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Social Listening for US Brands—Deriving Actionable Insights from Conversations

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Social Listening for US Brands—Deriving Actionable Insights from Conversations

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Using social data isn’t a new concept for brands, but there's still confusion on how to put the information to use. Topics in this webinar include: Why brands are conflicted about social listening’s usefulness and the challenges they face; Nine use cases for social listening, with specific brand examples; An overview of the technology and the future of social analytics.

Using social data isn’t a new concept for brands, but there's still confusion on how to put the information to use. Topics in this webinar include: Why brands are conflicted about social listening’s usefulness and the challenges they face; Nine use cases for social listening, with specific brand examples; An overview of the technology and the future of social analytics.

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Social Listening for US Brands—Deriving Actionable Insights from Conversations

  1. 1. © 2016 eMarketer Inc. Social Listening for US Brands: Deriving Actionable Insights from Conversations Jillian Ryan Analyst March 24, 2016 Made possible by
  2. 2. © 2016 eMarketer Inc. What Is Social Listening?
  3. 3. © 2016 eMarketer Inc. Listening is part of the larger social conversation  Social media exchanges are part of a dialogue—a “push” and a “pull”  Brands are comfortable and familiar with the push mechanism: marketing  The pull element, listening, can add value through insights extracted from social conversations
  4. 4. © 2016 eMarketer Inc. Monitoring owned social channels  Social monitoring is passive  Brands track conversations that directly reference a brand, either with a tag or on owned channels
  5. 5. © 2016 eMarketer Inc. Inbound social interactions are plentiful  Brands see a higher ratio of interactions on Instagram and Pinterest  Brands see minimal engagement ratios on Twitter
  6. 6. © 2016 eMarketer Inc. Listening broadens the umbrella  Unlike monitoring, social listening requires intent  Brands must expand beyond owned properties and seek out relevant social conversations Image Source: http://www.twigsdesigngroup.com/
  7. 7. © 2016 eMarketer Inc. The experts define social listening: “Social listening is looking for conversations happening outside of owned channels. You can mine all of that data on social networks and blogs for actionable insights and information.” —James Cooper, Director, Social Intelligence, ICUC “Social listening offers a comprehensive view of interactions outside what brands see by monitoring to find conversations beyond the brand and uncover what the world thinks broadly about your products, industry and competitors.” —Chelsea Marti, Director, Strategy and Services, Sprinklr
  8. 8. © 2016 eMarketer Inc. Is Anybody Listening?
  9. 9. © 2016 eMarketer Inc. Two 2015 surveys indicated that half of marketers used social listening 49% used social insights to make informed decisions (Source: Altimeter Group, Q2 2015) 49% used social listening to understand customers, prospects and markets (Source: CMO Council, Q4 2015)
  10. 10. © 2016 eMarketer Inc. Brands have doubts about social listening’s effectiveness
  11. 11. © 2016 eMarketer Inc. Across seven industries, CEOs worldwide say social listening fails to generate the greatest stakeholder return
  12. 12. © 2016 eMarketer Inc. Brands are also unsure how actionable social data is
  13. 13. © 2016 eMarketer Inc. Social listening data becomes actionable when it answers a specific question “Instead of saying, ‘Tell me everything every time the word X appears on any social networks,’ companies who employ social listening need to be more micro in their ask.” —Erik Huddleston, CEO, TrendKite
  14. 14. © 2016 eMarketer Inc. Even with this, social listening challenges remain
  15. 15. © 2016 eMarketer Inc. Sifting through the noise of conversations and operationalizing the data are also key struggles “Brands can easily be overwhelmed by the volume of conversations on social media. How do you start to even decipher and prioritize and decide what actually is influential and make decisions?” —Andrew Caravella, VP, Marketing, Sprout Social
  16. 16. © 2016 eMarketer Inc. 9 Use Cases for Social Listening
  17. 17. © 2016 eMarketer Inc. 1. Optimizing Social Messaging and Advertising
  18. 18. © 2016 eMarketer Inc. Using social data in marketing
  19. 19. © 2016 eMarketer Inc. Listening can help optimize marketing messages “You can’t perform good marketing if you don’t know your customers, if you don’t listen to how they react to all of your marketing. And the way that you connect the dots really depends on the maturity of the brand. The aim should be to use social data in real time to adjust marketing investments.” —Loic Moisand, CEO, Synthesio
  20. 20. © 2016 eMarketer Inc. MasterCard optimizes messaging through social listening “It was beneficial to understand how our messages were being received and listen to how refinements performed better. Based on the information we were hearing online, we had a more positive product launch.” —Marcy Cohen, VP, Digital Communications, MasterCard
  21. 21. © 2016 eMarketer Inc. 2. Real-Time Marketing
  22. 22. © 2016 eMarketer Inc. The real-time reality of social media: 58% of US marketers responded to timely trends, news and events on social media. (Source: Wayin, June 2015) 49% of US marketers believed real-time responses should occur within minutes; 26% said seconds. US marketers used real-time marketing tactics to form customer relationships (56%), promote events (55%) and increase engagement and reach (49%).
  23. 23. © 2016 eMarketer Inc. Allstate uses social listening in real time “We’re always listening for important ‘first moments’ that Allstate can celebrate with our social community. We’ll analyze the conversations and use real-time marketing to join in the broader cultural moments while they’re happening.” —Lizzie Schreier, Director, Digital Engagement, Allstate
  24. 24. © 2016 eMarketer Inc. 3. Enabling Sales via Social Selling
  25. 25. © 2016 eMarketer Inc. Brands can comb conversations to find buying cues “Over the past few years, the notion of social selling has emerged. Brands are using social listening to identify product-applicable purchase signals, like, ‘I want,’ ‘I am going to buy,’ ‘I need to buy,” etc. They are also digging into buyer targeting.” —James Cooper, Director, Social Intelligence, ICUC
  26. 26. © 2016 eMarketer Inc. Social cues are paired with CRM data for more targeted selling “Business-to-business companies are more innovative in the ways they employ it and layer it with third-party data. Their use cases, especially on the sales side, are more interesting and have a deeper business impact level. With B2B it is less about your brand and more about your category or industry.” —Amber Naslund, SVP, Marketing, and Chief Evangelist, Sysomos
  27. 27. © 2016 eMarketer Inc. Century 21 does regional sales enablement through social listening “We’re looking for these consumer triggers by putting social listening’s toolset in the hands of our affiliated real estate sales professionals, who are on the ground transacting the business. Conversations on social can identify sales opportunities.” —Matt Gentile, Director, Social Media, Century 21 [Editor’s Note: Gentile has since become managing director at IMG Digital Group.]
  28. 28. © 2016 eMarketer Inc. 4. Influencer and Advocate Targeting Through Personalization
  29. 29. © 2016 eMarketer Inc. The importance of personalization and social: Half of marketing executives in North America believe that personalized strategies are critical to realizing greater revenue and profitability from customer engagement. (Source: CMO Council, Q4 2015) 39% of marketers worldwide used Facebook ‘likes,’ Twitter follows and other social activity as historical customer data for personalization. (Source: VB Insight, June 2015)
  30. 30. © 2016 eMarketer Inc. Starwood Resorts uses social listening for loyalty program personalization “We use social listening coupled with the robust targeting capabilities that the social media channels have to identity key influencers that are talking about the program and personalize our message to them to grow the voice of SPG 100.” —Keri La Ra, Director, Global Social Media Strategy and Digital Compliance, Starwood Hotels and Resorts Worldwide
  31. 31. © 2016 eMarketer Inc. 5. Customer Service
  32. 32. © 2016 eMarketer Inc. Response time is key for brands …  75% of US internet users use social media to obtain customer service  Nearly 54% expected to receive a response from a company within an hour
  33. 33. © 2016 eMarketer Inc. … but companies aren’t meeting user expectations  Education was the industry with the fastest response time: 8.5 hours  Retail brands were the most responsive overall, replying to 21.7% of customer social interactions
  34. 34. © 2016 eMarketer Inc. Bad social customer service is bad business “There is no return on ignoring customers. In fact, that’s a negative return, so we need social listening to find those conversations. Plus, the cost of service for social customer support is generally much lower than a call center.” —Drew Neisser, Founder and CEO, Renegade LLC
  35. 35. © 2016 eMarketer Inc. Starwood Resorts has a global social listening team scanning the web in 11 languages “A few weeks ago a guest tweeted that he forgot his belt at home. To surprise and engage him, we presented him with a belt at check-in.” —Michael English, SVP, Customer Contact Centers and Electronic Distribution, Starwood Hotels and Resorts Worldwide
  36. 36. © 2016 eMarketer Inc. 6. Crisis and Reputation Management
  37. 37. © 2016 eMarketer Inc. Social listening allows brands to see a mounting crisis before it reaches a tipping point “With social listening there are ways to control and/or influence the origination point.” —Tim Hayden, VP, Marketing, Zignal Labs
  38. 38. © 2016 eMarketer Inc. Southwest Airlines uses social listening as an early alert system “In late 2015, we had a plane in Nashville veer off of the taxiway after a safe landing. Before our operational folks could get a Southwest employee out to assess the situation and damage, our social listening team was able to show them pictures that were coming through customers on social media who were sharing content.” —Ashley Mainz, Social Business Manager, Southwest Airlines
  39. 39. © 2016 eMarketer Inc. 7. The New Focus Group
  40. 40. © 2016 eMarketer Inc. There are many advantages to doing social listening for focus groups “Focus groups are dead. Brands can glean product insights out of social. The unique psychographics from social provides a richer understanding of who your customers are and what they want.” —Erik Huddleston, CEO, TrendKite “Focus groups are time intensive, slow and expensive. With social, you can get all of those insights from a much broader population almost in real time, at a fraction of the cost.” —Brandon Andersen, Director of Marketing, Cision
  41. 41. © 2016 eMarketer Inc. JetBlue Airways listens to amenities sentiment “Social listening insights reaffirm theories that we’ve had about our service amenities, but also challenges and tests other business strategies that might not be working.” —Morgan Johnston, Manager, Corporate Communications, JetBlue Airways
  42. 42. © 2016 eMarketer Inc. 8. Benchmarking Competitors and Industry Trends
  43. 43. © 2016 eMarketer Inc. Benchmarking against competitors is a healthy success measure The bigger the company, the more important to understand what competitors are doing and how users are talking about them
  44. 44. © 2016 eMarketer Inc. Social listening allows brands to uncover what their competitors are doing, how they are being received and what the industry as a whole looks like from the social sector “Profiling conversations about your competitors and their products at a fine-grained level with social listening can help brands benchmark areas where they have made improvements or where they have lost ground in specific areas.” —Mick Conroy, Head of Insights, ICUC London (formerly Tempero)
  45. 45. © 2016 eMarketer Inc. Nissan uses social listening to track sentiment around the auto industry “This provides very clear brand health mapping, so Nissan knows in real time how they are performing.” —Loic Moisand, CEO, Synthesio [Editor’s Note: Nissan is a Synthesio client.]
  46. 46. © 2016 eMarketer Inc. 9. Guiding Rebranding
  47. 47. © 2016 eMarketer Inc. Social media is a testing ground for rebrands “Through listening, companies can understand what people are saying about a rebrand as it happens, and then adjust any message. Brands can also measure the impact and the noise around a rebrand.” —Matt Cordaro, Director, Customer Success, Hootsuite
  48. 48. © 2016 eMarketer Inc. 3M Tracks reception of newly launched brand identity “From listening, we’re seeing from social conversation based on public social data that since the rebranding, 3M is actually perceived as more science-driven, consistent and disruptive. Our new branding reflects how people perceive 3M.” —Amy Lamparske, Head of Global Social Media, 3M
  49. 49. © 2016 eMarketer Inc. The Technology Behind Social Listening: Today and Tomorrow
  50. 50. © 2016 eMarketer Inc. Technology is the backbone of a social listening strategy  Platforms are based on text analytics with a crawler capability that brings in data and identifies instances of those keywords  Traditionally, this is done through data science layers on top of APIs and custom-built algorithms
  51. 51. © 2016 eMarketer Inc. Finding the right tool is a big challenge for brands
  52. 52. © 2016 eMarketer Inc. Technology hurdles remain  Sentiment inaccuracies  The human element vs. automation  Walled gardens
  53. 53. © 2016 eMarketer Inc. Plans to invest more in social listening are on the horizon for many brands
  54. 54. © 2016 eMarketer Inc. Retailers are a specific business category planning to implement social listening technology in the future
  55. 55. © 2016 eMarketer Inc. Future innovations in social listening technology “Increasingly, people are posting visual content, and text-based signals such as tags, descriptions, captions and so on won’t help a brand recognize logos and images. So much visually rich content is being missed.” —James Cooper, Director, Social Intelligence, ICUC “The biggest thing in 2016 is the emergence of machine learning and deep learning techniques. Social listening is really going to start to benefit from those capabilities.” —Mick Conroy, Head of Insights, ICUC
  56. 56. © 2016 eMarketer Inc. Social Listening Trends: A Review  There remains confusion about social listening’s value and definition  Brands must have intent, with a clear question they want to answer before they can seek relevant conversations  Use cases are varied, but with the right filters in place, brands can improve their marketing and learn from customer feedback  The technology behind social listening is the backbone of any strategy  The future holds more adoption and advances in machine learning
  57. 57. Making Sense Of It All Gain a deeper understanding of customers and prospects to drive more targeted, efficient interactions. Monetizing Dynamic Interaction Execute impactful, social-engagement strategies that lead directly to bottom-line results. Responsive Engagement Monitor social channels and discover the moments that influence their decisions to engage relevantly in real time. The Challenges We See Understanding You Today our customers are constantly faced with new challenges and business needs where turning insights into action has become more important than ever before.
  58. 58. Who is Sysomos? Sysomos is the world’s largest independent social media intelligence platform. We help over 1,400 companies - including 80% of the world’s most valuable brands and 90% of the Global Top 250 PR Firms – understand and interact on the social web and use real-time social data to build better and smarter businesses.
  59. 59. What Makes Sysomos Different? Social technology solutions are not all the same. Sysomos isn’t just a listening tool. It’s a strategic set of applications that supports the full spectrum of advanced social analytics & management needs. Our Data Scientists and Ph.D.’s are at the center of our product developments and our desire to move our industry from descriptive to predictive analytics. Processing vast quantities of unstructured data and providing it to you in a digestible way is one of our defining traits, and rivals some of the largest tech and big data companies in the world. Sysomos is a precision platform of strategically assembled applications for social research, analytics, and management - not a catch-all marketing suite. Sysomos is built on one of the most advanced infrastructure designs, including 3-tier data architecture and the use of leading virtualization technologies for delivery of lightning-fast results. We’ll never leave you on your own. Our Social Media Specialists are our hands-on experts and an incredibly valuable resource for you.
  60. 60. • Delivers better together user experience by bringing together MAP, Heartbeat, Optimize & Influence • Single sign-on across all SET products, enhancing ease of use and productivity • Unified interface for all SET products • Powerful integration across the products with ability to share data sets (Twitter ID lists) Find out more at sysomos.com/products/set Integrated Social Platform
  61. 61. In March 2016, Sysomos was awarded Frost & Sullivan’s Product Line Strategy Leadership Award for excellence and innovation in advanced analytics Find out more at: sysomos.com/emarketer Don’t Just Take Our Word For It
  62. 62. © 2016 eMarketer Inc. Learn more about digital marketing with an eMarketer corporate subscription Around 200 eMarketer reports are published each year. Here are some recent reports you may be interested in: Q&A Session You will receive an email tomorrow with a link to view the deck and webinar recording. To learn more: www.emarketer.com/products 800-405-0844 or webinars@emarketer.com Jillian Ryan Social Listening for US Brands: Deriving Actionable Insights from Conversations  Influencer Marketing for US Brands: The Platforms to Watch, and the Best Ways to Work with Creators  US Social Trends for 2016: eMarketer Predictions for Video, Viewability, Buy Buttons, Messaging and More  Worldwide Social Network Users: eMarketer’s Updated Estimates for 2015  The Evolution of Real-Time Marketing: What Marketers Are Thinking—and Doing—Now Made possible by

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