Responsive Branding™ Archives

4 Ways to Leverage Big Data

October 14, 2013/by Corey Padveen

Data derived from social platforms can be highly valuable if you know how to leverage big data for the right campaigns.

Big data is one of the most talked about concepts of the era, and for good reason. If your brand knows how to effectively leverage big data to optimize campaigns and generate results, you could be looking at unprecedented growth.

Below are four great ways to leverage big data and some examples of campaigns you can execute taking these data into account.

Implement Responsive Branding

Social platforms offer brands a unique insight that no other marketing channel has ever offered. For the first time, your audience is coming to you and telling you what they want and how they want it delivered. If you are properly monitoring your audience’s tastes and preferences, you can implement Responsive Branding initiatives that leverage big data in order to target a specific group according to what they like and when they are online.

Say, for example, that you sell jewelry. After you mine for data, you find out that your target audience is most active early in the morning. Imagine taking this information, and targeting this audience when you know they are most engaged – wouldn’t that make the most sense?

Optimize Search Campaigns

When it comes to search-driven traffic, the majority of our audience is going to come from organic results. That’s a well-known fact. That said, there is still a strong part of our audience that can be influenced by ads online. Imagine if you had more insights into what that audience was.

For SEM (search engine marketing) campaigns, you can easily leverage big data in order to narrow your scope and drive a higher click-through rate (CTR). On Google, anything above 1% is considered a strong CTR. Imagine knowing exactly what demographics like to click on your ads and targeting only that group. You may not see as many impressions, but rest assured your CTR will soar!

Increase Internal Efficiency

Marketing patriarch John Wanamaker said, “Half the money I spend on advertising is wasted; the trouble is I don’t know which half.” That is no longer the case with big data.

Think outside just your marketing and advertising departments. You know where to allocate budgets and how much it costs departments to run. Now, when you look at data to see an even more in-depth analysis of where your dollars are best spent (i.e. what dollars provide you with the highest return on investment) you can eliminate waste from your budget and ensure that your spending – in marketing and elsewhere – is completely optimized.

Engage in Real-Time Marketing

Similar to Responsive Branding, real-time marketing is the concept of engaging with your audience while they are talking and capitalizing on events as they are happening. Monitoring your data in real time is a difficult task. The payoffs, however, can be great. First-mover advantage has never been more valuable than in the online world. By engaging in real-time marketing, you stand to benefit greatly as a result of your leveraging of big data.

These are just a few of the applications of big data. Find out about more by contacting t2 today.

How do you leverage big data? Tell us in the comments below or on Twitter!

5 Steps to Make Your Company a Social Business

September 27, 2013/by Corey Padveen

There are a few key steps your brand needs to take in order to be considered a ‘Social Business’.

In the last segment of this week’s ‘Social Business’ theme, we thought we would focus on the steps a brand needs to take in order to make itself a ‘Social Business’.

Some of these steps may seem redundant or a little too simple, but the reality is that every one builds off of the last, and the transition of a business into the social era needs to follow a clear outline. Making your business social is not simply about registering your company on Facebook or LinkedIn (although that is among the five steps); there is much more to it.

Step 1: Determine Your Social Business Goals

What is it your brand wants to achieve by becoming social? Like any other business endeavour, you need to set goals for the social functions of your business.

Some goals are going to be obvious and fairly superficial; you might want to increase sales, or improve customer service by offering Social Care. The key is to focus on the business applications of going social.

Every one of the objectives you set for yourself when it comes to making your business social should have a focus on creating value (Social Equity) in both the short and long terms for your brand.

Step 2: Bring Your Brand to the Socialsphere

Figure out what networks are going to help you best achieve the goals you have set for yourself and create accounts for your business on these networks.

Not every network will be right for your brand. Pinterest is a great resource, but only for certain industries. Not everyone is going to derive benefits from Pinterest. Figure out where the audiences that you want to target are active, and share you content with them.

Step 3: Engage Your Growing Audience

Your content strategy is going to help you determine what generates engagement for your three key audiences on social media that we discussed earlier this week. Once you have put together a proper content strategy, you are going to want to start engaging with your audience in order to keep them coming back.

People have an inherently short attention span when it comes to the web. With the virtually endless amount of content out there, you need to give them a reason to keep coming back to you. Being an active brand in the conversation is going to be key when it comes to building a ‘Social Business’.

Step 4: Leverage Big Data

Everything you do on social channels – from blogging to tweeting – is going to provide you with extremely valuable data that you should be incorporating into your strategy.

Simply sharing content is only half of the process – and not the more important half. Study your data, learn about your audience, customers and business and use that data, maybe in the form of Responsive Branding, in order to grow and expand your business in existing markets that you have yet to cultivate.

Step 5: Go Beyond Marketing

Your marketing and advertising departments might be the driving force behind your social selling strategy, but they should not be the only departments active on social media.

People do not necessarily want to engage with a faceless brand. Your C-suite and other departments should be engaging on social platforms and growing their audiences as well. In order to become a truly ‘Social Business’, it is going to take a lot more than your brand being on social. Every department needs to embrace the opportunities social offers.

Follow these five steps and it won’t be long before your find that you are a part of a ‘Social Business’.

We hope you enjoyed this week’s special segment on Social Business! Be sure to let us know what you think. Tell us in the comments below or on Twitter!

How Can Data Mining and Responsive Branding Grow Business?

September 26, 2013/by Corey Padveen

Data mining and Responsive Branding can be among the greatest practices when it comes to making your business social.

We have discussed Responsive Branding and how it can add value to your business in the past. Essentially, Responsive Branding is the idea of modifying your branding strategy by leveraging the data you collect on tastes and preferences of your social audience.

So how do you get that data? Data mining.

What is data mining?

Princeton defines ‘data mining’ as, “Data processing using sophisticated data search capabilities and statistical algorithms to discover patterns and correlations in large preexisting databases; a way to discover new meaning in data.” It’s the second part of that definition that matters.

The social world is filled with data. You’ve probably heard the term ‘big data’. It’s the buzz word of that day and for good reason: it can do so much. But what exactly is ‘big data’?

‘Big data’ are large data sets derived from a number of new media – sometimes too large to analyze using conventional methods of analysis. The data that can be sourced from social media is virtually endless. Mining this data from these sources (Aha!) and determining correlations can be extremely beneficial when it comes to Responsive Branding.

Data Mining and Responsive Branding

So how can these two work in tandem?

Once you have mined your data, analyzed it and uncovered commonalities, correlations and other factors that you might find important, you can use those data to modify your marketing and business strategies. Why would you do this? These data tell truths about your audience that they haven’t told you themselves. You can leverage these truths in order to cater to their preferences and increase business.

There exist a number of untapped markets that would be perfect to market your product or service to. The only issue is that your business strategy never considered that market a viable target.

When mining data, you can find new opportunities that will help you achieve the goals and objectives you have set for yourself and your business.

Have you ever mined data and made modifications to your business strategy based on your findings? Tell us how it worked out for you in the comments below or on Twitter!

8 Questions to Determine if You Run a Social Business

September 25, 2013/by Corey Padveen

There are a few simple questions whose answers can tell you whether or not you are running a ‘Social Business’.

In keeping with the theme of the week, we decided we would create a short, simple survey that can help a brand determine whether or not it is a ‘Social Business’.

The 8 questions below are simple ‘Yes’ or ‘No’ questions and come with enough explanation to make answering them fairly easy. Go through the questions, answer all eight, and see if your score was high enough to qualify your brand as a ‘Social Business’!

1. Does your brand have a presence on social networks?

This refers mainly to the ‘Big 6’ (Facebook, Twitter, LinkedIn, YouTube, Google+ and Pinterest) and others. Does your brand have a page, account or simply a presence on any channels that have been deemed social on the web?

2. Does your brand have a blog?

This can either be a standalone blog on your website, or a blog built on a blogging platform like Blogger, Tumblr, WordPress or something else. Essentially, does your brand have a platform on which visitors can see why your company is an industry leader?

3. Are you engaging with your audience?

This is meant purely as conversation. Think about whether your brand is participating in conversations in the socialsphere around your products/services, competition or your industry.

4. Are you leveraging your data?

Every action on social media is recorded and stored. Some brands choose to use it to better their programs and others do not. Which category do you fall into?

5. Do you employ ‘Responsive Branding’?

Responsive Branding is the idea of leveraging big data (question 4) and applying it to your overall marketing and business strategies in order to appeal to the tastes and preferences of your engaged audience.

6. Have you figured out where social media fits into your overall marketing strategy?

Social media is not here to replace your other business activities. It is a tool like any other. Make sure you have figured out where it fits in to your business and marketing strategies (maybe with ‘Responsive Branding’ – just a thought).

7. Are you testing content with your social audience?

Not everything you do is going to generate the kind of buzz generated by a new Apple release. You are going to need to figure out what people want based on content testing in order to find a content strategy that works for you.

8. Has social found a place in areas other than marketing?

Social media is not just about marketing your brand – it is a communications tool. It can be used for internal communication, customer service, research and development – you name it!

Have you gone through and answered all eight of these questions? OK – good.

Now look through your answers. If you answered ‘No’ to any of these eight questions, your business is not a ‘Social Business’ just yet. At least not entirely. You might have answered ‘Yes’ to several, placing you in the maturing stages of becoming social. That’s still far ahead of many brands out there and you should keep up the good work. You’re on the right track!

What is your definition of a ‘Social Business’ and which of these questions might you change/remove and what would you add? Tell us in the comments below or on Twitter!

Social Business: What Does the Concept Mean, Really?

September 23, 2013/by Corey Padveen

We often hear of the concept of Social Business, but what does that really mean?

This week, the theme of each of our blog posts will be this idea of Social Business and trying to breakdown the concept in a way that any business can understand and apply it.

A lot of people see Social Business as meaning a number of different things. That’s understandable; this is a relatively new concept so there is a lot of flexibility in terms of what it is and how it applies.

Social Business: A Definition

A lot of people consider the term ‘Social Business’ to mean something that it isn’t.

On a very superficial level, there is the school of thought that thinks a social business is one that has a presence on social media. There are also those that feel as though a social business refers to a member of the tech world, maybe an app developer or a standalone social network. These are not ‘wrong’ per se, they are just incomplete.

According to Deloitte, a ‘social business’ is one that employs any of the following elements:

Consumer-based social media and networks
Technology-based, internally developed social networks
Social software for enterprise use
Data derived from social media and technologies

(Definition taken from the MIT Sloan Management Review Research Report 2013 in collaboration with Deloitte University Press, Social Business: Shifting Out of First Gear.)

I would recommend taking it a step further. There are millions of businesses that could technically, based on the criteria above, be considered ‘social’ in some form or another. Now, the study cited goes on to explain that there are three types of ‘social businesses’: those in the early, developing and maturing stages of becoming social. That said, I would still create an additional barrier to considering a business social.

What Is It, Really?

In order for a business to truly be considered ‘social’, at least two of the criteria above must exist within the business. Those two are that the business must be present on consumer-based social media and that data derived from social media activity needs to be incorporated into the execution of business initiatives.

The world is social. In order for a business to be considered social as well, it needs to be highly active on social media and using the data derived from these media in order to modify and (this is the important part) improve business operations. A few weeks ago, I wrote an article detailing the concept of Responsive Branding. For a business to be ‘social’, this has to be a factor in business operations.

Take the data collected on social – and there is a lot – and use it to your advantage. If you really want to be a ‘social business’ you need to be using social to run your business. Simply sharing content to Facebook does not a ‘social business’ make. Analyzing response, engagement, customer reception, conversion and any other data from your social networks and using that information to build your business makes your business social.

Now, one of the inherent (or, at least, more likely) results of taking social so seriously is going to be the use of internal tools, like Salesforce Chatter, in order to increase internal efficiency. But for a business to really be social, points one and four need to be there.

So ask yourself, is your business social, really? Tell us why or why not in the comments below or on Twitter!

Also, stay tuned for more articles this week on Social Business!

Social Equity: Social Media Measurability

September 20, 2013/by Corey Padveen

Social media measurability is one of the driving elements behind the value of social media.

There are few things that social marketers hate more than hearing the phrase, “You can’t measure social media.” Virtually every single aspect of your social media marketing initiatives is measurable, and it is this social media measurability that can add tremendous value to your business.

Consider other forms of marketing. Has there ever been an initiative or campaign as tangibly measurable as social media? It’s very hard to think of one. The Social Equity that this social media measurability offers can be considerable for quite a few reasons.

Justify Your Costs

When it comes to marketing and advertising, there are some initiatives that we simply have to trust blindly. With the exception of focus groups and questionnaires, it is hard to say whether a particular initiative worked.

When it comes to social media, you can easily justify the costs that it incurs. The ability to measure every single element on social and see exactly how your activity translates into Social Equity means that there is no longer a need to blindly trust an initiative. Justify every penny you spend, and showcase why a certain budget is required.

See Tangible Results

In keeping with the theme of the previous point, every single aspect can be measured in order to ensure that every single aspect is performing.

By incorporating the concept of Responsive Branding into the mix, you can make real-time modifications to your social media marketing initiatives in order to ensure that your program produces the highest possible returns.

Watch Your Business Grow

Another great feature that comes with social media measurability is the fact that you can see exactly how your business is growing online. Of course, Google Analytics provides insights into your activity online. But setting up your Google Analytics Social Dashboard and incorporating the performance monitored there with your other measurement criteria will mean watching how and where your audience is growing most rapidly.

The concept of Social Equity relates to using social media to build your business. As your social audience and results increase, so does the long-term value added to your company.

Everything on social is measurable. There is virtually no feature of a social media program that cannot be measured in some form or another.

What is your favorite measurement criteria on social media? Tell us in the comments below or on Twitter!

4 Reasons Why Social Media is a Must for Business

September 17, 2013/by Corey Padveen

There is a lot out there that defends the use of social media, but here are four reasons why social media is a must for business.

It’s everywhere. We hear about it every day and yet, there are still some companies out there that do not believe in the potential that social media offers. Well, below are four reasons why social media is a must for business and shouldn’t be ignored – by anybody.

Everybody’s Doing It

Admittedly, this is something our parents warned us against when we were younger: “If all of your friends jumped off a bridge, would you do that too?” But social media is different!

Over a quarter (27%) of time spent online by American consumers is now spent on some form of social network. What’s more 85% of Internet users have a Facebook account, and 49% have Twitter accounts! It’s hard to argue the other side when there is only a small minority left on it. (Eventually, even the most devout BlackBerry users switched to another device.)

It Spreads the Word

How much has your company spent on trade shows? What about telemarketing or PPC? Well, did you know that a properly implemented social media program generates double the amount of marketing leads as those marketing efforts?

The average Facebook user has 141.5 connections, and the average Twitter user has 208. Where else will you be able to reach such a broad audience with one line of text?

Marketing on Steroids

53% of companies have found at least one customer on Facebook, 43% of LinkedIn and 36% on Twitter. Social media lead conversion rates are also 13% higher than the average lead conversion. Ask any marketer: these numbers deserve double, triple even quadruple takes.

It Helps Business and Sales

60% of customers give feedback – willingly – to brands on social networks. That feedback can be applied to your business in order to improve the customer experience and drive new sales.

When it comes to sales, over 50% of marketers believe that social media has helped them improve sales. And in the retail industry, 73% of brands have found a new customer on Facebook. Lastly, 81% of social media users have their purchasing decisions influenced by comments made by friends on social networks.

Social media is an extremely powerful tool and it is right there in the numbers. Don’t miss the boat and think it’s a fad. Social media is a must for business!

Which of these stats do you think is most interesting? Tell us in the comments below or on Twitter!

Social Equity: A-B Testing on Social Media

September 13, 2013/by Corey Padveen

What value can A-B Testing on social media add to your business?

Last week, we discussed the value added to your business from Responsive Branding in our Social Equity segment. This week, we are going to look at a similar concept: A-B testing on social media.

When putting together a campaign, branding initiative, launching a new logo or simply figuring out which content generates the highest engagement, you might have several options to choose from. Social media adds a considerable amount of ease to the decision-making process, and that saves you time and money.

New Techniques

Focus groups are expensive and time consuming. And even after creating a questionnaire, putting a campaign together and making a decision based on the opinions of a selected group of people, you still may not have the data you are looking for.

A-B testing on social media offer a new type of focus group. You have two company slogans and you are not sure will generate a better response form your audience. What can you do to figure it out? Instead of going the conventional focus group route, why not reach out to the people that are actually your fans?

People who have liked your page or followed your brand online are more likely to provide you with honest, useful answers. Furthermore, you will be able to aptly apply the data knowing that your audience made the decision for you!

Social Equity

In our piece about Responsive Branding, we noted that your brand needs to be able to adapt to the market in real time. There is no longer the option of reactive marketing techniques. By evolving with the tastes and preferences of your audience, you stand to keep in touch with them in a much more personal way than the competitor who ignores the audience.

Reaching out to your market provides you with valuable insights. The costs saved (noted above) can grow considerably, and by the time certain changes are implemented, it might be too late to recoup those investments. A-B testing on social media offers fast, reliable ways to circumvent these costs and generate significant returns.

Is your brand testing content and initiatives on social media? How has the strategy worked for you? Tell us in the comments below or on Twitter!

Social Equity: Responsive Branding

September 6, 2013/by Corey Padveen

Social media offers great opportunities for Responsive Branding™, and that can add a lot of value to your business.

What is Responsive Branding™? The concept of Responsive Branding™ relates to making brand and marketing modifications based on the preferences, comments and reactions of your audience.

If there is one thing that people are not shy about when it comes to social media, it is letting the world know how they feel – about anything. This includes your brand. In his book, Socialnomics, Erik Qualmann notes that, “The beauty of social media is that it will point out your company’s flaws; the key questions is how quickly you address these flaws.”

Responsive branding is the way your company can address these flaws. As you monitor market reactions to your marketing and advertising efforts, you can make modifications in real time in order to appeal to the tastes of the market. Few other platforms offer such a feature, and the benefits can be astronomical.

Real Time Adaptation

Imagine knowing exactly how the market would react to a new marketing initiative before launching it. Sure, there are focus groups, and other conventional marketing and advertising techniques, but these are time-consuming, expensive and may not entirely accurate.

Responsive branding allows your brand to reach out to the market and gain their insights before the official launch of a program. A great, very recent example of this is Yahoo!’s logo redesign.

The search giant has been rebranding since Marissa Mayer took over roughly one year ago. Recently, they decided to present a new logo to the world. But were they going to have a creative team work on it behind closed doors and present what they thought was the best option? Of course not! Why waste money, time and resources doing that when you can let the market tell you which of your options is best for them?

Social Media Polling

As noted above, focus groups are expensive, difficult and not the most accurate. Social media eliminates much of the difficulty associated with focus groups and conventional testing.

Reach out to your audience on social networks. Your fans, followers and subscribers are your market. These are the people that have expressed an interest in your product or service and it is this demographic you should be catering to. Once again, the financial benefits associated with social media polling are significant.

Essentially, the Social Equity derived from Responsive Branding™ is obvious. A slew of new opportunities presents themselves with regards to your overall marketing and branding strategies thanks to your social media efforts.

Does your brand engage in Responsive Branding™? Tell us in the comments below or on Twitter!

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