Voice of the Customer @ #IBMconnect

IBMconnect-conf

The IBM Connect roadshow moves from Auckland to Sydney and then to Melbourne over the next few days. Come along and learn how you can turn data into business value.

The Known Unknowns – Small Steps Big Gains with Watson Analytics

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Reports that say that something hasn’t happened are always interesting to me, because as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns – the ones we don’t know we don’t know.
Donald Rumsfeld

My morning starts with a river of data. First up, there is email – a quick run by the inbox alerts me to urgent issues, questions, client inquiries and news. Every email I open, every link that I click and every article that I read is marked, tagged, tracked and collated. And then it’s over to LinkedIn’s news feed to check what is happening in the industries I care about. Having built a substantial network of well-connected and insightful connections over the years, I get a very quick sense of what is trending globally, what is vital locally and what needs to be reported or responded to. Finally, I switch to Facebook. I am blessed with opinionated and smart friends who share and increasingly, the richness and quality of news and insight available through that network is out-pacing all other channels.

But what am I doing here? I am working with Donald Rumsfeld’s mantra. I am looking to these networks to tell me the things that I don’t know that I don’t know. Essentially, this data is helping me look beyond my radar.

The same approach can be applied to marketing. In fact, for marketers to remain relevant and responsive – we need to be looking beyond our own radar.

For as long as marketers have been marketing, we have used media to reach our customers. We’ve equipped our teams with megaphones and messages and marched them to the perimeter of the business compound. To reach our customers, we buy and create media – after all, as the adage says, “fish where the fish are”. But this is the inside-out marketing model from the 20th Century – and social media has turned it inside out.

Turning to sites like Twitter or Facebook – or even LinkedIn for the B2B marketer – can feel like facing a firehose. The torrent of information coming through is astounding. Just take a look at the recent social media statistics for Australian audiences:

  • Over 13 million using Facebook
  • 13.5 million using YouTube
  • 2.5 million using Twitter

But it’s really not the big numbers that are important here. It’s what you do with them.

The known unknowns of our customer data

Just as I do each morning, marketers need to be thinking selectively about their customers. Rather than aiming to speak – or “connect with” all 2.5 million Twitter users in Australia, why not start somewhere easier? Why not start with the “known unknowns”? Why not start by figuring out WHICH of our customers are using Twitter or Facebook (ie a lot of them), and improving our understanding of those people?

Most modern CRM platforms have fields that allow you to collect the Twitter handles or Facebook profiles of your customers. Why not start by understanding how many of your existing customers have this information included in their profile? This gives you your known unknowns:

  • Run a report on your completeness of social media profile data in your database
  • Use Facebook custom audiences to match Facebook profiles to your existing email database
  • Do some profile matching via Twitter to do the same
  • Run an email campaign asking for that one additional piece of information. Provide a useful incentive. Make it worthwhile.

For most organisations, taking these small steps would take less than a day. And it paves the way for much deeper exploration.

Combining Voice of the Customer and Analytics as your over the horizon radar

Once you know who your customers are on social networks, it opens the door to a much richer experience for both you as a marketer and your customers as consumers. And what you’ll find on social networks is not the well-manicured conversation of corporate marketing – you’ll find the very direct “voice of the customer”. Generally, however, our “social listening” platforms are built around our own keywords. Our products. Brands. They are only sometimes built around understanding our customers pain points, needs and expectations. This means we are again working from the inside-out – working with the known knowns.

Thankfully, powerful natural language processing is beginning to provide the analytics horsepower we need to decipher social streams. I have explained previously about the way that IBM and AusOpen collaborate to transform customer experience at the Australian Open Tennis events – but analytics is no longer the domain of big business. With platforms like IBM Watson now available at an affordable rate (starting at around $50 per user), you don’t need to be “Tennis Australia” nor a data scientist to understand what’s going on with your market. You just need to understand your business.

Take a look at this video to see how you can use Watson and Twitter data to analyse retail sales. Look at the way that the language in the real time reports is structured around the way that marketers work. Rules are setup and then data populates accordingly. But most interestingly, because Watson works with natural language – it works with the language of the marketer as well as working with the language of the customer.

For marketers, this means that Watson does the hard work of identifying the most interesting facts contained within your data sets, letting you focus on making the right decisions about what happens next. For example (at 2:13), “sales by state” is flagged. Watson chooses the best representation of the data (in this case, a map) but also provides a “ribbon of data” that can be used to interrogate and analyse at a deeper level. Typing in a search related to what you need to know (eg “tweets by hashtag”) turns that data into a report that lets you see immediately what happened to your sales data and why.

Suddenly that river of Twitter data becomes understandable. A connection can be made between your business results and the social media data coming from a particular channel in a particular location.

And in case you need to tell the story of your digital marketing and your analytics to your executive team – or to your customers – with a few clicks, the visualised data can be compiled into ready made infographics. Now you not only have a custom radar to understand your customer – you can link your customer and business value together. Will this make you a better marketer? It will certainly make you more relevant to your customer – and that is a win all around.

By the Numbers: Facebook in Australia

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Screenshot 2015-04-17 09.09.23No doubt you’ve seen them huddling around the bottoms of buildings, near the entrances and exits. On the benches and in the cafes. Their eyes are downcast, their heads bent, shoulders hunched. A decade ago you’d be right to think that these people were spending their morning or afternoon break smoking. These days, the crowds are revolutionaries. But they are not “card carrying” – their weapon of choice is the smartphone – and every status update, share and connection is laying waste to the traditional models of business, networking, socialising and culture. In fact, these changes are impacting almost every aspect of the way we live – in what we call the 5 Cs of Digital Disruption.

The digital revolution is a different style of transformation. It is not a revolution of technology but one of behaviour. Certainly, the technology has had an impact on our lives – and will continue to do so – but the profound changes are in the the WAY that we think, act and behave. And increasingly this includes a technology component.

In Australia – the facts and figures tell the story of pervasive behaviour change. The Australian Social Media Cheat Sheet shows – as at February 2015 – just how much time (and attention) is being spent online. But it’s not just “online” – there are so many ways in which we can consume “online” content and engagement these days – from smartphones and tablets to PCs, smart TVs and Internet of Things devices.

Diving deeper into the statistics, Facebook Australia advise that there is more to the numbers (and that the numbers are larger):

  • 1 out of every 3 minutes on mobile is spent with Facebook properties – messenger, Facebook and Instagram
  • More than 13 million Australians use Facebook every MONTH
  • More than 10 million Australians use Facebook every DAY
  • On average, more than 9 million Australians access Facebook via mobile
  • 32% growth in the last 12 months

Facebook shared some slides you might find useful for your next presentation:

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Australian Social Media Cheat Sheet

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Update: High quality image here. PLUS check out the update to the Facebook stats.

Detailed statistics and information on social media in Australia continues to be a challenge. While there are pockets of data here and there – we rarely see a side-by-side comparison of user data and benchmarking information. So it is great to see this cheat sheet available. Shared by the folks from Reinventure (over on LinkedIn), it compiles (mostly) Australian data from Facebook, YouTube, Instagram, LinkedIn and Twitter – with Pinterest data pulled from global data.

The infographic provides some great high level stats, pros and cons for each of the platforms and some useful comparison benchmark data. The data appears to be current as at February 2015 and includes sources like Social Media News, YouTube press statistics and DirectTarget.

ReinventureStats

Decyphering Bitcoin and the Blockchain

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No doubt you’ll have heard about Bitcoin by now. It’s that disruptive technology that is keeping Financial Services CEOs awake at night. JP Morgan CEO, Jamie Dimon, in his annual letter to shareholders warned investors and the banking industry that “Silicon Valley is coming” – suggesting that there are hundreds of startups focusing on the financial services technology space (“fintech”) and that traditional banking will need to double down on its innovation efforts.

[Startups] … are very good at reducing the ‘pain points’ in that they can make loans in minutes, which might take banks weeks. We are going to work hard to make our services as seamless and competitive as theirs. And we also are completely comfortable with partnering where it makes sense.

But his particular focus on next generation payments systems like PayPal and Bitcoin were called out for special attention.

Here in Australia, these new systems have been the subject of a Senate Hearing Committee investigating digital currencies.

But how does Bitcoin work? Sean Carmody, Head of Credit Risk at Westpac put together this presentation that explains the technical underpinnings of Bitcoin – the blockchain. It explains:

  • Why virtual currencies are a happening thing – the perfect match for a virtual world
  • The problem with virtual currencies – how to prevent people simply “copying” a digital currency
  • The innovation in the “blockchain”

And while the presentation does get technical, it is also eye-opening. Technology may be transforming the way that currencies can operate (now and into the future) – but TRUST remains a vital ingredient in currency transactions. And as Sean suggests, Bitcoin may not be the winner in the digital currency race – but it has fired the starter’s gun.

Why Digital Disruption Sneaks Up On You

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Digital disruption is a popular theme in any business discussion. No matter whether I am speaking with technology companies, startups, industrial product manufacturers, professional service firms or pharmaceutical companies, eventually the topic arises. But it is hardly ever a direct conversation. More often than not, we approach “disruption” from the side.

You see, when we think of disruption we are thinking of some big change that temporarily suspends the way that we work – forcing us to change. But digital disruption doesn’t necessarily work this way. It’s more like wave after wave of small changes. Like a tide rolling in way past the high tide mark. But the REAL problem of disruption is that we don’t see if for what it is. Put simply:

We treat disruption’s symptoms but not its root cause.

And this means the threat of digital disruption is all the more dangerous for business.

Marketers have been at the forefront of digital disruption partly because they have (or should have) a good ear for the voice of the customer. They should understand the accelerating pace of change that consumers are adopting and incorporating into their everyday behaviours. But digital disruption is not JUST a marketing challenge. It is a challenge that faces almost every aspect of our businesses.

To understand the wide ranging impact of disruption, we put together a framework – the Five Cs of Digital Disruption. It’s a framework that we use with clients to map, understand and address digital disruption in a programmatic way. It helps us and our clients determine priorities – how to CREATE value in an age of disruption, how to CONNECT socially, engage CULTURALLY, CONDUCT business and CONSTRUCT our thinking.

5 Cs of Digital Disruption

But more than this – the Five Cs provides a focus for action. After all, if you are sitting still, you’re a sitting duck. Choose one of the Five Cs, analyse your situation and begin a PROCESS of attack (note I don’t say “plan of attack”). Don’t let digital disruption sneak up on you – act and iterate. For in a world where disruption is the new “business as usual” you really MUST find a place to start.

The Thought Leader Journey

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2015-03-20 11.49.51Up until recently, I have rarely listened to podcasts. They just did not seem to work for me. I didn’t have the regularity of travel or the time to focus. But podcasting seems to be riding a wave of new popularity – and an explosion in the type and number of podcasts combined with easy to use apps has seen me start to change my ways. And with an interest in supporting people and businesses I know, I started with some local casts – Trevor Young’s Reputation Revolution podcast and Mark Pesce’s This Week in Startups Australia.

Trevor’s podcast investigates personal branding and the do-it-yourself thought leadership route available to us all. I was able to join Trevor to share some of my own DIY thought leadership. Hope you enjoy it as much as Trevor and I had recording it.

Last Chance to Enter Telstra Australian Business Awards

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You have a week to get your entry in for this year’s Telstra Australian Business Awards. The awards close on Monday, 30 March 2015.

The Awards program has recognised the achievements of brilliant Australian small and medium businesses across five awards categories – Startup, Micro, Small, Medium and Regional.

Obviously there are some great opportunities that come from being selected as a Telstra Business Awards finalist – but the process of entering the Awards can help you really focus on your customers, the value you provide and the impact that you are having.

In addition to the personal / professional satisfaction that comes with entering, every business that enters the Awards receives a 70-page Business Health Check report that evaluates their business performance, identifies areas for improvement and provides a platform to review business strategy and plan for future growth.

Telstra Business Group Managing Director Will Irving said the Awards not only recognise the best in business but also provide some amazing opportunities for business growth and innovation.

“The Awards are an opportunity for businesses to benchmark their performance across all sectors, providing unparalleled networking opportunities and a chance to reinforce credibility, build recognition and pursue new ventures.”

Winners of the state-based Telstra Business Awards will be announced at gala dinners throughout July, with national finals to be held in Sydney on 20 August 2015.

Nominations and entries can be made at telstrabusinessawards.com or by calling 1800 AWARDS.

ENTERCreative Commons License Abdullah Bin Sahl via Compfight

Disrupting the Disruptors – Follow Me on Meerkat

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I feel it. I’m sure you feel it too. Launch fatigue. It is what happens when you can’t bring yourself to click a link or open yet another email announcement about the app or website that is going to change your life. After all, our lives are pretty much the same as they were last year, right? AND the year before. And the year before that.

Actually, I can’t recall being truly, authentically excited about a new technology for sometime.

Until Meerkat arrived.

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I frequently attend events of all shapes and sizes. Sometimes as a guest. Sometimes as a speaker. But always as a curious participant. If there is something interesting taking place, I will live tweet the speeches. I will take photos from the stage. It’s as much for my own benefit as it is for those who follow. I find this kind of live coverage a great way to capture value – to tell the story, to bring people closer. To explore. But with Twitter and even with Instagram pictures only take you so far. And for most events 15 seconds is just not long enough.

Enter the Meerkat

While Twitter recently announced its purchase of Periscope for live streaming – Meerkat has been able to build a substantial user base in a matter of weeks. And while new apps come and go, it feels like this cat may have some interesting and stripy surprises.

In my view, most social networks handle new product launches appallingly. It seems that once they achieve some level of scale, they lose their way, hire in “enterprise” types and follow the beaten path towards monetisation through advertising. Facebook are getting better at this. But Twitter is clearly lagging. Not only have they invested in an app with little or no public traction, their track record with new releases does not inspire confidence. And this leaves the door open for disruption.

Meerkat takes what has been happening in a much more clunky way and removes the friction. They’ve taken a leaf out of Apple’s playbook – observe an innovation and make it better. Pioneers of portable web streaming like JustinTV led the way, struggling with battery packs, bulky technology and low network connectivity. But for the individual it was all too much. Trouble. Bother.

And that’s where Meerkat’s elegance wins out. With your smartphone and a good 4G signal (or 3G while standing on one leg), you can now livestream anything. Everyday events. Activities just t. Special occasions.

With Meerkat, social media is not about telling people what you are having for breakfast. It’s not even about how good your breakfast looks in photos. Now people can watch you eat. Live. With sound.

We’re all breakfast TV hosts now

Effectively, our conversations can actually be turned into conversations. We become both interviewer and subject.

But already this new medium is challenging the old form. Twitter excels for those who find social settings too in-your-face. On Twitter you can know all the answers, but Meerkat’s critical eye demands high energy. Conversation. Viewpoints. Meerkat is the medium of the incessantly curious the verbally dextrous.

Is it all too much?

It’s very early days – but Meerkat is setting a new direction that we didn’t know we needed. But one thing is for certain. Those who win on networks like Meerkat will be very different from those who win on text based channels like Twitter. And when the disruptors are disrupted, things get interesting.

Mean Tweets–The Greens’ Sarah Hanson-Young Tweets Back

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Public figures attract a lot of bile on social media. But there is a special kind of hatred that seems to be reserved for politicians – especially female politicians. The very public campaigning against Australia’s first female Prime Minister, Julia Gillard, will certainly be remembered for the dog whistling and sexism that passed for public debate. It marked a low point in political discourse – one from which we have scarcely recovered.

It certainly seems that many in the Australian population still struggle with successful women on the public stage.

So what is a politician to to? Resort to the broadcast media? Or create their own?

South Australian Greens Senator, Sarah Hanson-Young has taken a leaf out of US Talk Show Host, Jimmy Kimmel’s book, and has started sharing some of the more colourful – and downright rude – messages that she receives via her YouTube channel. Introducing “Pleasantries with Sarah Hanson-Young”, the senator explains:

As a federal senator, I receive a lot of correspondence. Today, I am going to share with you some of the more heartwarming messages.

What I like about this forthright approach is that, where possible, Twitter identities are shared. It’s great to see some of this kind of “feedback” get the ridicule it deserves.

But even better than that, it’s great to see some of our politicians giving some creative thought to the way that they engage with the public. If only more of them actually engaged with technology they might not pass such ill-informed legislation as the Data Retention laws – and we’d all be better off for it.