pipeline 2011 presentation draft 4
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Expanding your connection to the consumer: How social media can impact the innovation process
Malcolm De LeoChief Evangelist
NetBase SolutionsJune 1st, 2011
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.22
The Content Explosion
988 Exabytes per Year
=All books ever written
x16 million
420 PETABYTES of Web Content created every year
=
All Books Ever WrittenX
6,800
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.3
Social Media is a Fact of Life in 2011
users as of Jan 2011
Fastest growing segment: Females
Over Blogs
post/tweet daily
post brand opinions
trust peer reviews
skip ads
Source: “Socialnomics”
of Internet users are on social media
are on social media
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.4
How does social media impact our lives?
Social MediaInfluence
Political
Corporate
Personal
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Industry Leaders Speak about Social Media…
“Should you do social media? That’s like someone asking if they should buy a light bulb after electricity was invented.”
Dana Anderson SVP Marketing
Kraft Foods
“Traditional survey research needs to evolve and transform. The future of market research is increasingly about listening to what consumers are already saying.”
Stan Sthanunathan VP Strategy and Global Insights
Coca-Cola
“The only way to stay on top of your online brand equity is to track buzz, net sentiment, and passion – the three distinct facets of your social media P&L.”
Tom Wagner VP of Consumer Insights & Brand Planning
Taco Bell
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.6
What is the Social Media P&L? What is the Social Media P&L?
BuzzTotal Brand Mentions(100 % of data)
SentimentPositive/Negative Mentions(~20% of data)
PassionLove, Like, Dislike, Hate(~2 % of data)
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.7
How Social Media fits into a Product Development Context
Broad SamplingLow High
Netnography
Dep
th o
f Ins
ight
Low
High
In-depth interviews
Focus Groups
Ethnography
Test Marketing
Surveys (intercept)
Surveys (online)
Surveys (phone)
In-store observations
Articulation
Lower Bias
Transparent
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The Importance of Natural Language Processing
The iPhone has never been good.
The iPhone has never been this good.
Natural Language Processing creates accuracy
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Social Media and the PRD lifecycle…
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ProductTracking
Track Issues, Opinions & Sentiment
Competitive Landscaping
On Demand, Anytime,Anywhere
InnovationDiscovery
Identify the Next Big Thing
Issue Management
Sentiment, Passion, etc.
Attribute Assessment
Test Development Approach
Launch Planning
Comparison & Tracking
TrackBuildExplore
Idea Gen – Concept Dev. Assess - Commercialize Launch
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.10
A Few Social Media Focused Questions…
PringlesAfter the Launch
Keeping an eye on the social media store
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An Overview of the Pringles Brand…
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A deeper look at the conversation
Over 240 Re-
tweets
150 Re-Tweets
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What could you do with information?
If you’re Pringles…• Is this torture real for consumers?• What would relieve it?
If you’re a competitor…• Create a “torture campaign”• Make Peter Griffin your spokesman
Total time to generate this insight15 minutes
ListerineCreating Innovation
Developing new ideas
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.16
How does my Social Media PNL compare?
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Listerine Brand Audit: Why do they like it?
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Listerine Brand Audit: Why don’t they like it?
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Potential Actions
Insight
Social Media Data in Action….Developing Insights.
Develop a gentle version of
Listerine.
New product could be called
Listerine with Soothing Power.
Investigate one consumer’s idea
of a peroxide-based mouthwash.
(hint: use illumin8)
The biggest issue raised by
consumers is that Listerine is too
harsh.
This theme was 14% of negative
comments.
Listerine is too strong for me that it sometimes had a tendency to hurt the sides of my mouth.
Listerine is too strong for me that it sometimes had a tendency to hurt the sides of my mouth.
There isn't the sting that you get from Listerine, but you do feel.There isn't the sting that you get from Listerine, but you do feel.
The listerine likely irritated it, it has a high alcohol content.The listerine likely irritated it, it has a high alcohol content.
@lordtrilink Listerine is oral death.@lordtrilink Listerine is oral death.
Sometimes... when the listerine is too strong and I want the "sting" to stop.Sometimes... when the listerine is too strong and I want the "sting" to stop.
It's pretty cool, and normally one can find peroxide for less than a dollar a bottle, whereas Listerine is quite expensive and burns while peroxide does not.
It's pretty cool, and normally one can find peroxide for less than a dollar a bottle, whereas Listerine is quite expensive and burns while peroxide does not.
JK The alcohol in the listerine could cause soreness if you do it for too long though.JK The alcohol in the listerine could cause soreness if you do it for too long though.
Listerine might be a little harsh.Listerine might be a little harsh.
Feb
2010
August 2010
| Confidential | © 2011 NetBase Solutions. All Rights Reserved Worldwide.20
What are the key takeaways/actions
• WHY Social Media as part of an innovation strategy? It faster, cheaper and less biased Social Media is now the elephant in the
room The suggestion box is public Your market research wears no clothes
anymore
www.NetBase.com
Twitter: @innovationmuseBlog: innovationmuse.blogspot.com
mdeleo@netbase.commalcolmdeleo@yahoo.com
Thank You!
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