Brand Monitoring and Conversation

TrackingAn Insight

More than 750 million active users 50% of active users log on to Facebook in any given day Average user has 130 friends People spend over 700 billion minutes per month on

Facebook There are over 900 million objects that people interact

with (pages, groups, events and community pages) Average user is connected to 80 community pages,

groups and events Average user creates 90 pieces of content each month More than 30 billion pieces of content (web links, news

stories, blog posts, notes, photo albums, etc.) shared each month

Quick Facts

In March 2011 there are an estimated 225 million users 25 billion tweets sent on Twitter in 2010 100 million new accounts added on Twitter in 2010 140 million is the average number of tweets people sent

per day in February 2011 77 million tweets sent on March 11, 2011. The current TPS record is 6,939 tweets per second set 4

seconds after midnight in Japan on New Year’s Day There are over 100,000 Twitter applications 75% of Twitter traffic comes from third-party applications 60% of all tweets come from third-party apps

Quick Facts

• First Mainstream Hindi Film financed by crowd sourcing.

• 400 People donated from 45 cities across the world.

•Facebook and Twitter played very significant role in spreading the message.

Unique design, sign, symbol, words, or a combination of these, employed in creating an image that identifies a product and differentiates it from its competitors. Over time, this image becomes associated with a level of credibility, quality, and satisfaction in the consumer's mind. Thus brands help harried consumers in crowded and complex marketplace, by standing for certain benefits and value. Legal name for a brand is trademark and, when it identifies or represents a firm, it is called a brand name.

What is a Brand?

How many of these brands can you identify?

With widespread use of computers, cell phones and social networks, Net Geners worldwide are driving the amplification of consumer conversation.Once upon a time, brand monitoring was a niche activity, often undertaken by PR agencies keen to make sure that a rant by a disgruntled customer on an obscure blog didn’t end up on the front pages of the national press. As the level of conversation has increased so has its significance and usefulness to brands and to a wider range of departments.

What is Brand Monitoring and Conversation Tracking?

Customer Service teams can listen out for customer issues online and then and there resolve them.

Competitor Intelligence departments can find out what customers are saying about competitors’ products.

PR Managers can get early warning of pending PR disasters before they hit main-stream media.

Most of all, by listening first, companies can be better prepared to join online conversations and become social. Instead of revealing what were typically the extremes of opinion of a small but vocal minority, social media monitoring now brings observational research to a mass audience.

How does Brand Monitoring and Conversation Tracking

help ?

Turning brand related conversations into insights

Understand brand conversations and segmenting the conversations into different categories and actions.

Understanding the new platforms and technologies behind conversation tracking.

Beyond brand conversation and integration with other marketing channels.

Purpose of Brand Monitoring and Conversation Tracking.

To Win the Brand must embed the customer in the organization that it represents.

“one neglected spark can grow to blazing fire”. One consumer voice can morph into a community in minutes (both in positive and negative ways).

What does this means for the brand?

And what if it does not do that?

“Dell Hell” resulted because of the bad experience one blogger, Jeff Jarvis, had with Dell Computers. In true blogger style he documented his experience on his blog and word quickly spread to the point where it was even covered in print by Business Week. Dell, however, failed to respond to his musings and the bad customer experiences continued as did the negative comments on the blogosphere.

What ensued was literally hell for the company and a recent scientific study by responsesource.com showed that Dell has sustained long-term damage to its brand image and that the cheerleaders for the poor reputation of Dell’s customer services are bloggers.

Kryptonite Locks were punished in waves. It all started when a cyclist learned he could open his Kryptonite bike lock with a pen instead of the provided key. So he posted his findings on a forum and after the first week more than 340,000 readers had visited the forum thread. Videos of how to do it were even posted which quickly became viral. To cut a long story short Kryptonite offered to replace all the locks and lost a huge amount of revenue after the blogosphere debacle, but just doing this did not solve their problems. The problem here was that Kryptonite only responded to the widespread criticism once the story had hit offline media 10 days later – a bit late!

Woes of Kryptonite Locks

Ching’s Secret: A Brand that realized the power of internet.Ask Ajaay Gupta, CEO and managing director, Capital Foods, which sells the Ching’s Secret brand of Chinese ingredients. “A regular consumer from the US pinged us on our Facebook, mentioning that the product was not available in a particular store. Ten minutes later, we had contacted her. Within two hours, the sales head had alerted the distributor in California, who delivered the product to her house,” relates Gupta. Such is the power of the internet.

But companies who are Proactive and act with Speed wins!

1. Reporting of the data collected in proper reports:

Brand overview analysis: Get a total overview of the conversation surrounding your brand online. See how many posts there are, the sentiment of those posts, your brand’s share of the conversation, trends, and much more, all in one quick overview.

What are the deliverables expected from us?

Sentiment Analysis: Analyze the sentiment surrounding your brand for a view into online market perceptions. Sentiment analysis explores general brand sentiment, and how sentiment changes over time.

Influence Analysis: The Brand Overview report can identify influential people in your brand’s industry. Who’s talking about your products online that you might want to reach out to and establish a relationship with?

Competitive Analysis: See how the conversation around your brand stacks up against your competitions’. Analyze the conversations about a competitor’s new product release, or study their customer service engagement. Get competitive insights and learn how your company can fill your customers’ unmet needs.

Engagement Analysis: Gauge your organization’s level of engagement in online conversations, and assess how groups such as Customer Support, Community Management and Sales are interacting with your community.

2. Proactive advices on best practices

Be social to tackle it socially: If you aren’t an active member of the online community it tends to be a little harder to recover from an online attack - learn from the Kryptonite lesson and get involved immediately (preferably before something like this even happens).

If your company doesn’t have a blog, start one. Participate in industry forums and chat rooms. Build genuine credibility as a member of these conversations and you’ll find that firstly, the likelihood of a brand attack will decrease because people will have more respect from you (generally the more distanced a brand gets from its customers, the more they start to despise it). Secondly if you are attacked again, you will (hopefully if you’ve done your job right) have a community of allies and evangelists who will support your brand and its efforts to clear its name.

3. Policies, consultancy and latest trends

It is an evolving field and still a lot to be explored. We need to keep on updating the client with possible policies for online brand management. Also the objective is to provide consultancy and advices based on best practices and our understanding of the situation.

Let’s take an example. What do you do when you get a negative comment? Do you respond to each of them? Do you ignore them completely? Or you do not respond and take passive actions on the comments? There is no right or wrong answer for these. However we need to still set a standard which we can adhere to.

“If you wanted someone to write you press releases you could hire a monkey with a cocktail dress and a little black book. We write press releases sometimes. Let's be honest, it's a good way to get free publicity. But it's not the only way. It's not 1984 anymore. It's not 1994 anymore. It's not even 2004 anymore. The game has changed. You need to start thinking like it's 2014.

Your customers don't just want you to engage with them. They EXPECT it. Your stakeholders still want to read nice stories about you in the newspaper of course. And you might get a few website hits if you can get on the 7PM project. But the age of telling and selling is over. People want a relationship with you. They want to have a conversation with your organisation. If you don't start treating your customers the same way you'd treat your friends they'll go and do business with someone who does. You don't have to invite them all to dinner, but if they talk to you, you need to talk back.”

Source: http://www.memery.com.au/about.html

It starts with Listening. Conversations are happening across the web; we will try and collect the information from as many portals as possible using various tools.

Then the conversations will be divided into different categories and analyzed further for useful insights. Based on the analysis it is passed to the right team which is then acted upon.

What Process do we follow?

Steps ActionsStrategy Finding right brand keywords,

competitor keywords and industry keywords.

Accumulate data Gathering the conversations across different platforms using different tools.

Analyze data Data Analysis and Interpretation with the help of different tools, dashboard and analytical skills.

Arrange data Arranging data and preparing different reports.

Actions Suggesting plan of action to take care of the issues.

Analyzing consumer conversation needs focused approach

“Consumers are in the midst of a conversation that isn’t ours. The race is onto grow ears to learn what they are saying.” John Hayes, CMO, American Express

Future is whispered, listen to it: The difference between seeing the present and the future is the difference between hearing shouts and whispers. Consumers shout about the present. Crises and major product successes or failures are marked by sudden large increases in the volume of the conversation. The future is whispered. Andy Grove, former Intel CEO and Chairman , explains in Only the Paranoid Survive.

Awareness Attention Viral potentiality – How viral is the

conversation Reach – How loud is the conversation Sentiments (Positive, neutral and negative) Who is talking about the brand

(Understanding social connectors, Mavens and Salesmen for the brand)

Different Geo locations

What all will be measured?

Different context Time of a day Events and its buzz measurement Owning different web portals names like

twitter, squidoo, digg etc. (and notifying any negative use of it), if we won’t own it someone else will and may use it against us.

Advice on making relationship some of the most common forums and blogs where the conversations are happening.

Strength of Referrals/Recommendations

Fan, followers, subscribers and potential reach

Shared view point (Share count): What is getting shared and what is not.

Share of conversation (Not just the buzz about you but how present and recognized are you in these conversations.

And ...................

A Big Thank You for listening to me

patiently!!!