Closing the gap: The disconnect between marketing technology and business value

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© 2015 Brandwatch.com

Webinar/Closing the Gap: The Disconnect between Marketing Technology & Business Value

CMO, Brandwatch

[email protected] | @willmcinnes

Will McInnesVP & Principal Analyst, Forrester Research

[email protected]| @nate_elliott

Guest speaker: Nate Elliott

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© 2015 Brandwatch.com2

Don’t be shy/We’d love your participation

• Ask questions in the session chat

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A download and recording of the webinar will be made available after the event

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Coming Up

• The Challenges of Social Media

• Why Point Solutions Outperform Social Suites

• Enterprise Social Intelligence

• 5 Ways to ‘Close the Gap’

• Q & A

Buy Social Point Solutions, Not Social SuitesNate Elliott, Vice President and Principal Analyst

August 4th, 2015

© 2015 Forrester Research, Inc. Reproduction Prohibited 5

Today’s Agenda

›The challenges of social media

›Why point solutions outperform social suites


Today’s Agenda




Social is now table stakes for most marketers


US marketers will spend $9.7b on social in 2015


And yet marketers can’t prove to their bosses that social delivers business value


Marketers’ social challenges range from measurement to content to finding the right partners

› It doesn’t help that we’re willing to accept nearly any social metric

Measurement has been social marketers’ top challenge for more than a decade


It doesn’t help that we’re willing to accept nearly any social metric

› It doesn’t help that we’re willing to accept nearly any social metric

› Smart marketers are looking beyond engagement metrics

• No one’s ever shown a correlation to business value

• Even Facebook now says engagement “is not a reliable indicator”

› Find metrics you use to measure search, email, and other channels

• Clicks

• Site traffic

• Leads

• Sales

Measurement has been social marketers’ top challenge for more than a decade

› Let’s map the content we produce to where people are in their journey

› When they’re first discovering, offer content that shows your product can solve their problems

Find the right social content by focusing on the customer life cycle


Word of mouth and social ads drive discovery


Fashion brand Kocca used WOM to show off its new items, and increased site visits by more than 900%



› When they’re exploring your products, offer detailed content about your offering (and show them what other customers think)



Social content on brand sites supports exploration


B2B security vendor Webroot put customer testimonials on its product pages an increased leads by 3.4x



› When they’re exploring your products, offer detailed content about your offering (and show them what other customers think)

› When they’re engaging after purchase, offer content that tells them how to get more value from their purchases



Customer communities and social profiles drive post-purchase engagement


Barclaycard’s customer community got tens of thousands more people using its cards to book travel


Today’s Agenda




Social technology vendors stand ready to help marketers with (almost) every part of social marketing


Base: 56 MarketersSource: Q1 2014 Social Marketing Online Survey

Many social marketers aren’t thrilled with their vendors

That’s one reason marketers are enthralled by the promise of social suites

› Even the best social suites force marketers to use substandard tools

But social suites offer more problems than solutions

But even the best social suites force marketers to use substandard tools

› Even the best social suites force marketers to use substandard tools

› Integrated social suites remain an empty promise

• Vendors’ integration plans rarely succeed

• Social tools don’t benefit from deep integration anyway

But social suites offer more problems than solutions

That’s why clients of social suites are much less satisfied with their vendors than clients of point solutions

Thank you

forrester.com

Nate [email protected]

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Review:The Challenges

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So . . . we have two problems

1. Poor ROI for ‘social marketing’

2. Suites less satisfying than point solutions

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What’s next?

Enterprise Social Intelligence

Enterprise Listening

Social Analytics

Social Data

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Enterprise Social Intelligence delivers. . .

1. Clearer, more credible ROI by blending social with non-social data2. Gives insight into broad marketing & business value - beyond

‘social marketing’ 3. Overcomes suites vs. point challenge through integration and

distribution

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Components of Enterprise Social Intelligence

PEOPLECONVERSATIONS

PLACES IMAGES

Listening and analyzing conversations based on keywords and content

Discovering and understanding custom audiences and segments to better understand the “who” for better targeting

Using location data to unlock the power of “where”, understand purchasing behaviors and global audiences

Integrating images & video to understand the full impact of your footprint

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Getting practical.

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5 ways to ‘Close the Gap’

1. Who2. What3. Where4. Why5. How

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1. Who - who can we deliver insights and value to in the organization?

2. What3. Where4. Why5. How

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Do an organizational audit

Simply ask:• Which functions could benefit from the social intelligence you have?

This is really about putting the Enterprise into Enterprise Social Intelligence!

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1. Thinking about the organization

Social Listening

Management

Advanced Analysis

Distribution

Dept.Dept. Dept.

Dept.

Use Case

Use Case

Use Case

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1. Thinking about the Use Cases

Product Development

Operations &

Distribution

Sales &

Marketing

Customer

Service

Business

Support

Customer insightsConsumer insights Product feedbackCompetitor intel

Demand forecastingSupply chain monitoring

Location scouting

Consumer insightsMarketing campaigns

Reputation managementSocial selling

Social customer careCustomer experience

Training issuesProduct feedback

Realtime alerts

Recruitment Employee compliance

Security & Risk managementFraud detection

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1. Who2. What - what can we enrich social data with

to create much more valuable insights?3. Where4. Why5. How

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2. WhatMarketing & Advertising

● Web analytics● Advertising data● CRM (first-party customer

data)● POS data● Third-party demographic data● TV schedules & ratings ● Advertising weight ● Bid price ● Press Release activity ● Search trends ● Search spend

Broader business

● Loyalty card data● POS data● Weather● News events● Stock price ● Geolocation from mobile devices● Internet of things data● Vehicle and other asset data● Public and Govt data● Use your imagination!

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Find it, blend it, win it.

So find the data – ask around, ask your client or stakeholders, the IT/IS function or Data teams and speak with marketing technologists and agencies.

Ask:

• Which functions hold valuable data that we can fuse with social intelligence to create deeper, more valuable insights? (1:1 interviews are a great way to do this)

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1. Who2. What3. Where - where can these insights be

blended, accessed and distributed to?4. Why5. How

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3. Where?

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3. Where?

In the end, every marketing stack is tailored – and will often combine suites with point solutions.

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3. Where?

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3. Where?

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3. Where?

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3. Where?

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1. Who2. What3. Where4. Why - what does success look like? What’s

the pot of gold at the end of the rainbow?5. How

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psGoal:

Understand which brands and items their existing customers were talking about publicly and use that insight to sell more by being smarter.

How:

Acquired social media mentions for the key brands that they sell.

Worked with a third party vendor to match social identities to their own CRM database

Then used 1:1 personalization, at scale, to promote very targeted offers to customers through email marketing and ecommerce merchandizing.

Outcome:

Very high ROI on campaigns using this social intelligence-driven approach in digital marketing, advertising, email marketing, social media marketing, ecommerce. (ROI ‘made the leadership’s jaws drop’).

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psGoal:

Increase sales and put a real customer value on social

interactions and investment.

How:

Used Social Intelligence to locate social mentions that mention car model names with ‘test drive’ and Rules, Categories and Tags to automatically filter these conversations by Colour, Model, Brand, Dealer etc.

Then matched CRM details of known customers with social handles in these mentions to explore the potential of social CRM at scale…

Outcomes:

Increase in car sales from test drives

Clear link from social through to lifetime value of customer

Deep, personalized insights into product and CX feedback

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So why? Well imagine what you can do. . .

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1. Who2. What3. Where4. Why5. How

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5. How? (Recap)

• Who - Find the internal clients• What - Find the other data sources• Where - Use APIs and Integrations to integrate your Enterprise Social

Intelligence into your MarTech stack (plenty of buzzwords there…)• Why - Run small practical proofs-of-concept that demonstrate real Return

on Investment that show the ‘why’

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Q & A

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