BrandSavant

Gaining Insight From Social Media Data

Last week’s post on six degrees of social media monitoring inspired a lot of great comments, especially from some of the folks at the sharp end of the stick who are working for companies like Radian6, Conversition, Trackur and others. I’m pleased that you’ve all connected with this post, because I think you all have a role to play in a much larger endgame. Radian6’s Amber Naslund posted today about connecting the dots between social media engagement and other functions/departments within companies. I think part of the disconnect she addresses–a small part, but a part–is the over-emphasis on the tactical aspects of social media (brand mentions, customer complaints, even sentiment) and not enough on what mining the social web could become. As much as I love “buzz tracking” and “trending topics”, if that is all that the tools are used for, those are the conversations you’ll be part of. Mining what Katie Morse and her colleagues have at Radian6, or what Annie Pettit has at Conversition, Andy Beal at Trackur, or Larry Levy has at Jodange, etc. to show the deeper levels of insight into future products and services possible from truly analyzing the social web will get these conversations started at higher levels within the company.

Amber talks about creating an attitudinal shift within the enterprise, but the leaders in the social media monitoring space have a bigger stake and role to play in making those shifts happen. If you all can show the strategic value of your data–not just in providing a record of the past, but by actually providing insight into the products and services customers might want to buy in the future, you’ll have the CEO herself monitoring her Twitter dashboard every day. The social web, and the newly empowered consumer it has created, will become elevated from marketing channel to part of the very theory of the firm.

Take our biggest research project, for example–my company is the sole provider of exit polling data for the major news networks during U.S. Elections and Primaries. In the short term, our data provides our clients with content–who voted and what issues were important in the decision. In the long run, however, trending all of that data and mining it over time allows us to capture and predict much more profound migrations in the electorate. You all have a similar power–and a similar charge. The trend is your friend–and really mining the migration of the character of social media discussions over time to show the tectonic shift in customer expectations will be the real key to showing everyone in the enterprise that human business has changed, and corporate attitudes have to change just to keep up. So, by all means, keep tracking the Oscars, or SXSW or a thousand other interesting, buzzworthy items (we do!) but also show us what you can do at the 50,000 foot level, where the folks who really need to hear these conversations reside. Those are conversations I’d love to have. So let’s start them here!

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On SXSW And Twitter

by Tom Webster on March 9, 2010

344ED6A5-DC58-42BA-90CA-450B89CC233C.jpgJust a thought.

As I write this, we are days away from the trend-making interactive, music and film fiesta-val that is South by Southwest (SXSW). I’ve never been (I seem to always have a conflict) but like you I’ll be able to follow along the “backchannel” by monitoring Twitter. I fully expect that come this weekend, “SXSW” will be a trending topic on Twitter, and will likely stay there for days if not weeks.

If you agree with that (and if you don’t, by all means say so in the comments), you then have to ask yourself why that will likely be so. Is it because SXSW is so globally important? Or because Twitter’s reach far exceeds its grasp? I think you know the answer to that question.

I certainly don’t want to come off as a curmudgeon here–I use Twitter daily–but consider this: very soon, as the darling-of-SXSW mantle is passed from Twitter to Foursquare/Gowalla and Plancast, your Twitter stream is going to be polluted with people checking in as “the mayor of Austin Convention Center” or getting swarm badges at Stubbs. If that is in fact what you see, it’s a sure sign that you need to broaden your horizons a bit. Twitter is what you make of it, and it is a poor potter that blames the clay. So when you get sick of SXSW tweets, remember that the Twitter selection bias is easily preventable.

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If you connect with a company via social media, it’s likely to be someone in Marketing, or Customer Service. It might be an evangelist, or a community manager, or even the CEO. But when you then reach out to that company to explore some kind of business relationship–i.e., you want to spend money with them–you then don’t speak with that person. You speak with someone in sales–and all too often they don’t have the context, the connection or the relationship. These interactions are rarely as satisfying. This, it seems to me, highlights two important issues:

1. Social Media engagement shouldn’t be constrained to any one departmental silo.

and

2. Your company is probably not ready for #1.

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Six Degrees Of Social Media Monitoring

March 5, 2010

A few days ago I posted my thoughts on social media monitoring for market research.One thing that has become apparent to me over the past few months is that there are a lot of folks using social media monitoring tools to listen for brand mentions, but truly they are capable of so much more with [...]

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Building Brands Online

March 3, 2010

I am honored to have been asked to moderate an upcoming panel called “Building Brands Online/Building Online Brands,” at this year’s Radio And Internet Summit at the NAB in Las Vegas. If you are at all involved in streaming media or online music of any kind, this is the place to be, trust me. I’ll [...]

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Foursquare, Loyalty Cards And Market Baskets

March 1, 2010

There’s a fantastic interview on O’Reilly Radar today with Dennis Crowley, co-founder of Foursquare. Of course, the topic of revenue models came up, and one of Crowley’s ideas was to create “scrappy promotions” for local businesses–check in five times at the same coffee shop and get a free cup, for instance. The “loyalty scheme” is [...]

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Social Media Monitoring 201: The Market Research Perspective

February 25, 2010

So, you’ve taken the big first step in social media for your business: listening. You’ve set up Google Alerts for your brand, done some Twitter searches, and maybe even signed up for some heavy duty monitoring services from the likes of Radian6, Trackur or Tweetfeel. Sentiment analysis is far from perfect, but on a pretty [...]

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The First Step In A Social Media Campaign

February 22, 2010

There are lots of ways to measure the effectiveness of social media campaign, but only one right way to start. Before you start a Facebook Fan Page, or open a corporate Twitter account, the one mandatory step you need to take to be sure any of it is worth your time is to identify the [...]

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The Twitter Selection Bias

February 10, 2010

I caught myself doing something today that is ultimately counterproductive. Maybe you’ve done the same thing.
The post I wrote yesterday on the great Forrester Analyst Blog Kerfuffle seemed to hit a chord with some people, and I was very fortunate to have the post picked up on Social Media Today. This led to a lot [...]

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Why Forrester Made The Right Call About Employee Blogs

February 9, 2010

Information wants to be free. Forrester wants to charge you for it. Even before the recent decision by Forrester to forbid its analysts from blogging about their coverage areas on personal blogs, these two facts were headed for a collision.
First, let’s be fair: Forrester isn’t stopping employees from blogging about things outside of their [...]

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