Friday Jan 24, 2014

How Orgs Can Set Up an Analytics Framework that Leverages Social Data

social marketing, social mediaIn our last blog we discussed how a good bit of our social marketing focus should be on social listening. The wonderful product of all that listening is a wealth of social data. But what do you do with it? How do you employ it? How do you turn it into something actionable that speaks to business goals?


The answers lie in setting up a framework in the organization to move and process not just social data, but social data combined with enterprise and public and curated data. We wouldn’t want to withhold that kind of knowledge from you, so we have a new and FREE Oracle White Paper, “The Value of Social Data,” available for download on the subject.


While it certainly doesn’t cover all the bases (that’s why you need a White Paper), here are a few points from Oracle Social VP Product Development Don Springer.


  • Orgs have made significant progress in deploying social CRM, but want stronger, more automated ways to socially enable customer-facing functions.

  • Enterprise data growth is expected to continue at 40% through 2020, driven by consumer generated content.

  • The social CRM process involves listening, engaging (1-on-1), creating relevant content, publishing, establishing and managing workflows, and analyzing.

  • When that process is set up, you then amplify the social value you get by integrating with other core applications.

  • A Socially Enabled Consumer Data Store can provide a 360-degree view of your customers.

  • This store consists of unstructured content that captures customers intentions, interests and needs from social/internal data sources; plus quantified transactional, behavioral & customer profile data in your CX Management Applications.

  • Additional “public” data can be integrated via a cloud-based Data-as-as-Service platform (DaaS).

  • The key is not just getting the data, but using it to help discover the insights to connect to and improve KPIs.

  • We’ve seen a need for more business applications to ingest and use “quality” curated, social, transactional reference data and corresponding insights.

  • The problem for orgs is getting this data into an easily accessible system and having the contextual integration of the data/insights exportable to business applications.

  • Essentially, DaaS becomes a single entry point for public data, able to extract and integrate the right data from the right sources with the right factoring at the right time.

  • The CMO and CIO are collaborating out of necessity to integrate social and enterprise data into a data “pool” so all departments can leverage it.

  • Over time, these analytics become your knowledge base for a data-driven approach to optimization and continuous improvement.


Don’t forget to download the full “The Value of Social Data” paper at your convenience and start pondering what your enterprise’s framework might look like.


@mikestiles
Photo: stock.xchng

Tuesday Aug 06, 2013

Integrated Social and Enterprise Data = Enhanced Analytics. Why a Savvy CMO + Experienced CIO are Necessary to Succeed

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.

handful of screensIn 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?

  • The CMO has become the primary owner for social (earned, owned and paid media) within the enterprise and is leading the effort to create more compelling customer experiences by listening, learning and engaging with customers meaningfully. The CMO buys the social CRM tools, selects the data and hires the staff to drive social relationship management within the enterprise. Usually, marketing are the social experts within the company.
  • The CIO has always been the owner and provider of the enterprise’s traditional data (including customer records such as transactional, operational, and behavioral). In addition, the CIO typically leads the technical architecture decisions to acquire, store, process and make available new forms of consumer generated information to the enterprise.
  • The rest of the enterprise needs access to unified and enriched data, made more valuable by blending social and enterprise data together intelligently. The enterprise’s departments are looking to the CMO to drive business requirements and social “know-how” and the CIO to manage data & technical architecture and integration interfaces. As a team, they’re being called on to lead the charge on socially enabling their organization.

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:

  • Traditional sources (customer profile data and transactional data including orders, service requests, digital campaign response history, surveys, etc.)
  • Social data (unified social profiles, tweets, posts, pictures, videos, etc.).

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:

don blog graphic

Pre-Campaign
There are two important areas to analyze for data insights, prior to preparing the campaign:

  • Current Content Performance: what type of content are consumers engaging with the most across your digital & social assets? What times/days of the week are optimal for communication, and is it different between social, digital and traditional media? What is the demographic breakdown of your customer base, fan base?
  • Current Consumer Conversation: what are consumers saying about your brand/products? Is there language that you can echo back, are there current conversations happening that you should be aware of (e.g. a problem with a product, or specific questions, or a gap that my latest campaign could help address), are your competitors doing something similar, what are their current taglines, how are consumers reacting to their products & language vs. your own?

Launch
Leverage the pre-campaign analysis to inform the campaign’s overall strategy & success metrics. Then, do the campaign creative, corresponding content, schedule, and launch.

During Campaign
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:

  • Quantitative – Track what is working across owned and paid media (reach, impressions, engagement metrics, responses, growth in fans, etc.)
  • Qualitative – Track why the campaign is working by listening to/polling targeted consumers for their themes of interest, desired response propensity, likes/dislikes, why resonating/irritating by targeted profiles, etc.

Post-Campaign
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

Tuesday May 07, 2013

Social ROI: Our Industry’s Screaming Goat

goatYou know the screaming goat meme, right? It’s where a goat will pop up in a video with a hair-raising bleat and jarringly interrupt whatever was happening in the video. Well that’s social ROI. Despite all the cool advancements and opportunities social keeps bringing to marketers, ROI keeps popping up. Baaaaaa!

It’s understandable. A CEO can listen all day long to the litany of amazing things social can do and still likely wrap the meeting up with, “Yeah, but…” For them, it all boils down to a need to determine if all this is doing them any good. The Fournaise Marketing Group found out 73% of CEOs think marketers lack business credibility because they aren’t focused on tangible value.

We who are intuitive about social know the corporate world has been turned on its head, as has marketing, CRM and CX. We know the customer is in charge. We know we can’t control the message 100% anymore. We know we can’t just push our ads, we have to listen. We know we have to give customers content of real value. We know that great products and service + trust in the brand gets you the kind of highly effective customer evangelism that leads to more customers, lifelong loyalty, and sales.

Baaaaaaaa!

That’s not good enough for the screaming social ROI goat. They want you to prove that your tweet directly led to the sale of a widget. Here’s what you tell them.

Social ROI alone might forever be too elusive to fully calm the restless CEO. But the coming Social Enabled Enterprise ROI can. It’s more than tweeting, posting or putting up that video you hope will go viral, it’s holistically integrated big data (including social data) that gathers intelligence, analyzes it and uses it to conduct precision targeting on your most likely prospects. It's marketing automation bringing paid, owned and earned together.  It’s marketing that shifts from screaming in the dark to solving problems for customers with whom you have a relationship. Even the loudest goat can connect improved efficiencies to ROI.

With social, there’s a virtual parade of disparate ROI’s, including financial, prospect engagement, search engine ranking, brand reputation, thought leadership, and competitive edge. Hypatia Research shows nearly 13% of companies don’t measure social ROI at all, possibly because they assume there is none or regard it as too fuzzy.

Baaaaaaa!

Tell your goat to quit munching on tin cans and get a social relationship management platform that lets you attract the public, listen to what they’re saying about how you could get them to love you more and buy more from you, analyze the effectiveness your communications, monitor so you can react to issues with blinding speed and tear down barriers to sales, and integrate with existing CRM systems so all data works hand-in-hand and isn’t wasted. The holistic, socially enabled enterprise of the future operates knowing ROI is now about value and efficiencies, which in turn converts to profits.

@mikestiles
Photo: stock.xchng

Friday Mar 15, 2013

Social Insights: Katie’s Got a Problem

The following is based on a presentation given by Oracle VP Product Strategy JP Saunders at Oracle CloudWorld.  Check the dates to see when CloudWorld is in a city near you.

Katie’s got a problem, and depending on how you handle it, she may have two problems. If you’re set up to have social insights differentiate your brand by improving her customer experience, everything will be fine. If you’re not, Katie won’t be impressed and will be more than happy to tell friends about it.

Katie’s been a loyal customer for years and has made several purchases. She’s also “regularly active” on social. Her daughter’s birthday is in 2 days and she’s trying to get the present she wants.

Most customers still turn first to a brand’s web site help. Whether she Googles the issue or goes right to your support page, she winds up in your self-service portal. She can’t find her answer quickly or easily. So she initiates a service request. Her reward…an automated email saying she’ll get a response. 24-hrs later, still no answer and her daughter isn’t getting any younger.

Now she goes public, posting the question to your Facebook Page with a likely frustrated tone. Typically, Facebook’s managed by Marketing or PR, so that’s who sees her cry for help. The fan base now watching, they tell Katie support will be alerted. Marketing emails support and, you guessed it, another service request is generated. Katie’s having a poor experience and the organization looks confused.

There’s a better way. Katie couldn’t self-serve because she couldn’t find what she was looking for, or it wasn’t there. Social offers the chance to go beyond FAQs and leverage the collective knowledge of your customers. What if she were encouraged to pose her question to other customers so they could solve her problem? Is that better than a “we’ll get back to you someday” email?

When Katie provided an email to get help, you could have asked her to authenticate with one of her existing social accounts. Studies suggest this lowers friction and abandonment rates, but what it does for you is build a social profile of your customers. You don’t have to wait until she’s on Facebook to start collecting social profile data.

When Katie generated a service request, existing social data on her could have helped. You’d know how influential she is on social, you’d be able to prioritize and customize your response to her, she could be asked for her communication preferences, and no matter what touch point she used, you would recognize her as “Katie, your customer.”

If Katie initiated a service request on your site with email, then she went to your Facebook Page where she was authenticated differently, you wouldn’t know this was the same person. The Community Manager wouldn’t know a service request had already been opened. Now Katie’s had a bad experience and there are redundant service requests.

Integration is the key to the entire organization knowing who Katie is. A structure should be in place that manages customer interactions as they cross departments. Social data is tied into CRM data. The conversation suite tracking Katie’s Facebook conversation is tied to the service department. Interdepartmental emails give way to automated holistic toolsets.

Marketing forwards her issue to service with a click, context and content preserved. The handoff to service is tracked. When service resolves the issue, the system updates so everybody knows where things stand with Katie. You’ve improved Katie’s experience so that she remains a loyal, happy customer. And you have better efficiencies and fewer headaches in your organization.

Now Katie can go brag to everyone she’s connected with on social about how great you are. No problem.

@mikestiles

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