It was an honor to present on Business Intelligence via Social Media Data: Insights and Recommendations at the Boussias Social Media Conference, March 22, 2011. I had a blast working on my presentation with the fabulous artist Ana Foureaux Frazao, who created Guy Kawasaki’s “Enchantment” presentation for SXSW 2011. Her description of the artistic process behind the Greece presentation is fantastic and may be found here: http://bit.ly/axzbism
Business Intelligence via Social Media Data: Insights and Recommendations – PART 1
Business Intelligence via Social Media Data: Insights and Recommendations – PART 2
SUMMARY: In all fields of business, there are varying levels of sophistication. The small business owner juggles bookkeeping, rent, vendors and customers and, if he is lucky, has time left over to take his original business plan one step further via Marketing and Sales activities. The medium and enterprise level businesses have a responsibility to analyze their markets through best-practice business intelligence and innovate. Growth means change and change involves risk, stepping from the known to unknown. The open seas that enterprise-level businesses chart require captains and admirals who can judge when and how to take such risk.
THE VALUE OF SCOUTS: New technologies aid such leaders in their future plans. The most important members of the team in this respect are the SCOUTS. In the world of social media marketing, the scouts are social intelligence providers, experts in predictive analytics, text analytics, cluster analysis and sentiment trending. It is the responsibility of these scouts to discover the VERY BEST sources of intelligence in a specific vertical or world region. As the founder of Klout says, “Targeting the few key influencers who have authority around a given topic and allowing them to tell the story. The message is then amplified up through the network to reach a large engaged audience that trusts the message sender.” It is important to note that social media monitoring tools come in all shapes and sizes with varying angles on what is and is not important.
Highlighted in an article by Brian Solis,Ray Wang writes, “Overall, on a global scale, social analytics will evolve in 2011 from ad-hoc experiments into refined information services. Enterprise-level organizations should continue with experimenting in listening services that filter out noise from the social sphere, identify trends that deliver insight, and create models that support prediction.”
REGIONAL PROVIDERS:(In the following paragraph, I mix some of my thoughts with Mr. Wang’s observations to deepen the observation). “Regionally, it is recommended to identify LOCAL providers who have a deep understanding of the local language and customs. As algorithms increase in complexity, global tools will have to adapt to these regional and cultural differences, as well as requiring greater vertical specialization. The global tools like Sysomos, while very good, will no longer be able to support in house efforts due to the volume of demand and that may effect quality. A new breed of LOCAL information brokers will aid global intel providers in delivering social analytics at a scale and specificity that will support the challenges of big data in heterogeneous systems. Expect vendors such as Sysomos, Alterian, Attensity, Buzzmetrics, Cymfony, IBM, Radian6, SAS, Scoutlabs, Telligent, and Visible to shift their business models from software vendors to information brokers.”
LOCAL ANALYSTS: Regional Business Intelligence providers with LOCAL vendors trained in Predictive Analytics, Semantic Analysis, Cluster Analysis, and active in hands-on solutions analyzing the local language are important allies/partners to these global tools. This is clearly seen upon going into the representation of the data by these global social media intelligence providers with LOCAL analysts. Refinement of the data MUST be accomplished by native speakers. It is advised that the global tools identify regional managers to (a) make sales (b) identify local highly trained analysts who speak the language natively and (c) shift their identity from a tools centered approach to human-refined intelligence provision.
MERGING OF SOCIAL INTEL AND SOCIAL ACTION TOOLS: The leaders in the field will form alliances with social action tools like Hoot Suite and Buddy Media to mutually enhance value proposition. M&A in this area is an important evolutionary step for those organizations keen to the benefit of actionable intelligence. Brands want punchy insights, smart recommendations based on these insights along with actions that may be measured.
THE BUSINESS INTEL CUSTOMER: The sophisticated customer of social monitoring intelligence wants his provider to develop insights and action-steps from the masses of data that come through a WOMMA-ethics-level tool…that is, a tool that includes total, or near, access to firehoses from “walled-gardens” like Facebook or the giant Amazonian rivers of Twitter. He then wants that provider to write up a brand booklet complete with a few neat charts and a storyline of how the brand may utilize the current economic climate for maximum growth.
LIVING INFOGRAPHICS: To go further, the Business Unit Manager of the marketing agency working with this enterprise-level customer may want the intelligence provider to produce an interactive infographic that gathers intel AND grows customer equity all at once. Great example of this is JESS3’s APTA project.
BUSINESS PLAN: In an A+ scenario, the Business Unit Manager from the agency provides the Brand Manager with a comprehensive plan that charts the growth of the brand over the coming year, its relative competitive weaknesses and advantages (SWOT style or another scenario planner) and a few preliminary creative mock-ups of the customer-facing solution. For internal business solutions, the Business Unit Manager recommends a few choice third-party vendors to come alongside the team for sCRM, a possible re-vamping of how collaboration takes place in the organization and re-vitalized, efficient HR.
IMPORTANT QUESTIONS ANSWERED: Important questions answered through social intelligence projects include:
• Buzz in broadcast and social media: what is the volume of mentions?
• General topics and impact: which news, headlines and developing stories influence my brand?
• Special topics and impact: which hidden parameters influence my brand?
• Opinion mining: do people think positively or negatively about my brand?
• Mood analysis: do people express pleasure about my brand? Are they calm/relaxed or alert?
• Seasonality and time-of-day: when do people discuss my brand and topics of interest?
• Named entities graph: who am I connected to?
• Influencer detection: who do we recommend as influencers in regards to my brand?
• Meme detection: how do ideas spread throughout the population?
• Visualization: how can I represent information by combining insights and graphics?
“ON THE FLY” COMMUNITIES: But the MOST important fruit of business intelligence derived from social media data is an on the fly community. Non-branded aggregations in Twitter of Key Influencers in the form of lists OR Twitter accounts filled with Key Influencers around a specific topic are a very powerful means to accessing a customer base quickly. TO REPEAT: Non-branded, on-the-fly Communities aggregating Key Influencers are a far better fruit of business intelligence than “snap-shot” insights. The social eco-system is fluid and Brand Managers want something of real value from BI projects that can be used RIGHT NOW. Using tools like PeopleBrowsr one may assemble such “on-the-fly” communities quickly and accurately. Check out this video of Jodee Rich, CEO and founder of PeopleBrowsr, talking about the Research.ly solution:
WITHIN THE ENTERPRISE: The happy Brand Manager gets to go to her Marketing Manager and GM and show off a plan for her brand(s) that will elevate business by a nice percentage, decrease overall internal costs, address any outstanding PR and Customer-Service related issues and foster a glowing relationship with the community in her region through a customer-centric ad/marketing campaign. And, due to the entire solution being driven through social business, she has decreased the ad spend by 60%, saving money in the process. Finally, through deeper business intelligence, the enterprise may find ways to economize and grow hitherto unseen:
The personal life deeply lived always expands into truths beyond itself. ~Anaïs Nin
One huge possibility for the individual, for the community, via social networks is embracing transparency as a road to mystery. Out beyond the one’s edge, beyond a community’s mores, there lies a possible “other” way of doing what has always been done a certain way.
I’ve been pondering “edge generators”: machines that learn one’s edges in search + content generation AND THEN suggest content + experiences to push one “over the edge” into new “unknown” territory. Edge territory. Edge territory is the location where one finds answers to the questions that remain unsolved in one’s life. Edge territory is where others live that have been where you are AND have THEN found a path to subsequent locations.
Humans want to expand, want to grow, want to deepen. And social networks are a giant example of this expansion, this growth, this deepening. TO BE CLEAR: As humans we are expanding and deepening into multiple dimensions via our social networks, our apps, and our niche communities.
Following is a very simple set of steps for discovering a community of people surrounding an issue you may be wishing to deepen within. This involves diving into the Interest Graph (Twitter) via a multitude of simple social intelligence tools.
2. BUILD A FOCUSED TWITTER ACCOUNT. The purpose of this account is to aggregate those you feel akin with and or curious about. You can then follow or track with these thinkers, fellow journeyers, and dialogue with them. Once the account is built, divide it into lists segmented to even finer degrees or shades of specificity. Use this Twitter guidebook to start off.
3. CONNECT IN THE FLESH. Through this Twitter account you will learn of conferences, venues, and in-the-flesh meeting places where this tribe you have assembled meets. Here you can take in the full experience of “your people”. Start with MeetUp, as an example.
4. RESOLVE TO CHANGE. The first three steps will change you, no doubt. But now you have the very important task of changing your everyday life to go on the journey you have created for yourself in the digital realm. There will be a single step, a single first moment, when you get how your life NEEDS to take on this new meaning, this new identity. And it’s a leap you will probably remember forever. It’s a leap into depth!
What if we saw image AS experience? One may use social intelligence tools to discover a community surrounding an image. NOW!
“It helps to regard soul as an active intelligence, forming and plotting each person’s fate. Translators use “plot” to render the ancient Greek word mythos in English. The plots that entangle our souls and draw forth our characters are the great myths. That is why we need a sense of myth and knowledge of different myths to gain insight into our epic struggles, our misalliances, and our tragedies. Myths show the imaginative structures inside our messes, and our human characters can locate themselves against the background of the characters of myth.” ~James Hillman
What if we saw the social networks as a soul-making exercise, one intended to train the human community in depth of experience? What if we saw image AS experience? What if we saw one aspect of our consciousness as follower and one as leader? And what if that leader was like a very clever Market Research Director using social intelligence gathering tools like Research.ly, Sysomos, Radian6 and the like? What if this leader in our psyche was peering into conversations within and deciphering meaning, finding insight and plotting direction?
James Hillman goes on to say, “Character is characters; our nature is a plural complexity, a multiphasic polysemous weave, a bundle, a tangle, a sleeve….I like to imagine a person’s psyche to be like a boardinghouse full of characters. The ones who show up regularly and who habitually follow the house rules may not have met other long-term residents who stay behind closed doors, or who only appear at night. An adequate theory of character must make room for character actors, for the stuntmen and animal handlers, for all the figures who play bit parts and produce unexpected acts. ”
Social monitoring tools give Market Strategists an opportunity to hear the voices within the culture and plot direction for the collective psyche. Ideally, digital engagement offers a bridge to both spiritual AND flesh encounters. Social networks like Meetup.com offer physical engagement with those who share a passion.
Imagine a person dreaming in his bed. He/she lives within a scene. The scene is distant, yet close; powerfully enwrapping the dreamer in another life, another place. We now have the ability to wake up, switch on our laptop and search the collective consciousness/sub-counsciousness using keywords in tools as simple as Google and as complicated as Radian6, Research.ly and Sysomos.
One may use social intelligence tools to discover a community surrounding an image. And within a very short amount of time, one may be with these people in the flesh, in that dream scene in the flesh. This experience, this journey, from image to flesh, from passion to experience, from my tight inner circle to the outer world, IS one of the greatest gifts social networks offer.
James Hillman writes, “The character truest to itself becomes eccentric rather than immovably centered, as Emerson defined the noble character of the hero. At the edge, the certainty of borders gives way. We are more subject to invasions, less able to mobilize defenses, less sure of who we really are, even as we may be perceived by others as a person of character. The dislocation of self from center to indefinite edge merges us more with the world, so that we can feel ‘blest by everything.’ ”
We now live in times when we can “dislocate from center” and be “blest by everything”. That’s the journey of the seeker in social networks. And no set of tools could be more effective than those that search the Interest Graph. Twitter is the Interest Graph, a place where individuals and groups have grouped themselves into lists and are sending out byte-sized messages with links to information related to niches. Jodee Rich, CEO of PeopleBrowsr, has said, “The trend I’m seeing is that the world is evolving from a social graph towards an interest graph.” Susan Etlinger, consultant at Altimeter Group, says, “I see social graphs and interest graphs converging. FOr example, people into fashion conecting online and going to events together.” Etlinger identifies here that movement I referred to earlier concerning the journey from searching online to meeting in the flesh.
When one realizes the potential of powerful social media monitoring solutions to connect one to one’s dream, the world changes dramatically.
1. JOURNAL AND MEDITATE: Spend an hour before bed journalling and meditating on what you want out of life, what you want in your career, what you desire in a relationship.
2. DREAM PREPARATION: Tell yourself prior to sleeping that you will dream about this. Put a journal and pen next to your bed.
3. DREAM RECORDING: Upon having a vivid dream and waking, write down the dream.
5. CREATIVE EXPRESSION AND FLESH CONNECTION: Create a Kickstarter creative project or Meetup flesh-group based on this research AND your own creative process.
Insight-driven action in a data-flooded age must be heart-centered. The most important segment of the customer-experience cycle is post-conversion (something was bought), pre-evangelization (the customer tells his/her friends). In that sweet spot, brands must engage the user in dialogue, be open to education BY the customer and take action based on opportunity occurring in the present.
A core list of key influencers drops one very quickly into mine-able territory for content, business connections, tools, and relationship. Useable social intelligence delivers punchy actions with targeted influencer graphs in which to carry out those actions. Chris Ramsey, EVP BizDev, Radian6, writes, “Social media is a two-way communication platform, not a broadcast platform, and it’s all about engagement and relationships.” Amber Naslund, Director of Strategy for Radian6 writes, “Social media marketing is contextually appropriate, just-in-time marketing where you find a chance to engage authentically, and you take it.”
Companies ought to consider the benefit of having in-house curators and/or relationships with 3rd party curators of vertical-specific content. In this way, they will own verticals and niches and be seen as authorities in both the internal development AND in listening to the customer of this niche. Those brands who rule niches through curation will be seen as thought-leaders. And the only way to be a true thought-leader is to spend plenty of time listening. We derive powerful insights and even more powerful action by listening.
Klout CEO and co-founder Joe Fernandez writes, “…target the few key influencers who have authority around a given topic and allow them to tell the story. The message is then amplified up through the network to reach a large engaged audience that trusts the message sender. We’ve basically flipped the funnel upside down.” The weaving of reflection AND action within such an approach is masterful and demonstrates the ideal ethos of actionable intelligence. Creativity around one conversation, one circle of influencers, one city can lead to immense opportunities. Product-centric thinkers are second to customer-centric action-agents. It is simply more practical to be relational vs. transactional in today’s business climate.
We live in times when independent operatives, moving swift and fast, have become more successful than giant entities, moving like cruise ships. Such operatives have an idea, angel-fund the idea and balloon the idea into a global community. Or such operatives provide specialized deliverables like comprehensive social intelligence reports (Business Intelligence), Community Manager training/supervision and Social-Action tools training.
