Know the "WHY" Behind Consumer Purchase Decisions
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The document discusses the importance of understanding consumer purchase behavior through social analytics, utilizing a combination of qualitative and quantitative data. It emphasizes the necessity of conversation intelligence to gain insights into consumer sentiments and motivations, enhancing strategic decision-making for brands. The content highlights how brands can leverage social media intelligence to unlock growth and create differentiated customer experiences.
Know the "WHY" Behind Consumer Purchase Decisions
- 1. KNOW THE “WHY” BEHIND CONSUMER PURCHASE DECISIONS USING SOCIAL ANALYTICS @NetBase
- 2. ENTERPRISE SCALE SOCIAL MEDIA ANALYTICS THE WORLD’S FASTEST AND MOST-ACCURATE PLATFORM USED BY SOCIALLY-POWERED BRANDS EVERYWHERE @NetBase
- 3. Carrie Stern Senior Analyst, Social Media dp @DirectPartners Anna Startseva Product Marketing NetBase @AnnaStartse @NetBase Welcome Mindy Cultra Managing Director Halverson Group @HalversonGroup
- 4. ABOUT DP ‣ Most experience in bringing Over-the-Top networks to market ‣ Digital expertise w/ metrics-driven approach ‣ Media designed for conversion | @directpartners
- 5. Our Background Halverson Group is a strategic research agency commi<ed to helping clients and their agencies iden=fy where to play and how to win. We unlock growth and compe==ve advantage by uncovering and quan=fying insights into people’s lives and the behaviors, beliefs, aFtudes, situa=ons, and cultures that influence their choices. For nearly 20 years, we have armed execu=ves, marketers, strategists, innovators, and agency partners with the consumer and business intelligence they need to more confidently make bold strategic decisions. HALVERSON GROUP | @HalversonGroup
- 6. @NetBase Humanize target consumer with conversation intelligence1 2 3 Agenda 4 Unlock the “WHY” behind consumer purchase behavior Hear how B2C brands use social to drive business value Gain best practices with social media intelligence
- 7. AGE OF ! VALUE Market positioning identifier AGE OF ! YOU! Valuable business assets Deliver satisfying and differentiated experiences Recognize the human in the data to satisfy the “Mecosystem” Source: Interbrand’s 15th annual Best Global Brands Report, Oct 2014. The Evolution of Brand Value AGE OF IDENTITY! AGE OF EXPERIENCE "! @NetBase
- 8. @NetBase Buy 3 items from online flash sale Order from Starbucks app 1 latte Retweet 1 United ad for points Watch Netflix from 8-10 pm Check FB 9 times Run with your Apple watch for 20 mins Swipe right on Tinder 2 times Play video games for 2 hours Post 1 new video on FB Check email 8 times Post 2 reviews on Yelp Check your LinkedIn once More Data is not Always Better Post 1 selfie on Instagram
- 9. @NetBase Content Created Daily on Social 1B 80M 400M311M 86K HRS 38M
- 10. 1st gen OBSERVE! SOCIAL! ! ! KEYWORD TEXT ANALYTICS Looks for keywords Highly inaccurate @NetBase Social Business Evolution
- 11. 1st gen OBSERVE! SOCIAL! ! 2nd gen MEASURE PERFORMANCE! ! KEYWORD TEXT ANALYTICS Looks for keywords Highly inaccurate MACHINE LEARNING Requires training Can’t discover new insights @NetBase Social Business Evolution
- 12. 1st gen OBSERVE! SOCIAL! ! 2nd gen MEASURE PERFORMANCE! ! 3rd gen DELIVER BIZ VALUE! ! KEYWORD TEXT ANALYTICS Looks for keywords Highly inaccurate MACHINE LEARNING Requires training Can’t discover new insights PATENTED LANGUAGE PROCESSING Surfaces emotions, behaviors @NetBase Social Business Evolution
- 13. @NetBase Humanize target consumer with conversation intelligence1 2 3 Agenda 4 Unlock the WHY behind consumer purchase behavior Hear how B2C brands use social to drive business value Best practices with social media intelligence
- 14. Social Analy/cs is quan=ta=ve data | @directpartners
- 15. It tracks the performance of topics and themes via common social metrics: -‐ Sen=ment (share, volume) -‐ Men=ons over =me (daily, weekly, monthly) -‐ Engagement (retweets, replies, reposts, shares, likes) -‐ Share of voice | @directpartners
- 16. While these are important signals that can help focus our research, they beg the ques=on that Conversa/on Intelligence is uniquely posi=oned to answer | @directpartners
- 18. Conversa/on Intelligence is not quan=ta=ve data | @directpartners
- 19. it’s qualita=ve data on a quan=ta=ve scale | @directpartners
- 20. Tradi=onally, we use surveys and focus groups to understand the target. Downsides: -‐ Missing natural, honest opinions -‐ Unable to mine for other interests -‐ Biases in focus groups & survey responses -‐ Individual interpreta=ons of ques=ons -‐ Not in consumer language | @directpartners
- 21. Conversa=on intelligence patches the holes by adding the human element -‐ Real-‐=me, unsolicited conversa=ons between people -‐ Candid view into the consumer mindset -‐ Express emo=on (posi=ve & nega=ve) -‐ Imply (or directly state) a preference -‐ Can surface unexpected associa=ons | @directpartners
- 22. Here are a few examples: | @directpartners
- 23. Understand brand conversa=on 1. Gauge campaign success 2. Generate & test new ideas 3. Reveal top themes & audience members 4. Iden=fy unmet needs & solve issues 5. Gauge severity of nega=ve issues | @directpartners
- 24. Example: Weigh=ng Sen=ment Sentiment & Passion ! Positive – 21%! Passion Intensity – 45! Negative – 12%! Passion Intensity – 87 ! Neutral - 67%! Passion Intensity – 0 ! Tui=on & expenses Phone calls & solicita=on Excited @ acceptance Student work & success | @directpartners
- 25. LOVE LIKE HATE DISLIKE Net Sen=ment Passion Intensity Taking it further with Passion • Brands • Products • Campaigns • Promo=ons | @directpartners
- 26. Determine what drives the category -‐ Conversa=on volume is high -‐ Mainly consumer to consumer -‐ Brands are (kind of) addressing it -‐ Few brands are being proac=ve Other Talk 75% Seeking Help 25% 1MM+ Conversations! | @directpartners
- 27. Example: Breaking the language barrier | @directpartners
- 28. @NetBase “Humanize” target consumer with conversation intelligence1 2 3 Agenda 4 Unlock the WHY behind consumer purchase behavior Hear how B2C brands use social to drive business value Best practices with social media intelligence
- 29. Blending Qualita=ve & Quan=ta=ve Approaches Human truth Compe==ve intelligence Ac=onable insight Observa=onal research Social media analy=cs Stakeholder interviews Transac=on level datasets Innova=ve survey techniques Video analy=cs HALVERSON GROUP | @HalversonGroup
- 30. A Prac=cal Example – The Social & Mobile Gaming Category HALVERSON GROUP | @HalversonGroup
- 31. What’s needed to A deeper understanding of the role a product or service plays, and how to connect with consumers The Ask • How do we grow both the volume of players for our social/ mobile game, and the proportion of payers (those that make in- app purchases)? • Where is the competition most fierce, and where are there whitespaces of unmet or underserved demand? • What are the underlying factors driving players to choose one game over another, and how can we use this knowledge to our competitive advantage? HALVERSON GROUP | @HalversonGroup
- 32. Social Analy=cs provides a wealth of insight into the situa=ons, moods, and mo=ves present in real consumer conversa=on HALVERSON GROUP | @HalversonGroup
- 33. Married with our own research into consumer psychology, we developed a comprehensive ba<ery of mo=va=onal factors for quan=ta=ve analysis Do something exci=ng or adventurous -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Explore or discover new things -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Push my luck -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Try my luck -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Express myself crea=vely -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Have a moment for myself -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Relax or relieve stress -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Be playful or act like a kid again -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Achieve my goals -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Live vicariously through a character or a story -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Simulate a real-‐life seFng -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Avoid feeling alone -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Avoid the real work and its problems -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Zone out -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Exercise my brain -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Recharge or renew myself -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Get in the zone -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Avoid boredom -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ Connect with others Compete with others Feed a habit or an addic=on -‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐-‐ HALVERSON GROUP | @HalversonGroup
- 34. Active/ Connected Passive/ Disconnected Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 35. Active/ Connected Passive/ Disconnected Emotionally Charged Connected CHANCE & RISK Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 36. Active/ Connected Passive/ Disconnected Experience Achievement Emotionally Charged Connected CHANCE & RISK Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 37. Active/ Connected Passive/ Disconnected Experience Achievement ANTICIPATE THE RUSH SPONTANEOUS & PLAYFUL RECHARGE & RENEW Emotionally Charged Connected CHANCE & RISK Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 38. Active/ Connected Passive/ Disconnected Experience Achievement ANTICIPATE THE RUSH SPONTANEOUS & PLAYFUL RECHARGE & RENEW Emotionally Charged Connected CHANCE & RISK ACHIEVE & ADVANCE PRACTICE & PERFECT FUEL A HABIT Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 39. Active/ Connected Passive/ Disconnected Experience Achievement ANTICIPATE THE RUSH SPONTANEOUS & PLAYFUL RECHARGE & RENEW Emotionally Charged Connected CHANCE & RISK ACHIEVE & ADVANCE PRACTICE & PERFECT FUEL A HABIT CONNECT & COMPETE Virtual Connection Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 40. Active/ Connected Passive/ Disconnected Experience Achievement ANTICIPATE THE RUSH SPONTANEOUS & PLAYFUL RECHARGE & RENEW Emotionally Charged Connected CHANCE & RISK ACHIEVE & ADVANCE PRACTICE & PERFECT FUEL A HABIT CONNECT & COMPETE Virtual Connection LIVE VICARIOUSLY EXPRESS & IMPRESS Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 41. Active/ Connected Passive/ Disconnected Experience Achievement ANTICIPATE THE RUSH SPONTANEOUS & PLAYFUL RECHARGE & RENEW Emotionally Charged Connected CHANCE & RISK ACHIEVE & ADVANCE PRACTICE & PERFECT FUEL A HABIT CONNECT & COMPETE Virtual Connection LIVE VICARIOUSLY EXPRESS & IMPRESS Unplug PASS THE TIME Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 42. Active/ Connected Passive/ Disconnected Experience Achievement ANTICIPATE THE RUSH SPONTANEOUS & PLAYFUL RECHARGE & RENEW Emotionally Charged Connected CHANCE & RISK ACHIEVE & ADVANCE PRACTICE & PERFECT FUEL A HABIT CONNECT & COMPETE Virtual Connection LIVE VICARIOUSLY EXPRESS & IMPRESS Unplug PASS THE TIME RELAX & RELIEVE ESCAPE & ZONE OUT Through a process of mul=variate analysis, 62 discrete mo=ve statements were factored down to 8 primary mo=va=onal territories HALVERSON GROUP | @HalversonGroup
- 43. Mo=ve Map (Role of the Game) We used correspondence analysis to map the 62 individual mo=ves and found that the mo=ves for game play align themselves around three key dimensions. The Pulse The Par=cipa=on The Reward Tranquility Excitement Passive Ac/ve Instant Immersive HALVERSON GROUP | @HalversonGroup
- 44. Revealing 8 mo=va=onal spaces or ‘jobs to be done’ for social and mobile games EXCITEMENT TRANQUILITY PASSIVE ACTIVE INSTANT IMMERSIVE Immerse & Advance Lost in a Zone Relax for a Moment Connect & Express Practice & Perfect Uplift & Feel Good Capture a Thrill Simulate a Vice EXCITEMENT TRANQUILITY PASSIVE ACTIVE HALVERSON GROUP | @HalversonGroup
- 45. MYVEGAS SLOTS SPIDER SOLITAIRE ZYNGA POKER Revealing 8 mo=va=onal spaces or ‘jobs to be done’ for social and mobile games EXCITEME NT TRANQUILITY PASSIVE ACTIVE INSTANT IMMERSIVE Immerse & Advance Lost in a Zone Relax for a Moment Connect & Express Practice & Perfect Uplift & Feel Good Capture a Thrill Simulate a Vice CANDY CRUSH CLASH OF CLANS MONOPOLY TRIVIA CRACK EXCITEMENT TRANQUILITY PASSIVE ACTIVE HALVERSON GROUP | @HalversonGroup
- 46. The result is a three-‐ dimensional representa=on of the Jobs To Be Done within the en=re category of mobile & social gaming ** Correspondence analyses pinpoint the exact posi=on of each underlying mo=ve as well as each mobile or social game HALVERSON GROUP IMMERSIVE INSTANT HALVERSON GROUP | @HalversonGroup
- 47. Halverson Group sized both the volume of players, and the total market opportunity by quan=fying the value of those players based upon their propensity to pay. HALVERSON GROUP HALVERSON GROUP | @HalversonGroup IMMERSIVE INSTANT
- 48. What’s needed to A deeper understanding of the role a product or service plays, and how to connect with consumers This process of using human-‐centered data science to quan=fy WHY consumers choose the games that they do addressed our clients core business challenges, ar=cula=ng both where to play and how to win, in their industry. HALVERSON GROUP | @HalversonGroup
- 49. @NetBase “Humanize” target consumer with conversation intelligence1 2 3 Agenda 4 Unlock the WHY behind consumer purchase behavior Hear how B2C brands use social to drive business value Best practices with social media intelligence
- 50. The leading US wireless network uses NetBase to identify customer perception of care resolutions and predict customer switching behavior. @NetBase Understand why people switch from competitive providers Predict customer churn – a metric that’s reported to the board Prove success of social care team & focus on strategy that generates retention and growth A Wireless Network Attracts Customers Switching from Competitors
- 51. @NetBase Understand Reasons for Switching Behavior • Understood why customers were switching from competitors to the network and vice versa • Tracked switching conversations over time to confirm that switching from provider to other networks was decreasing • As a result of company policies & social care, switching went down from 12K mentions to 3.5K mentions
- 52. @NetBase Predict Customer Churn • Tracked sentiment of people switching FROM competitors TO the Network provider • Sentiment rations lined up with financial metrics – 10x vs. Competitor 1 and 4x vs. Competitor 2 • Understood the WHY behind switching: s.a. celebrity endorsements, improvement in network coverage, dissatisfaction with competitors Quarterly Switching Net Sentiment 0 10 20 30 40 50 60 Brand 1 Brand 2 Brand 3 Compe=tor Client
- 53. @NetBase Prove Success of Customer Care Team & Strategy • Analyzed the segment of people who used customer care • Client sentiment went back up after interaction with customer care team, showing clients were satisfied and WHY • Sentiment for competitors was lower and went back down after interaction with customer care, showing those people were dissatisfied and WHY
- 54. @NetBase “Humanize” target consumer with conversation intelligence1 2 3 Agenda 4 Unlock the WHY behind consumer purchase behavior Hear how B2C brands use social to drive business value Best practices with social media intelligence
- 55. Gain the full knowledge of tools & features to improve the data set.1 2 3 Have an idea of what you’re looking for from the outset, but stay flexible with data. Know the category you're focusing on, and therefore, who your data represents. 4 5 @NetBase Think through the best purpose of social data in the given situation. It can play various roles in the research process. Consider segmenting your audience to understand what drives each group. Tips
- 56. ENTERPRISE SCALE SOCIAL MEDIA ANALYTICS THE WORLD’S FASTEST AND MOST-ACCURATE PLATFORM USED BY SOCIALLY-POWERED BRANDS EVERYWHERE Learn more at NetBase.com | call 855-762-6764