Social Media and the Analytics Opportunity Frank Cotignola March 13, 2013

Agenda Data mining for social sites Social media listening (platforms, text analytics/sentiment analysis) Social media data as big data component

“The same digital and social data that are revolutionizing ad targeting and relationship building offer us researchers the opportunity of a lifetime. It is the chance to make the bemoaning go away… that we are too slow, that our findings aren’t actionable, and that we are genetically modified versions of accountants who don’t get what the business is about.” Joel Rubinson

What is “social media listening?”

Understanding Consumers Via: 1. Social Media Conversations 2. Search Behavior 3. Integration With Other Data

How can this uncover opportunities? By going beyond brands and typical dig sites

Can we understand consumer needs without asking consumers?

“Pick me up” eating occasions

Energy drinks describe “pick me up” and “wake me up” (and negatively) Time of day also important 99,510 mentions 68,340 mentions 423,750 mentions 4,223,452 Mentions NetBase December 18, 2012 MentionsLikes/Dislikes

Taste is polarizing NetBase December 18, 2012 LikesDislikes

Facebook and Twitter far outweigh other domains people are using to talk about “Pick Me Up” NetBase December 18, 2012 Twitter FB

Conversations are morning/food dominated NetBase December 18, 2012

Hashtags/what to solve?

What is your goal? Tracking? Insights? Brand Reputation? BI? Because We’re Supposed To? Managed Internally? Use Agency? Mentions? Sentiment? Measure Influence?

Different goals require different solutions

Things to consider Interested in tracking mentions, sentiment, engagement, etc., most large services work well –Cost, deployment a consideration –Free tools? If true BI and insights are your goal, you need to go beyond mentions and sentiment How to integrate with more traditional insights? Starting or ending point?

20 Barriers Not What I’m Used To No Time Too Much to Read Not My Consumers Missing Demographics Not Representative

Flavors

What Flavors are being talked about? Source: Tracx 30 days ending Mint

Blogs dominate flavor conversations Source: Tracx 30 days ending

Mint also dominates search Source: Google Trends Through

Sentiment mostly neutral, although some strong negatives/positives Source: Tracx 30 days ending

Focus on Parmesan, Basil conversations ingredient, cooking focus Source: Tracx 30 days ending

The “Big Data” Reality We still live in a world of small data Use of tools hasn’t caught up to the promise (world of Excel) Can’t put my finger on all the data we have –Big data confused with knowledge management What are the common elements? How do we integrate? “How is this different from what I am doing already?”

What’s typically done: Overlay conversations onto sales data Does this tell us anything? Net Sentiment # Of Comments Source: NetBase

What’s possible

“Destroy” Positive vs. negative behaviors about the economy Source: NetBase 52 Weeks Ending September 1, 2012

Sentiment about the economy grew more positive in Q4 (but still overall negative) Top Sources of Buzz 34 Source: NetBase January 3, 2013,

“Strong” and “Weak” dominated (but not “destroyed”) Source: NetBase January 3, 2013, 35

“Government” dominates (expected after election) but still focus on “jobs” and “taxes” 36 Source: NetBase January 3, 2013,

IN THE END… Social Media Can Provide Insights on Its Own It Can Also Enhance “Asking” Research

Thank you! Frank

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