[Slides] Leveraging Social Identity, by Altimeter Group
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In this one-hour webinar, analysts Andrew Jones and Charlene Li share how insights can be gleaned from social media to: 1) Identify and better understand prospects and customers throughout the customer lifecycle, and 2) Deliver targeted, personalized messages and experiences to them across channels. Watch the webinar on-demand at: https://www.slideshare.net/Altimeter/webinar-leveraging-social-identity-by-altimeter-group and download the full research report at: http://www.altimetergroup.com/leveraging-social-identity.
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[Slides] Leveraging Social Identity, by Altimeter Group
- 1. Leveraging Social Identity July 10, 2014 Andrew Jones, Analyst Charlene Li, Founder and Analyst
- 2. Table of Contents 1. Why does this matter? 2. Social Identity a. Definition b. Use cases c. Examples 3. Getting Started
- 3. This was once the scale of a customer relationship
- 4. Today it’s not so easy. How do we build one-to-one relationships at scale?
- 5. The Dynamic Customer Journey
- 6. The Dynamic Customer Journey
- 7. The Dynamic Customer Journey
- 8. Marketing Sales Customer Service Innovation The Dynamic Customer Journey Loyalty
- 9. The Dynamic Customer Journey Marketing Sales Customer Service InnovationLoyalty
- 10. The Dynamic Customer Journey Awareness Consideration Intent Purchase Support Loyalty Advocacy Marketing Sales Customer Service InnovationLoyalty
- 11. Customer identity is unresolved “One of the biggest gaps is, how do we know Bob Smith on Twitter and in CRM are the same?” - Kim Matlock, Senior Director of Digital Marketing and CRM, Hard Rock
- 12. Ads lack context “A friend of mine gets Christian Mingle ads, even though he’s Jewish and married. That shouldn’t happen. His religion and marital status are available on Facebook.” -Bill Piwonka, former VP Marketing Janrain
- 13. Social Identity – definition The information about an individual available in social media, including: 1. Profile data 2. Ongoing social activity
- 14. Modern Marketing requires us to know customers in order to engage them with relevant messages and experiences
- 15. Customer data and behaviors have evolved, but so have marketers’ options
- 16. Social profiles contain demographics, contact, friends, interests, skills, and more
- 17. Ongoing activity includes life events, music listens, games played, places visited… …Follows, Shares, Mentions, Retweets, Views, etc.
- 18. Social Identity Provides Multiple Benefits
- 19. Leverage Influencers Identify Prospects Reach Custom Audiences Find Lookalike Audiences Nurture Leads
- 20. Personalize Products Gain Real-time Insight Retain and Reactivate Reward Loyalty Tap Advocates
- 21. Liberty Mutual agents track events that can help build relationships or make sales
- 22. VinTank helps wineries connect with customers and prospects using check-ins & nearby posts
- 23. Purina won my affection with my own dog
- 24. Some tools allow users to create rules to identify new opportunities Oracle SRM, which integrates directly with Eloqua
- 25. Some vendors not only help find leads, but score and nurture them NextPrinciples integrates with CRM to track traditional leads in social too
- 26. Facebook’s Custom or Twitter’s Tailored Audiences enable (re)targeting of existing contacts Image source: http://www.stream20.com/social-direct-response-knowing-your-roi-from-your-elbow/
- 27. Facebook’s Lookalike audiences is similar but finds new audiences with similar attributes Image source: http://www.insidefacebook.com/2014/05/27/5-effective-facebook-ad-tools-for-small-businesses/
- 28. NFL.com personalizes website and emails using social profile data from social login
- 29. Sales and support reps can benefit from greater context about individual interactions with tools like Salesforce’s Social Key Image source: http://blog.salesloft.com/what-is-social-key
- 30. AmEx delivers deals, content & experiences based on Facebook likes and interests “Link, Like, Love”
- 31. Capturing & Integrating Social Identity ∙ Vendors leverage Social Identity to provide value in many different ways ∙ There’s value in integrating Social Identity for use across channel and departments
- 32. Capturing Social Identity 1. Direct Association a. Email search b Paid matching 2. Social Profiles a. Contests, etc. b. Social login 3. Social Signals a. Explicit actions b. Text analysis 4. Inference Aggregate analysis
- 33. SEM Website content Ads: display, retargeting, affiliate Email SMS Integrating Social Identity enables personalization across channels • Profile • Friends • Reviews • Comments • Location • Shares • Views • Likes
- 34. Personalization promotes better relationships “Research shows that personalization can deliver five to eight times the ROI on marketing spend, and lift sales 10% or more.” - McKinsey, HBR “When asked to prioritize one capability that will be most important to their company’s marketing moving forward, personalization ranked highest.” - Adobe
- 35. Interscope Records uses Social Identity to understand customer interests and send more relevant emails
- 36. Interscope Records uses Social Identity to understand customer interests and send more relevant emails 1. Match social profiles to email through social login
- 37. Interscope Records uses Social Identity to understand customer interests and send more relevant emails 1. Match social profiles to email through social login 2. Capture social signals • Facebook Likes • Twitter Follows • Spotify Listens • Youtube Views
- 38. Interscope Records uses Social Identity to understand customer interests and send more relevant emails 1. Match social profiles to email through social login Social scores Append to email database 2. Capture social signals • Facebook Likes • Twitter Follows • Spotify Listens • Youtube Views
- 39. Non-Targeted Email Unique Open Rate: • “Batch & Blast” • Content Heavy, 20+ Promoted Items UMG’s Interscope Records customer email 7%
- 40. Targeted Twitter Followers of • Will.i.am • Britney Spears • Lil Wayne • Diddy Interscope sees lift in open rates by targeting with social scores Semi-targeted Email Unique Open Rate:
- 41. Targeted Twitter Followers of • Will.i.am • Britney Spears • Lil Wayne • Diddy Interscope sees lift in open rates by targeting with social scores Semi-targeted Email Unique Open Rate: 16%
- 42. Targeted by: • “The XX” Social Scores* • Great Gatsby Social Scores Combining social scores for even greater relevance, open rates increase 10x Targeted Email Unique Open Rate: *Note: for those unfamiliar, “The XX” is a band
- 43. Targeted by: • “The XX” Social Scores* • Great Gatsby Social Scores Combining social scores for even greater relevance, open rates increase 10x Targeted Email Unique Open Rate: *Note: for those unfamiliar, “The XX” is a band 66.7%
- 44. Getting Started • Start with your challenges and objectives—what is the best approach and will you need help from a vendor? • Do you have existing Social Identity data? Where is it, and how is it used? • Do you have the right data? If not, would you need outside help in finding or collecting it? • Is or will the data be integrated? How? • Privacy: is there permission, trust, and transparency? • What does relevance look like to your customers? Will investment be worth it?
- 45. Trust: “Can we” vs. “Should we”
- 46. Relevance & Diminishing Returns “We talk a lot about 1:1 marketing, but there’s a law of diminishing returns. What is relevant? How unique do we need to be for an individual vs. a persona or segment?” - Hayden Mugford, Director, Global 1:1 Marketing
- 47. We don’t need to know everything, but wouldn’t it be nice if customer relationships felt a little more like this again?
- 48. Thank You Charlene Li charlene@altimetergroup.com @charleneli Disclaimer: Although the information and data used in this report have been produced and processed from sources believed to be reliable, no warranty expressed or implied is made regarding the completeness, accuracy, adequacy or use of the information. The authors and contributors of the information and data shall have no liability for errors or omissions contained herein or for interpretations thereof. Reference herein to any specific product or vendor by trade name, trademark or otherwise does not constitute or imply its endorsement, recommendation or favoring by the authors or contributors and shall not be used for advertising or product endorsement purposes. The opinions expressed herein are subject to change without notice. For Slides, send an email to slides@altimetergroup.com Altimeter Group provides research and advisory for companies challenged by business disruptions, enabling them to pursue new opportunities and business models. Andrew Jones andrew@altimetergroup.com @andrewjns
Editor's Notes
- It spans different Channels
- Devices
- Business units
- Individuals interact with various Media Types
- And consumers are constantly at different stages throughout the sales cycle When you start multiplying the permutations of where a customer is at a given time, there are thousands of possibilities.
- It’s what defines us as individuals in social media – which is quite a large part of our online identity. And because more and more marketing is digital, marketers can’t ignore Social Identity as a means to make customer messaging and experiences more relevant.
- Marketers today are using data to deliver the right message, at the right time, in the right channel. That degree of relevance and personalization starts with knowing prospects and customers better.
- As Charlene said, the scale and complexity is challenging, but it’s an opportunity. With such a big digital footprint, we can know customers better than ever. Social isn’t everything, but it’s an increasingly bigger part of digital identity.
- This is all explicit information Also significant implicit information in other posts. If I post about Germany beating Brazil, it’s implied I like soccer and I’m watching World Cup.
- We’ve been talking somewhat abstractly about knowing and engaging customers, but let’s break out some of the tangible benefits.
- Leverage influencers who can share your message or product information. Identify prospects Use custom audiences to reach target specific groups with different social ads Reach new audiences similar to existing ones – for example, if you have a group of VIPs that spend a lot of money with you, Facebook will let you target other users with similar attributes. Nurture leads more effectively, by segmenting customers better for email campaigns, increasing open rates and click-throughs Display more relevant products or content on your website, to again increase click-throughs, as well as increase the number of people filling out contact forms. One company is actually personalizing the physical products it sends to people based on Social Identity.
- Semantic analysis helps identify opportunities – in this case, a complaint about a competitor Here, the prospect can be sent a link to the website with more information. Not only can the social ID be tagged as a prospect, but if that visitor fills out the form, then they can be put into an email campaign.
- NextPrinciples
- NFL.com uses social login and a traditional form to capture user names, birthdays, and favorite NFL team. Using that information, they personalize the website experience and the emails they send
- “American Express delivers deals, content and experiences based on their Facebook likes and interests, as well as the likes and interests of their friends.” Cardmembers can choose the deals they want and then use their card as they usually do. American Express will send statement credits to their card accounts – no coupons, no print-outs. For example, if a cardmember "likes" Whole Foods Market on Facebook or has "checked in" on Facebook Places, she may see a Whole Foods Market deal in her dashboard. If her friend has the Fox television show "Glee" as one of her interests on Facebook, she may see an exclusive experience for Glee the 3D Concert Movie on her dashboard. Cardmembers can share deals with friends, choose the deals they want and then use their card as they usually do to claim the offer.
- Direct association doesn’t give permission
- Social business is maturing at large brands and more departments have gotten involved. Yet the customer data from customer interactions is rarely being applied to improve engagement in other channels.
- In addressing new customer expectations, companies recognize that their messaging and experiences need to be personalized. In our own research, we found that personalization can drastically impact metrics like open rates, clicks, downloads, time on site and conversions. This is no surprise – the question is, how do you best do it?
- Universal Music Group’s Interscope Records has a great example of how to use the right data to better target and personalize messaging.
- First, UMG gets social profiles with social login Profile: age, gender, location, etc.
- Ongoing signals: likes, shares, follows, mentions, etc. Signals: real-time interests and needs
- First, UMG gets social profiles with social login Profile: age, gender, location, etc. Ongoing signals: likes, shares, follows, mentions, etc. Signals: real-time interests and needs