Social Media Insights Social Media Trends and Analytics Implications

Transcription

1 Social Media Insights 2018 Social Media Trends and Analytics Implications

2 4 trends for VIDEO CONTENT CONSUMPTION SKYROCKETS TRUST DECLINES, PEER INFLUENCE RISES HUMANS, MEET AI 04 THE PROMISE (and reality) OF SOCIAL DATA

3 1. VIDEO CONTENT CONSUMPTION SKYROCKETS Brands are turning into publishers. Social networks are encouraging brands to become broadcasters % 1200% 85% Million words Is the value of one- minute video (Video Brewer) of people want to see more video content from marketers (HubSpot) more shares are generated from video than text and image combined (Responsive Bound Marketing) of Facebook Video is watched without sound Billion users, almost 1/3 of all people on the internet are on YOUTUBE Million hours of video Are watched everyday on Facebook (TechCrunch). 3

4 1. VIDEO CONTENT CONSUMPTION SKYROCKETS What are the Social Media Analytics Implications C IMAGE RECOGNITION AND SPEECH RECOGNITION FOCUS IN THE FUTURE AT IMAGE AND SPEECH RECOGNITION ON VIDEOS B UNDERSTAND THE IMPACT OF VIDEOS CHECKING SUBSCRIBERS AND FOLLOWERS TO UNDERSTAND THE EFFECT OF VIDEOS A GATHERING DATA AND ANALYSISING FROM YOUTUBE, INSTAGRAM VIDEOS, FACEBOOK VIDEO 4

5 2. TRUST DECLINES, PEER INFLUENCE RISES Trust in media, government and corporations are significantly declining. Consumers turn to a familiar source: Each Other. Public Trust in Governance nearly historic lows! Around 20% 5

6 2. TRUST DECLINES, PEER INFLUENCE RISES Trust in media, government and corporations are significantly declining. Consumers turn to a familiar source: Each Other. 15% is expressing trust in the Governance in Greece. 7% is expressing trust in the Greek Political Parties. 48% is expressing trust in Church 6

7 TRUST FOR ALL MEDIA KEEPS DECLINING a b c d e MEDIA TRUST INDEX

8 EVEN THE ONLINE MEDIA S TRUST DECLINS a b c d e INTERNET TRUST INDEX

9 Influencers, Micro Influencers and Brand Ambassadors are driving the brand s advocacy Today more than ever, monitoring the brand s advocacy is the most crucial metric for a brand. Understanding the level of advocacy and the use of influencers is the key in successful brands. 88% 90% of Buyers Consider online reviews very influential when making a purchase decision of consumers trust peer recommendations While 33% of consumers trust ads * Source: Group High Research

10 SOCIAL NETWORKS HAVE A STRONG SOCIAL IMPACT FFLINE AND VIRTUAL LIFE Online social interactions are some of the aspects that have emerged in recent discussion. MEASURE YOUR DIGITAL BRAND EQUITY MAKE SURE TO KEEP TRACK OF ONLINE ADVOCACY LEVELS B A 10

11 DIGITAL BRAND EQUITY ANALYSIS FRAMEWORK 01 BRAND AWARENESS MEASURE AND DECODE AWARENESS OF THE BRANDS. GIVEN THE LEVEL OF BUZZ IN THE SOCIAL AND WEB ENVIRONMENT: MEASURE HOW MUCH A BRAND IS PROMINENT IN CONSUMERS MIND AND HOW HIGHLY IS PLACED INTO DAILY DISCUSSIONS RELEVANCE TO THE BRAND ANALYSE THE EXISTING DISCUSSIONS TO UNDERSTAND WHETHER THE BRAND IS RELEVANT TO CONSUMERS AFFINITY TO THE BRAND ANALYSE THE DISCUSSIONS TO UNDERSTAND THE LEVEL OF AFFINITY CONSUMERS HAVE WITH EACH BRAND 04 IMAGERY OF THE BRAND UNDERSTAND AND DECODE WHAT IMAGE EACH BRAND CONVEYS IN CONSUMERS MIND

12 3. HUMANS, MEET AI Automation can be exceptionally useful but AI strategy must stay focused on being human, helpful and relevant at a scale Artificial intelligence (AI) is the ability of computers to understand certain aspects of the natural world, and ultimately, use that understanding to complete tasks normally requiring human intellect and effort.

13 3. HUMANS, MEET AI N Though there are numerous applications of AI in marketing, all of them fulfill a single purpose. To better understand the customer and W E make smarter marketing decisions. S Approximately 2 billion internet users are active on social media One in every four people in the world Every minute on Facebook: 510,000 comments are posted, 293,000 statuses are updated, and 136,000 photos are uploaded. Instagram users post 46,740 pictures every minute 1,209,600 new data producing social media users each day tweets per day!

14 AI APPLICATIONS TO SOCIAL MEDIA INSIGHTS GENERATION With this enormous amount of data available, it becomes more and more important the use of AI in the social media analytics practices. 02 DISCUSSION THEMES Automatically generated themes of discussions ANALYSIS OF SENTIMENT Automatically generated sentiment 01 14

15 10/10/ /13/ /16/ /19/ /22/ /25/ /28/ /31/ /3/ /6/ /9/ /12/ /15/ /18/ /21/ /24/ /27/ /30/ /3/ /6/ /9/ /12/ /15/ /18/ /21/ /24/ /27/ /30/2017 1/2/2018 1/5/2018 1/8/2018 1/11/2018 1/14/2018 1/17/2018 1/20/2018 1/23/2018 1/26/2018 1/29/2018 2/1/2018 2/4/2018 2/7/2018 2/10/2018 2/13/2018 2/16/2018 2/19/2018 2/22/2018 2/25/2018 2/28/2018 3/3/2018 3/6/2018 3/9/2018 3/12/2018 3/15/2018 3/18/2018 3/21/2018 3/24/2018 3/27/2018 3/30/2018 4/2/2018 4/5/2018 4/8/2018 4/11/2018 Monitoring Themes through time, provides better Insights Example of a Super Market s Theme Trendline. Prices Quality Stores Customer Service Variety Greekness

16 4. THE PROMISE (and reality) OF SOCIAL DATA There is been a lot of talk about the benefits of uncovering insights with social data. But integrating social data with other analytics systems or finding useful insights from social mentions required more work and more resources. In 2018, the promise of social data remains but organizations will have to re- calculate the effort and resources need to turn it into a true source of customer insights. Almost every company is trying to get a slice of the social media pie. Creating profiles on multiple social media platforms in hopes to increase your brand message is all well and good. But the sweeter part of the equation is more often than not the SOCIAL MEDIA ANALYTICS.

17 TIPS TOWARDS THE PROMISE MONITORING SOCIAL MEDIA CONTENT Use a systematic and in parallel creative way of data analysis Use Quantitative techniques to cluster and depict the size of the issues at hand Use Qualitative techniques to unveil the topics of discussion and understand the brand effect 17

18 TIPS TOWARDS THE PROMISE PROCESS AND STUCTURE IS KEY BRIEF The most important part of the process is a detailed brief. With this high amount of information out there, only a detailed brief can guide an analyst to focus on the correct data and analysis to provide Insights. Collect Analyze Synthesize INSIGHTS Collect data from all different sources and all different metrics Enriching the social media content Sentiment Analysis Document Clustering World Clouds User s profile and information Synthesize information and reach out on Insights. Provide actionable insights for clients Tracking Monitor Analysis of conversations (topics) Analysis of emotions Who s talking? Where? Deliver insights driven data based on the given brief. 18

19 EXAMPLES OF SOCIAL MEDIA ANALYTICS PROJECTS 01 BRAND REPUTATION STUDIES Using Social Media data to understand the brand s reputation online And much more DIGITAL BRAND EQUITY STUDIES Using Social Media data to decode the brand s equity against its competitors. Analyze data in terms of the key equity factors. DIGITAL CAMPAIGN EVALUATION STUDIES Using Social Media data to understand the impact of a given campaign. Analyze data to understand the buzz of the campaign, but also the effect to the brand and whether desired messages that needed to be achieved were reached. NEW PRODUCT LAUNCHES EVALUATION STUDIES Using Social Media data to measure the buzz created around new launches. Understand interest of the new product, advocacy, excitement. USAGE AND ATTITUDES STUDIES Using Social Media data to understand a whole category. Measure attitudes and beliefs on brands and the category as a whole. Use insights to create new products, new campaigns or gain general knowledge. 19

20 CRITICAL SUCCESS FACTORS FOR SOCIAL MEDIA INSIGHTS 01 THE BRIEF: Make sure you provide rich background information to analysts. Understanding the project s goal, the target audience etc is not a luxury, is a necessity. DATA IS THE KING: The period of the data and the queries used are crucial 02 READ. READ. READ. 04 No mater how technology advances and machine learning techniques are used, reading posts and social mentions is the only way to stay in touch with consumers and get CONTINUITY: Continuous measure is key. Most of the insights are stemming from the analysis over time. Trends can only be spotted if you measure over a period of time. 03 insights. 20

21 TO SUM UP 01 VIDEO CONTENT CONSUMPTION SKYROCKETS Make sure that your data are including videos and analytics around them. Stay tuned for Image and Speech Recognitions on videos 02 TRUST DECLINES, PEER INFLUENCE RISES Keep Track of you Advocacy Levels Monitor Influencers Check your Digital Brand Equity to gain more Insights 03 HUMANS, MEET AI Use AI Techniques to get quick access to structured data and draw your insights. 04 THE PROMISE (and reality) OF SOCIAL DATA Be Open to Analysts. Trust the data and Unleash the Social Media Data Opportunities. 21

22 You never really learn much, from hearing yourself talking George Clooney

23 THANK YOU