what's the social graph worth?
DESCRIPTION
A proposed brand framework to more rigorously evaluate and respond to the present and future opportunities for the promised social graph.TRANSCRIPT
What’s the Social GraphWorth to You?
Paloma M. Vazquez@pmvazquez
The ‘social graph’ entered the lexicon of digital strategy in 2007*. But the debate as to its present and future form continues today.
It is also alluded to as the pot of gold data at the end of the social network rainbow. Because that relationship data identifies how people are connected, it’s valuable to many - including to brands.
But data is only as good as the action it allows you to take. With that in mind, this is a proposed brand framework to more rigorously evaluate and respond to the present and future opportunities for the promised social graph.
* The social graph is a term coined by Mark Zuckerberg of Facebook, which originally referred to the social network of relationships between users of the service provided by Facebook.
It has been described as "the global mapping of everybody and how they're related".
In a recent post, Pinboard’s Maciej Cegłowski argues that ‘The Social Graph is Neither’, as it fails to fully mirror the dynamic nature of relationships.
We begin with a loaded term
We’re working within an imperfect, inconclusively
defined system.
It’s not a graph: A true graph would employ a universal language and definition of the nodes (or users) and the edges (or type and strength of connection) that bind them.
It’s not social: The static and incomplete description of each relationship doesn’t mirror the true, evolving nature of social relationships.
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The current structure of the ‘social graph‘ is limited in classifying the strength and nature of social relationships. To illustrate, Facebook currently captures select dimensions of connections:
Today’s graphs consist of vague connections
Connection Strength
Loose, established via user’s ‘Like’
Strong, established between two users
Unknown in duration or depth, established by someone accepting request
✤ Connection to the brand (Liked)
✤ To friends
✤ Family (if identified)
✤ Romantic partner (if identified)
✤ Organizations or interests (Likes)
✤ Co-workers (if identified)
User Brand/s
Friend
FamilyPartner
Member Organization
Colleague Affiliations (Likes)
}
A ‘Like’ is a loose relationship because it does not always translate into active participation, nor permanence - and
can be just as easily lost as it can be bought.
An evolved social graph would mirror the nuanced, dynamic nature of relationships and the strength of each bond.
Describing the ideal social graph
Recognize that not every relationship is positive. In fact, some ‘Likes’ are downright contentious.
A ‘Like’ would differentiate between active participants, those that simply listen, those that purchase the brand but don’t necessarily participate in the community, and even those whose participation is simply to provoke.
}
In spite of light of the current state of the social graph, brands are employing connection (or relationship) data across social platforms.
These brands have taken an iterative start towards creating valuable experiences
with relationship data.
Connections provide reassurance, benefitting the brand as broker of relationships.
AIRBNB INTEGRATES FACEBOOK CUSTOMER CONNECTIONS TO PROVIDEA PERSONAL REFERENCE FOR THE PROPERTY HOST, IDENTIFYING COMMON FRIENDS.
Social behaviors inform relevant offers, benefitting the brand as agent for desirable experiences.
AMERICAN EXPRESS’ “LINK, LIKE, LOVE” PRESENTS TARGETED OFFERS BASED ON THE SOCIAL ACTIONS TAKEN BY USERS AND THEIR COMMON CONNECTIONS ON FACEBOOK.
Connections verify the merchant, positioning the platform as broker of social validation.
FOURSQUARE OFFERS TARGETED RECOMMENDATIONS BASED ON CONTEXT-APPROPRIATE SHARED BEHAVIOR WITH AN INDIVIDUAL’S SOCIAL CONNECTIONS.
In the interest of time and space, we tipped our hat to three. But for further reference, see:
And of course, there’s more...
Levi’s Friends Store
TripAdvisor’s ‘Cities I’ve Visited’
Lacoste Live
etc.}
A brand can assess the value of relationship data to their business - both now and in a potentially more defined future - by first identifying that data’s potential application.
A brand can then assure it has the capabilities to respond to that data.
A brand’s capabilities must reflect its objectives
To capitalize on an informed social graph, a brand should first identify the valuable outcomes desired from additional relationship and behavioral data.
1) This preliminary framework with broad (read: illustrative) examples can be updated to reflect a brand’s unique ecosystem and objectives.
2) A brand can then determine if the capabilities and infrastructure required to deliver on those applications are in place...
}...and establish priorities to employ or create them.
The brand frameworkA PROPOSED APPROACH TO ALIGN DATA CAPTURED TO ACTIONABLE APPLICATIONS
Advertising X% lift in engaged customers
Audience segments with shared attitudes and behaviors (number of liked sports properties)
Display personalized ad to relevant audiences
Targeted Content X% lift in shared brand content and Y% lift in audience base
Customer segments informed by social behaviors (checked into a farmer’s market)
Exclusive partnerships aligned to precise interests
Targeted Offers, Promotions
X% lift in customer spend, Y% lift in redemptions
Customer visitation behavior per segment; type of visitation (family vs. business)
Rewards targeted to clusters that visit together
Customer Service X% lift in customer defection or Y% lift in avg spend
A dossier of frequent behaviors and key relationships of highest-value customers
Personalized experience for highest-value customers
Product and Service Customization
X% lift in total revenues or Y% lift in key brand equity measures
Dossier for customers depicting most social offline behaviors (with diverse, connected and active connections).
Custom and connected products tailored to customers with most valuable and social behavior
Channel(The Brand Ecosystem)
Valuable Outcome(A Measurable
Objective)
Social Data Needed(Detailed Data Requirements)
Potential Application
(Verify Actionability Within Existing Infrastructure)
Also fairly simple, requiring limited
time and resources to execute.
Requires evaluation of current customer service ecosystem,
database capabilities.
The epitome of customization possible, factoring in detailed behavior and
preference data; ideally targeted to highest value customers.
Lowest hanging fruit;
broadest applicability
across customer
base.
May require additional resources to secure
appropriate partnerships and platform
relationships.
1:1 Product,Service
Customization
Customer Service
Targeted Offers, Promotions
Targeted Content
Advertising
This hierarchy can guide
prioritization based on
immediate actionability
across broadest audience base.
In short, the ‘social graph’ is a loaded term (and idea). It’s currently imperfect, comprised of relationships of unclear nature and strength. But its limitations have not stopped brands from creating valuable customer experiences with existing data.
We recognize that relationship data captured by the social graph is valuable - now and in the future. For brands to assess that value more rigorously, this is a proposed framework to ensure that every action and investment has actionable purpose for the business.
It’s an iterative work in progress.
Thoughts, questions and conversation welcome.
Paloma M. Vazquez @pmvazquez