Monthly Archives

August 2015

5 Reasons Why Social Listening Matters

By | Social Media Marketing | No Comments

Should your company be investing in social listening? Social media listening, also known as social media monitoring, is identifying and assessing what is being said about a company, individual, product or brand online. We share our opinions and views on social platforms. Listening in on those conversations can help brands in numerous ways. Here are five ways your company could benefit from social listening.

Competitive Analysis

With social listening, we now have access to greater competitive intelligence. In addition to telling us what is happening or the opinions on the market overall, social listening can provide clear insights into who your competitors are and what they are doing. You can see what frustrations consumers have with competitors, what services your competitors are launching or having difficulties with and what exactly the market is willing to pay for your service/product.

Customer Sentiment

Social listening provides the fastest insights into your customers sentiment around your brand. Filter the content to see the various areas that surround negative and positive comments. Social listening is an amazing focus group. After a big product launch or update, track to see who’s sharing info around it. You can then reach out to those influencers and build stronger relationships to keep your sentiment high.

Purchase Signals

We know that consumers turn to referrals and recommendations before making an important decision. This typically plays out on social media — and this is where you can influence decisions. You can really see what your audience is looking for and needs. Then, you’re able to create an organic conversation with the consumer. When you join the conversation, it creates a more authentic relationship with your audience, and they remember that. You could even take it a step further and send consumers who do sign up or purchase your product from these conversations a personalised email. Social listening gives you an edge and the opportunity for real interactions with your base.

Customer Service and Retention

While this benefit seems obvious, it can be overlooked. Social listening gives your teams the ability to listen to your own channels, as well as shared channels to really see what your consumers need. Customer acquisition is six times more expensive than retention, social listening gives you the opportunity to ensure you’re keeping your customers happy. Satisfied customers are one of your greatest marketing resources.

Find Top Talent

Social listening doesn’t just benefit your marketing team. HR can use social listening to track down top talent. By monitoring conversations in forums, in social groups or on blogs, your HR team can identify key candidates with remarkable skill sets.

Social listening goes beyond these five benefits, providing great ROI for any brand engaging in it.

4 Ways To Make Real-Time Work For You

By | Social Media Marketing | No Comments

“Don’t compete for the moment. Compete for meaning. If you compete for the moment you’re irrelevant.” – Brian Solis

Real-time marketing seems like a buzz word, but it also provides a real way to connect with your target audience. But before we dive into why it’s so valuable, let’s start with what it really is. Real-time marketing is just the practice of engaging your audience with content and ads that are relevant to an event, cultural phenomenon or moment currently happening. Real-time data is data that updates or is provided as those events or phenomenon are happening. For example, real-time data can be who is visiting your website at a specific time or what is trending around an event or in a specific market.

How do these two relate? Well, real-time data helps power real-time marketing. We now have access to more data than ever before, including who clicks and share what, how visitors navigate sites and more. All in a matter of moments. So, how do you use this data and marketing to gain the biggest impact? Altimeter done some incredible research into the topic, dividing opportunities into six areas.

Altimeter

We break down four specific use cases:

1. Use real-time to react to crisis better and address consumer complaints.

Social media has provided the world instant access, which means brands must be paying attention more than ever. Real-time data lets you know when consumers are concerned and gives your brand the opportunity to respond faster. 72% of people who complain on Twitter expect a response within an hour. So, real-time data enables you to see when a customer has a complaint and respond quickly.

We’ve seen this help brands, like Nike. In early 2014, the latest generation of our touch-screen command centres were installed at Nike’s European HQ. Situated in the centre of the Marketing Office, it is now an integral part of not only day-to-day brand monitoring but also product launches and crisis situations.

Its key benefit to Nike is in increasing the ability to react and share social content and data quickly. Nike’s team could then market in the moment to great effect.

This became especially important during the launch of the England kit for the 2014 World Cup. As soon as the kit was launched, consumers started commenting very negatively on the price. The social team could instantly see this and identify key hot points and influencers in the conversation.

They then brought the CMO into the conversation by inviting him to watch the live data. Using the insights, they rapidly came up with a strategy to neutralise dissenting conversation. All this was done in a matter of minutes without the need for reports. The speed of response was key in their team having an effective response.

2. Use real-time to generate organic and natural dialogue with consumers.

Real-time marketing gives brands the opportunity to insert themselves into relevant conversations and generate a more organic dialogue with their target audience. Why does this matter? Well, we know that content marketing is an efficient funnel. Real-time marketing cuts the costs of content creation, providing that natural outlet. Some brands, like Oreo, have done this quite smartly, but with a savvy individual or team behind your social accounts, any brand can join the conversation.

3. Use real-time to better understand what your customers want.

Who are your consumers and what are they interested in? People talk about what they love and what resonates with them. Real-time data helps you aggregate that data and dive deeper into it. We’ve seen this work with our friends at M&S.

In January 2013, we installed several nine-sceen video walls in the main cafe and communal areas of M&S. Seeing what our team had created for Nokia, M&S wanted something that similarly engaged all their employees more with their customers. The idea was to create a culture of listening at M&S and to share actionable insights with the whole company.

Immediately after our screens went live, the team who ran the M&S Confectionary saw that their Percy Pig product was frequently mentioned. They brought key decision makers over to the communal screens to share these insights from customers. This lead to a significant increase in Percy Pig related products being green-lit for development, many of which have become top sellers.

4. Use real-time to maximise social campaigns.

Social data provides insight into your marketing efforts and the ability to optimize your campaigns in unique ways. Real-time provides you the data to see what components of your brand, service or product are hits with your audience.

In early 2014, a major fashion brand began experimenting with our platform during Fashion Week. Buzz Radar was able to provide their marketing team with data around the most talked about products from their runway shows, as well as the models that resonated with their audience most.

The social team was then able to pair the items to create stronger marketing assets based on their target consumers’ interests. These campaigns were able to be disseminated quickly following the shows, creating high uptick in demand and stronger campaigns overall.

Real-time gives your brand the power to market smarter, better and on target.

Vocabulary Matters: The Different Types of Data

By | Food for thought | No Comments

Big data. Social data. Real-time data.

These terms are thrown about all the time; do we really understand what each refer to? When collecting data, it’s important to know the merits of each type you’re aggregating. So, we’re reviewing what each version is and why it matters.

Social Data

Social data is information created and shared by individuals themselves. It’s users’ data taken straight from social media platforms, like Twitter and Facebook. This includes what we share on our social profiles, profile data, and behavioural data. What’s available to marketers varies from platform to platform, but it is a rich source of data.

From profile data, there are over 200 data points available, including name, age and email. User-generated data focuses on what users share and the content created by users. This is largely status updates, links shared and photos uploaded. Behavioural data looks at the actions taken by a user, including what they like, who they interact with and links clicked.

With social data, it is important to note a few factors. All data is subject to what the user wants to be seen or known about him/herself. How we describe ourselves online isn’t always the most accurate, but it does reveal how we want to be associated. Geographical data in this arena is also limited. Most individuals choose not to share location, meaning that you’re only looking at a subsection of your audience’s geography.

Big Data

Big data can be distilled to large data sets analyzed for patterns, trends, and associations, particularly around human behavior and interactions. Big data is a collection of data from traditional and digital sources inside and outside your company that represents a source for ongoing discovery and analysis. And it’s not as scary as it can sound.

Big data is used to really understand a system as a whole better. This leads to greater insights and better informed strategies. For example, Google is using big data to help better prepare counties before a flu outbreak, basing this off of search trends.

Real-time Data

Real-time data is any information that is simultaneously delivered. The core component of real-time data is that as it’s collected, the data is transmitted. With real-time data, you get data in, well, real time, as it happens. Speed is the focus. Real-time data updates as it occurs, such as who’s visiting your website at any given time, which topics are trending in which markets or what your customers are doing at any given moment.

With real-time data, brands are able to see errors or potential crises quickly and react accordingly. You can also understand competitors immediately, service issues or opportunities, sales opportunities and consumer trends. Ultimately, real-time data enables faster decisions based on real-time analytics.

Here, at Buzz Radar, we take live data of all kinds and transform it, ensuring it’s easier to understand across the board. We may reference all three forms of data, but our focus is that transformation.