Do you believe in the power of social media data to drive real world business results? Jason Rose of DataSift, Shree Dandekar of Dell and Darin Wolter of Sysomos answered this question at the PreCommerce Summit with a resounding yes. In their round table discussion, the gentlemen spoke of the power of meaningful measurement, the impact of social media on business and predictions for the future of social media data.
Trends to watch:
- Availability of rich data from communities that have historically been walled gardens (Jason Rose): With the release of Facebook Topic Data on March 10, 2015 (in partnership with DataSift), businesses can now access vast conversation data about industries, brands, products, events, etc., offering a net new source of insights regarding audiences of interest. DataSift’s process protects the anonymity of end users, while allowing business users access to this business-critical information.
Measurement best practices:
- Net Promoter score based on social data (Shree Dandekar): In traditional net promoter methodology, data is collected periodically, so marketers must wait for results. By using social media data as the basis of scoring, net promoter information is available in real time, and agile businesses can use the information to make real time adjustments to marketing. For example, Dell has used net promoter information to adjust product pricing leading to increased sales.
- “Social+” measurement (Darin Wolter): Social measurement has evolved from vanity metrics to health metrics to influence tracking. We now use social data to understand how people are connected and how they influence one another. In combination with business metrics like sales or stock price, social measurement becomes even richer.
- Interpreting sarcasm (Shree Dandekar): Historically, coding for sarcasm has been problematic. Soon, there will be technologies that can solve for this.
- The year of PESO (Darin Wolter): This will be the year of PESO (paid, earned, shared and owned) consolidation. Companies are realizing they can use owned and shared data to inform earned and owned data, and soon this will become standard.
- Connecting CRM and social data (Shree Dandekar): Combining this data helps the sales team better understand how to engage with a customer and helps us build our sales pipeline.
Thanks to our panelists for sharing their points of view. May your data be rich and your insights be mighty.
Bio: Jason Rose has been the Senior Vice President of Marketing at Datasift Inc. since May 2014. Rose joined Datasift from SAP where he led marketing for the world’s leading business intelligence platform. He joined SAP through the acquisition of Business Objects where he led senior roles to consolidate three acquisitions to build the company’s market leading corporate performance management portfolio. He has a depth of marketing experience to reach buyers looking to expand into data integration for other data sources.
Bio: Shree Dandekar has been at Dell for the past 14 years in a number of roles covering software design, product development, enterprise marketing and technology strategy. Currently, he is Director, Business Intelligence and Data Warehousing Strategy responsible for developing and driving the strategy for Dell’s Business Intelligence and Data Warehousing solutions
Bio: Daron Wolter is the Executive Vice President of Sales at Sysomos. In 2004, Darin joined Marketwired as Vice President of Sales for its Western U.S. region. A former sales executive with Thomson Financial, Darin held key national management positions of Thomson’s Outbound Sales Team. Prior to Thomson (now Thomson Reuters), Darin held direct sales management roles at successfully acquired start-ups, StreetFusion and Questlink Technology, in addition to holding key advertising sales positions at Miller Freeman.
For more information on our SXW2O events and our speakers, please visit our website: http://w2oevents.com