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.
Jason Rose (SVP Marketing – Datasift)
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.
Shree Dandekar (Chief Strategist BI & Analytics – Dell)
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
Darin Wolter (EVP of Global – Sysomos)
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
Jim Weiss and I are are happy to announce that Lionel Menchaca, Dell Inc.’s chief blogger, has joined our global media and engagement team in Austin and senior communications strategist, Annalise Coady, of Fleishman-Hillard (High Road), has joined our global technology practice based in London.
Lionel, one of the first corporate bloggers in the Fortune 500, is re-joining me (Bob) here at W2O Group. In my view, Lionel is the best corporate blogger in the Fortune 500. He will immediately help our clients because he combines a deep understanding of enterprise technology with a customer mindset and the skills of a publisher that can think and communicate clearly in multiple languages.
Annalise was most recently interim President of Fleishman-Hillard’s High Road Communications, an integrated digital firm in Canada. She has led teams in the Middle East, North Africa and throughout the EMEA region and has expertise ranging in all aspects of B2B and B2C technologies. She also has led and conducted exceptional work for some of the world’s leading brands outside of technology.
We are investing in and building our companies so they can provide ‘next practices’ to our clients. Annalise and Lionel represent our commitment to create a leading integrated global technology team and expand our worldwide offering and capabilities for all brands.
Learn more about Lionel and Annalise and why they joined at W2O’s CommonSense Blog here and here.
Bob & Jim
With all of the hiring W2O Group/WCG have done recently, we wanted to take a little time to let our partners/customers/employees get to know some of these new employees better. To that end, we are kicking off a blog series that asks each of our new employees to answer five questions — some straightforward and some that show our more playful slide. Via this process, we’re hoping to give our readers a little better sense of who we are.
For our first interview, who better to feature than one of the smartest guys in the tech industry, Lionel Menchaca. Without stealing too much of his thunder, let’s jump into the questions:
- [Aaron] Welcome to the W2O Team Lionel. We’re looking forward to working with you. For our first question, talk a little bit about your past experience.
[Lionel] Thanks Aaron. Happy to be here. In terms of background, I come to W2O after spending 18 years at Dell. For a big chunk of that time, I worked in Product and Corporate PR. In the last seven years, I was Dell’s Chief Blogger where I focused on writing about all aspects of the company. Today Direct2Dell has more than 500 contributors and earned over 2 million page views last year. Being an early adopter in corporate blogging helped provide the framework that shaped subsequent social efforts in social networks like Facebook, Twitter and beyond.
- [Aaron] What is your “super power?”
[Lionel] My super power is empathy. Being focused on what mattered to customers has always been a key reason for success.
- [Aaron] If you could work with any company as a client, who would it be and why?
[Lionel] I would say Google because they seem to be pushing the technological boundaries as well as anyone in the tech space these days.
- [Aaron] How do you stay up to date on latest trends/industry news?
[Lionel] I read a lot of individual blogs but believe it or not, I still go the same place I’ve gone to since I started blogging at Dell namely, TechMeme. In addition, I regularly read The Verge, Engadget, BGR, GigaOm and ReadWrite as well.
- [Aaron] Finish this sentence… “The agency of the future is ________.”
[Lionel] The agency of the future is able to help companies make sense of the volumes of social information and to build tools that help them better cope with the changes that come along with it.
Big thanks to Lionel for answering these questions. You can expect to be hearing a lot more from him on this very blog. If you have additional questions for him, you can find him on Twitter
or leave it for him on the blog.
Imagine yourself leading a global brand. An outside firm walks in full of smiles and power points and says:
“I have this great measurement tool that ignores the majority of the world’s 1.7 billion people online. It only tells you what the media is saying about your product vs. competitors in a limited pool. We don’t let our measurement tool get distracted by what customers are saying and we sure don’t include word of mouth or ratings and reviews or forum questions, since who knows what’s happening when a message rips across multiple forms of media. We do this, since a message is only delivered correctly if it is published. This idea of people “sharing” your content is not relevant to building your brand. Who really knows who these folks are, right? So we give you a precise read out for a limited group that avoids this “customer static” about their beliefs. The result is that we only measure what is said about your brand, not the conversations and topics customers are actually talking about, since that is “off-brand”. Finally, we like to provide you with imprecise sentiment scores so you can make up a story of what is really happening, since we have to admit that all of these pie charts and data don’t really tell us a whole lot.”
Two seconds, maybe three before you throw them out of your office?
Well, if you believe that……please read more on how the world has changed. I know the above quote is sarcastic, but it’s reasonably close to reality for past measurement systems.
We live in a world where share of conversation is what matters.
Share of voice is this limited look at a brand and its competitors. It makes for nice charts showing increases or decreases each month vs peers, but it is not how customers think.
Here is how the world has changed and why it matters. Conversations are as important or, in some cases, more important to impacting search results. Conversations occur in high volume 24/7. Search is now forming the #1 first impression for your brand. Video search via YouTube is now part of that impression as the 2nd largest search engine. And, as 3 out of 4 peers routinely look to each other for advice on their next important move, it is their conversations that matter. It is what your neighbor says that we care about the most……
What it means is that it is less important about what you said at a press conference. It is increasingly important to know what is being said on a Saturday morning on a forum that is relevant to your brand that you may not be participating in today.
Share of conversation is defined by the topics and conversations that your customers care about. They are often not brand-related at all, yet they are directly relevant to you. I’ve measured hundreds of brands online and I can tell you that share of conversation is routinely 20-40x higher in volume than share of voice. Here’s a few examples using Google search as a simple diagnostic tool, so you can do your own analysis after reading this post.
If you search Orbitz, you find 8.14MM results, but travel has 770MM. Salesforce.com has 3.03MM, but cloud computing has 31.3MM. I’m writing today on a Latitude E4200 which has 3.14MM results, but laptops has 63.1MM. Even Google has 2.1 billion results, while search has 5.6 billion.
The action is in the larger search. Ask yourself if you know personally the people who are driving share of conversation on topics like travel or cloud computing or laptops or search. If not, why not? Ask yourself next if you have ever thought of asking these leaders of the conversation to participate with you in any way, shape or form. If not, why not? And finally, ask yourself if you know which topics of conversation are most relevant for your brand?
There are many other ways to show how our customers are measuring us every day via their actions and conversations, ranging from their use of forums to how they recommend or dismiss or ignore our products. This is the real conversation you want to measure and know where you stand.
It’s less about how you are doing vs. your competitors. It’s much more about your relevance with the people who may decide to buy your product.
So next time you hear about measurement, ask what your share of conversation is. Ask for precision on exactly who has influence, why and what they believe is important. Ask how you will know if you are becoming more relevant in the peer to peer world we live in. Climb deeper into the world of your customers and let the models of the past gracefully move towards extinction.
All the best, Bob
If you want some insight into who’s doing what in business-to-business engagement with social media in the UK, the Dell B2B Social Media Huddle on December 7 is an event that you’ll not want to miss.
During a full day at Dell’s UK headquarters in Bracknell, we’ll be hearing about and discussing insights and examples of B2B communication with social media from a wide range of business people who have direct experience of planning and executing communication strategies in which social media have played a measurable role.
The aim of this informal event is to bring together senior communications and marketing professionals to exchange and share experiences on B2B social media for mutual benefit.
The event is divided into three principal sections:
- A general overview of the B2B social media landscape
- Case study mash-up / unconference
- Roundtable sessions on:
– Integrating social media into your programmes in the right way
– Social media and monetization techniques
The second section – case study mashup/unconference – has great promise to be the most interactive experience for everyone. There’s no set agenda: if you have a business story you’d like to tell, you can do that on the day.
We’ve got a terrific line-up of speakers to help everyone make the most of the day:
- Neville Hobson, Head of Social Media Europe, WeissComm Group, UK
- Richard Binhammer, Senior Manager Corporate Communications, Dell Inc., USA
- Steve Lamb, PR Manager, Microsoft Ltd., UK
- Benjamin Ellis, Director and Co-Founder, Redcatco, UK
- Kerry Bridge, Digital Media Communications, Dell Public Sector, Dell Ltd., UK
- Jamie Grenney, Senior Director of Content, Community and Social Media, Salesforce.com, USA
- Michelle Goodall, Online PR and Social Media Consultant/Trainer, Econsultancy.com
- Sarah Wright, Enterprise Programmes Marketing Manager EMEA, Juniper Networks, UK
- Henry Clifford-Jones, European Director, Advertising at LinkedIn, UK
You can get the details, including the agenda, in the event PDF at Slideshare. The brochure will be updated as more speakers join us.
The event is free of charge: if you’d like to participate, just sign up.
So mark your diary: the B2B Social Media Huddle on Monday December 7, 2009, at Dell’s UK headquarters in Bracknell – a whole day to exchange and share experiences on B2B social media for mutual benefit.
[Credit for image used in brochure and above: The Conversation Prism by Brian Solis and Jesse Thomas. Creative Commons licensed.]
This post also appears on NevilleHobson.com; and on Direct2Dell, the corporate blog of Dell, Inc.