analyzing your market: how big data plus social equals better engagement

© 2013 IBM CorporationApril 7, 2023

Analyzing your marketHow big data + social equals better engagement

Ed BrillDirector, MarketingIBM Software [email protected]@EdBrill

mailto:[email protected]

© 2013 IBM Corporation2

Big data is moving beyond the hype

from surveillance cameras trade events per second

meter readings per annum

Analyze product sentiment

Predict power consumption

Monitor events of interestIdentify potential fraud

Prevent customer churn

call detail records per hour are images, video, documents…

Improve customer satisfaction

Volume Velocity Variety

5 100’sof Tweets create daily

12 terabytes

video feeds

million

350 billion 1.5billion 80% data growth

http://www.forbes.com/


“At the World Economic Forum last month in Davos, Switzerland, Big Data was a marquee topic. A report by the forum, “Big Data, Big Impact,” declared data a new class of economic asset, like currency or gold.

“Companies are being inundated with data—from information on customer-buying habits to supply-chain efficiency. But many managers struggle to make sense of the numbers.”

“Increasingly, businesses are applying analytics to social media such as Facebook and Twitter, as well as to product review websites, to try to “understand where customers are, what makes them tick and what they want”, says Deepak Advani, who heads IBM’s predictive analytics group.”

“Big Data has arrived at Seton Health Care Family, fortunately accompanied by an analytics tool that will help deal with the complexity of more than two million patient contacts a year…”

“Data is the new oil.”

Clive Humby

The Oscar Senti-meter — a tool developed by the L.A. Times, IBM and the USC Annenberg Innovation Lab — analyzes opinions about the Academy Awards race shared in millions of public messages on Twitter.”

“Data is the new Oil”

“…now Watson is being put to work digesting millions of pages of research, incorporating the best clinical practices and monitoring the outcomes to assist physicians in treating cancer patients.”

In its raw form, oil has little value. Once processed and refined, it helps power the world.


e.g. use Hadoop infrastructurefor storing

historical informatione.g. personalize co-marketing

offers based onlocation information

e.g. optimize supply chain with sensor data and warranty claims

e.g. customer 360o includingsocial media data

Multimedia

Sensor & Network DataWeb & Social

Interaction Data

TransactionHistory

Text, Content & Documents

Big data brings opportunities for new insight

Gain morecomplete answers Create new perspectives

Uncover new business opportunities

Reduce IT costs

4


Big Data is a Hot Topic Because Technology Makes it Possible to Analyze ALL Available Data

Cost effectively manage and analyzeall available data in its native form

unstructured, structured, streaming

ERPCRM RFID

Website

Network Switches

Social Media

Billing

Cost efficiently processing the growing Volume

50x

35 ZB

20202010

Responding to the increasing Velocity

30 Billion RFID sensors and counting

Collectively analyzing the broadening Variety

80% of the worlds data is unstructured

Establishing the Veracity of big data sources

1 in 3 business leaders don’t trust the information they use to make decisions


Single viewBusiness Data,

Social Data, Interactive data

Giving smarter relations and transactions for all users across (integrated) channels means better results.

Big Data and Social Business

+Data

+Data

+Data




Social business & Big Data engament components

- Multichannel customer experience building trust through efficient real time cross-channel experience, and personalized /

intelligent interactions.

- Social business building relations by knowing the customer through profile acquisition, social data acquisition, controlled social interactions

- Digital analytics and marketing automationMonitoring users behavior and automating interactions through individual lifetime data collection, segmentation, targeting, automation.



360-degree Consumer Profiles from Social Media

Personal Attributes• Identifiers: name, address, age,

gender, occupation…• Interests: sports, pets, cuisine…• Life Cycle Status: marital, parental

Products Interests • Personal preferences of products• Product Purchase history• Suggestions on products & services

Life Events• Life-changing events: relocation,

having a baby, getting married, getting divorced, buying a house…

Monetizable intent to buy products

Life Events

Location announcementsIntent to buy a house

I'm thinking about buying a home in Buckingham Estates per a recommendation. Anyone have advice on that area? #atx #austinrealestate #austin

Looks like we'll be moving to New Orleans sooner than I thought.

College: Off to Stanford for my MBA! Bbye chicago!

I'm at Starbucks Parque Tezontle http://4sq.com/fYReSj

I need a new digital camera for my food pictures, any recommendations around 300?

What should I buy?? A mini laptop with Windows 7 OR a Apple MacBook!??!

Timely Insights• Intent to buy various products • Current Location• Sentiment on products, services,

campaigns• Incidents damaging reputation• Customer satisfaction/attrition

Relationships• Personal relationships: family, friends

and roommates…• Business relationships: co-workers and

work/interest network…


Big Data Analytics to expand knowledge about customer profiles and measuring marketing campaign• Analysis of social media messages for large Media and Entertainment company to determine

reaction to movie commercials aired during the SuperBowl

• Insights based on 30M+ social media consumer profiles created by analyzing over a Billion messages

• Real-time evolution of insights correlated with the airing of the commercialKey Business Questions:

How many people are talking about the film ?• Intention to see the movie, Impact of

SuperBowl commercial

Who are they ?• Demographics, Influencers, avid movie

goers

What is the reaction ?• Categorized sentiment (plot, characters, …)• Comparison with competitive movies

Buzz Amongst Avid Movie-Goers Jan - Feb

The Lorax

Project X

John Carter

The Dictator

The Dark Knight Rises

Battleship

Spider-man

G.I. JoeGhost Rider

The Avengers

Act of Valor

Think Like a Man

21 Jump Street

Buzz Amongst Avid Movie-Goers During Super Bowl

Project X

John Carter

Battleship

Ghost Rider

21 Jump Street

The Dark Knight Rises

G.I. Joe

Spider-manThe Avengers

Act of Valor

The Lorax The Dictator

10% 20% 30% 40% 50% 60% 70% 80% 90%

Battleship

The Dictator

Gender

Top 10 Markets

Gender

Top 10 Markets

Female Male

Female Male

Gender

Top 10 Markets

Female Male

Act of Valor

Competitive Intelligence

Consumer demographics by movie

Comparing feedback by important microsegment (avid movie-goers)


Business Models based on connecting Virtual and Real Words: the AMEX model

American ExpressSmart Offer

A portal that collects special offers and discounts from

retailers and detail about the customer segment that is

target

Marketing segmentation engine that evaluate

customer profiles and select the best coupon to propose

Moble app and connection with Twitter, Facebook e

Foursquare to communicate with the customers and

enable viral effects

Just virtual Coupons are managed! Customers activate the coupon and receive on montly basis on the credit card account the equivalent of the coupon discounts after that transactions were registred


Putting Clients First – Where Are We?Success Metrics 2006 2010

Online Banking Active Clients 1x 1.8x

Synovate Online Banking Satisfaction 5th 2nd

Surviscor Email Benchmarking 13th 1st

Dalbar Ranking – Direct Investing n/a 1st

Forrester Online Banking Secure Site 3rd 1st

Forrester Online Banking Public Site 5th 1st

Online Sales 1x 2.9x

Online Service Transactions* 1x 2.0x

RBC Digital Strategic initiatives

- Improve the Online client experience and promote Online as primary service channel

- Expand breadth of services and capabilities

- Foster greater acquisition and growth orientation

- Improve information and channel management and develop enabling infrastructure

Social Intelligence- Personalized base on analytics- Customer service experts- Crowdsourcing on new productsCustomer sat: #5 to #1*

Example: RBC Capturing Prospect/Customer digital information for customer relation and marketing automation





An IBM View of Social Business


Bringing social tools into the enterprise

200 million tweets sent via Twitter per day

30 billion pieces of content are shared on Facebook each month

Wikipedia hosts 17 million articles

Find and share information instantly

Rise of social networking and mobile devices

People are empowered like never before

66% of online adults use social media platforms such as Facebook, Twitter, MySpace or LinkedIn

Smartphone and tablet shipments now outpace PCs

41% of GenY say social media is important to them in the workplace

64% of GenY download unauthorized applications at least once a week to get their job done

Source: Prescient DigitalSource: 20 Stunning Social Media Statistics, Written by Jeff Bullas

Source: Pew Internet & American Life ProjectSource: IDC Predictions 2 012 : Competing for 2 020


Traditional roles and processes across the business network are evolving, forever changing the way organizations operate

leading the conversations that define brands

self-forming teams around fast moving opportunities

becoming on-demand extensions of the enterprise

As barriers between people disappear, organizations are learning to tap into collective intelligence, advocacy and distributed talent to drive business results.

Employees Customers Partners


A social business optimizes interactions among people to gain a competitive advantage

By removing barriers, a social business allows people to apply expertise and insights that improve and accelerate results across business functions:

Customer Care and Insight

Product and Service Innovation

Workforce Optimization

EngagedTransparentAgile


Forrester model of social software adoption

http://blogs.forrester.com/gina_sverdlov/12-01-04-global_social_technographics_update_2011_us_and_eu_mature_emerging_markets_show_lots_of_activity


IBM is a social business

Workforce Optimization

IBM Human Resources utilizes social media for recruiting, employee education, sales training and leadership development.

Customer Care and Insight

To gain insight, IBM’s social sellers use social media monitoring applications to feed information about clients, prospects and competitors directly to their desktops.

Product and Service Innovation

Reducing project completion time by 30 percent, increasing re-use of software assets by 50 percent and cutting component costs by 33 percent.


IBM Social Computing Guidelines

http://ibm.co/yW8Jbh

• Written collaboratively with IBMers in 2005

• Provides both permission and direction

• Clarifies roles for employees


Not every IBMer is familiar with social media.

We’ve created training & guidelines on a range of topics – from Connections to social media basics to cybersecurity – as well as a recommendation engine, rewards & tracking, and strategic, sharable content.

Digital IBMer Hub


SME Eminence

KPIs KPI Definitions Metrics

Engagement

Reach

Amplification

Conversion

Marketplace interactions with content published by SMEs

Individuals online who have opted into SME communications

Marketplace sharing and redistribution of SME content

To be defined per the business objective / need. An example would be registrations on ibm.com yielded from SME social accounts

ViewsLikesCommentsLikesComments@mentionsClicks

SubscriptionsVisitorsVisitsSearch RankConnectionsFollowers

SharesInbound LinksRetweets

Registrations

The IBM SME Progress Report measures metrics that matter.

2020


Curation – The value of authentic voice


Opting In

Why Social Business? The Social Product Manager Self, Product, and Company Offense or Defense Picking a Fight Activate Your Advocates Tools of the Trade In Real Life Social Inside the Organization Risk Management in Social Business Putting Opting In into Practice Appendix: IBM Social Computing Guidelines


Thank you!

[email protected]: @edbrillFacebook: facebook.com/edbrilldotcom

mailto:[email protected]

http://www.edbrill.com/

analyzing your market: how big data plus social equals better engagement

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