Tag Archives: intelligence

Statisfy Has the New Social Media Intelligence Tool with All the Answers

Statisfy, a Boston tech startup consumer
insight gathering platform and customer engagement tool, unveiled today at the InsighTech
Conference in San Francisco that its Social Intelligence Tool product has over
1,750 online publishers using their tool in less than 30 days of its release.
Founded in 2014 by co-founders Dean Wiltse and Dave Casion, Statisfy is
changing the way brands and businesses understand and engage with their
constituents and followers. Using Statisfy, brands can easily gather
deep insight by asking engaging image based questions to their social media
followers, their website visitors, and more.
‘Our goal with Statisfy was to create a truly engaging platform where businesses
and brands could take full advantage of social media as a rich and untapped
site of market intelligence gathering. Right now, we’re the only option
for those looking to accurately and quickly gather rich customer insight,
increase social media engagement, and learn from their followers and
constituencies across social, web, and mobile platforms,’ said Wiltse, CEO and
co-founder of Statisfy.
Statisfy’s team believes that asking questions is a
fundamental part of the human condition. Every individual has questions waiting
to be asked, but Statisfy believes that existing social spaces do not encourage
this. Its team embarked on an endeavor to put a product in people’s hands which
enables them to actively engage with one another and facilitate greater
understanding of humankind via technology.
Additionally,
Statisfy allows content creators and publishers to make the most of their
content by creating and embedding image-based polls which then engage audiences
in an innovative way. To date, Statisfy has image based polls on over 1,765
online publishers. Although
businesses have reacted to changes in consumer behavior by creating presences
on social media, those platforms have remained push platforms, rather than
pull. With Statisfy, brands can ask targeted, image-based questions to their
social media followers, website visitors, and consumers which has the ability
to collect answers from thousands of people. Those results are then
automatically generated into easy-to-read and share statistics.

Casion President, CTO and co-founder of Statisfy, said, ‘We
make it easy and accurate for businesses to draw conclusions about their social
media followers and website visitors. These insights can be used to inform
product development, marketing campaigns, and business decisions. We’re also
giving people a way to anonymously compare themselves and their opinions to
those of others, which they can then share out via social media.’ 

Evolving Organizational Structures for Intelligence: Where Does Market Research Fit?

By: Bill MacElroy

As we begin to emerge from years of recession, the Market
Research industry
appears to be recovering some degree of growth in
revenue.  However, the growth in the
market for survey research remains very low relative to other business service
industries.
When we consider the causes of low growth, several scenarios
may be at play. First, the industry may have met a natural cap: we may have
reached a zero-sum level of production that meets all the needs for information
that client companies have.  If this is
the case, then the only way to grow is to take business from someone else;
leaving the total market size relatively unchanged.  In this scenario, competition is defined as
“direct competition;” we’re fighting against competitors who are
doing the exact same thing that we are and seek points of differentiation based
on doing what we’ve been doing, only better or cheaper.
A second possibility is that new, disruptive
technologies
or methods are becoming substitutes for traditional research
and that the demand for information in client companies is being met through
alternative channels.  This is
“indirect competition,” wherein we are fighting for budget against
substitutes that are producing similar benefits, but in very different ways.
Having seen the growth in Big Data operations and the
budgets allocated to that infrastructure, I’m of the opinion that the second
scenario may be becoming more relevant.
For a number of years, enterprise-level businesses have been
building new organizational units for the collection and processing of
transactional data and other forms of ‘big data.’  Market research is seen as an established
information gathering function, but the two methods operate very differently in
terms of speed, cost of infrastructure, complexity and perceived reliability.
Many firms have been considering how these parallel
analytical processes can be integrated into their overall ‘market sensing’
activities.  There is some evidence that
the big data group may be poised to swallow a great deal of budget that used to
be earmarked for market research.
In order to ascertain the degree to which big data is
becoming an indirect/financial competitor to established research budgets,
Socratic fielded a study including 200 enterprise-level strategic
decision-makers who employ information systems to support the corporation’s
choices.  We will be presenting the
findings of this study at IIR’s
InsighTech
. This presentation
will feature the results from this research-on-research study, which will
reveal how senior business decision-makers foresee their organizations’ future
structure and where Market Research fits into the overall scheme of business
intelligence.
Key Takeaways:
??        
How does the emergence of business analytics and
big data fit into future intelligence plans?
??        
How/Does market research integrate with these
functions?
??        
What will the reporting structure look like for
research and data analytics?  Do they
both report to the same function?
??        
What will the leadership hierarchy of
intelligence look like?  What functions
produce the most value?
??        
What will be the budgeting mix between big data
and market research activities?
??        
To what extent is senior management supportive
of each function?  Are there credibility
barriers that must be addressed?
??        
What will determine ‘success’ for each of these
functions in the future?
About the Author: Bill brings more than 35 years of marketing
management and research experience to Socratic Technologies.  His career
has included both agency and client-side managerial positions with Corning
Glass Works, Memorex, Unisys Corp., Cheskin, MACRO, and Autodesk. Bill holds a
doctorate in Management & Technology from Golden Gate University, San
Francisco; an M.B.A. with a concentration in Marketing and a Master’s
Certificate in Applied Statistics from Pennsylvania State University; and a
B.A. in Economics from the State University of New York.  He also spent an
undergraduate term at the Universit??t W??rzburg in Germany.Dr. MacElroy has taught
New Product Development and Marketing Research for UC Berkeley Extension, San
Francisco.  He has been a guest lecturer at MIT, UC Berkeley, The
Pennsylvania State University, University of San Francisco and the Notre
Dame-AMA School of Marketing Research.

Tubular Labs Revolutionizes Digital Video Measurement

As video platforms and social data proliferate, traditional measurement techniques haven’t been able to keep up, which has made the audiences and conversations about online video almost impossible to track.
Tubular, an innovative video intelligence service, has introduced software that tracks the creators and content of one billion videos across over 30 platforms. After unlocking YouTube, Tubular Labs now provides real-time insights into what and who is succeeding on Facebook Video, Vine, Instagram Video, Twitch, Vimeo, and AOL, as well as MTV.com and CNN.com. In addition, Digitas, Comedy Central, Activision, and HGTV are among the Tubular customers with early access to the cross-platform expansion that delivers insights to build their brands online.  
‘You don’t have to fly blind in the future of video,’ said Tubular Labs CEO Rob Gabel. ‘For the first time ever, Tubular Labs’ customers now receive real-time, essential industry intelligence.’
Now, just a simple search across Tubular Labs’ 2.3 million creators reveals 21,000 are already generating one million views or more each month. Tubular sheds light on these creators, the videos they create, and the audiences they reach. In fact, more than 16,000 videos per month reach the one million view milestone.
Tubular Labs video intelligence has been developed with sophisticated customers in digital video, using big data techniques to derive patterns of success from more than one billion videos uploaded by 2.3 million creators. Video teams are empowered to answer key questions, like what content resonates most with which audiences, where and how should content be distributed, and which campaigns performed best.   

‘Digital video is TV for the social media generation. It’s the next great advertising frontier,’ said Tubular Labs Co-Founder and VP Marketing, Allison Stern. ‘There’s a measurement gap. We’re going to fill it – to provide much needed insights to brands, agencies, and media companies.’

Speaker Spotlight: Kimberly Cason

I recently sat down with The
Future of Consumer Intelligence 2014 
speaker Kimberly Cason, Senior Consultant,
Marketing Research, American Cancer Society, Inc. We are fortunate to have her
share her critical insight with our FOCI community before the event kicks
off in two weeks. This year, FOCI explores the emerging role of decision
science and the convergence of knowledge points – insights, foresights, social
science, marketing science and intelligence with technology as a central
driving force and profound connector.
We are barraged by information – and within this sea of data
we must remember to think of the problem we are trying to solve and how we can
we use this convergence of information to better understand people.
 Translating the new “understanding” into future opportunities
means that the role of a researcher is changing. FOCI accelerates disruptive
innovators in the research space and pushes people to take risks, to think
outside of traditional research methods and insights gathering and explore new
and alternative tools and technologies. FOCI will bridge the gap between what
people say they are going to do and what they actually do.
Here is what Cason had to say:
IIR: A big theme
of this year’s conference is ‘humanization of data.’ Why do you think
understanding PEOPLE (not consumers) presents an opportunity for strategic
action?
Cason: Marketing
has moved to a custom-level. When you walk into the Nike store, you get greeted
by name and they know how many steps you’ve taken that day (if you are a user
of their gear).  We have to move with it or risk putting ourselves into
extension by not providing relevant insights.
IIR: How is
technology not only changing how we do things, but also how we understand the
world, business, and people?
Cason: Technology
is so engrained in our lifestyles that not only our purchasing behavior is
deeply impacted by it, but also our personal lives ‘ how we communicate with
family and friends, even.  How we integrate (or choose not to integrate)
technology into our lives defines us internally and externally, shaping our own
personal brands.  Even where we choose to engage defines us. 
IIR: How has the
role of ‘the researcher’ changed?
Cason: There is
an entirely new set of skills required to manage the holistic picture. 
I’ve become versed in Google Analytics, for example.  There are entire
semesters of information I’ve had to learn as the field evolves.  Social
media wasn’t even on our radar when I was in grad school (in 2005).
IIR: Describe a
situation where you’ve taken a risk or thought outside the box of tradition
market research methods. How did that benefit your business?
Cason: I love the
quasi qual/quant methodology that allows you to gather large amounts of
qualitative data using survey tools.  (Hot Spot message testing, for
example.)  These methods allow us to collect the data in one week compared
to 6 if we used a traditional focus group recruiting and interview
strategy.  Both have their advantages and disadvantages, of course, but
these methods allow for a disaster check when time isn’t on your side.
IIR: Where do you
see the emerging space of marketing science and role of data scientists in the
next five years?
Cason: We have
always been story tellers.  Now, we have to tell the story not only from
the driver’s seat of the car we’re in, but within the context of the entire
freeway ‘ all the other variables that come into play’is there traffic, what’s
the weather like, are other drivers distracted, how reliable is the car, how
far to the next exit, etc.?  It’s no longer useful to bring one
methodology to the table when presenting the whys behind our results.  We
have to look at all the influential factors and determine which are relevant.
IIR: How has the
increasingly connected consumer affected market research?
Cason: It’s a
huge opportunity for us!  Those that can turn down the noise and find the
nuggets of meaningful data will go far.
Want to hear more from Kimberly in person? Join her
at Future of Consumer Intelligence 2014 in Los Angeles, CA in a few
weeks. She will be presenting in a session entitled, ‘Award-Winning,
Top-Tier Research on a Budget!’
 
** As a reader of our
blog, you get an exclusive 15% discount on your FOCI 2014 pass. Use code FOCI14BLOG when
you register: http://bit.ly/1mvqyD0**

About the Author:
Amanda Ciccatelli, Social Media Strategist of the Marketing Division at IIR USA, has a background in digital and
print journalism, covering a variety of topics in business strategy, marketing,
and technology. Amanda is the Editor at Large for several of IIR’s blogs
including Next Big DesignCustomers 1st, and ProjectWorld and World Congress for Business
Analysts
, and a regular contributor to Front End of Innovation and The Market Research Event,.
She previously worked at Technology Marketing Corporation as a Web Editor where
she covered breaking news and feature stories in the technology industry. She
can be reached at aciccatelli@iirusa.com. Follow her at @AmandaCicc.

Why Habits are the Lifeblood of Your Business

Editor’s Note: This
essay is adapted from Hooked: A
Guide to Building Habit Forming Products
by Nir Eyal. Nir also blogs at NirAndFar.com.
Habits are one of the ways the brain learns complex
behaviors. Habits form when the brain takes a shortcut and stops actively
deliberating over what to do next.1 The brain quickly learns to codify
behaviors that provide a solution to whatever situation it encounters.
The success of many companies depends on their ability to
find a way to get users to go from infrequent use to being dependent on the
product. It is at the point when customers start to use it on their own, again
and again, without relying on overt calls-to-action such as ads or promotions,
that the product becomes a habit.
These habit-forming products change user behavior and create
unprompted user engagement.  Habit formation is good for business in
several ways. Building for habits increases customer lifetime value, provides
pricing flexibility, supercharges growth, and erects competitive barriers.
1. Increasing Customer Lifetime Value
Fostering consumer habits is an effective way to increase
the value of a company by driving higher customer lifetime value (CLTV). CLTV
is the amount of money made from a customer before she switches to a
competitor, stops using the product or dies. User habits increase how long and
how frequently customers use a product, resulting in higher CLTV.
Some products have a very high CLTV. For example, credit
card customers tend to stay loyal for a very long time and are worth a bundle.
Hence, credit card companies are willing to spend a considerable amount of
money acquiring new customers. This explains why you receive so many
promotional offers, ranging from free gifts to airline bonus miles, to entice
you to add another card or upgrade your current one. Your potential CLTV
justifies a credit card company’s marketing investment.
2. Providing Pricing Flexibility
Habits give companies greater flexibility to increase
prices. For example, in the free-to-play video game business, it is standard
practice for game developers to delay asking users to pay money until they have
played consistently and habitually.
Once the compulsion to play is in place and the desire to
progress in the game increases, converting users into paying customers is much
easier. Selling virtual items, extra lives, and special powers is where the
real money lies.
As of December 2013, more than 500 million people have
downloaded Candy Crush Saga, a game played mostly on mobile devices. The game’s
‘freemium’ model converts some of those users into paying customers, netting
the game’s maker nearly a million
dollars per day
.
3. Supercharging Growth
Users who continually find value in a product are more
likely to tell their friends about it. Frequent usage creates more
opportunities to encourage people to invite their friends, broadcast content,
and share through word-of-mouth.
Products with higher user engagement also have the potential
to grow faster than their rivals. Case in point: Facebook leapfrogged its
competitors, including MySpace and Friendster, even though it was relatively
late to the social networking party. Although its competitors both had healthy
growth rates and millions of users by the time Mark Zuckerberg’s fledgling site
launched beyond the closed doors of academia, his company came to dominate the
industry. Facebook’s success was, in part, a result of the more is more
principle ‘ more frequent usage drives more viral growth.
4. Creating Competitive Barriers
When it comes to shaking consumers’ old habits, better
products don’t always win ‘ especially if a large number of users have already
adopted a competing product. For example, August Dvorak designed a keyboard in
1932 that is far more efficient than the QWERTY most people use today. Dvorak’s
design of vowels in the center row proved to increase the speed and efficiency
of typists. However, despite having built a better product, the switch to his
keyboard never happened. Why? QWERTY survives because the costs of switching
user behavior after habits have been formed are too high.  
For many products, forming habits is an imperative for
survival. As infinite distractions compete for our attention, companies are
learning to master novel tactics to stay relevant in users’ minds. Today,
amassing millions of users is no longer good enough. Companies increasingly
find that their economic value is a function of the strength of the habits they
create. In order to win the loyalty of their users and create a product that’s
regularly used, companies must learn not only what compels users to click, but
also what makes them tick.
You can hear Nir speak
at the upcoming Future of Consumer Intelligence Conference 2014 in Los Angeles,
California.  The Future of Consumer
Intelligence 2014 explores the emerging role of decision science and the
convergence of knowledge points – insights, foresights, social science,
marketing science and intelligence with technology as a central driving force and
profound connector. For more information
on the event, click here to download the interactive brochure: http://bit.ly/1h9MG2Q
Register for FOCI and see Nir in person! http://bit.ly/1eozvcg

1. Dickinson, A. &
Balleine, B. (2002) The role of learning in the operation of motivational
systems. In Gallistel, C.R. (ed.), Stevens’ Handbook of Experimental
Psychology: Learning, Motivation, and Emotion. Wiley and Sons, New York, pp.
497’534.