This morning our client and partner, TVB issued a press release
of our landmark study with them. The study measures social behaviors of fans of
TV shows and brands. It then correlates it to the show's audience size (as
measured by Nielsen) and ad spend (as measured by Kantar Media). The results
show that higher the reach higher the engagement overall. Further, TV ad spend
correlates to social engagement. As an example, if AT&T advertises on
CSI:NY, over time, fans of the show engage more with the advertiser
demonstrating the impact of advertising. The main conclusion of the study is as
we get increasingly lonelier in our physical lives, we increasingly want to
connect with other people digitally. Entertainment serves as a major theme to
have such connections and thus forms the "Cultural Currency". We are
honored that TVB chose to use our data set for this study.
Social media “engagement” gets you halfway, its what you do next that matters.
Over a decade ago, when Social Media was emerging, people made fun of measurement, social media strategy, and any hint of a brand or business trying to monetize social media efforts. This sounds impossibly crazy today, but it’s true. The common refrain was “Social media is not about your brand. It’s about the conversation.” If you are reading this, chances are you were engaged in those very same conversations.
We’ve come a long way and even the “conversationalists” have backed down. Social media today is being maintained by the traditional marketing, PR and advertising agencies, for better or for worse. Despite this forward progress, every so often I hear old-time thinking. Such was the case on at a recent conference when a purported marketer stated the true goal of social media was “engagement.”
Here is a behind the scenes look at a few of our numbers. It is a massive challenge to capture and organize our data as there are few to no rules saying big data must be static. In fact, it is constantly changing. Two components which we maintain weekly are the categories or buckets which we use to organize our affinity points and the other is fan engagement.
As of March 25th we tracked 3325 different categories across 10 different social media affinitiy "verticals", containing over 35,000 individual entities.
Market Segmentation, even to many marketers, is a fuzzy concept that is recognized as difficult and time consuming. The thought of market segmentation conjuors up thoughts lengthy surveys, followed by an even longer analysis. Coupled with the fear of being late to market, it is little wonder why marketers struggle to properly segment their consumers.
Another approach businesses try is to compile an analysis of their customer data in their contact database. In the past, to target a runner with a running-related product, I would advertise or run a joint campaign with a vertical publication, say, "Runner’s World". Alternatively, I would query my customer database trying to find good targets based on data attributes (geography, industry segment, engagement level, etc).
Presuming, you captured the right details to segment, your customer data records are a good start - for marketing existing products. New products, or those developed to target another market for customers you don’t yet have probably shouldn’t have the same messaging and targeting.
As a result of these challenges and disparate data, businesses may choose to punt and rely on instinct to partition customers or rely on old data or worse, their instinct. In social media, companies can gather more information to customize messages based on the interactions over a long-term engagement. But it is near impossible to scale and personalize marketing based on individual social media engagement. This is where market segmentation based on social media behavior, comes into play.
With interest intensifying on how to best leverage social media for brands and businesses, we thought it would be clever if we turned our platform back onto the social media networks to see which brands, TV networks, and celebrities the social networks' fans engaged and identified with the most. Since this was new to us we found several unexpected relationships, some of which could present great opportunites for both brands and the networks.
[Update: We are letting you guess the top celebrities for each network to win a free month trial.]
The 2013 Social Media Brand Analysis Infographic is available in both png and pdf (large) formats.
Social media intelligence is evolving at an incredible pace. As brands and brand agencies look to uncover deeper behavioral characteristics of consumers, understanding a brands social engagement and mutual interests are logical starting points. Brand engagement can be thought of as how much someone interacts with a particular brand on one or many social media networks. Brand affinity captures all of the consumer's brand expressions and maps them to others with like affinities in multi-dimensional way. The more people with common interests the more apparent the affinities become.
As a brand marketer, you should immediately recognize the value of this information. Understanding a consumer's interests relative to your brand takes the guesswork out of your brand strategy. Some of the most valuable brands in the world are employing brand affinities to gain insight into their consumers, and here are a few of the innovative ways they are using our social data to map out their marketing strategy.