So - we did monitor Social Media Week (SMW) that occurred during February 2012. However, as a whirl-wind Social Business start-up we haven't had the opportunity to review the insights into the Social Data or Big Data. Customers first @iGo2 mate!
We did review the blog post by Sysomos and review their insights into the conversations surrounding Social Media Week.
Our Top 5 Social Business Intelligence Insights from Social Media Week:
1) Where are you?
Analysing social data at a geography level is always tricky. If you define specific countries in your (Sysomos or Radian6) search criteria you are bound to exclude at least 25% of the data. This as not everyone declares their location in their social media profiles. In the case of SMW there were a total of 86,690 mentions of social media week during the period 11th - 18th Feb 2012 and 25,033 (29%) of these mentions reflected below would have been excluded if the search was based on a specific geography...and you'd expect that social media people discussing SMW would declare their location. It is clear that you can't get into location data in Facebook and you'd need a clean brand to extract relevant country data from it. (e.g. Bunnings Hardware located only in Australia).
LEARNING: Carefully consider your geographic search strategy when monitoring social media ...and one more observation is that Traditional News forgot that SMW occurred!
2) What is your business objective?
Social Business Intelligence is about discovering actionable insights from big data. For iGo2 that is about engaging our clients, prospective clients, and influencers related to our company objectives - "We build Successful Social Enterprises". The social data reflects 7,381 (8.5%) conversations involving the key subjects that we are interested in. Once we further segmented those conversations by geography and influences we arrived at our iGo2 actionable data set.
LEARNING: Identification of your business objective and being able to mine your data accordingly is a key component to achieving outcomes from monitoring social data.
3) Hashtags are like Hash-browns
Obviously with a global event there was a desire to aggregate the conversations around SMW and the specific location (e.g. #SMW_HK or #SMWHK or SMWmiami or SMW12 or SMW). We were monitoring 15 hastags during the week and more sprung up during the process (e.g. SMWkeynote). With the proliferation of these hastags you quickly noticed that SMW pundits quickly moved off them and much like a hash-brown they're not so enjoyable after the first one!
LEARNING: When planning out global events be clear on how you want to aggregate the conversation and more importantly what is in it for the attendee in maintaining the aggregated conversation. This is where social architecture links to social analytics. Social data has to serve consumers as well.
4) Talk my language, or at least understand me!
One of the characteristics of Social Media is the fact it is global and international brands are being consumed globally by your customers. English is only the 3rd most spoken language in the world. Being able to "hear" social conversations in 168 languages must be part of a global brands intelligence strategy. Social media knows no borders.
LEARNING: Social Intelligence must have the ability to transgress languages
5) Know your influencers
Clearly influencers impact your brand, products, competitors and more importantly your customers. Social media enables all kinds of influencers. We are past the days of pure identification of influencers and have moved to analysing the "DNA of influencers". We need to understand their support base, their engagement, their social footprint, their strategy and their business model....all of which we'd need to ensure a successful engagement, influence, or containment business strategy.
LEARNING: Social Intelligence requires the ability to interrogate an influencers reputation economy.
So here are those Top 5 Social Business Intelligence Insights:
- Carefully consider your geographic search strategy when monitoring social media.
- Identification of your business objective and being able to mine your data is a key component to achieving outcomes from monitoring social data.
- When planning out global events be clear on how you want to aggregate the conversation and more importantly what is in if for the attendee in maintaining the aggregated conversation. Social data has to serve consumers as well.
- Social Intelligence must have the ability to transgress languages.
- Social Intelligence requires the ability to interrogate an influencers reputation economy.
Would appreciate your insights! Let us know your big social data thoughts.