– by ORKASH Labs, Copyright: ORKASH Services Pvt Ltd

Given the unprecedented growth and reach of social media, monitoring what a company is doing on social media channels and what the people are talking about its products and services, has a huge potential for competetive intelligence gathering.  The forecast for such monitoring and the consequent business potential, is without doubt exciting for any corporate. The case for increased usage of social media analytics is getting more compelling, with every passing day.

To this end, Orkash has put together this blog post, which is an amalgamation of figures and case studies.  If you are interested in competetive intelligence, simply read on.

Some Trends

A study was conducted by the Center of Marketing Research at the University of Massachussets, to identify how Fortune 500 companies are using Social Media, as part of their marketing and customer service strategies.  77 percent have active Twitter accounts and 70 percent have an active Facebook presence (both up by 4% compared to the previous year, 2012). These companies are not just promoting their products & services and creating a digital marketing campaign, but have identified Social Media for customer engagement, for example, as an effective means of interacting with disgruntled customers as well.

Further, HubSpot’s 2013 survey shows that Social Media produces almost double the marketing leads of trade shows, telemarketing, direct mail or PPC ( Pay Per Click, an internet advertising model).

Case Study 1 : Predicting Sales – Automobile Sector

Social Media analysis of the Indian automobile sector was undertaken. The activities of a well known international car manufacturer (Brand X) were monitored on various social media websites by usings ORKASH’s social media mining and analytics tool.  Over the course of a few days, various types of information were extracted from Facebook and Twitter pages. This included data extration on various metrics such as trends and demographics associated with the ‘Likes’ on Facebook pages of various brands, ‘mentions’ count of the car brand in social media conversations, influence networks of the top users, sentiment and comparative analysis of comments, location specific trends, etc. This was also done simultaneously for a rival car brand (Brand Y) to better understand the user sentiments related to various parameters, and the sales pattern.

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Fig : Sales figures obtained from Open source

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Fig : Mentions on Facebook. This is an Orkash Technology output

A direct correlation between the sales figures and number of mentions was found on a month-on-month basis. However, at the time of the study (July 2013), sales figures till the month of May 2013 only were available, with the subsequent month figures awaited. The pattern of the sales could however be predicted since the social media activity, in terms of mention counts, for these months were already available. Once the sales data was released by the car manufacturer, it was found that the sales of Brand X increased in the same pattern as predicted by the Orkash tool – there existed a direct co-relation between the quantum of social media activity and sales. Such information is of tremendous value to business.

The snapshot below, obtained from the Orkash Clustering Engine technology, shows the grouping of important keywords and phrases associated with the brand, as they appear on social media platforms. For example, the specific problems, complaints and opinions on these issues, forms clusters based on the number of occurrences, showing the inter-connections. This kind of visual representation gives a comprehensive overview of the most common topics being discussed about a brand and the inter-relationship of these topics.

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Fig : A cluster identifying Brand X problem areas. Orkash Technology Output

The Orkash tool was also able to classify which of the negative comments were complaints, and further subdivide them into various categories like quality, post-sales service, customer service etc. The locations of the origin of these complaints, in terms of which dealership or workshop in which city had a recurring problem, could also be identified by the system. The information was retrieved through the contextual analysis of text and content of the comments.

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Fig : Orkash Technology Output

Case Study 2 : Competetive Public Engagement – London Olympics  

In the build up to the 2012 London Olympics, Adidas struck a reported £40 million three-tier sponsorship deal to be the official sponsors for the games and launched their #takethestage campaign. In a classic case of competitive garnering of mileage on social media, Nike quickly countered the Adidas campaign by creating an all new #findgreatness campaign.   Figures from Socialbaker’s CheerMeter revealed that between July 27 to August 2 there were over 16,000 tweets associating the keyword Olympic with Nike, while Adidas received 9,295 tweets in the same period. Adidas gained over 80,000 new Facebook fans during the Olympics compared to more than 166,000 for Nike. The biggest sporting event in the world was a great platform to showcase the brand and increase awareness, but, as the numbers suggest, the battle on Social media was won by Nike, even though it was Adidas that spent big bucks sponsoring the London Olympics.

Case Study 3: Response to Digital Marketing : Food and Beverages Sector

The Orkash Clustering Engine technology has emerged as a very powerful tool in identifying brand activities like promotional campaigns and events, upcoming products and accumulating user sentiments and producing clusters showing their interconnections. A representation of this sort enables the brand to quickly identify problem areas, apart from ascertaining the outcome of their marketing strategies. The screenshot below, of a popular Indian liquor brand, shows the clusters obtained from social media conversations, just after the launch of a digital campaign. Key phrases like ‘Global Beer’, ‘Just want to Drink’, ‘New Brews’, ‘High Prices’ have the largest clusters and the maximum connections. This information culled out from Social media, which happens to be the platform consumers first turn to, can be of huge value to companies producing consumer goods.

Digital Marketing

The Future of Social Media Analytics in India

With its huge ‘youth demogrpahics’ driving India towards becoming one of the biggest Social Media market in next couple of years, it is becoming increasingly essential for companies to not rely solely on traditional media for the purpose of deriving business  insights. The approach of mining information from Social Media pages and conversations and using analytics to create deep insights into the activities of the brand, the user perceptions and trends related to various parameters is increasingly becoming highly relevant.

Unlike many ‘first world’ markets, India has a huge social and cultural diversity that has a very significant impact on consumer behaviour and consumptions patterns. This makes social media analytics and intelligence collection even more relavant, but with the caveat that such analytics must take social, demographic and cultural context into consideration for meaningful trends and insights to be arrived at.

In conclusion, unlike global organizations, Orkash, being a 100% Indian company, understands the local issues and dynamics, which is supported by in-house existence of social, behavioural, political, analytical and technical subject matter experts. This enables us to develop the technology keeping the local context in mind.  Thus, social media analytics, customised to the Indian market, is what Orkash can deliver.

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