This document is a presentation about using social media for consumer insights. It discusses how social media monitoring began with engagement but is now used more for insights and planning. Around 18% of researchers are currently using social media for insights generation. The presentation recommends companies collect relevant social media data, exclude wrong data, have someone review the data in context, properly weight the data, and consider privacy issues when using social media for research. It concludes by introducing the company Conversition, which focuses on providing trustworthy social media research data and insights for agencies and companies.
1. Beyond fan pages: How social media can be used to
drive consumer insights for your whole business
Michael Mayers, Vice President, Business Development
12pm CST, Wednesday September 28th 2011
#rnwebinars
2. Today’s agenda
What is social media research, where is it right now, and
what are the implications for my business?
How can social media research be applied and drive value
for my clients?
What should we be thinking about when it comes to using
this in my business?
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3. Social media monitoring began with corporates and
the goal of engagement
38% of bloggers post 1 million 500,000
brand or product reviews new members join LinkedIn videos are uploaded onto
each month YouTube each day
Twitter was averaging
27 million 78%
Flickr hosts more than
of 18-21 year
tweets per day at the end of
olds trust the opinions of
others about products /
4 billion
last year services rather than traditional images
advertising
Purpose built Facebook pages At the current rate Twitter will
have created more than
70% of bloggers are
process more than
5.3 billion organically talking about
brands on their blog
10 billion
fans tweets this year
Sources: (1) Jake Hird, Econsultancy, 20+ Mind Blowing Social Media Statistics Revisited http://econsultancy.com/blog/5324-20+-mind-blowing-social-
3 media-statistics-revisited (Jan. 29, 2010). (2) Leoni, Joanne PhD. (2010). “Social Media: A Way of Life and Business.” Presentation at the 2010 Florida MRA
Education Event in South Beach, FL, April. (3) Wikipedia
4. Engagement tools become increasingly adopted…
• Customer education
• Product launch marcoms
Engagement
• Customer service workflow
• Drive brand loyalty
• Ad effectiveness & campaign evaluation
• Media, digital strategy planning and modeling
• New Product Development
Insights & • Category level insights – U&A
Planning • Brand monitoring & competitive profiling
• Social/behavioral research
• Crisis management
…and now Insight & Planning tools come of age
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5. Adoption amongst researchers is accelerating into
the early majority
18%
of researchers are currently
using social media for the
purposes of generating
consumer insights*
• Innovate by augmenting traditional methods
• Accelerating insights and strengthens client relationships
• Full service providers offer hassle-free integration
• Relatively low total cost of ownership
• Drives competitive advantage
5 *Source: e-Rewards, Inc. client survey, August 2011
6. Today’s agenda
What is social media research, where is it right now, and
what are the implications for my business?
How can social media research be applied and drive value
for my clients?
What should we be thinking about when it comes to using
this in my business?
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8. An assessment of the flyer experience
Parking
Competence
Accessibility
CrowdingEating
Punctuality
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9. An assessment of the flyer experience vs peers
Competence
3.7 More positive
3.5
3.3
Punctuality 3.1 Accessibility
2.9
2.7
2.5
Eating Crowding
Parking
Gatwick Airport Travel Airports
9 Data collected by Conversition for period 1st February – 1st August 2011
10. Gatwick is the airport…but we recommend getting
there by car
Travelers heading to Gatwick Airport
by train faced long delays after a
burst water main caused a landslide
dumping tons of sand onto the
tracks... Trains to Gatwick airport delayed:
After leaves and snow on the line,
now it's SAND...
Gatwick Airport travel chaos as
rail line floods after burst water
RE: Gatwick Express Trains
main... (&London/Brighton) are
cancelled [1 Aug reduced
service 2 Aug]...
10 Verbatims collected by Conversition for period 1st February – 1st August 2011
11. A look at Bank of America
Overall Sentiment
3.4
3.35
3.3
More positive
3.25
3.2
3.15
3.1
3.05
3
2.95
Note: Non zero scale
2.9
Jan-11 Feb-11 Mar-11 Apr-11 May-11 Jun-11 Jul-11 Aug-11
Bank of America Financial Services Retailers
11 Data collected by Conversition for period January 1st – August 31st 2011
12. A deeper dive reveals some driving issues
Bank of America: Most Negative Themes
14000 60%
12000
52% 50%
10000
Negative Sentiment (%)
Sample Size (Volume)
40%
41%
8000
35% 34% 34% 30%
6000 28% 28%
27%
20%
4000
10%
2000
0 0%
Error Honesty Waiting Intelligence Mortgages Punctuality Fee - Aggregate Bank Loan
% Negative Sample Size
12 Data collected by Conversition for period January 1st – August 31st 2011
13. August 8th – 14th: A notable drop in sentiment
State Files Suit Against Bank
of America Unit in
Foreclosure Mess AIG sues Bank of America for
$10B over mortgages
GUESS WHAT!!! BANK OF AMERICA
Countrywide folded into
TRIED TO FORCLOSE ON A FAMILY THAT
HAD PAID CASH FOR THEIR MORTGAGE.
Bank of America is the
albatross that won't go away
for BAC
They’re knee deep in the prime
mortgage scandals
13 Data collected by Conversition for period 8th – 14th August 2011
14. Source analysis reveals planning priorities
Source Analysis for Bank of America
100%
90% 21% 19% 26%
28% 30%
80%
Positive
70%
Neutral
60% Negative
50% 45% 54% 57%
48% 51%
40%
30%
20%
10%
27% 25% 24% 23% 23%
0%
facebook.com wordpress.com twitter.com blogspot.com reuters.com
14 Data collected by Conversition for period 1st January – 31st August 2011
15. Today’s agenda
What is social media research, where is it right now, and
what are the implications for my business?
How can social media research be applied and drive value
for my clients?
What should we be thinking about when it comes to using
this in my business?
15 #rnwebinars
16. #1: Collect relevant data…because customers aren’t
as careful with your or your client’s brand as you are
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17. #2: Exclude the wrong data...because a key word
search is not a brand search
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18. #3: Someone must sense-check the data in context…
because customers shooting each other is a bad thing
(unless the subject is online gaming)
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19. #4: Weight the data properly… because the Twitter
Firehose sounds cool, but not if you are trying to get
a balanced view from consumers
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20. #5: Sit on the right side of the privacy debate…
because guidance may turn into legislation
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21. About Conversition
• Founded: 2009
• Offices: New York, Toronto
• Corporate parent: Part of the e-Rewards, Inc. group and a partner company
to Research Now
• Focus: The needs of the agency or corporate market researcher
• Corporate mission: To provide clients with trustworthy social media research
data from which you can draw rich insights and drive competitive advantage
for their business
Email us at: Hello@Conversition.com
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