In
Likeable Social Media Dave Kerpen said, “Communication is 50 percent listening
and 50 percent talking. Yet for many
years, companies large and small have done a disproportionate amount of
talking, shouting even. Customer service
representative, marketing researchers, and focus group organizers may listen,
but budgets for these “listening” activities amount to little compared to the
money spend on mass media “talking.” For
the first time in our history, now, through social media, companies can listen
at scale to conversations about them and their competitors” (Kerpen, 2011,
p. 14) .
Scenario: You are the social media
head of a new men’s razor that was launched 2 weeks ago all around the
USA. The Vice President of Communication
noticed several negative comments on the social Web as well as dozens of
unanswered positive comments throughout the social Web but specifically when
typing in Google the word Razor or new men’s products. The VP realizes that action is required in
order to better listen and respond to customers who bought or are planning on
buying the new razor.
How do you achieve this and hit a home-run with
the new VP of Communications? SAP SocialMedia Analytics by Netbase, a product of SAP.
SAP Social Media Analytics by
Netbase helps SAP customers combine traditional business intelligence with
social media analytics to find new and valuable insights, such as: positive or
negative sentiment about a brand or product; extracts consumer perceptions from
the various social media platforms for analysis; understands buzz, sentiment,
passion, intensity, and conversation drivers; identify important social
conversations and people; fully understand your customers; respond
intelligently and consistently within minutes; leverage the entire organization
to assist customers. Social media is a
powerful tool. Whereas before it would
take time for bad sentiment to spread via word-of-mouth, nowadays millions can
see it instantaneously, as it spreads throughout the different social media platforms.
Now let’s relate the
scenario to a real-life example. A new
razor company, Shave & Save, has just launched a new 6-blade razor and a
new after-shave that smells like the ocean.
For whatever reason, a few men with negative sentiment have spread their
hatred of the combined products across social media, saying it’s expensive and
the after-shave is ‘eh.’ Shave and Save can collect that sentiment using Social
Media Analytics by Netbase and reach out to these men and make amends, or defend
their brand in various ways. Similarly,
Shave & Save can act on positive sentiment by extending discounts or coupons
to frequent customers. As most new companies
are short on staffing, Shave & Save can spend less on having many employees
monitor the different social media platforms and more on sales and research
& development.
Listening no longer
means being immersed in a face-to-face conversation. People are conversing globally, in real-time,
and are utilizing many different platforms to do so. Again, listening 2.0 is about making others feel
listened to and understood. A new razor
company could thrive or die based on its position out of the gate. SAP Social Media Analytics by Netbase
provides a 21st century solution for Shave & Save by giving it
the data it needs to make real-time decisions, become a best-run
business, and win!
Works
Cited
Corporate, S. (2015). Products: Social Media
Analytics by Netbase. Retrieved from SAP: http://www.sap.com
Kerpen, D. (2011). likeable social media. The
McGraw-Hill Companies.
McKinsey&Company. (2010, December). The rise of the
networked enterprise: Web 2.0 finds its payday. Retrieved from The rise of
the networked enterprise: Web 2.0 finds its payday:
http://www.mckinsey.com/insights/high_tech_telecoms_internet/the_rise_of_the_networked_enterprise_web_20_finds_its_payday
SAPInsidePresales. (2012, November 8). SAP Social Media
Analytics by Netbase: Turning Insight into Action. Retrieved from YouTube:
https://www.youtube.com/watch?v=cqd0DYWNuSc
Hi Andrew – Great post! I enjoyed your “Listening 2.0” terminology, and I think you’re right that the next phase of listening is to understand and engage with customers. Your recommended solution, SAP Social Media Analytics by Netbase, looks extremely comprehensive. I thought the video gave a great demonstration of the various capabilities, including key insights that are “must-haves” for companies in order to better understand what customers are saying about their brands on social media platforms (I loved the word clouds!). For Shave and Save, it seems like Social Media Analytics could illustrate and isolate the main concerns customers have with its new razor product, which will help the company figure out exactly how to respond and mitigate any negative sentiment. How do you think Social Media Analytics would have helped Shave and Save prior to the launch of its new product?
ReplyDelete@Mary - Thank you! I think the SAP Social Media Analytics product would've helped Shave & Shave tremendously before the launch of their own product. They could've gathered data about the industry in general and thus, curtailed their strategy to come out ahead - a crucial step for a blossoming company. The data could include anything
DeleteAndrew, Great post. A few questions, what would you be listening for when trying to grow your business? How would you add to the communications process in order to increase sales? Thanks, Loren
ReplyDelete@ Loren - Thank you! I would be listening to 'hear' what the customers want. The customers always wins; whether it be price, design, etc. If the customer doesn't like what Shave & Save is producing, it has no hope of being successful. I would use the data I collected from the various social media platforms to strategically send out my product info, deals, and updates where the most traffic was occurring. That traffic could change as time goes on, but I'd know about it from my product, SAP Social Media Analytics by Netbase.
DeleteAndrew,
ReplyDeleteWhat a great look at some of the tools that now exist to help understand the dynamic in social media space. Other tools such as Klout may provide similar results within a large capital investment such as a SAP developed system. One of the key statements that were made with in the video was the ability to easily identify influencers within the social media landscape. This is critical aspect that I think is sometime overlooked. If these touch points are identified it is much easier to influence the dynamic and perception of a product of organization. What do you think may be a quick approach to identify influancers without tools such as AP Social Media Analytics by Netbase or Klout?
Hi Shawn - Thanks for checking out my blog post, providing additional insight, and for asking a good question. I think without tools such as SAP's Social Media Analytics by Netbase, influencers would have to be identified using manual tactics and additional resources. Having someone monitor the vast social media platforms that are prevalent throughout the web, following other key influencers, tracking hastags, etc. That's why a product like this provides a key foundation and scalability as the technology grows. Another possibility would be to follow 'similar' pages to what a company's product produces in order to see how the interests are interrelated.
DeleteAndrew, Another question, does SAP Social Media Analytics by Netbase have any competitors? How does a company know that this is the best product when deciding on a listening/social media campaign? Loren
ReplyDeleteThere are competitors such as Sysomos and Adobe, which offer similar solutions. There are small differentiators that the customer would have to identify and see what works best for their particular situation. As always, price is also a key factor.
Deletehttp://www.sysomos.com/company/
Thanks again for the insight. I appreciate your ideas and thoughts on this subject. Final question, how would you go about applying what we learned during this post in your professional career?
ReplyDeleteGreat question, Loren! I currently don't use social media in my day-to-day tasks, but if or when I do, I would try leveraging an analysis solution to curtail my efforts where it is needed and makes sense. It would depend on things, such as; my target market, research funds, and staff capabilities. I think I could manage an above-average social media initiative down the road.
Delete