Production Blog Reviews

A Prediction: Twitter to Predict the Future

Posted by cgseo under Social Media

Trending topics reveal much more than the objects that captivate the hearts, minds, and keyboards of Twitter users around the world. Twitter’s trends is a cultural mirror that reflects the state of attention and intention. And as such, Tweets then offer an MRI that visualizes the minds of consumers and more importantly, serve as a crystal ball that reveals the future of products and services before and soon after they’re released. For the most part, however, the vast amount of precious insight is widely untapped. Instead, businesses focus on volume and congregation, enticing brands to engage in the conversation rather than truly capturing and analyzing the activity that inherently inspires empathy and ultimately relevance. I think that’s about to change… Conversations as Predictive Markets Research reveals much more than a state of events; it also unveils demand and intent, and when dissected through additional filters, data can predict what lies ahead. Hollywood is no stranger to forecasts and predictions. One of the most accurate solutions to date is based on technology that converges the wisdom of the crowds to create predictive markets. The Hollywood Stock Exchange (HSX) for example, enables consumers to buy and sell virtual shares of movies and stars. As the world’s leading entertainment stock market, motion picture executives now have a real-time ticker to gauge interest, demand, and the prospective of projects. Scientists at HP Labs in Palo Alto may have uncovered another real-time exchange that will empower studios as well as everyday businesses to surface opportunity and probability and that conversational stock market is better known as Twitter. Sitaram Asur and Bernardo Huberman of HP Labs essentially proved that social data can accurately predict box office revenues. As explained in their own words… In recent years, social media has become ubiquitous and important for social networking and content sharing. We demonstrate how social media content can be used to predict real-world outcomes. In particular, we use the chatter from Twitter.com to forecast box-office revenues for movies. We show that a simple model built from the rate at which tweets are created about particular topics can outperform market-based predictors. We further demonstrate how sentiments extracted from Twitter can be further utilized to improve the forecasting power of social media. To provide a glimpse into their work, Asur and Huberman basically calculated the frequency of film titles as they appeared on Twitter, tracking 24 movies and 2.9 million tweets over the course of three months. Films ranged from Avatar to Twilight: New Moon. There are two approaches that the duo factored into their analysis and in doing so, spotlight the need for businesses to consider the distinct effects of buzz, word of mouth, and experiences as they impact and influence behavior. In the first analysis, Asur and Huberman examined first week performance based on computer modeling that factored two variables: the rate of tweets around the release date and the number of theaters playing the film.  The results of the first model were as astonishing as they were accurate, predicting the opening weekend box office with an accuracy of 97.3%. As a comparison, HSX.com, the current standard for opening box-office predictions, was just under 1% with 96.5% accuracy. The second analysis separates buzz from experience and as such, required the creation of a ratio of positive to negative tweets. The data was then fused with another prediction algorithm, which resulted in 94% accuracy. As in any research project, we must be mindful of the group in which we sample. If demographics are important to the results, then we should observe that the average age of Twitter users is 39.1 and the user base is comprised of 57% female and 43% male. But still, social data across a myriad of social networks is invaluable and mostly available for examination. The Business of Prophesy Predictive marketing and ultimately the reality of behavior are accessible to almost everyone ready to embrace the prospect of shifting from a market of uncertainty to one of prediction. One of the most fascinating aspects of the research stemming out of HP Labs is the ability to not only predict performance, but also learn from the reactions and actions of consumers. For example, Apple could have applied a similar formula to officially forecast iPad sales in week 1 and week 2. In the weeks, and most notably, the several days leading to the official debut, iPad trended on several occasions. Aside from foretelling performance, Apple, or any brand really, can monitor the same activity to unearth opportunities for new features, prioritize fixes, and also assess experiences to ideate future products, applications, and iterations. Brands now also have the ability, if properly aligned with the prowess and empowerment, to detect potential problems before they swell and become official social tsunamis. In the case of the iPad, for instance, conflicts, crashes, hardware issues, etc., are identifiable in real-time and if the infrastructure of the company is designed for rapid response, it can then initiate the development and distribution of fixes, communication, and solutions. Let’s not ignore the power of IF – the I nfluence Factor either. These conversations, en masse, represent sentiment and intention and also influence the corresponding actions of affected social graphs. This sets the stage for a network effect that determines the state and fate of products and services, culminating in a centralized hub for future reference. For any brand or organization, the mastery of listening and also informed engagement, contributes to perception and awareness and as such, influences those who are introduced to ancillary perspective. Conversations transpire with or without us, and our absence speaks louder than our words. In the end however, nothing will help substandard, ordinary, or bland product and services. And the point of all of this is, if you continue to introduce objects into the marketplace that are not based on the readily available real-time information before you, then you deserve the fate you’re dealt. At some point, this becomes less about chance and more about destiny, with a little bit of luck thrown in for good measure. Twitter and other social networks are the crystal balls that present the intelligence as well as the influential voices, who can help us create and participate with purpose and significance. The Future of Futures The work of Sitaram Asur and Bernardo Huberman is profound as it fundamentally transforms how businesses forecast performance. But that’s just the beginning. The research of Asur and Huberman manifests a catalyst that will transform businesses as well as the corresponding cultures and driving methodologies of product design, service, and engagement from the outside in and equally, from the bottom up. The wisdom of the crowds, when harnessed creatively, will reveal everything businesses necessitate to inspire the creation of meaningful and authentic products…where consumers become stakeholders as their voices contribute to the shaping and evolution of the end result. And, those who weave the deliberate acts of listening, predictive analysis, and studying market reactions will learn and demonstrate that markets are indeed defined by conversations . Connect with Brian Solis on Twitter , LinkedIn , Tumblr , Google Buzz , Facebook — Please consider reading my brand new book , Enga ge ! — Get Putting the Public Back in Public Relations and The Conversation Prism : — Image Credit: Shutterstock

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A Prediction: Twitter to Predict the Future

Social Networks are Touchpoints for Customer Acquisition and Retention

Posted by cgseo under Social Media

Touchpoints serve as the point of contact between a buyer and a seller. As the race to socialize commerce escalates, these touchpoints represent the nodes that define the human network , connecting people across the social Web and uniting them around common interests, themes, and movements. While the technology to connect buyers and sellers on the social Web is universal, the architecture for true engagement is antiquated. Customers are flocking to the social web to not only connect with friends, family, and peers, but also the brands that attract their attention. However, there is a tremendous disconnect between the volume of potential customers and the brands who truly understand how to find and more importantly, how to establish mutually beneficial connections with them. The roadblocks that contribute to the absence of traffic on the bridges built between consumers and brands are trivial once brands understand the dynamics of social engineering and the allure of content in order to stimulate transactions. Everything starts with an acute awareness of where existing and potential customers are discovering and sharing information today combined with a genuine appreciation for what moves them. The moment we have the insight necessary where to construct our presences, we can then engage with influencers, peers, and consumers based on a transparent foundation of contributing value, direction and resolution to each interaction. According to research conducted by ForeSee, the opportunity for online retailers is profound. In the 2010 Social Media Report , ForeSee observed that 60% of online shoppers already use social media sites and networks regularly. And, 56% of those online shoppers friend or follow retailers, but they can only do so, if the retailer is actively engaging within those networks. The study found that only one-fourth of the top 100 e-tailers (e-retailers) has yet to create a Facebook page. ForeSee found that of all the social networks frequented by online shoppers, Facebook consistently earned the top spot. 56% of online shoppers frequented Facebook, followed by YouTube at 22%. MySpace, believe it or not, ranked third with 15% and actually edged out Twitter by 4%. However, pay attention to the real opportunity. While existing users are important, over 30% reported that they do not use social sites…at least not yet. If only 25% of the top 100 online retailers maintains a Facebook page and with Facebook ranking as the most active network among online shoppers, the following data should be more than enough to change 2010 marketing plans posthaste. Over 60% of consumers follow one-to-five brands online with another 21% following six-to-ten.  10% actually reported following 11-20 brands and 8% stated that they follow over 20 of their favorite products and services. What motivates them? Affinity and allegiance are of course among reasons for following brands, but as documented late last year, consumers are also motivated by receiving invitations for events, special offers or promotions. For those skeptics who have yet to allocate funds and resources to engaging customers and prospects in social networks, perhaps this information will erode suspicion. Your customers ultimately will engage with their favorite brands where and when possible, but eventually, your absence will eventually contribute to the insignificance of the brand as competitors will ultimately step in and capture the attention and loyalty of the very people you need to reach. This research is testament to the rapid evolution of customer acquisition, retention, as well as defining the new landscape for advocacy. Connect with Brian Solis on Twitter , LinkedIn , Tumblr , Google Buzz , Facebook — Please consider reading my brand new book , Enga ge ! — Get Putting the Public Back in Public Relations and The Conversation Prism : — Image Credit: Shutterstock

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Social Networks are Touchpoints for Customer Acquisition and Retention

Twitter and Facebook: The New Tools of Productivity or Distraction

Posted by cgseo under Social Media

The argument is strong on either side of the case: do social networks increase or decrease productivity on the job? It’s a landmark case where the decision will ultimately determine the fate of business within respective online communities of influence. Perhaps however, it’s also a decision that we may never realize. On one side, the focus of employees and the output of their time and energy, is essential to the livelihood of the company that employs them. Unregulated distractions, especially those of an addictive nature such as real-time consumption and interaction on the Web, are potentially disruptive. In 2009, several studies reported on the diversion of social networks and the decrease in productivity as well as the security risks they posed to corporate IP and overall production, efficiencies, and output. As Caroline McCarthy reported for CNET late last year, Robert Half Technology found that 54% of U.S. companies block social networks completely and another 19% only permit it for business purposes. Of that, 10% of companies surveyed permit social networking for personal use and 16% allow “limited” personal use. In a recent issue of Wired Magazine , Brendan Koerner shared two studies, one performed by Nucleus Research that revealed that Facebook shaves 1.5% off total office productivity and another by Morse that estimated on-the-job social networking costs British companies $2.2 billion a year. In the context of security, Sophos published its Security Threat Report 2010 , which revealed the social networks believed to pose the most prominent security risks. Sophos reports a 70% rise in the number of organizations experiencing spam and malware attacks via social networks in 2009. And, 72% are of the mindset that employee behavior in social networks could endanger their business security, which represents an increase from 66% in the previous report. Here’s where things become very real….More than half report receiving spam via social networks, and over a third claim to have received malware.  The total number of businesses targeted for spam, phishing and malware through social networking sites also increased dramatically, with spam rocketing from 33.4% in April to 57% in December. According to the study, just over 60% of those surveyed named Facebook as representing the largest risk. MySpace followed with 18% and Twitter trailed closely with 15%. Graham Cluley, senior technology consultant for Sophos, said in a statement published on CNET … The truth is that the security team at Facebook works hard to counter threats on their site–it’s just that policing 350 million users can’t be an easy job for anyone,” “But there is no doubt that simple changes could make Facebook users safer. For instance, when Facebook rolled out its new recommended privacy settings late last year, it was a backwards step, encouraging many users to share their information with everybody on the Internet. Three Sides to Every Story As goes the saying, there are three sides to every story, one side, the other side, and the truth or resolution, somewhere in the middle… Innovation and technology have always been the flashpoint of debate and concern over productivity. The telephone… The water cooler…(less technology, I know, but just making a point) Desktop PCs and eventually personal notebooks… Email… Web 1.0… Minesweeper and Solitaire… Cell phones… Telecommuting… It’s a long list and the reality is that distraction is nothing new in the workplace. In the same Wired article that opened with compelling data by Nucleus and Morse presenting the case against social networks in the workplace, the author suddenly slammed on the brakes, sharply turned the wheel, and jumped on the gas leading us suddenly in a new and enlightening direction. The article, after all, was entitled, How Twitter and Facebook Make us More Productive . Studies that accuse social networks of reducing productivity assume that time spent microblogging is time strictly wasted. But that betrays an ignorance of the creative process. Humans weren’t designed to maintain a constant focus on assigned tasks. We need periodic breaks to relieve our conscious minds of the pressure to perform — pressure that can lock us into a single mode of thinking. Musing about something else for a while can clear away the mental detritus, letting us see an issue through fresh eyes, a process that creativity researchers call incubation. Brilliant. And of course, everything in moderation… Wired quotes the authors of Creativity and the Mind , a book that blends leading scientific research with experiences to help readers unlock their creative potential… People are more successful if we force them to move away from a problem or distract them temporarily, observe the authors of Creativity and the Mind , a landmark text in the psychology and neuroscience of creativity. They found that regular breaks enhance problem-solving skills significantly, in part by making it easier for workers to sift through their memories in search of relevant clues. Last year, researchers at Australia’s University of Melbourne discovered that taking time to visit “websites of interest” actually increased the ability to concentrate, boosting productivity by 9%. As part of the study, the scientists introduced a dedicated category of study, “workplace Internet leisure browsing,” or WILB and they believe that this activity helps keep the mind fresh. Dr. Brent Coker , from the Melbourne Department of Management and Marketing, shared controversial insight from the study… People who do surf the Internet for fun at work – within a reasonable limit of less than 20% of their total time in the office – are more productive by about 9% than those who don’t. I took to social networks during and outside of work hours to ask the question , Do you believe that social networks decrease productivity in the workplace? – Yes! I find myself wasting getting sucked in to the stream – No, in fact, it helps me reset to jump back to work refreshed – I’m not sure yet As expected, I immediately received numerous responses that suggested the inclusion of a caveat that addresses those who are employed to participate in social networks as part of their job. To keep things simple, I noted that if you engage in social networks professionally, the conversations and links you encounter in online work also pose as distractions and in some cases clicks can lead us further away from the task at hand. This informal poll revealed that out of 785 responses, just over 49% of respondents do not believe social networks decrease productivity. However, 37% admit that they feel that their online activity leads them away from their primary focus. Notably 14% aren’t sure which way to lean yet. Engaging strategically within communities of relevance with individuals who represent meaningful value to the company in various ways is already proving effective, lucrative, and instrumental to engendering goodwill, loyalty and advocacy. Any businesses affected by consumers with access to the internet will need to grant access to prominent tools, services, and networks to listen, learn, respond, lead, and contribute value. True collaboration in the next web will be based, in large part, on internal and external participation. One could successfully argue that social networks, including Facebook and Twitter, realign focus, inspire creativity, and spur advocacy by introducing outside elements into existing culture and process. The top down support of such activity is particularly motivating and as such, harnesses the wisdom and energy of the crowds into an internal transformer for not only creativity and stimulus, but also serves as a hub for introducing and spreading enthusiasm and ambition throughout the organization. Of course, as individuals, we are in control of our experiences and progress. Our production is defined, among many things, by our ambition, motivation and overall satisfaction. The decisions we make when engaging in social networks are striking, not simply because they affect our efficiency, but because they test our determination. The live web is developing and while it is enticing, it is not beyond our means to manage. Rewarding insight, initiative, and ingenuity sets a standard. However, without guidance, guidelines, or healthy governance, we reap the risks and penance warranted by our lack of understanding and leadership…and this is true for both sides of the discussion. Connect with Brian Solis on Twitter , LinkedIn , Tumblr , Google Buzz , Facebook — Please consider reading my brand new book , Enga ge ! — Get Putting the Public Back in Public Relations and The Conversation Prism : — Image Credit: Shutterstock

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Twitter and Facebook: The New Tools of Productivity or Distraction

Q&A: Culture Shock, How Social Media is Changing the Culture of Business

Posted by cgseo under Social Media

Good friend JD Lasica asked me to share answers to some fantastic questions for a blog post he published in celebration of the new book, Engage . I poured so much of myself into the responses, that I felt it was worth sharing here with you as well. #Engage Your new book Engage may turn out to be the definitive work on how social media is transforming business. Looking at the big picture, how is it changing the balance of power between customers and companies? I invested an incredible amount of passion and also vision into this book as I believe that the time is now to lead a media revolution based on insight, intelligence and experience. I think the minute you hold this book, its intentions are clear. The impact of new media is only just beginning and the road to where we’re going is, to channel the Beatles, long and winding. I believe that the destination is less important nowadays and it is this journey that we each embrace, that defines our experiences and teachings. As in many books and blogs on the subject of social media, theory plays a role of course, however, new media isn’t as “new” as we might think. There are lessons and applied learning that we must embrace in order to effectively change, not merely for the sake of change, but for the betterment of the tattered relations between businesses, customers, and the influencers and peers who connect them. The shift of balance skewed towards those who believe they held the power and in many cases, businesses invested profits into distancing the nodes that connect us to our networks of relevance in order to reduce the cost of actually “managing” customers. When we lost the universal ability to hit “0″ and connect with a live human being, regardless of medium, it was the final insult that sparked a social uprising. Social media is the democratization of information and the equalization of influence. Monologue gave way to dialogue and we the people ensured that our voices were not only heard, but felt. Now that we, as consumers, have the ability to vocalize sentiment and in doing so, cause meaningful and reverberating action, companies have no choice but to pay attention. They must respond. And, they’re not even close to doing so in a scalable nor efficient manner. Brands were blindsided because their focus was on distancing connections instead of embracing them. Social Media is our industrial revolution, and as sensational as it sounds, we have yet to fully realize its potential and promise. Tell us some of the success stories you spotlight in the book — one or two compelling examples of how companies have used social media to change the way they operate. I share examples for every viable aspect of social media within business ranging from service to marketing to product development to the complete transformation of a brand, its culture and purpose, from the outside in and the bottom up. To share a couple of examples right here, right now, would be out of context and also, I believe it would be a disservice to the overall value of what you, someone reading this right now, can bring to the game. The value of this book, if it’s one thing I want readers to take away, is that it answers your questions as well as the questions you never knew to ask. When we read case studies, we assume that their experience, their purpose, their intentions are similar to our business and the unique challenges we face. Additionally, we presume that the strategy driving the examples actively shared with us were calculated in their design and execution. More importantly, we also surmise that the KPIs, metrics, and potential ROI were premeditated, designed into the program and that all of the results that showered the company through social media did, in fact, offer true business value – at some level. Engage starts at the end and works you back towards the middle and makes no apologies for asking you to challenge yourself to understand every important aspect of social media and how it applies to your world. There are no short cuts and the best programs I’ve encountered or lived through, have been designed based on a balance between goals and intelligence – meaning, those initiatives created from scratch as inspired by our research. It’s time to answer our own questions and write our own success stories. You’re a veteran of the public relations field. How is the landscape shifting for PR, marketing, corporate communications and customer service? (It can’t shift fast enough in my opinion!) I’m a veteran of marketing, communications, and new media, but I am also forever a student, technologist and futurist. But in order to make sense of everything that’s unfolding before us, I’ve become an aspiring anthropologist, sociologist, and ethnographer as well. I believe that value-driven engagement is the new marketing and the key to effective engagement now is believability. Transparency and authenticity are table stakes, and quite honestly, they should have always served as the foundation for interaction. But that’s just it, interaction was missing. To be believable, well that’s something entirely different, and it requires a vested understanding for not only features and benefits, but also how it improves experiences. Believability is a trait that is actively sought by consumers at every step of the decision making process, including after the purchase. It requires a deeper investment from representatives to immediately barrel through suspicions and doubt to convey solutions, guidance, and in turn, inspire action. It’s how we earn credibility and ultimately trust. And, this is true for every department as in a world of direct engagement, one where people have access to the same tools to connect and influence others, we are required to match or surpass their social prowess to steer activity in a favorable direction. Everything to do so, is simply enabled through the tools and services available today, relying on the channels that reach our desired communities based on how it is that they communicate with one another and what it is they’re seeking. The culture and behavior of each online community dictates our strategies and it’s there for us to discover right now. In the end, this is all rooted in the art and science of public relations (not PR)…and everyone within the organization is now on the front lines of influence. We are measured by our actions and words and therefore, putting our words into action requires engagement that is driven more by genuine intentions and solutions and less about gimmicks, selling, messaging, or pitching. What new ground does Engage cover that hasn’t been explored by books like Groundswell or Trust Agents? I purchased copies of Groundswell and Trust Agents those I work with because I believe they move thinking and actions in a direction that begets personal and professional transformation. Change is never easy and therefore, we need inspiration and guidance to take steps that lead us away form complacence and mediocrity and march us towards the redefinition of direct to influencer and direct to consumer engagement. Engage only works because of books such as Groundswell, Trust Agents, The New Community Rules by Tamar Weinberg, Social Media Marketing Handbook by Dan Zarrella, among others. Engage is a deep dive into everything you need to apply tangible, and highly effective, strategies and tactics into your day-to-day work, regardless of which division you’re in or your position within the hierarchy. This book is written to empower champions and executives, bringing them to the table more informed about what they need to accomplish and how…creating a truly collaborative environment that grows based on knowledge and not guesswork. This book is rich with proven lessons and instruction that starts with analyzing the tools at a much more meaningful level in order to grasp their potential, limitations, and ultimately how to form connections with the very people we wish to reach and inspire. Step by step, this book leads readers towards insight starting with… – How to find communities of influence – How to create worthy presences in each network according to specific goals and objectives and why – How to create content and social objects that trigger responses and encourage sharing – How to grow communities that react when activated – How to define success and in turn, measure it – How to ascertain the amount of resources required and how to get top-line support for pilots and campaigns How do you think social media will impact corporate culture and internal business processes? A lot of corporations are dabbling in social media at the edges but aren’t really internalizing it. What happens if and when they do? As mentioned earlier, social media represents the democratization of not only publishing, but also that of influence. As such, the communities we “thought” we reached via broadcast, top down branding, now only earn glances as attention rapidly becomes a precious commodity in these conversation-rich media networks. The reality is this, as consumer gain prominence within online societies, the challenge to connect with them directly or those around them elevates dramatically. Connecting with them is not an option however. Their activity in social networks builds and inevitably creates a groundswell or social tsunami that triggers a tipping point which inevitably forces businesses to pay attention. Engage is designed to help businesses shift from a reactive to proactive model, and in doing so, we can then employ trust agents and linchpins to cause change from the outside in. Moving away from the play on words, culture is something so powerful that consumers can invariably channel what we represent through their actions and words to assist in the expansion of reach and purpose. However, culture is usually something that is not as intentional as we might think. The exercise of identifying who we are and who we want to be is usually documented in a mission statement but not embodied in our daily interactions. But, as social networks are powered by people and emotions and interests are the ties that form bonds between them, our culture becomes the very thing that attracts affinity, and without it, the humanization of our brand is hindered. Because influence is surmounting, it is now a requirement to foster a culture within that becomes the essence that cultivates collaboration inside and out, serving as the catalyst for inspired activity in our communities of interest and beyond. Give consumers something meaningful to talk about. Empower employees to willfully share their pride and talent. Become something that everyone can believe in. Yes, our culture is something that is going to change as a result of social media, as it should. No brand is an island and if you think about engagement as that of a tourism bureau, it is our job to go to where people are discovering and sharing information now in order to attract them to our story, realizing that without culture, experience, community, and corresponding value, we will not earn the relationships nor advocates we seek. Connect with Brian Solis on Twitter , LinkedIn , Tumblr , Google Buzz , Facebook — Please consider reading my brand new book , Enga ge ! — Get Putting the Public Back in Public Relations and The Conversation Prism : — Image Credit: Shutterstock

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Q&A: Culture Shock, How Social Media is Changing the Culture of Business

New Research: SMB E-mailers Using More Social Media & Video – ClickZ News

Posted by cgseo under Social Media

New Research: SMB E-mailers Using More Social Media & Video ClickZ News Small-to-medium-sized businesses appear to be adapting to social media and other marketing technology at an … Video Email On Rise In 2010, Study Reveals MediaPost Publications GetResponse Study Reveals Top SMB Email Marketing Trends PR Newswire (press release) all 7 news articles