Ready, Set, Launch! Using Social Media to Improve Product and Service Launches
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The document discusses the utilization of social media to enhance product and service launches, emphasizing the importance of social listening and its strategic application in marketing. It includes insights from top performers, case studies showcasing successful product launches, and highlights the need for effective social media monitoring to drive business impact. The content is geared towards marketers aiming to optimize their strategies through social data for improved customer engagement and product development.
Ready, Set, Launch! Using Social Media to Improve Product and Service Launches
- 1. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.1 Ready, Set, Launch Using Social Media to Improve Product and Service Launches With Special Guest
- 2. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.2 Agenda 1. Benchmark Stats on Social Insights 2. What do top performers do with social data? 3. From Launch to Lift-Off: The Role of Social โข How should it be used? โข How can it save time? โข How can it cut costs and free budget for other activities? โข What skills are required? 4. Launch Case Study Discussion
- 3. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.3 Our Presenters Ian Michiels, Principal & Managing Director, Gleanster Research Prior to joining Gleanster, Ian held leadership roles at Marketsphere and Aberdeen. He is a thought leader in the subjects of marketing, social media, and the application of technology to solve core business problems. Becca Ramble - Director of Account Management, Visible Becca currently leads Visibleโs account management practice. The team works with Visible clients to define social media analytic objectives and work in the Visible platform to meet these needs.
- 4. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.4 Audience Poll Are you using social media monitoring tools today? โข Yes, for >3 years โข Yes, for 1-3 years โข Yes, for < 1 year โข No, planning on investing in them โข No, still researching
- 5. TODAYโS STATS Total survey responses: 461 PERFORMANCE BASED ALGORITHM All Respondents 2013 Social Relationship Management Survey 2014 Social Listening Survey Top Performers: Respondents that achieved Top Quartile performance in key KPIโs Everyone Else Gleanster Benchmark Stats
- 6. Stats fromTop Performers * Q4 2013 Social Relationship Management Survey, n=100 Brand Marketers, Revenue >$50M
- 7. Stats fromTop Performers * Q4 2013 Social Relationship Management Survey, n=100 Brand Marketers, Revenue >$50M
- 9. Are you maximizing your return on social listening efforts? Product Development Marketing Sales Service PROMOTION SEGMENTATION & TARGETING PRICING BRAND MONITORING REACH STRATEGY SERVICE & SUPPORT SENTIMENT PROPENSITY TO RECOMMEND LOYALTY NEW CUSTOMER ACQUISITION CUSTOMER RETENTION CROSS-SELLING UP-SELLING PROMOTION CUSTOMER COMMUNITIES MESSAGING
- 10. Are you maximizing your return on social listening efforts? Product Development Marketing Sales Service PROMOTION SEGMENTATION & TARGETING PRICING BRAND MONITORING ENGAGE INFLUENCERS STRATEGY SERVICE & SUPPORT SENTIMENT PROPENSITY TO RECOMMEND LOYALTY NEW CUSTOMER ACQUISITION CUSTOMER RETENTION CROSS-SELLING UP-SELLING PROMOTION CUSTOMER COMMUNITIES MESSAGING NEW FEATURES, EXISTING PRODUCT NEW PRODUCT FOCUS GROUPS
- 11. What we actually see fromTop Performers Product Development Marketing Sales Service PROMOTION SEGMENTATION & TARGETING PRICING BRAND MONITORING ENGAGE INFLUENCERS STRATEGY SERVICE & SUPPORT SENTIMENT PROPENSITY TO RECOMMEND LOYALTY NEW CUSTOMER ACQUISITION CUSTOMER RETENTION CROSS-SELLING UP-SELLING CUSTOMER COMMUNITIES MESSAGING NEW FEATURES, EXISTING PRODUCT NEW PRODUCT FOCUS GROUPS
- 12. Why is that? Social data Social data Social channels Customer data Existing content Social optimized content Insights derived Expertise to turn insights into strategy THAT YOU CAN CONTROL
- 13. What can marketers do today to get more out of social listening?
- 14. How is social media typically used? 80% 15%5% Yes 21% 38% 48% 50% 52% 57% 69% 71% 0% 25% 50% 75% R&D Customer Expansion Customer Retention New Customerโฆ Product Launch Sales Growth-โฆ Social Listening Brand Awareness All Respondents * Q4 2013 Social Relationship Management Survey, n=100 Brand Marketers, Revenue >$50M Social is an โactive marketing channelโ How are you using social media?
- 15. Poll ๏Have you used social media in a new product launch? ๏ฑYes, to promote the launch ๏ฑYes, to prepare for the launch ๏ฑYes, to influence the product development ๏ฑYes, to identify target audiences ๏ฑNo, plan to ๏ฑNo, no plans to
- 16. Benchmarking use of social in product launches? Have you used social media for a product launch? In what capacity? 8 out of 10,YES 89% - BRAND PROMOTION 97% - BRAND MONITORING * Q4 2013 Social Listening Survey, n=247
- 17. Other Applications ofSocial Listening 21% 38% 48% 50% 52% 57% 69% 71% 0% 25% 50% 75% R&D Customerโฆ Customerโฆ Newโฆ Product Launch Salesโฆ Social Listening Brandโฆ All Respondents One of the biggest investments / initiatives marketers will make. โข Strategic Impact to Organization โข Multi-functional Impact โข Supply-chain Ramifications โข External Partner Alignment โข Etc.
- 18. What goes into a product launch? PRICING MESSAGING AUDIENCE TARGETING FOCUS GROUPS AGENCY GEOGRAPHY PLANNING
- 19. Crossing the Social Listening Chasm Reactive Social Listening โข What happened whenโฆ โข Who said whatโฆ โข That was a great quote, we should promote itโฆ โข She looks like an influencerโฆ
- 20. Crossing the Social Listening Chasm Reactive Social Listening โข What happened whenโฆ โข Who said whatโฆ โข That was a great quote, we should promote itโฆ โข She looks like an influencerโฆ Proactive / Strategic Social Listening โข Validation of assumptions โข Testing hypothesis โข Analysis โWho Actually Buys โข How do they talk aboutโฆ IMMEDIATE ROI
- 21. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.21 Case Study Discussion
- 22. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.22 Market Research Large Beverage Company Copyright ยฉ2013 Visible Technologies, Inc. All Rights Reserved.22 Challenge Solution Results Explore new product opportunities in the Fruit and Vegetable juice blend market and launch a new product โข Analyze the market in a brand agnostic way to discover consumer perceptions โข Cross validation of learnings in traditional and social-based research โข Measure the competitive landscape such asV8 fusion to inform positioning and GTM strategy The company mined perceptions beyond brand directed conversations which helped with the launch of the their new fruit and vegetable blend product line
- 23. Pricing ๏ Test product pricing in regional locations and monitor online buzz or reviews before a national rollout. ๏ Monitor competitive products, look for clues about how customers feel about pricing. ๏ Possibly opportunities to re-think pricing for competitive reasons. Using social listening to validate pricing or researchโฆ
- 24. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.24 New Product Launch Large Technology Manufacturer Copyright ยฉ2013 Visible Technologies, Inc. All Rights Reserved.24 Challenge Solution Results Monitor reactions to the launch of the B2B product line before, during and after launch to track response to product and campaign โข UseVisible Intelligence to identify, filter and make sense out of high volume of chatter across multiple social channels โข Gather perceptions about product and competitors โข Auto-generate and export reports to share with other product and marketing teams High quality reports praised and generated interest in other departments. Initial pilot social team grew to include corporate communication, advertising, web and other business groups โWe knew there would be a lot of chatter happening around the product, and we looked to Visible Intelligence to help us both monitor and understand it.โ -Jason, Senior Advertising Manager
- 25. Targeting ๏ Social listening tools arenโt just for social, you can monitor virtually any digital channel, including location based channels. ๏ Determine the propensity for early stage adoption based on other social attributes of a target audience. Using social listening to determine regional rolloutโฆ
- 26. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.26 Marketing Optimization Lawn & Garden Product Manufacturer Copyright ยฉ2013 Visible Technologies, Inc. All Rights Reserved.26 Challenge Solution Results Identify optimal geographic distribution for a new garden product launch โข UsedVisible Intelligence to identify where individuals were experiencing issues with deer damaging their lawns and gardens โข Geo-location capability helped them identify markets for product launch as well as map specific retail locations for product distribution The new garden product launch was considered very successful. They had the right product at the right geo locations to address customer needs
- 27. Messaging ๏ Focus groups are expensive and social can be an immediate source of insight from potential buyers. ๏ Lower costs and gather insights faster.Win. Using social listening to determine messagingโฆ App used language in messaging that offended smokers and wasnโt sensitive to the challenges of quitting. Social listening testing in advance of the rollout influenced changes.
- 28. Promotion ๏ Focus groups are expensive - social offers a highly targeted and real-time source of insight from potential buyers. Using social for promotionโฆ Social Only Launch โข 90x more attendees than traditional launches. โข 40 million impressions โข Started with a list of 90 buzzwords to monitor 1 month before launch CISCO - ASR
- 29. Promotion ๏ Focus groups are expensive - social offers a highly targeted and real-time source of insight from potential buyers. Using social listening to monitor promotionโฆ ๏ Save time ๏ Cut Costs ๏ Interactive and real-time digital engagement ๏ Identify influencers / bloggers ๏ Monitor results
- 30. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.30 Complimentary Deep Dive Research Report
- 31. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.31 More Social Listening Resources Gleanster.com
- 32. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.32 Audience Q&A
- 33. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.33 Results that Deliver Business Impact DataYou CanTrust Industry Experts Leading Technology + Deeper Insights The Visible Difference
- 34. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.34 Next Steps โข Have a question comment about something in this webcast? โข Ian Michiels ian.michiels@gleanster.com โข Becca Ramble rramble@visibletechnologies.com โข Rich Miller rmiller@visibletechnologies.com โข To discuss a demo or more information, contact us at info@visibletechnologies.com, @visible on Twitter, or โDemo Requestโ on our website โข Check www.visibletechnologies.com for recordings of previous webcasts, Intelligence Reports, and more.
- 35. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.35 Appendix
- 36. Copyright ยฉ2014 Visible Technologies, Inc. All rights reserved.36 Product Development โข Crowd-source customer desires narrow down product features or specs. โข Use social listening to qualify trends and identify influencers to engage for promotion Using social listening to influence specsโฆ