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Social Media is alive with millions of conversations about companies, brands, products and services across geographies, cultures and demographics. Consumers are increasingly voicing their opinions and influencing purchase decisions as online consumerism gains momentum. Debjani Deb, Managing Partner, shares her perspective on how to listen, learn and benefit from social media. Learn about the importance of tuning into the expanding social network for better insights and smart decision making.
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Location: Vertigo Sky Lounge - Dana Hotel and Spa, Chicago
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Networking and Listening: A Perfect Pairing March 14, 2012, Vertigo Sky Lounge - Dana Hotel & Spa
Presentation – Networking and Listening:
A Perfect Pairing - Debjani Deb, Managing Partner, EmPower
Research
Welcome
- William Childress, Genpact
Bordeaux Wine Tasting and Networking - Vertigo Sky Lounge – Dana Hotel & Spa
AGENDA
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How to Acquire, Retain & Grow Customers
Debjani Deb Managing Partner, EmPower Research, a Genpact company
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PREVALENCE OF SOCIAL MEDIA
S E C T I O N 1
42%
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5 The advent of social media has created a tectonic shift in how
brands evolve in the market place
Sources:
http://visual.ly/new-world-marketing
http://www.facebook.com/note.php?note_id=10150309161387904
http://www.mediabistro.com/alltwitter/digital-marketing-2011_b15395
http://www.briansolis.com/2011/11/how-to-make-cusotmer-service-matter-again/
http://www.business2community.com/social-media/10-rocking-social-media-stats-0122714
34%
of marketers have
generated leads
through Twitter.
20% have
closed deals
56%
of consumers are
likely to
recommend
a brand after
becoming
a Facebook fan
83%
of customers
like when
companies
contact them
in response
to their tweets
61%
of households
use social
networks
of social
media users
have had a
conversation
with a brand
via social
networks
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6
Social media listening isn't only replacing some survey
research but also making it harder to do by changing
consumer behavior and expectations.
Joan Lewis Global Consumer and Market Knowledge Officer
…asking questions and getting answers is going to
become more and more difficult and probably irrelevant
in the next decade. Therefore, passive listening to
come up with insights is going to become
proportionately bigger …
A brand is no longer what we tell the
consumer it is – it is what consumers tell
each other it is.
Scott Cook Co-founder and Chairman
Thanks to the tools of the social web, the
interaction between brands and their consumers
is now a two-way street. And, this engagement
leads to a meaningful dialogue
Stan Sthanunathan VP Marketing Strategy & Insights
Frank Cooper CMO, Sparkling Beverages
The industry leaders are looking to social media for insights
owing to its rich repository of stakeholder opinions
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7 Even B2B companies are increasingly using social media…
Effective for Branding and Awareness 92% 72% 78% 45%
Effective for Connecting with Current and Potential
Customers 80% 89% 61% 45%
Effective for Addressing Services Issues 28% 39% 28% 0%
Effective for Professional Networking 0% 28% 28% 95%
Lessons Learned • It is becoming increasingly important in creating
awareness and demonstrating thought leadership
• Many customers, competitors, and future
employees expect companies to use social media.
• It can help companies shape and respond to (but
not control) opinion.
• It is changing the buying process in some
industries.
• It can play a valuable role in crisis
communications.
• It is a valuable tool but not a panacea.
Source: The Manufacturers Alliance/MAPI Survey 2011
0 10 20 30 40 50 60 70 80 90
100
2009 2010
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8 Many large organizations are acting on the endless
possibilities already
Analyze daily
brand buzz in
15 languages
globally
Understand
patient needs and
their adherence to
drug regimes
Measure online
sentiments to track
reputation
Identify
customer service
alerts and enable
response
Tracks employee
perceptions to
advise institutions
on hiring
strategies
Identify online
influencers to
drive advocacy
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9 Building the Insights Driven Organization: Various functions in
an organization can leverage social media across the “Market-
Engage” lifecycle
Market
Listen
Learn
Engage
Regulatory Bodies
Public Relations
R&D Brand Teams
Market Research
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10 Let’s look at some examples of best practices in the industry
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11 Dell Computers: Providing customer support on Twitter
35% Detractors converted to
promoters
Reach exceeds combined
circulation of Top 12
American newspapers
Source: http://www.forbes.com/sites/ciocentral/2011/09/12/customer-support-in-the-virtual-era-6-lessons-learned-at-dell/
Ford Fiesta: Driving advocacy through influencers
10,000 Units sold within six
days of sales
Information requests from new customers
50,000
Source: http://www.businessweek.com/managing/content/jan2010/ca2010018_445530.htm
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13 Starbucks: Social Media- The new idea bank
Source: http://blogs.starbucks.com/blogs/customer/archive/2011/03/18/happy-anniversary-my-starbucks-idea.aspx
100,000 Ideas contributed by
customers
130 Ideas launched in
three years
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HARNESSING SOCIAL MEDIA
S E C T I O N 2
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15 Both B2C and B2B brands can leverage social media to
acquire, grow and retain customers
The key success factors to enable social media for growth
Actionability Focus on tangible actions instead of reporting and metrics
Relevance Design mechanisms to filter the most relevant conversations
for your business goals
Context Manual interventions to analyze context of conversations
Alerts Alert mechanism to act on negativity before it becomes viral
Language Ability to understand local language nuances for better
understanding of stakeholders
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17 ACQUIRE: Social media alerting as a way of customer
engagement
A leading data storage company uses social media for qualifying prospective opportunities for sales and engagement
Impact
~30 qualified alerts provided every month resulting in strong sales pipeline
Sales alerts Service alerts
EN
AB
LE
AC
TIO
N
Engagement alerts
Influencer Profile
Engagement, Awareness, Context
3.6/5
ACQUIRE: Targeting new customers through community
insights
Global leader in aerated beverages profiles target segment based on behavior, interest and attitudes to identify campaign hooks
Impact
30% increase in target segment engagement resulted in a larger share of wallet
Music
Movies
Sports
Top interests of target segment (Youths)
Communities Inbound Visitors
Community A 119825 7.4M
Community B 11603 391K
41%
41% discussions
were found in top
online
communities
26%
26% expressed
health concerns
from aerated
beverages
19%
19% liked the
product and
recommended to
friends
Key Stats
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19 GROW: Identify and engage with influencers
A Large pharmaceutical company identifies key influencers of a category to engage and drive advocacy
Impact
Monumental increase in positive sentiments after tracking / engaging with the key online influencers
Blog A
Blog B Dr. A
Dr. D
Clinic A
Society 2
Society 1
Forum 1
Point of
Influence
• This map represents inter linkage within the influential
sites i.e. one website being mentioned in the other
• The size of the bubble represents the number of
mentions, the larger the bubble the more is the number
of mentions and hence a stronger connection
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20 GROW: Service improvements in real time
A global leader in airlines uses social media to monitor customer service issues as 30% of customer tweets on service are real-time
Impact
Early alerts helped the airlines enhance its customer experience, and eventually becoming the “Most admired airline”
Flight Crew
Crew and Flight Attendants
attitude criticized with
adjectives like ‘distracted, rude,
bored-look-when-greeting’, not
prompt in taking snack orders
Mile points
Many felt that more miles
points were used up when
flying the airlines
Food
Barring few, food was criticized
by many as being non-creative,
with poor presentation with all
items in one tray.
No snack option between
meals was criticized
Wines seen as down-market
Seating
Seating though improved
not the best, seats did not
recline-flat
Customer Service
Very poor call handling and
information providing – nearly
3 factual errors in one call
centre conversation as noted
by a blogger
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21 RETAIN: Calculating net promoter score in real-time
A Global leader in currency cards uses social media to quantify customer experience and NPS in a real-time environment
Impact
Three areas of
customer experience -
service, security and
respect were identified
as drivers to achieve
corporate vision on
high NPS
30%
48%
26%
58%
33%
59%
Service
Security
Respect
Safe transactions
won customer
confidence
Unhappy about
verification
charges
Premium cards
provided were
admired
Sentiments (%)
Client Competitor
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22 RETAIN: Managing brand reputation using social media
A global leader in confectionary products wanted to identify the impact of negativity / sentiments on overall brand loyalty
Impact
Predictive models to
measure impact of
negativity on loyalists
Loyalist First timers
Switchers
Week 1 Week 2 Week 3 Week 4
Increase in Awareness Sentiment
Negative
Sentiment
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