Marketing Research
Follow
Find
2.2K views | +0 today
 
Suggested by Alexandra Pappas
onto Marketing Research
Scoop.it!

Net-a-porter Group Launches Social Network

Net-a-porter Group Launches Social Network | Marketing Research | Scoop.it

This article exhibits the introduction of  “The Netbook”, an application that will promote the creation of a social community of the most loyal and prestige followers of the Net-A-Porter group. The Netbook is a virtual diary of the user’s favourite pieces that they wish to acquire one day. Similar to the online pin board, Pinterest, they will be able to collect pieces that they love, through a community built of fashion savvy followers selected people by the Net-A-Porter team. Eventually, users will be able to construct a profile and develop a network of those who share an appreciation for the level of luxury that the Net-A-Porter brand exerts.

 

This application will encompass all levers of social media that are currently integrated on the Net-A-Porter site including, the 2 online e-shops for both men and women (Net-A-Porter and Mr. Porter), along with Net-A-Porter Live which showcases a live, international stream of what shoppers around the world are purchasing off the site and what products they are adding to their wish lists.

 

All elements which Net-A-Porter values most including social media, fashion and a shopping community, will be enhanced with The Netbook and strategically position them within the market.  This tool will allow the Net-A-Porter team to monitor the online shopping community by tracking which products this selected group is interested in as well as what pieces they choose as compliments to that outfit. In addition, it allows them to analyze who is interacting and identify any correlation between genders, social roles and cultures. Lastly, they will be able to track real-time purchases trending internationally, developing a competitive advantage for the brand in the global fashion market place.

 

more...
No comment yet.
Marketing Research
Your new post is loading...
Your new post is loading...
Scooped by Joachim Scholz, PhD
Scoop.it!

Inside Gatorade’s Social Media Command Center

Inside Gatorade’s Social Media Command Center | Marketing Research | Scoop.it
In the realm of marketing, Gatorade is probably best known for splashy commercials featuring some of the world’s most famous athletes. However, a new effort behind the scenes of...
Joachim Scholz, PhD's insight:

This interview details Gatorade's "Mission Control Center" that is used to listen, create dialogue and measure the effectiveness of campaigns. Mission Control influences marketing communications, for example by providing Gatorade followers with a full version of a song used in a commercial after it has been heavily discussed in social media. 

 

The video in this article provides a nice overview, and it is worth pausing it at 55 seconds to see what metrics Gatorade monitors: Beside insights related to their own brand (online discussions, social media outreach, brand attitudes), Gatorade also monitors the sports landscape. This points to the foundational insights that it is not enough to only consider your own brand, but to be closely connected to broader social trends and events. 

 

Additionally, Gatorade might want to track weather events, such as heat waves, for finding additional opportunities to engage consumers. Sending a coupon to an (influential) twitter user who complains about his AC breaking down in the middle of a heat wave would be a great consumer engagement; however, it also demonstrates that the instant interactions in social media might be most beneficial when consumers have instant access to a company’s goods.

more...
Joachim Scholz, PhD's comment, September 20, 2013 7:48 PM
Comm332: This would be a 5 point post. Many of my other posts would not warrant five points (I am a bad student), so be sure to use the right post as benchmarks. See also Alba's second post about How Social Data Influenced Hyatt...
Joachim Scholz, PhD's comment, September 20, 2013 7:49 PM
and my comment to it
Scooped by Joachim Scholz, PhD
Scoop.it!

Top 10 Free Social Media Monitoring Tools - Brandwatch

Top 10 Free Social Media Monitoring Tools - Brandwatch | Marketing Research | Scoop.it
The key to making the most of social media is listening to what your audience has to say about you, analysing the data and, finally, reaching social media business intelligence; using all these insights to know your customers better and … Continued
Joachim Scholz, PhD's insight:

Many of these items on the list you might already know, but some others were even new for me. Check out these 10 free apps for social listening and social media management. Some new one's I will check out later: Twazzup, Addictomatic, and IceRocket

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

Social Media Monitoring Tools Comparison Guide: 2012 Edition

Social Media Monitoring Tools Comparison Guide: 2012 Edition | Marketing Research | Scoop.it
Review of popular social media monitoring tools, including a free comparison-chart PDF download that offers a side-by-side look at features and pricing.
Joachim Scholz, PhD's insight:

This post compares a number of social listening services with each other, so that companies can narrow down their options and decide what service provider is the best for them.

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

LEGO turned itself around by analyzing overbearing parents

LEGO turned itself around by analyzing overbearing parents | Marketing Research | Scoop.it
After decades of growth and innovation—in 2000, the company was the fifth-largest toy maker in the world—LEGO hit a major slump. In January 2004, it announced a huge deficit. It was, by its own accounts, bleeding cash to the tune of $1 million a day. Owner and CEO Kjeld Kirk Kristiansen, grandson of founder Ole...
Joachim Scholz, PhD's insight:

This is an indepth description of how LEGO sent out ethnographic researchers to turn around their 1 Million Dollar of Losses Per Day problem. Through observation and interviews with the kids, the LEGO researchers uncovered the building blocks (yeah!) of developing LEGO products that will allow kids to find their freedom in a supervised childhood and to acquire skills that provide them with social capital and status.

 

Here is a core finding of the study:

 

"These and other findings led the researchers to identify the key patterns: children play to get oxygen, to understand hierarchy, to achieve mastery at a skill, and to socialize. The patterns were simplified into four categories: under the radar, hierarchy, mastery, and social play."

more...
Bernardo Figueiredo's curator insight, April 5, 6:19 AM

Great example of anthropological work helping firms to understand consumers and get out of the red.

Scooped by Joachim Scholz, PhD
Scoop.it!

Tech Time Warp of the Week: The Horrifying Apple Super Bowl Ad That Time Forgot, 1985 | Wired Enterprise | Wired.com

Tech Time Warp of the Week: The Horrifying Apple Super Bowl Ad That Time Forgot, 1985 | Wired Enterprise | Wired.com | Marketing Research | Scoop.it
A year after the debut of the Mac, Steve Jobs and company ran a TV ad called Lemmings. The only trouble is that the ad actually turned people off, not on — and the product it pitched wouldn’t be ready for years.
Joachim Scholz, PhD's insight:

This is a great example of how important it is to not over-promise in marketing communications. Apple, carried by its success of the Macintosh, ran a Super Bowl commercial in 1985 about their new Mac Office - combining Macintoshs with a laser printer and a file server to bring about the office of the future.

 

From a communications and strategic perspective, this is another interesting example of positioning your company against an adversary company (IBM in this case), similar to how the famous 1984 commercial did. From a general marketing perspective, however, this is a great example of how to gain customer relationships, and how to loose them. Apple did the latter, since the file server - the heart of the new Mac Office - wasn't ready to ship until two years later.

more...
No comment yet.
Rescooped by Joachim Scholz, PhD from Marketing in Motion
Scoop.it!

Why Google paid $3.2 billion for thermostat startup Nest

Why Google paid $3.2 billion for thermostat startup Nest | Marketing Research | Scoop.it

“Google is moving into your home”

 

Google has recently announced that it was acquiring Nest, company that makes smart smoke alarms and thermostats. Google’s acquisition of Nest showed their interest for emerging market of “connected-home”. The idea behind the connected home is to connect all appliances to the internet so that they can be controlled from afar using either mobile devices or through internet. Google wants to make a bigger presence in the home by introducing their own line of digital appliances and their start point is smart thermostat and smoke detector.

 

You might be thinking what does connected-home has to do with marketing; for advertising companies such as Google, connected-devices can help companies gather better information about how consumers interact with household appliances. By using the data about people’s habits while they are at home, companies would be able to make better targeted ads. This is a common online marketing practice, where marketers track people’s online behaviours to develop and deliver specific ads based on their behaviours; however, this was only limited to people’s internet behaviour; now, by using connected-devices, marketing companies can virtually track users’ every move from how they use TV, phone, and even the room temperature. Gaining insights about customers is crucial in marketing. Up until now collecting data was expensive and timely; however, with connected-devices, companies can collect better data at lower cost in less time. Data collected by connected-devices can help marketing companies build better customer relationship management (CRM) so that companies can better pinpoint and target customers more effectively.  

 

To sum up, connected-devices can be a creative and innovative way to collect consumer insights that can help marketers better understand consumer's behaviour and habits, which can lead to developing a better ads that can attract and encouraging consumers to make the purchase.

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

The Internet of Soda: Why Coca-Cola Has Stockpiled 16 Million Network IDs | Wired Enterprise | Wired.com

The Internet of Soda: Why Coca-Cola Has Stockpiled 16 Million Network IDs | Wired Enterprise | Wired.com | Marketing Research | Scoop.it
Many people were surprised to learn this week that Coca-Cola controls 16 million network IDs.
Joachim Scholz, PhD's insight:

Data collection becomes automatic with the Internet of Things: By connecting vending machines (the ones where you can mix your own soda flavour) with the internet, Coca-Cola gains valuable insights into consumers' tastes and responses to display design. Smart vending machines, indeed.

 

From the article:

 

"the Freestyle machines and the smart vending machines also open a new frontier in collecting real-time data about customer behavior. Coca-Cola could greatly simplify logistics, as Businessweek points out, by making it possible to know when to restock a machine and how much inventory each one needs, without having to send a truck to each one first.

 

That only scratches the surface, Matherly says. Because the machines use digital displays, Coca-Cola could do the same type of A/B testing that marketers and political campaigners do on websites and advertisements. For example, the company could determine which arrangements of drinks lead to the most sales, and it could customize the displays on each individual machine depending on what works best for its customers.'

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

DataSift: A soon-to-be Big Social Data Powerhouse?

DataSift: A soon-to-be Big Social Data Powerhouse? | Marketing Research | Scoop.it
DataSift offers a powerful cloud platform for extracting value from social data.
Joachim Scholz, PhD's insight:

DataSift might well become one of the top dogs in providing social listening services. They have access to all tweets sent worldwide (Twitter's "firehose", which the birds guard fiercely) and have partnered up with wordpress, tumbler, google, flickr, and so many more to bring together all (well, most) of the web's social data for social listening services such as semantic analysis, link analysis, audience demographics, and more.

 

It is expensive and I haven't tried it, but I am surely interested. Hey Datasift, I know you will listen to this, so why don't you throw a social media prof a bone here :)

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

Focus Group Testing Ban (and some better alternatives)

Focus Group Testing Ban (and some better alternatives) | Marketing Research | Scoop.it
Thinking of doing a focus group? Focus group testing turns out to be a very poor tool for consumer insight. Here's why, and some better alternatives.
Joachim Scholz, PhD's insight:

It is no secret that I am no big fan of focus group. This article does a really good job in listing some points why: Focus groups are prone to social bias and do not deliver findings that are giving you any deep insights. Focus groups are conducted in an artificial environment and emphasize rational decision making far more than you will see it happening "in the wild". Thus, focus groups are more like a less stringent survey done in a group, which is a very uncomfortable and dangerous hybrid between quantitative and qualitative methods. 

 

Instead, you might want to create deep consumer insights through long interviews or persona modeling, or get a better understanding of how consumers act through observational methods.

 

Read the full article for a case study that tells you how persona modelling fared in comparison to focus group insights.

more...
Martin (Marty) Smith's curator insight, December 4, 2013 11:31 PM

Agree with we've reached the point of diminishing return on focus group testing. Here are some excellent and better alternatives. 

Suggested by Judy To
Scoop.it!

Target Creates a Community: #PhillipLimForTarget

Target Creates a Community: #PhillipLimForTarget | Marketing Research | Scoop.it

This article sheds light on how Target uses qualitative consumer insights from Twitter to ensure the successful delivery of its highly anticipated diffusion line with high-end designer Phillip Lim. 

 

Through monitoring tweets, it was revealed that customers wanted affordable versions of signature designer pieces, rather than unrelated products plastered with a designer’s emblem.  Using this insight, Target was able to form the right alliance with the right designer to deliver products that its consumers had expressed the most excitement for.  In doing so, Target was able to avoid a situation similar to its past collaboration with Neiman Marcus, wherein the collection sat on shelves for months before being discounted by as much as 70%. 

 

Target also managed to address complaints regarding heavy online traffic during its previous collaborations, and thus increased server capacity and staggered the release of certain products on its website this time around.  As a result of these combined efforts, the Phillip Lim line was a huge success and sold out within days.

 

Additionally, Target may want to monitor tweets quantitatively in order to render more accurate impressions, as the review of a few may not accurately represent its entire consumer base as a whole.

more...
Businessopportunites's comment, October 24, 2013 8:34 AM
Dt Communicaions offers new business guide in china. http://www.youtube.com/user/DTcommunications
Businessopportunites's comment, October 24, 2013 8:34 AM
Dt Communicaions offers new business guide in china. http://www.youtube.com/user/DTcommunications
Suggested by Yongku Jung
Scoop.it!

How Chrysler's Francois Scored Marketing Gold In Will Ferrell

How Chrysler's Francois Scored Marketing Gold In Will Ferrell | Marketing Research | Scoop.it

"Olivier Francois is a Parisian working for an Italian company, but he understands American popular culture better than most U.S.-born marketers" -Forbes

As a CMO of Chrysler and Fiat, Olivier recently executed a successful marketing plan to capture attention from its consumers. In order to do so, Olivier turned towards a more traditional form of marketing. According to the article, Oliver was able to successfully launch the campaign through celebrity endorsements and correct product placement. Through associating the product with Anchorman 2 and Grand Theft Auto IV, Chrysler and Fiat were able to capture the audience’s attention and create a viral campaign.

This article was significant in that, Oliver Francois, who is a "foreigner", actually understood the American culture better than other marketers. Through thorough analysis of the ethnography of the American population, Oliver was able to attract the majority of the population, increase the exposure of the brand within the culture, and finally increase customers. Most problems associated with celebrity endorsement and product placement is the cost; however, in this article, we can conclude that when implemented correctly, the benefits of product placement and celebrity endorsement outweigh the cost of the strategy.

more...
No comment yet.
Suggested by Lourdes Vela
Scoop.it!

Politics and Social World

The great development that the social media have suffered during the past decade has reached and influenced the advance of certain kind of human relationships and activities, that have been characterized along the history for have been developed on a specific and unique way, politics. This article try to analyze the result of a research made to figure out some of the asserts and speculations that bound the social media influence in politics.  

The social media appear in our political society as a new way of participation in the political process. However, as it could be thought, this recent tools, are not a substitute of the classical mechanism available for the citizen. They constitute a new variable, whose power and influence must be taken into account in the entire political process. It is not configured by the interaction of a unique element. It is product of the convergence of the adoption made by the political class, as we can see at the politicians´s twitter, that use the social media as a way to get closer to their voters, with  the feedback and initiatives impulse by the citizens.

more...
No comment yet.
Suggested by Alexandra Pappas
Scoop.it!

Net-a-porter Group Launches Social Network

Net-a-porter Group Launches Social Network | Marketing Research | Scoop.it

This article exhibits the introduction of  “The Netbook”, an application that will promote the creation of a social community of the most loyal and prestige followers of the Net-A-Porter group. The Netbook is a virtual diary of the user’s favourite pieces that they wish to acquire one day. Similar to the online pin board, Pinterest, they will be able to collect pieces that they love, through a community built of fashion savvy followers selected people by the Net-A-Porter team. Eventually, users will be able to construct a profile and develop a network of those who share an appreciation for the level of luxury that the Net-A-Porter brand exerts.

 

This application will encompass all levers of social media that are currently integrated on the Net-A-Porter site including, the 2 online e-shops for both men and women (Net-A-Porter and Mr. Porter), along with Net-A-Porter Live which showcases a live, international stream of what shoppers around the world are purchasing off the site and what products they are adding to their wish lists.

 

All elements which Net-A-Porter values most including social media, fashion and a shopping community, will be enhanced with The Netbook and strategically position them within the market.  This tool will allow the Net-A-Porter team to monitor the online shopping community by tracking which products this selected group is interested in as well as what pieces they choose as compliments to that outfit. In addition, it allows them to analyze who is interacting and identify any correlation between genders, social roles and cultures. Lastly, they will be able to track real-time purchases trending internationally, developing a competitive advantage for the brand in the global fashion market place.

 

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

Nielsen Asian American Consumer Report (2013)

Joachim Scholz, PhD's insight:

A good resource for marketers who target Asian Americans, and a good example for secondary data.

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

10 Ways to Prove the Value of Social Media Monitoring - Brandwatch

10 Ways to Prove the Value of Social Media Monitoring - Brandwatch | Marketing Research | Scoop.it
When it comes to selling shoes, marketing to Pinterest 70 million members is a no brainer. But when it comes to selling specialised services to businesses, the value of social media monitoring can be dim to even the most experienced … Continued
Joachim Scholz, PhD's insight:

Brandwatch is selling its own social listening / social media management service, so it is no surprise that this article is peppered with links to their own solution and benefits. That being said: it is a great overview post on why social listening is important, and how it can generate value for a company. A must read.

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

DataSift | Powering the Social Economy

DataSift | Powering the Social Economy | Marketing Research | Scoop.it
The platform to gain deeper insight into customer segments, markets and competitors.
Joachim Scholz, PhD's insight:

DataSift is a new-ish service to aggregate and analyze social data in order to improve marketing strategy.

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

Understanding Consumer Decision-Making with Means-End Research - Rockbridge Associates, Inc.

Understanding Consumer Decision-Making with Means-End Research - Rockbridge Associates, Inc. | Marketing Research | Scoop.it
One of the toughest, yet most important, aspects of marketing is understanding why consumers make decisions. Why does a soccer mom drive an SUV instead of a mini-van? Why does a teenager drink Coke instead of Pepsi? In these examples, product features rarely drive consumer choice. Consumer decision making goes much deeper than that. Marketers …
more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

Finding a Place for Market Research in a Big Data, Tech-enabled World - Knowledge@Wharton

Finding a Place for Market Research in a Big Data, Tech-enabled World - Knowledge@Wharton | Marketing Research | Scoop.it
Thanks to social media and other technology, a wealth of consumer opinions is at a company's fingertips these days. But Wharton experts say traditional market research still has a vital role to play in product development.
Joachim Scholz, PhD's insight:

Even though big data allows marketers to better see whether a product does well in a market, this does not negate the need for marketing research. This is because testing products "in the wild" and analyzing the data only tells you what product works better, but not why. It also does not tell you what product iteration you have not thought about yet would work best.

 

Psychological and especially cultural research methods can get to the deeper motivations and understandings of consumers, providing still eye-opening insights, even in the days of big data.

 

From the article: "Unprecedented access to big data does nothing to negate the need for deep market research, according to Wharton marketing professor Eric T. Bradlow, who along with Fader directs the Wharton Customer Analytics Initiative. “Can you possibly predict what people are going to do?” he asks. “Yes, you can. However, the science of psychology — why people are doing what they are doing — in traditional marketing research provides a great complement to what can be measured.”"

more...
No comment yet.
Scooped by Joachim Scholz, PhD
Scoop.it!

What Secrets Your Phone Is Sharing About You

What Secrets Your Phone Is Sharing About You | Marketing Research | Scoop.it
Businesses are tracking their customers and building profiles of their daily habits using a network of startups that have placed sensors in restaurants, yoga studios and other sites around Toronto.
Joachim Scholz, PhD's insight:

As you would expect, tracking cell-phones offers a plethora of data that can be analyzed to create consumer patterns. Ethically this is a huge hole opening up, as this happens without users' consent and often knowledge.

more...
No comment yet.
Rescooped by Joachim Scholz, PhD from Consumer Behavior in Digital Environments
Scoop.it!

GRIT Sneak Peek: The Top 5 Emerging Methods In Market Research

GRIT Sneak Peek: The Top 5 Emerging Methods In Market Research | Marketing Research | Scoop.it

In keeping with our SOP of the last few years though, we’re doing a few “sneak peeks” on some subjects we covered in the most recent GRIT study. One of the perennial favorite topics is the adoption of newer approaches into the researcher toolkit, so here is at least a little bit of what we found.

 

Now, on to the  reason you clicked on this link: what emerging methods are growing and approaching mainstream penetration? The Top 5 are:

 

Online CommunitiesMobile SurveysSocial Media AnalyticsText AnalyticsBig Data Analytics


Via Russ Merz, Ph.D.
Joachim Scholz, PhD's insight:

As a qualitative researcher, the graph above is great news for me: Qualitative and interpretive methods are more and more integrated into Marketing Research professionals. Surveys have ruled as King over the MR toolkit for a long time, but this reign has come to an end. Not a revolution, but a much needed diversification.

 

Online Community analysis is used by almost half of all 2,229 respondents to this survey (see, method diversification works both ways). Social Media Analytics is another great example of method diversification wrapped-in-one, because it often involves a mix of quantified metrics (sentiment analysis, volume, etc) and a qualitative analysis of individual mentions on social media. Text analysis is another tool on the top 5 used MR tools that carries a heavy interpretivist bent (though could also be automated, of which I am rather sceptical, given the complexity of human language).

 

Outside the top 5 most used tools, we see many more qualitative methods being used to a fair share, and some of them show an incredible potential in terms of how many MR professionals are planning to use them: Webcam-Based Interviewing, Mobile Qualitative and Mobile Ethnography are all qualitative research methods that can generate deep insights into consumers' lives. And especially the last two show a great potential with almost 40% of respondents planning to use these methods in the future. 

 

What comes out of this data is that recent technological advances have given qualitative methods a great boost. As qualitative researchers, we should embrace these technologies and venture further into videography and mobile technologies, using consumers' own devices as often as we can.

more...
Russ Merz, Ph.D.'s curator insight, December 6, 2013 11:10 AM

A look at what marketing researchers consider to be the top emerging methods for acquiring informatin about consumers and the market.

Scooped by Joachim Scholz, PhD
Scoop.it!

5 Budding Social Data Startups to Watch

5 Budding Social Data Startups to Watch | Marketing Research | Scoop.it
It's safe to assume Topsy won't be the last social data company scooped up over the next year or so. Here are a few other startups to keep your eye on.
Joachim Scholz, PhD's insight:

Social listening is fast becoming a core tool for marketers to generate consumer insights. And rightly so, since these are unfiltered, auto-initiated and un-guided insights that can be leveraged by companies to inform their marketing mix, positioning, segmentation, and so much more.

 

Topsy, once of my favorites (we use it in class for a social listening assignment) has just been bought up by apple for a whopping 225 Million or so. This list presents 5 more companies that deliver valuable information for marketers.

 

And along the way, this article gives some quote nuggets of why social listening is such a hot topic right now that every CMO should have on her list:

 

""The real gold in social is this publicly available data that we call asymmetrical connections, or indications of interest," said CEO Jon Elvekrog. "Who you're following, what you've pinned, Tumblr blogs you've re-blogged. By harvesting that public information, that gives us a really good idea about what stuff you'd like to see more of.""

more...
No comment yet.
Suggested by Hamy Nguyen
Scoop.it!

Clemson University establishes social media listening center with support from Dell, Salesforce Radian6 | Clemson University, South Carolina

Clemson University establishes social media listening center with support from Dell, Salesforce Radian6 | Clemson University, South Carolina | Marketing Research | Scoop.it

Clemson University has partnered up with Dell & Salesforce Radian6 to build one of the first university-based Social Media Listening Center (SMLC). As a research university, Clemson offers its student a unique opportunity to be early adopters in the field of social media. The SMLC has 6 large display screens that are monitored by both faculty and students. SMLC has helped students gather data and insights on various topics from developing advertising campaigns to monitoring conversations amongst college athletics to identify key differences between men and women’s sports.

I believe that Clemson’s adoption of this new technology is an effective way of attracting talents interested in learning about social media listening. It is the first of its kind offered at an undergraduate and graduate level, and gives students first-hand experience on using the technology and applying it to various disciplines. This is direction that technology, business and marketing are heading in the future, and it is possible that social media listening technology will be rapidly expanding into students’ curriculum in the future.

 

more...
Businessopportunites's comment, October 24, 2013 8:33 AM
Insightful News! Thanks sharing the post. Are looking for new business entry in china? please visit http://www.youtube.com/user/DTcommunications
Suggested by Shannon Loughrey
Scoop.it!

Andy's Answers: How Wendy's uses social listening to make better business decisions | SmartBlogs

Andy's Answers: How Wendy's uses social listening to make better business decisions | SmartBlogs | Marketing Research | Scoop.it

This interview conducted by Andy Sernovitz showcases the success in Wendy’s (fast food restaurant) in the past 15 years. Brandon Rhoten, VP of Digital & Social Media at Wendy’s, explains how lending an ear to consumers and then making decisions based on their concerns has proven to be successful for the company.

 

What changes in the marketing mix is up to the company, but can include any of: price, promotion, and product. The people truly have the power. What Wendy’s did specifically that was revolutionary for the industry was create an interactive application that educated consumers on nutrition and a balanced diet.

 

Through their twitter account, Wendy’s was able to increase popularity of value items. They did this by asking consumers to name certain items. Though this may be seen as a risky move, the consumers responded well and Wendy’s was able to incorporate the names to align with their business.

 

Additionally, this company has mitigated risk of rumour by listening to consumers’ true concerns. When the outbreak of pink slime occurred, Wendy’s knew their customer base wanted to be reassured that it was not in the product they were enjoying. Wendy’s confirmed it is not, and never has been.

more...
No comment yet.
Suggested by Lindsey Virtue
Scoop.it!

No Free Shots: How Walmart Responds to Social Media Haters

This article discusses Walmart shifting their perspective on social media and adapting to the new standard of engaging with consumers online. As a corporate giant, Walmart would previously disregard tweets from individual critical customers and only use their platforms to promote. This outdated method was not allowing Walmart to maximize the potential of their platforms as consumers now expect online interaction from brands.

 

Walmart’s new approach to social listening and engaging consumers goes beyond the marketing mix of promoting their products and prices. As a company that is highly criticized, social media gives Walmart the opportunity to address complaints and change opinions. To properly address concerns Walmart now uses multiple twitter handles and has different marketing teams in charge of promotions and responses to consumers. These divisions ensure that the giant organization is effectively marketing and managing their reputation.

 

Walmart’s new approach shows that no brand, no matter how large, should overlook the power of individual online opinions. Brands should instead utilize their own online influence to manage these opinions. Walmart also proves that not only can social media be utilized to create a good reputation and customer loyalty but also to repair corporate reputation through positive online interactions.

more...
No comment yet.
Suggested by Emma Squires
Scoop.it!

How Xerox Uses Analytics, Big Data and Ethnography To Help Government Solve "Big Problems"

How Xerox Uses Analytics, Big Data and Ethnography To Help Government Solve "Big Problems" | Marketing Research | Scoop.it

Xerox is driving innovation in the transportation industry by combining big data analytics with ethnographic research. Xerox recognized that a multitude information isn’t communicated by quantitative data; cultural and social patterns largely influence how a product is used and understood.

 

Xerox combined qualitative with quantitative research to gain insights into traffic and parking congestion in Los Angeles. Quantitative data suggested a high price elasticity for parking, but this didn’t explain why parking occupancy rates in some areas didn’t increase when prices were lowered.  Xerox then conducted ethnographic research to observe public attitudes and uses of parking. The study uncovered that some areas of the city were actually considered ‘undesirable’ for parking by the public. Xerox was then able to develop a dynamic pricing model that altered parking prices in different areas based on the public’s attitudes.

 

This article offers a valuable insight for marketers: ethnography and quantitative research can be highly effective when used together. Quantitative data can provide a good launching point for conducting ethnographic research, and ethnography can help researchers ensure the right questions are being asked. This tactic could provide businesses with a strategic advantage at understanding consumer needs. 

more...
gavin melles's curator insight, November 27, 2013 10:50 PM

This is one version of mixed methods

Suggested by Ki Yeol Kim
Scoop.it!

Salesforce's Listening Tools Now Help Brands Track China And Russia's One Billion Social Users

Salesforce's Listening Tools Now Help Brands Track China And Russia's One Billion Social Users | Marketing Research | Scoop.it

Salesforce has opened doors for many companies by developing a working relationship with social media sites prevalent in China and Russia. This relationship will allow Salesforce to provide to its users tools to actively listen to the social activities on sites like Weibo (China) or VKontakte (Russia). In my opinion, this is a great advancement made by Salesforce because it will not only provide businesses in those regions more information to improve their current product/service offerings to their existing customers, but it will also allow companies not in the region to gather information to identify opportunities in those countries as well.

 

With consumers’ increasing usage of social media, it has become crucial for companies to participate in social listening in order to understand their customers better. By understanding what they enjoyed about the product, services, or the general atmosphere, companies can better strategize to improve sales, customer retention, or customer satisfaction.

 

In the article, Salesforce Marketing Cloud chief Lazerow has indicated that this new development has allowed Salesforce to listen to consumers around the world using its tools, which will enable big brands to feel comfortable doing business in these regions, despite their different politics and privacy policies.

more...
No comment yet.