This is the fourth in a series of posts on the value of leveraging social data across your enterprise, with Oracle Social VP Product Development Don Springer and Oracle Social Analytics Product Manager Kaylin Linke.
In today’s post, we are going to explore the recent trend, really a necessity, on the collaboration between the CMO and CIO to integrate social and enterprise data into a data “pool” so all departments in the organization can leverage it according to their specific needs. Why is this happening?
As discussed in previous posts, the value proposition for big data analytics is already recognized. The hard part can be getting started.
So, you want to integrate Social + Enterprise Data…
Let’s first review the basic steps of the data integration process:
Step 1: Identify the data.
This will be a mix of:
In this step, the CMO will be working alongside the CIO to identify what data is currently available and in what format. Any discovered gaps in data will need to be further researched to identify potential sources or solutions.
Step 2: Plug that data into a data exchange mechanism.
For new sources of public data (e.g. digital, curated, social, etc.), many are looking to migrate and outsource this to a cloud-based data-as-a-service provider or DaaS. For proprietary data, this can be stored in a private cloud environment or on-premise. In either approach, the office of the CIO will look for a solution allowing access to all data through a unified architectural approach, so new data-pools can leverage already implemented enterprise data pools (e.g. MDM records).
Step 3: Enrich the data.
As explained in a previous post on DaaS, the enterprise will want to enrich the combination of traditional data and social data to gain insights based on a more complete view of the customer. The CIO leads the delivery of these services to meet the requirements of the CMO.
Step 4: Analytics & next generation data pull.
By creating a shared data pool and sharing best practices, the CMO & CIO can help all functions across the enterprise conduct new insight detections and ongoing actionability through a variety of CX and CRM solutions.
Use Case – Improve Campaigns with Analytics that Leverage Social + Enterprise Data…
Let’s explore one of the most popular use cases for the office of the CMO, a campaign. Assuming the shared data pool is now in place (social + enterprise data), the following analytics-based approach toward optimizing the campaign across digital, social and traditional media channels is improved:
There are two important areas to analyze for data insights, prior to preparing the campaign:
Leverage the pre-campaign analysis to inform the campaign’s overall strategy & success metrics. Then, do the campaign creative, corresponding content, schedule, and launch.
Perform real-time monitoring to identify opportunities for campaign shifts to improve the outcome while you still can (adjust messaging, profile targeting media mix and media sequencing). Monitoring includes:
The post-campaign analysis then becomes the learning basis for your next pre-campaign work, along with re-starting your consumer analysis anew because social is ever-changing along with consumer perspectives. So stay fresh.
In addition, the insights learned may also feed into other opportunities – such as identifying key advocates, new, previously unknown opportunities, or new messaging platforms to extend or launch a campaign. By listening to “earned” conversations outside of your normal “owned” channels, you will find new influencers, brand advocates and loyal customers. These relationships can be an advantage for early testing during the soft release of a new product or promotion.
Also, insights viewed alongside the sales results of your campaign can provide you with analytics that provide a more complete picture of success. Over-time, these analytics become your knowledge base to deploy best practices and institute a data-driven approach to get on a path of optimization and continuous improvement.
It will be fascinating to watch how more executives join forces with the CMO and CIO to socially enable their various business functions and leverage the combination of social and traditional data to provide better customer experiences. We are already seeing this from some of our customers that are including Sales, E-Commerce and Support executives into their social corporate guidance teams. In the future, we will continue to shares trends where we see interesting use cases that leverage enterprise data alongside social data.
Photo: SOMMAI, freedigitalphotos.net