
system is introduced by IRI in 1987
The first UNIVAC mainframe computer
delivered to the Census Bureau in 1951 First Apple PC hits
the market in 1976
First Commodore PC introduced in 1977
The fundamental technologies behind the internet were
developed in the early 1990’s
In 2009 broadband Internet use hits 63%
in the U.S.
Smartphone penetration end of 2010 stands at 31%
Database Marketing by Shaw and Stone, 1988
Online market research begins with the
introduction of such tools as Survey Monkey
in 1999
As of 2011, Facebook has over 600 million
active users and Twitter has 175 million
registered users
Market research conceptualizes in the
1920’s as an offshoot of the advertising boom of the golden age of radio
1993 The One to One Future by
Pepper and Rogers
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Evolving context of market research and market analytics
The role of market research over the last few years has evolved substantially.
Market research has evolved from gathering basic data on consumers and prospects through primary and secondary research techniques to now tracking online and mobile consumer conversations.
Today, there are various sources, both offline and online, through which consumers provide an array of information, information that is key to the brand’s future.
We can now actually see, for the first time via the web, how purchase decisions are being made. For example, how many different styles of handbags did the consumer consider before putting one in her cart?
Qualitative Research Then and Now
Focus Groups once held in specific facilities requiring:
Specialized and training moderators
Planned scripts, predetermined questions
Extensive timeline
High budgets including travel
Focus Groups once held in specific facilities requiring:
Specialized and training moderators Planned scripts, predetermined questions Extensive timeline High budgets including travel
Today, listening to the consumer can be ongoing via Social Media
Can read changes in consumer perceptions as they happen and react accordingly
If a controlled discussion is required, pure questions via Facebook or Twitter can be posted or one can consider an online focus group
Options are unlimited
Today, listening to the consumer can be ongoing via Social Media
Can read changes in consumer perceptions as they happen and react accordingly
If a controlled discussion is required, pure questions via Facebook or Twitter can be posted or one can consider an online focus group
Options are unlimited
THENTHENTHENTHEN
NOWNOWNOWNOW
Quantitative Research Then and Now
Monitoring brand awareness, ad recall, customer satisfaction or brand perception once required the use of surveys (mail or telephone).
And, changes in brand awareness over time would require the use of panels.
Monitoring brand awareness, ad recall, customer satisfaction or brand perception once required the use of surveys (mail or telephone).
And, changes in brand awareness over time would require the use of panels.
Today, we can monitor these via YouTube video views, tweets or blog posts
Influencers can be noted
And when controlled information is required the use of online surveys can be employed
Radian 6 can quantify the sentiments (positive or negative) of our brand versus competitors
Today, we can monitor these via YouTube video views, tweets or blog posts
Influencers can be noted
And when controlled information is required the use of online surveys can be employed
Radian 6 can quantify the sentiments (positive or negative) of our brand versus competitors
THENTHENTHENTHEN
NOWNOWNOWNOW
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Evolution of Market Analytics
Market analytics continues to evolve to incorporate all information attributable to an individual consumer into a consolidated database.
More and more companies are building databases as increased sales on the web take place.
Databases were already evolving to include more and more metrics and analytic scores. Incorporation of web data and proprietary surveys was a natural extension of capturing this information.
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Buzz metrics— “Listening in” to social media
Consumers today use social media to converse about brands online, sharing their opinions, feelings and grievances. The key for market research is to listen in to the ‘buzz’ created around the brand and garner meaningful metrics and insights. Use this information upon which to take the research to the next level.
http://www.tweetfeel.com/
Consumers today use social media to converse about brands online, sharing their opinions, feelings and grievances. The key for market research is to listen in to the ‘buzz’ created around the brand and garner meaningful metrics and insights. Use this information upon which to take the research to the next level.
http://www.tweetfeel.com/
Free Options
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Remember no data is perfect
is this really a positive sentiment?
Customer Contact Info/Customer Communication Preference
Current Contract Information
Complete Customer Purchase History and Web Visit History
Financial Information
Promotion History
Proprietary Survey Data
Demographics
Affinity Flags
SegmentationFlags
ModelScores
LTV In the data analyticrealm, if information can be
associated with an individual, it will be incorporated into a
database.
Fulfillment Information - -
lays the foundation
Building the Database
Marketing Data is then captured and derived
The pinnacle is building models and being able to
calculate a customers lifetime value
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Roles are evolving
Research is more important than ever. Now that we can speak directly to consumers quickly (email, social and mobile channels). It is more important to be relevant.
Researchers and Analysts can adapt to the changing landscape driven by technology to keep the marketers on message with consumers.
Researchers will collaborate with analysts in defining segments to ensure that messages are targeted.
The right message
To the right consumer
At the right time
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II. Exploring the idea of the Next Generation Database
What would it contain?
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What is the Next Generation Database?
Just as the evolution of powerful relational database platforms led to customer relationship management, the ability to house and manage social media content will enable a higher level of engagement with consumers.
The Next Generation Database will be a Knowledge Base containing not only the customer purchase behavior we now equate with database metrics, but also: communication synthesized from social media consumer provided data on product and communication preferences behavior on closed websites
information from portals designed to gather consumer preferences
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Customer purchase information
How is this new? Companies selling directly to consumers have been capturing and maintaining purchase behavior information for years?
In the Next Generation, more companies will be maintaining purchase behavior information or proxies for this information. Many companies not selling directly to consumers, have developed rewards programs, awarding consumers points for entering rewards codes. Metrics from such programs populate consumer databases. How will this information be used?
Assess product popularity (unique items in a product line)
Identify those most engaged with the brand
Engage with “brand influencers”-- those who will advocate for the brand
Manage the relationship with the consumers and protect against de-listing from big retail operations that drive high brand volume.
Leverage public communications posted in brand fan communities.
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Proprietary Web Behavior
Rewards programs and other web sites which recognize the consumer, can be mined for data to associate at a customer level for inclusion back into a database.
Since the site “remembers” the consumer, favorite pages, features, time on sight, etc. can be recorded. Then, targeted messages can be programmed on subsequent visits.
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Customer preferences
Thanks to the Internet and online survey options such as Zoomerang, it is more cost efficient to gather customer preferences.
Consumers who are highly engaged, will participate in surveys administered via a unique link which can then be integrated into a database. (e.g. twitter)
Often, such surveys are positioned to ensure “more relevant” communication to the consumer.
Other sources for consumer preferences include consumer portals who promise to match aggressive offers with those consumers who have expressed interest. Such portals also maintain consumer panels administering surveys online and via phone.
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Online web-based surveys – Free and easy to use ..so easy
even a marketer can do it
These online options are here to stay. So, as a market researcher,
the role shifts to advisor.
This phenomenon is not unlike 10 years ago when data mining tools made their way into the hands of
marketing causing concern for true data analysts.
Online Survey Tools…Here to Stay
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Consumer Discount Portal
Portals such as ShopatHome.com can assess consumer preferences through the web traffic, time on various parts of the site allow for “reading” what the consumer is interested in now: • Grocery deals• a new computer • discount apparel
Using this browsing information, they can target offers via email. Additionally, since they serve cookies to the consumer, they can recognize them upon return. They require the download of a special toolbar which allows the printing of coupons and in this manner they limit coupon fraud.
The privacy policy and consumer end user agreement spell out that they maintain a database of this information which is used to accurately calculate the cash back rewards a consumer is eligible for.
Some manufacturers require a second registration prior to the ability to receive a coupon. This allows them to capture consumer information to maintain for marketing purposes.
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"Social networking sites aren't just fads anymore. It's clear that they're here to stay, and the mining and analysis space on these treasure troves of data is extremely nascent. I really believe that the next one to three years will offer especially novel and rewarding opportunities for anyone who is willing to think carefully about the space and put in the sweat equity to work on the right problems."
--Matthew A. Russell, Mining the Social Web: Analyzing Data from Facebook, Twitter, LinkedIn, and Other Social Media Sites
Integrating social media opinions
http://www.infozine.com/news/stories/op/storiesView/sid/46053/**:http://nuancemarketing.net/2010/08/social-media-subscribers-infographi/
IssueIntegration of Social Media opinions in databases
**Social media subscribers by tool/network as of May, 2010
SAS text mining tools, from the premier data analytics software provider
Odin Text , from Tom Anderson, noted Market Researcher
Solution
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Buzz metrics— “Listening in” to social media
Two of the largest paid tools for social dashboard creation are Radian 6, and Trackur
Two of the largest paid tools for social dashboard creation are Radian 6, and Trackur
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Mining of Social Data…The Next Frontier
It isn't until you apply these findings on the level of your target audience that you'll find the full value of social media analysis
However, companies like SAS are working hard to resolve this. They have just created a new tool to mine such data (not just display it) in a more contextual manner.
http://bits.blogs.nytimes.com/2010/04/12sas-seeks-to-improve-data-mining-of-social-media/
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OdinText is a new actionable newly available Text Analytics tool developed by Anderson Analytics, specifically for use by market researchers and is intended for use on both survey and social media data.
Another Text Analytics Tool by Anderson
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The Gain
What would be gained via the integration of social media with a marketing analytic database?
The ability to listen into opinions about a product or brand while simultaneously aligning this information with purchase behavior.
Ability to segment opinions by heavy vs light users
Ability to segment opinions by demographic groupsMarketers could dialogue directly with consumers and gauge the
ROI of social marketing tactics Ability to include social marketing into marketing mix models
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According to Econsultancy’s Research Director, Linus Gregoriadis,
“An increasing number of online and offline customer touch points are making it even more difficult for organizations to ensure a consistent cross-channel customer experience based on the holy grail of a single customer view.”
A challenging goal:“Holy Grail” of customer information
http://econsultancy.com/us/press-releases/5264-business-struggle-in-quest-for-holy-grail-of-single-customer-view
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The Benefits
What benefits can be achieved in the integration of market research (via social media) into a marketing analytics platform?
Better sequenced and more relevant messaging to the consumer
Targeting offers more efficiently
Influencers –those active in social media with many followers
Insights into consumers’ motivations
Efficiency in resource allocation across all strategies
Listening in on sentiments about competitors
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Customer purchase cycle
Today marketers spend a great deal of time and money in the research of understanding the sales cycle.
Correlating social activity with behavior will allow new ways for marketers to identify new prospects, understand where they consumers are in making a decision based on their behavior and their social activity.
The evolution of tracking the time to close the sale (an analytic function)
will be married to the
Dialogue generated with social media (a research and testing function) to accelerate the consumer decision process.
This represents a new area of collaboration for market researchers and marketing analysts.
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Narrow idea of product or service
needed
Research and awareness stage . General category searches. “trucks” “best deals on trucks” “SUVS”
Evaluative stage. More targeted search terms in
order to evaluate multiple brands, providers, locations, options. “Toyota Tundra” “Ford Ranger options”
Consumer decides to buy product
Influencers. Consumer recommends or does not
recommend to others.
The Customer Purchasing Cycle Today
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III. Where are we now in the evolution of the fully integrated Next Generation
Database?
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Where are we now in the evolution of the fully integrated Next Generation Database?
Web behavior integrated into purchase database for a customer level view of purchase behavior and web behavior.
Currently the integration of web behavior with purchase behavior is not being done on a large scale. Companies with specific business models have taken the step of integrating online and offline data. Companies with rewards programs or requiring registration on their site are in a position to integrate online behavior and purchase data.
Requirement: Ability to match the online data with the offline data. Rewards id numbers allow all of the information to be tied together in a consolidated database
Staples
Staples maintains a relationship with their customers allowing them to monitor browsing information for targeting offers.
In addition, purchases from the brick and mortar locations can be merged to a customer’s online purchases if they are a member of the Staples reward program.
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Social Media integration
Although companies are providing buzz metrics (proving that social media data can be mined and organized into reports) social media is lagging with respect to integration into customer level databases.
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Introducing Social CRM
Jeremiah Owyang, an analyst at Altimeter Group has developed a framework for how Social CRM will be used. In his keynote to LeWeb, the premiere Internet conference of Europe, Oywang predicts that 2011 will be the year of integration for Social data*.
Based on Owyang’s predictions, the integration of Social behavior into a marketing database is very close to being a reality.
* Owyang was the keynote speaker for the December 2010 conference entitled: Social Business Forecast: 2011 The Year of Integration.
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Social Media data as “Enhancement data”
So industry analysts currently envision that social media interaction will be integrated in 2011 at a customer level. The vision is for companies to track the social media interactions with their own customers.
Consequently, providers in the database arena will be working on solutions using social media data to allow companies to mine large databases for prospects.
This is not difficult to imagine as with each new data challenge, a provider has emerged to address it.
What is not known is which data provider will be first to market with social media data which can be integrated at the individual level.
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Preference portals
Some industry professionals envision consumer preference portals which can serve as a traffic guide to alerting marketers with respect to preferences in receiving offers.
The vision is that a consumer would routinely update, signaling when they were ready for various kinds of offers.
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Preference portals
Currently large media companies allow consumers to manage their “privacy” settings by checking what communication they wish to receive from various business units.
A preference portal could be established as a co-op among various organizations in different verticals, that a consumer could frequently change settings depending what offers they are open to receiving at any given time.
Such consumers participating in such a portal would be hand raisers for the offers that they have expressed interest in, and marketers would find that they are more interested than cold leads.
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How will current marketing information be impacted by integration of Social
Media, Web Metrics and the Adoption of Online tools?
Qua
litat
ive
Quantitative
* Focus Groups •Brand perception Aggregate
•Brand perception Segment
•Intent to purchase Aggregate •Intent to purchase
Segment
•Customer Satisfaction Aggregate
•Customer Satisfaction Segment
•Advertising recall
•Awareness
•Brand Positioning
•Message effectiveness•Message effectivenessby segment
•Sales trends
Marketing Information Mapping Before Social , Web Integration, Online tools adoption
•Defining marketing target
•Segmentation ofcustomers
•Pricing evaluation
•ROI analytics
•Marketing Mix Models
•Share of voice•Product distribution
•Web experience
•Search rank
•Word of mouth
•Customer LTV
•Market basket analysis
•Corporate Reports, KPIs •Campaign reporting
•Promotion effectiveness
•Cohort Analytics
•Web metrics•Media consumption
Black indicates realm of market researchBlue indicates the realm of market analytics
•BrandLoyalty
Quantitative
* Focus Groups •Brand perception Aggregate
•Brand perception Segment
•Intent to purchase Aggregate •Intent to purchase
Segment
•Customer Satisfaction Aggregate
•Customer Satisfaction Segment
•Advertising recall
•Awareness
•Brand Positioning
•Message effectiveness•Message effectivenessby segment
•Sales trends
Marketing Information Mapping Before Social, Web Integration Online tools adoption
•Defining marketing target
•Segmentation ofcustomers
•Pricing evaluation
•ROI analytics
•Marketing Mix Models
•Share of voice•Product distribution
•Web experience
•Search rank
•Word of mouth
•Customer LTV
•Market basket analysis
•Corporate Reports, KPIs •Campaign reporting
•Promotion effectiveness
•Cohort Analytics
•Web metrics•Media consumption
Black indicates realm of market researchBlue indicates the realm of market analytics
•BrandLoyalty
Qua
litat
ive
Quantitative
• Focus Groups
Marketing Information Mapping After Social, Web Integration, Online tools adoption
•Marketing Mix Models
•Share of voice
Black indicates realm of market researchBlue indicates the realm of market analytics
Some information will be impacted minimally, executed or read through a new channel
Qua
litat
ive
Quantitative
•Brand perception Aggregate
•Brand perception Segment
•Intent to purchase Aggregate •Intent to purchase
Segment
•Customer Satisfaction Aggregate
•Advertising recall
•Awareness
•Brand Positioning
Marketing Information Mapping After Social, Web Integration, Online tools adoption
•Word of mouth
Black indicates realm of market researchBlue indicates the realm of market analytics
Other information will be read through a new source
Qua
litat
ive
Quantitative
•Message effectiveness•Message effectivenessby segment
Marketing Information Mapping After Social, Web Integration, Online tools adoption
Black indicates realm of market researchBlue indicates the realm of market analytics
•BrandLoyalty
Other information will be enhanced through the integration with behavioral data on the database
Qua
litat
ive
Quantitative
•Customer Satisfaction Segment
Marketing Information Mapping After Social, Web Integration, Online tools adoption
•Defining marketing target
•Segmentation ofcustomers
•Web experience
•Customer LTV
•Cohort Analytics
Black indicates realm of market researchBlue indicates the realm of market analytics
Still other information will benefit from the visibility of new dimensions of customer engagement
Qua
litat
ive
Quantitative
• Focus Groups •Brand perception Aggregate
•Brand perception Segment
•Intent to purchase Aggregate •Intent to purchase
Segment
•Customer Satisfaction Aggregate
•Customer Satisfaction Segment
•Advertising recall
•Awareness
•Brand Positioning
•Message effectiveness•Message effectivenessby segment
•Sales trends
Marketing Information Mapping After Social, Web Integration, Online tools adoption
•Defining marketing target
•Segmentation ofcustomers
•Pricing evaluation
•ROI analytics
•Marketing Mix Models
•Share of voice•Product distribution
•Web experience
•Search rank
•Word of mouth
•Customer LTV
•Market basket analysis
•Corporate Reports, KPIs •Campaign reporting
•Promotion effectiveness
•Cohort Analytics
•Web metrics•Media consumption
Black indicates realm of market researchBlue indicates the realm of market analytics
•BrandLoyalty
Qua
litat
ive
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Appendix
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Lets consider a few case examples of how social data and the web are being used to develop brands and product positioning. Let’s discuss the
pros and cons of each and points of consideration
Case Examples
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Customer perception case--Tide
Tide asked consumers what they would say in a love letter to Tide.
If one were to decompose the messages, there were finite themes expressed by various consumers
FragranceDependabilityInnovation (Tide pen)
Although they were asked about what they liked, the biggest dislike was the cost and some consumers asked for coupons.
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• In a break from traditional product sampling, sweetener brand Splenda sent Facebook fans last summer samples of its new Splenda Mist product to test reactions from consumers.
• Creating a Facebook following specifically to form a sample group is a new approach that allowed Splenda to gather personal information as well as all-important demographic data.
Case - Using Social for Sampling
• So far, the experiment has been successful, with Splenda passing out more than 16,000 samples of the new prototype product in just 2 weeks.
• Read the full story: http://www.insidefacebook.com/2009/07/14/splenda- uses-facebook-to-dole-out-16000-samples-of-splenda-mist/
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• Gatorade tracked how well a commercial featuring rap artist David Banner was doing by conversations about it on social media, according to a Mashable.com story in June 2010. It was a hit.
• So within 24 hours, the sports drink company worked with Banner to put out a full-length version of the song to distribute to its fans on Twitter and Facebook.
Case - Monitoring of Social Conversations
• Gatorade has also created a social media data room in its marketing department to monitor the brand in real-time across social networks.
• The room has six big monitors with seats around it for Gatorade's marketing team to track tweets relevant to Gatorade, its competitors, athletes the company uses as spokespeople and sports nutrition-related topics.
• It is staffed 24 hours a day, seven days a week. Wow!• http://mashable.com/2010/06/15/gatorade-social-media-mission-control/
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• Stephanie Hoppe, 7-Eleven’s senior director-marketing, knew there was an incredibly competitive market for iced coffee.
• But before entering the battle by expanding its own product across its network of stores last June, 7-Eleven needed to figure out the why that was driving consumer demand.
Case - Product Development in Social
• Using a tool called Digital Anthropology from Omnicom Group agency Rapp, 7- Eleven got a deep-dive analysis of what consumers were saying about why they drink iced coffee, what flavors they prefer, what presence its competitors had in the social space and what people were saying about their offerings.
• It’s not in a focus-group setting so we were getting explicit and authentic data,” Ms. Hoppe said. “It helped us create an effective campaign that was a little out of the norm for us in that it was sassy.“
• Read the full story here: http://www.allbusiness.com/marketing-advertising/market- research-analysis-market/12870260-1.html
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• Networked Insights, a social media company, has been tracking the buzz around some of the most popular players in the World Cup in search and on social sites.
• The data could provide insight into the implications for the future of these athletes who might have the influence for endorsement contracts.
• Those players that maintain buzz after their team is sent home show real potential as future endorsers.
• Read the full story here: http://www.mediapost.com/publicatio ns/?fa=Articles.showArticle&art_aid= 131356
Case – Understanding Awareness via Social