analytics

Panel titled:  New Market Research Vs. Old Man Nielsen

Featuring:  (listed as seated) Michael Lambie, Dave McClure, Jim Schroer, Daniel Neely

My second live-blog attempt of the festival (only, is it really a live-blog if you take the notes real time and clean up the formatting and post few hours later? lol)

Neely:  Data will be created in next 2 years. Biz still need to attract and keep customers, make sure they’re relevant in a customer-driven world, rather than make themselves relevant. How do we take their (consumer) messages and put them inside our messages. Lots of jargon and overuse of language.  Is a customer engaged? Impressions is important. It matters if they talk about it, if someone is saying something about your product or service.  Other data besides quantitative exists. Lots of free data exists. Then there’s insights, actionable stuff. The new valuable insights cost a little more, ultimately the holy grail.  Now have a massive set of info, needs to have it simplified. How do we make SM insights actionable? Data to insight to valuable insight to actionable insight.  Actionable insights: adding anthropological perspective to the numbers.  Measurement:  Sample vs. comprehensive

Michael Lambie: Use primary data, 360 degree view of consumers; fuse it with measurement data; ethnogrophay studies, ad exposure, media consumption, neuro science, etc, eye tracking. Buzz Metrics is on the online side, monitoring social stuff. Segment customers more by following them on the Web and engaging them.

Jim Schroer: Former CMO for Ford worldwide, Chrysler. Earthquake is happening in the world of marketing. Most metics today are based on :30 TV–antiquated system. Actionability by Neilesen by consumers . Used SuperBowl ad. The SM buzz for Coke, HP, etc. dropped, despite 3 mill per spot spend. Teleaflora is the only marketer than won 14x 1,400% on their 3 million (not Coke, not Budweiser). And could track positive or negative.  Wants to challenge the economy that’s based on the TV rating system which is based on exposure to instead change to monitor both positive and negative word of mouth. Is SM and the buzz a good proxy for Word of Mouth? If so, it should have greater effect in how marketing dollars is allocated.

Neely: Language/translation plays a part. Must understand beyond the interactions; can’t only think about what happens about posted content. [network insights] What about 85% rating, sharing, linking, inviting, tagging–that’s what his company encourages us to look at. Many agenacies hide behind the way they used to do things. How do we affect ad spend? What type of events do we host? Where do we host them?

PR is about telling a story, the number of impressions. How do you accurately measure the vocal minority?

What is the influence of that minority? Some have influence, others don’t . Monitor twitter, FB, Google alerts.  Do the marketer’s equivalent of the Q score, the high highs by the low lows. You want to have about 10% neg, about 20% high.  Being in the middle sucks; you want to either be loved or hated.

Use Your Voice, Get Satisfaction, Yelp, other tools. Twitter can be sued for some survey stuff. Whether or not your brand uses it, the community is in fact using it so you’ll be there anyway.  Not engaging with your community doesn’t mean the sentiment isn’t going to be there.  Use Flickr and YT, Twitter–the same way you use Google Alerts.

Shrorer:  How move from listening to acting? nOT ABOUT exposures anymore, but about the intensity of their feelings. Dropped media spend by 200 mill in 2001, BBDO fought tooth and nail. It’s hard to move the money out of things (channels) consumers and dealers are used to into other channels.

Neely:  Visible Technologies–has a cool way to respond.  Hitwise is a good competitive analysis tool, as is Biz 360.

Tap into Biz Intelligence tools companies already have in place, another data layer.

SEM is important. Localization must be factored in.

Lambie:  Where was reduced spend in offline, and then turned into more specific targeted spend into online?

Hot Fudge Rule–a lot less interested in the tonnage than about the vanilla. Too much creative is just bland or overstimulating. Interactions online up 700% the Ed MacMahan super bowl spot. Do something that people will talk about online, and know that. Sometimes ugly can perform better than pretty.  Mazda’s Zoom Zoom, 159 companies. But gets one of the highest annoyance factors–its memorable, whether its liked or not.

Give people something interesting to talk about, forget IAB standard. Must aim better and stop pissing most away.

Golden nuggets of wisdom:

1) Focus groups and surveys have their place, but new gold standards will arise. STay plugged in to your consumers.

2) Seat up your search words on Technorati, Google, .etc. Then move from data into insight. At that point, will have to hire someone else to do it for you.

3) Word of Net is a proxy for Word of Mouth

Must also get samples of non-online users. Must assume word of net is the same as what is typed on twitter.

4) Social and search balance. SEM test concepts, then moving that. Must use paid search to test landing page copy.

Listen to the data.  Don’t just search for what you’re hoping to find/look for, be open to what you find and explore the data.

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