The document discusses crafting insightful in-house blends by shifting how social data is approached. It recommends taking a socialnomics approach of hypothesizing relationships between social media behaviors and business outcomes, measuring and validating those relationships, reporting findings, and acting on insights. Examples are provided of hypotheses that could be tested, such as whether increased social interactions correlate with increased online sales or customer service response rates correlate with decreased support costs. The approach is aimed at linking social and business performance to help optimize resources and experiences.
1. CRAFTING INSIGHTFUL
IN-HOUSE BLENDS
Shifting How We Approach Social Data
Chris Greenough
Head of Strategy, Asia
29/05/2015
#SOCIALPERCOLATOR
2. SOCIAL DATA IS KEPT AT ARMS LENGTH
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
2
3. DIGITAL DATA IS KEPT AT ARMS LENGTH
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
4. 4
THE GOAL: INTEGRATED BUSINESS
INTELLIGENCE IN REAL TIME
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
Social Media Web Analytics
Business
Customer Data Revenue Data
12. 12
GOOGLE MAPS THE CUSTOMER JOURNEY BY
ATTRIBUTION TO ONLINE SALES
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
Social Generic Paid
Search
Display Click
Referral
Organic Search
Brand Paid
Search
Email Direct
13. Source: McKinsey&Company, 2012
13
BUT THE CONSUMER JOURNEY IS NOT LINEAR
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
Active Evaluation
Moment
of
Purchase
Loyalty Loop
Post-purchase Experience
Initial
Consideration
Set
Trigger
Information Gathering, Shopping
Ongoing Exposure
14. THE JOURNEY IS NOT LINEAR
AND ATTRIBUTION DOESN’T TELL US “WHY?”
14
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
15. 15
ATTRIBUTION LINKS A CHANNEL TO AN OUTCOME
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
Social
Media
Sale
16. 16
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
CORRELATION SEEKS RELATIONSHIP BETWEEN A
BEHAVIOUR AND AN OUTCOME
Relationship???
Social
Behaviour
Sale
18. Does an increased response
rate lead to decreased call-
center volume and costs?
18
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
Am I a
“Socially Devoted” brand?
Are my fans engaging
with my content?
Does an increase in interactions
affect my sales?
19. MAKE A …………
IN HOW WE MEASURE OUR EFFORTS ON SOCIAL MEDIA
21. The social science that seeks to describe
the factors which determine and affect
the production, distribution and
consumption of goods and services.
SOCIAL MEDIA ECONOMICS
31. Source: Social Bakers & Google Analytics
31
MONTHLY INTERACTIONS & ADD-TO-CART
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
1 2 3 4 5 6
Total Interactions Add To Cart
+ ROI + ROI
32. Source: Social Bakers & Google Analytics
32
INTERACTIONS & ADD-TO-CART BY TIME OF DAY
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
1
Interactions Add To Cart
2 3 4 5 6 7 8 9 10 11 NO
ON
13 14 15 16 17 18 19 20 21 22 23 24
33. Source: Social Bakers & Google Analytics
INTERACTIONS BY TIME OF DAY BY CUSTOMER SEGMENT
1 2 3 4 5 6 7 8 9 10 11 NO
ON
13 14 15 16 17 18 19 20 21 22 23 24
Professionals Teens Moms
34. DEFINE AN OUTCOME AND EXPERIMENT
ESTABLISH A VALUE PER INTERACTION METRIC
LOOK FOR LEVERS TO INCREASE IT
34
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
35. Will investing in better online
customer service result result in an
increase in sales?
If you are in sales, you might ask..
38. Source: Social Bakers & Financial Reports
38
CAN WE PLAN RESOURCES AHEAD OF TIME?
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
2 3 4 5 6 7
Δ Comments Δ ARPU
39. EXAMINE YOUR PRODUCT LAUNCH CYCLES
USE SOCIAL AS SALES PLATFORM
OPTIMISE RESOURCES BASED ON DATA
39
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
40. Since social media is digital, it’s a
cheaper customer service channel
– right?
If you are in operations, you might curiously assume…
41. Source: McKinsey&Company, 2008
41
THE BREAKING POINT
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
Companies can define adequate service
levels by closely managing the customer
experience.
X Y Z
Calls Answered in <X secs:
Customer is delighted, satisfaction
boosted by very short hold times
Calls Answered in >Y secs:
Customer loses patience,
satisfaction begins to drop
Current Customer Service Target:
75% of calls are answered by this time
WillingnesstoRecommendService,
%ofrespondents
43. Source: Social Bakers & Google Analytics
43
INCREASED RESPONSE RATE LEADS TO A DECLINE IN PAGE VIEWS
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
Daily Response Rate
DailyCustomerServicePageViews
60% 100%85% - 95%
-10%
-24%
-7%
-1%
44. YOUR CUSTOMER PREFERS A 1:1 SERVICE EXPERIENCE
MAP OUT YOUR CUSTOMER SERVICE TOUCH POINTS
IDENTIFY THE BREAKING POINT
44
CRAFTING INSIGHTFUL IN-HOUSE BLENDS
45. Can I use social data to improve
my store experience?
If you manage your dealer network, you might ask…
53. LINK SOCIAL PERFORMANCE TO
BUSINESS PERFORMANCE
USE CUSTOMER REVIEWS TO IMPROVE
THE STORE EXPERIENCE
EXPLORE HOW YOU CAN EMBED SOCIAL
INTO YOUR BUSINESS OFFERING
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CRAFTING INSIGHTFUL IN-HOUSE BLENDS