IBM Webinar: Beyond the Hype, Using Social Media to Enhance Your Customer Experience

Business Analytics and Optimization

Beyond the Hype: Using Social Media to Enhance Your
Customer Experience

Create Relationships. Build Advocacy. Improve Loyalty.


Agenda
Shifting Customer and Marketing Landscape

Social Media Maturity and Customer Experience

IBM Cognos Consumer Insight – Demo

Selling Social Media Internally

Summary

2 Social Media Monitoring Discussion © 2011 IBM Corporation


What is social media?
Social Media is the democratization of information, transforming people from content readers into publishers. It
is the shift from a broadcast mechanism, One-to-Many, to a Many-to-Many model, rooted in conversations
between authors, people, and peers.

Brian Solis, Social Media Thought Leader



Social Analytics are in a hype cycle characterized by heightened if
not unrealistically high expectations…
Gartner Hype Cycle – Emerging
Technologies

Source: Gartner, September 2010



Social Media is not only influencing consumer behaviour but creating
vast amounts of new and valuable information

78%
of consumers trust peer
recommendations
Source: August 25, 2009, “The Broad Reach Of Social Technologies” Forrester report

770
million people worldwide visited
a social networking site.
Source: comScore, Social Networking Phenomenon



We have entered the age of the empowered consumer

Leverage Expect Demand
social consistent exactly what Get it now
networking and relevant they want or go
information elsewhere!

95 million 75% Skeptical $93 billion
Number of tweets sent Percentage of people who Amount in sales missed due
via Twitter each day believe companies don’t tell to out of stock inventory
the truth in advertisements


The evolving role of marketing

Tomorrow's
CMO

Today’s
Mission: Today’s plus:
CMO
+ Drive consistent interactions across all channels

+ Steward the complete customer experience
Mission: + Enable information & insight across the business
Understand the market and the customer
+ Anticipate customer needs
Build awareness and demand
+ Monitor and harness customer evangelism
Steward the company’s brand experience
+ Optimize outcomes and return on marketing investment
Drive brand strategy and execution



Transformational shift in marketing

Winterbury Group, October, 2010

30% + consumer media spending is through digital channels

Standardization of digital metrics is fueling wider adoption
Suppliers (agencies) continue embracing digital capabilities to get in front of
their customers



Implications ….



Agenda





Summary



Organizations are still trying to determine the right balance
of social media offense and defense
Protect or engage. Hide or reveal. Much depends on the business model and
constellation of constituents that can effect reputation, revenue and relationships.

Fear Opportunity

So What’s the Right Balance?

Social Analytics POV

Savvy companies tap into customer generated content to answer
key brand, R&D, corporate strategy and public relations
questions
What will What are the most What new products
How do consumers
talked about product should we develop?
feel about our new consumers from
attributes among Which products /
messages / ads? different segments
product categories? Is companies should we
say about our
it good or bad? acquire?
products?

How are consumers using our
products? What attributes do
they associate with them?

What are our competitors
doing to excite the market?

Are my spokespersons helping or
hurting my reputation?

Is there negative chatter around our sales
force that our Public Relations team or
training programs should respond to?



Understanding your goals and readiness for Social Media
Analytics
Considerations Questions for Marketing CMO’s and Sponsors
• What are your customer objectives:
Attract Customers
Increase Value of Existing Customer Relationships
Retain Customers
Assess • How do customer interact with you today?
• What are they interested in?
• Where do they hang out Online?
• Are there significant influencers that speak to your brand or products?
• Who are you targeting and why?
• What will you be measuring:
Share of Voice?
Measure Activation?
Brand Sentiment?
Influencers?
Sales over the life of the customer engagement?
• What’s your vision for social media and its integration into operational
marketing systems?
Integrate • How do you intend to measure the effects of social media on brand equity
and reputation, pipeline, and sales orders and margins?
• How will you integrate social analytics into other customer data analytics?


Customer example – consumer products
4-Point Strategic Plan for Social Media Analytics
Establish Social Analytics Center of Excellence
Establish Advanced Social Analytics Capability for Brands, R&D, Strategy, and
Public Relations
Progressively develop and roll out Social Analytics cockpit across brands and
organizations
Train Business Analysts within each organization to leverage tools & consumer
insights



Social Media Analytics helps organizations extend beyond traditional
segmentation and gain enhanced understanding of the consumer
Econometric:
Time until Real-estate &
Repurchase in Unemployment
Key Categories
Age +
Income +
Most segmentation Annual
Geography
approaches only Transactions
Annual Participation
focus here Spend in Loyalty
Level Program
Use of In-
Preferred House Credit
Product Card
Use of
Categories Service
Return / Programs
Preferred Exchange
Channel Behavior
Breadth of
Categories Social media analytics can provide an
Length of Shopped increased aperture of the consumer
Time as
Customer Response and the ability to see new patterns
to Media
and opportunities
Recency +
Frequency +
Value



Creating a path to customer analytics with social media
Gain a comprehensive real-
Achieve near real-time

1 Develop deeper
understanding of consumers
2 understanding of consumer
behavior, loyalty and
attitudes
3 consumer insight and
decision making

• Create better understanding of consumer • Refine consumer segmentation models • Act with speed to improve promotions
sentiments via social analytics and product introductions
• Align views of consumer segments
Unique Value Delivered

• Gain insight into shopper and consumer between CP and Retail • Operate near real-time at store level to
needs, preferences and behaviors dramatically improve performance
• Use analytics to optimize
• Capture and leverage insights to create merchandising, promotional and • Align all aspects of traditional and
differentiated product offerings marketing tactics digital consumer communication

• Gain multi-channel insights to provide • Continual improvement of all brand
• Plan more effective promotions and program elements
consistent brand experience new product introductions

• Listen to digital channels and deliver
personalized 1:1 communication

VALUE
Maximize margins by proactively
refining brand programs via live
Improved visibility of consumer market insight
behavior & perceptions Increase consumer loyalty and
reduction of brand ‘trade-offs’ Increase lifetime value of the
Aligned product offerings with consumer
consumer expectations and segments Improve category volume and profit
for retailers
Increase consumer awareness and
retention of brand attributes and benefits

16
Relative scopeMonitoring Discussion
Social Media and complexity of change © 2011 IBM Corporation


Agenda





Summary



The foundation for the solutions is IBM Cognos Consumer
Insight
Create Relationships. Build Advocacy. Improve Loyalty.

Grow Your
Business

Enhance Your
Reputation

Improve Your
customer experience



IBM Cognos Consumer Insight
Why choose CCI?

• The industry’s most scalable social
media analytic application

• The industry’s most scalable social
• Deep insight into consumer
media analytic application
sentiment from billions of blog posts
• Richer insight into consumer
and discussion boards of blog
sentiment from billions
posts and discussion boards
• More sophisticated analysis of
• Sophisticated analysis of consumer
preferences preferences and
consumer and interests
interests (Affinity and Evolving
(Affinity and Evolving Topics)
Topics)
• The only solution capable of
• The only solution capable of a
seamlessly integrating with
seamlessly integrating with a robust
robust business analytics
business analytics environment
environment



IBM Cognos Consumer Insight - Retail

Social Media Campaign Social Media Reputation Social Media Customer
Merchandise Management Public Relations Management
Manager
Customer Service Service Management
• Apply the analysis of key • Make call center staff more
• Search billions blog of posts, stakeholders and influencer
100,000 forums and discussion productive by quickly responding
sentiment to targeted public
groups to measure the to sentiment of consumer blogs
relations, investor relations or and posts, reducing call and email
effectiveness of your social media public affairs initiatives
campaign and the sentiment of volume with timely analysis
consumer responses
• Inform senior management of • Anticipate customer reaction to
improvements to reputation products and services with affinity
• Gain insight into affinity among stakeholders with
relationships in your search of relationships and evolving topics
consistent analytics using a
your campaign’s hot words to associated with searchable hot
standard sentiment dictionary words
more agilely and precisely modify
messaging for your campaigns
• Examine affinity relationships to • Improve customer lifetime, loyalty
anticipate new opportunities to and positive word-of-mouth
• Expand your social media engage audiences around specific
campaigns to incorporate other endorsements with rapid first-
subject areas
discussion contexts with analysis contact resolution
of evolving topics
• Easily configure business rules,
• Capture customer comments with
filters and analytics to more
• Target other social media precise filtering and drill though
quickly and precisely measure and
communities or communications respond to new events
channels

Create Relationships Build Advocacy Improve Loyalty



Merchandise Manager – Demo Example
To continuously review how relevant and attractive their
merchandise is perceived, they want to evaluate social media
sentiment on their product category to assess the scope of
awareness, hot word affinity and relationship to different products.

• Needs ability to assess product interest among shoppers
• Needs to evaluate shopping experience
Merchandise Manager
• Needs to assess promotions
• Needs to monitor sentiment vs. product sales

Social Media Analysis
Sentiment analysis of product category, sub-categories and
specific features
Drill down filtering capabilities to individual posts by geo
Affinity relationship with products and purchasing intent over
time, so promotional activities can be factored in
IBM Cognos Consumer Insight
Highly scalable to search billions of blog posts and
discussion boards
Easy to configure analysis to target consumer shoppers
Capacity to assess affinity of product features and intent to
purchase – and to correlate with sales



IBM Cognos
Consumer Insight



Agenda





Summary



Gain actionable insights through advanced analytics
Social Media Analytics Customer Analytics
Revolutionary customer segmentation approach
Understand whatInsight
Cognos Consumer the tailored uniquely to each client’s business model,
Foresight
marketplace is (or isn’t) saying
Front-end Reporting customer data, and operational practices
Dashboard
about your brand, product,
Discovery
Time until
Econometric:
Real-estate &
Unemployment
service, etc. Repurchase in
Key Categories
Age +
Income +
Understand who

+
Geography
Annual
Transactions your customers are.
Understand the tone and Annual
Spend
Participation
in Loyalty
Level Program
impact of that conversation. Use of In-
Preferred House Credit
Product Card
Use of
Categories Service
Return / Programs
Identify areas of opportunity to
Create Point of View
Preferred
Channel
Exchange
Optimize investment strategies
Behavior

Analyzing help shape that conversation
Breadth of
Taxonomies Analyzing Relationships Length of
Optimize spend by Categories
Shopped
Predict ROI
and to gather valuable market Time as
Customer
geographic area
Response
by area
intelligence. UnderstandRecencyto Media
what your
+
customersFrequency doing.
are +
Value

= Actionable Insights
Optimize marketing spend, convert customers, shape public opinions, stay ahead of
emerging trends, build brand awareness and loyalty


Social media approach …. Internal stakeholders
What are the key constituents to justifying a social media and
customer analytics approach ….

● 88% of CEOs will focus on getting closer to their customers in the next 5 years. What’s our strategy to get closer to
customers to better meet their needs, drive greater loyalty and profitability? (Source: CMO Study 2009)
● Time to reach mass audience has shortened from 38 years 3 years with social media...Twitter reached 50 million users in
3 years. How can we be more nimble and cost-effective in our approach to acquiring and retaining customers to meet
revenue objectives? (Source: CMO Study and Gartner CEO Study, 2009)

● Brand contributed to 68% and 71% of Disney’s and MacDonald’s market capitalization respectively. Shouldn’t we measure
the business impact of our brand’s performance using social media? (Source: Interbrand)
● Kryptonite’s faulty bicycle lock started with one compliant and over 10 days reached up to 1.8M posts, forcing the company
to spend $10M in free product exchanges. What can we do to anticipate and quickly manage crises and threats to our
reputation?
● Analytic-driven organizations outperform their peers in revenue, EBITDA, return on invested capital. Are we capable of
getting a consolidated view of customer and supportive analytics? (Source: CFO Study 2010)

● Consolidated management of social and customer analytics with technologies that provide insight into structured and
unstructured customer data for a consistent view across the organization. Are we able to get a consistent view of the
customer across different technologies?
● Packaged social media analytics that assesses customer and stakeholder perceptions that can scale with business needs
and minimize IT support. How can we consolidate the number of vendors?
● Seamless BI glide path to existing Cognos and integration support for other IBM assets, helping you more effectively gain
insight into your customer data. What’s our social media IT strategy and how can it be connected to wider enterprise
imperatives?


GBS Business Analytics Optimization

• No Question - The richness of social media data and the unbounded growth of user
generated content found in networks, communities, blogs, forums, etc., on the web provides
an exceptional opportunity for companies to more effectively listen to and discern what
being said about your products and services by real people passionate about their beliefs:
• Social media monitoring tools provide and excellent opportunity to listen, analyze and
evaluate conversations to understand more about key issues and/or how a company may be
viewed by influential members of important communities

• However, the answer does not lie in technology alone. As a matter of fact, applying
technology without a strong understanding of customer objectives, subject areas and
capabilities of analytical tools is not very useful or productive.
AT IBM, we believe that as designers, developers and users of social
media tools who live and breath social media we can provide strong
results for companies to evaluate for how to successfully integrate
social media into current business processes and objectives

• We would be happy to structure a project to address your unique social media monitoring
needs

26

26 26 Social Media Monitoring Discussion © 2011 IBM Corporation


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