“If we can’t turn it into something we can easily understand and move on, then it really doesn’t matter.” So says Pernille Bruun-Jensen, CMO of social media marketing intelligence platform NetBase, regarding the use of Big Data in digital marketing today. Whether that means monitoring the performance of a campaign launch, listening in to thwart a potential PR crisis, or comparing customer sentiment to that held for competitors, Pernille heralds in “Generation 3” of social media strategy. In this Moneyball for Marketing podcast, Pernille explains that social media will not only drive value for brands, but also influence the present business action brands need to take, based on feedback from the marketplace. Details of this discussion include:
Next Generation Marketing: Pernille introduces the concept of 3rd generation social marketing intelligence, showing how marketers can target on a micro scale the psychographics of consumers, “expand the universe from a very detailed profile in social and go spot others that feel the same way.”
Hat Trick: Pernille shares successful social media strategy case studies that came from tapping into real-time social feedback—including how Arby’s captured $30 million in PR and present value during the Grammy Awards, based purely on the hat that Pharrell Williams was wearing.
Performance Perspective: According to polls Pernille’s team conducted, only 27% of CMOs are analyzing marketing intelligence on their brands’ reception relative to competitors. Pernille explains why making that comparison is part of a smart social media strategy.
Present and Future Value: Pernille forecasts how gathering marketing intelligence on competitors, industries and categories will increasingly empower CMOs to “prove out the value” of social media marketing to CEOs.
Glenn Gow is an expert in marketing performance, Coach, Board Advisor, Author, Speaker, Podcast Host and Founder & Advisor of Crimson Marketing. Follow me on Twitter, LinkedIn, Google+. To get a free copy of Crimson’s One-Page Marketing Metrics Funnel, visit here.