Posts Tagged ‘Branding’

Edition 48 – The ‘Like’ economy

Sunday, April 3rd, 2011

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As Facebook, Twitter and YouTube become increasingly ubiquitous in all facets of our personal and professional lives, there is little doubt that social media is changing the pace of business. This week, Business21C weekly examines the ‘Like’ economy.

With 140 million messages of 140 characters or less travelling through cyberspace everyday via Twitter, how do businesses incorporate social media in their marketing mix, and how are consumers responding? From spawning revolutions to giving customer feedback, social media have made their mark, and won’t be going anywhere. For business, this has meant creating SM strategy objectives and responding to, and being ready for, a changing future.

We talk to Rod McGuinness, social media producer at ABC Radio, Gay Flashman, director at digtital communications firm Formative, and Sandra de Castron from NAB about the ramifications of social media on business.

Edition 40 – Skateistan

Sunday, February 6th, 2011

Business21C Weekly is available through the iTunes Podcast directory. To subscribe directly via iTunes, go to the Advanced menu in iTunes and select Subscribe to Podcast. Then paste in the following URL: http://www.business21c.com.au/podcasts/feed

Business21C Weekly is broadcast on Sydney’s 2SER 107.3 fm radio station at 9:00 am each Monday morning.

This week, Business21C Weekly talks to Oliver Percovich, founder and director of Skateistan, Afghanistan’s first skating school and a not-for-profit organisation working in Kabul. The idea behind Skateistan is to not only provide skateboarding lessons, but to also provide education to children, both girls and boys. For one hour of skating completed, one hour of school class must also be done.

Jochen Schweitzer used this group as a case study for a postgraduate marketing class at UTS. Two students had the brief to provide recommendations to be implemented to this not-for-profit skateboarding school in Afghanistan. Suzie Hollott and Julian Ryan approached issues to identifying and solving problems with this interesting case study, and discuss their experiences with Kirsten Lees.

Sentiment analysis: the internet becomes a focus group

Sunday, October 31st, 2010

How does the world feel right now? In 2005 wefeelfine.org scoured the world’s blogs for the keyword ‘feel’ and, via an artful and compelling interface, presented each author’s snippets of text and images as a beautiful representation of the mood of the world. Jump forwards to April 2010 when 50,000 websites integrated Facebook ‘Like’ buttons in the first week of its availability. Now with the growth of Twitter, that flow of micro-opinions and feelings has become a torrent. Social media clearly likes to express personal opinion.

Mid way between the pure art of wefeelfine.org, and the visceral grunt of Facebook’s ‘Like’ is a grey area of mostly unquantified social thought. That’s where sentiment analysis (also known as opinion mining) resides. As its tools and techniques become more sophisticated it will reap valuable insights from the cacophony – for brands, governments and researchers to understand the feelings of the masses, and then respond to them – without the need for surveys, polling call centres, or focus groups.

The way it works is via natural language processing which uses algorithms to understand the context within which people’s opinions reside. For an in depth theoretical overview of this area, Bo Pang and Lillian Lee’s book Opinion mining and sentiment analysis has plenty to absorb, but in essence, a sentiment analysis service will rate statements as either positive, negative, or neutral, and add up the results. For example, a YouTube comment such as ‘The Social Network sucks’ is clearly negative, whilst a blog saying, ‘The Social Network is not factual, but does capture the essence of the character’, is either neutral or erring towards the positive, and someone tweeting, ‘OMG u mus c JT in #socialnetwork :-) ’ is positive but needs a lot of syntax interpretation. The most sophisticated forms of sentiment analysis are yet to come, but already the technology exists to rate the strength of feeling and weight key influencers amidst many other factors.

Since context is everything, these algorithms will inevitably have a wide reaching impact upon search engines. According to Google’s Matt Cutts, Google Search is already using Sentiment Analysis for reviews, and they filed for a patent back in 2007. Consider, for example, searching on the phrase, ‘antenna problems with the iPhone 4’. This complex question requires a fair bit of individual research and unpicking from the search results, and while the answer is interesting to a member of the public, it’s vital to the manufacturer. You can be sure Apple was listening closely to the noise on the web before they gave away US$100m worth of free iPhone 4 bumper cases.

Financial markets are also interested in turning the fuzzy into facts with companies such as Thomson Reuters exploring sentiment news in the form of Market Sentiment, but it is in the branding sector that sentiment analysis is seeing the most visible evolution. Over the last ten years the concept of customer engagement has grown due to the fragmentation of market segments and customer loyalty. The rise of social media has opened new ways to review global opinion, with Nielsen Buzzmetrics being one of the first to collate and display the user trends.

The principal is that you type in a brand name or subject and the sentiment analysis service will return a dashboard or chart analysis of the positive, negative or neutral opinions from the social web: Twitter, Facebook, Social Networks, RSS feeds, 100 million blogs.

A lot of big brands are already using these services from the larger players. We see Paypal, Nokia, Skype, Xerox and Ogilvy using Alterian; The Economist using Jodange; AT&T, Barnes & Noble and Playstation are using Lithium; Nokia, Roche and HSBC are with Sysomos; Adobe, National Geographic, 3M and Dell with Radian6 ; Wiley, Vodafone and T-Mobile with Attensity; AOL, Nissan and Marriott with Clarabridge; and The Body Shop are with Brand Watch.

Smaller solutions are also available, such as Chatterscope which allows you to monitor sentiment changes via simple alert messages. And Evri has released their Vibology widget which can be embedded in any web page to show a similar rating meter.

These products are already mature enough to use standardised processes for harvesting, cleaning, processing, and delivering results to sophisticated analytics dashboards. The more developed sentiment analysis companies (above) are correctly perceiving this is vital for Customer Relationship Management, and that they need to provide the correct tools to Marketing Managers who will want to tailor their campaigns based on the results they uncover.

However, it is also an emerging technology, one which requires a lot of artificial intelligence inspired computing to glean relevance – not only from languages other than English, but also from emoticons, acronyms and social media grammar – without which a lot of Twitter would be unreadable. Until these issues are fully resolved, the biggest caveat is therefore on accuracy, and the efficacy of the ratings.

What goes around…

Tuesday, September 14th, 2010

Brandkarma sources value judgments from the crowd and uses them to depict whether companies are doing good or not. BP and Apple show how quickly things can change, reports Craig Davis.

If there is anything the Wikipedia generation knows, truth emerges from conversation. Social media provides a platform for that conversation, and Brandkarma is a platform for truth-finding around brands.

Brands live at the heart of the global economy and affect us all. We created Brandkarma to make it easy to see brands holistically and so that you can share your opinions about them whenever you’re on the web.

It works like this: you choose the brands in which you are interested from our list of hundreds – in this case, BP and Apple. You have your say, good or bad, flippant or serious. Mark your brand against our five ‘karma criteria’ – planet, customers, employees, suppliers and investors – as good, bad or somewhere in between.

Our algorithm creates an individualised ‘brand flower’ for each brand: an aggregate of the socially assessed truth of the good, or bad, each brand is doing the world. The greener the petal, the more good karma. Black? Oh dear.

The brand stories that run across this page are clear. Pollute the Gulf of Mexico with the worst oil spill ever and you are unlikely to have many good things happen to you in the near future – the essence, surely of karma. On the other hand, produce a new category of product with excellent customer reviews and sell millions of that product within months of launch and karmic credibility flows your way.

A brand’s karma, it seems, is a very fragile flower, blossoming tentatively in the warm glow of social praise; withering as soon as positive attention is withdrawn.

Of course, the interplay between most brands and their perceived karma is more subtle than the brutal parables of BP and Apple might suggest. But the growing and withering flowers driven by the will of the crowd show that there is no arguing about the fact that people attribute a karmic value to the brands they follow.

UTS protégés scoop Microsoft awards

Thursday, June 17th, 2010

The Titans win Microsoft Protégé 2010

UTS Business undergrads walked away with the two top awards at the inaugural Microsoft Protégé Grand Finals, held this week at Microsoft’s Australian headquarters in Sydney.

The challenge: to create demand for MS Office 2010 – successor to MS Office 2007 – among tertiary students.

Not a simple ask. The target market is cash strapped students, who spend up to $400 a year on textbooks, and only upgrade their software when they absolutely have to – unless it’s an iphone app of course. A spreadsheet with new features is, after all only a spreadsheet with new features.

The prize: a tantalizing paid month’s internship with Microsoft for the winning team – a resume must-have for all marketing gonna-be’s.

There was no shortage of creativity when it came to ideas to put Microsoft back on the map for gen y undergrads: a mass lambada against piracy at the ANZ stadium, a scavenger hunt (on the 20th of the 10th, with a prize of $2010), a customise-my-error-message competition, lipdubs and flashmobs.

Winning team, The Titans, ‘nailed a touch down’, in the judges words, with a presentation that combined detailed market research, structured analysis and a creative campaign. The five UTS students, Jack Pilon, Sabrina Selvaratnam, Lyall Sundel, Steve Pillon, and Timothy Cummings, combined their intimate understanding of the target market (they are after all, the target market), with a clear map of how to convert brand awareness to sales. Outstandingly, The Titans were the only group to use the Microsoft Office 2010 software to build their presentation. Smart thinking!

The winners were thrilled: ‘when we started we thought it would be amazing to win, then we just assumed that somebody else would,’ said Jack Pilon, modestly.

The judges, including Managing Director of Direct Marketing agency, Wunderman, Jo Lloyd, and an arsenal of Microsoft top guns, praised the ‘exceptional commercial thinking and marketing know-how. Your presentation was schmick and the piece-de-resistance was using the software. Well done!’

The People’s Choice award (voted by the audience on their mobile phones, a la Idol) was taken out by UTS group All Star Solutions, who proposed a nationwide lipdub competition to raise awareness, and create a little cool for the brand. (If you are not sure what a lipdub is, follow this link.) Sophie Green, Ayumi Yoshida, Elizabeth Mercer, Jodie Rivers and Wai Yan Ha backed up an excellent presentation with solid research and smart analysis.

Microsoft Protégé was the brainchild of Oscar Trimboli, Director, Information Worker Business Group Australia at Microsoft. It was open to undergraduate marketing students enrolled in any university marketing course or TAFE college.

The initiative was embraced at UTS by marketing academics Simone Peres, (tutor to the winning team), Dr Kyuseop Kwak and Chelsea Wise, who worked together on the original brief so that it could be incorporated into the work of the 14 week Research for Marketing Decisions course: ‘From week 1, my students simply began working on the MS brief, like they would do in any typical semester. Except this time the problem was a real-life problem. With a real incentive too. Paid work experience for the winning team!’, explained Ms Wise.

Microsoft received sixty submissions which were whittled down over a two stage judging period to the final six who were invited to present at the Grand Finale. Four out of the six teams represented the University of Technology, with excellent entries from Macquarie University and Sydney University.

All entrants clearly had eyes on the internship prize, which represents a unique opportunity to test classroom skills in the very tangible world of budget constraints and deadlines while learning from the high performing Microsoft team.

But the winning Titans had a look that suggested they were thinking beyond the month’s internship, and that they would only be satisfied when they had secured the keys to the executive bathrooms.

Edition 2: Branding Sydney

Friday, May 21st, 2010

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This week’s edition of Business21C Weekly continues the TEDxSydney theme, with Peter Holmes a Court, chairman of Greater Sydney Partnership (GSP). Peter is hosting the TEDXSydney after-party as part of a broader conversation about Sydney, and is working with Business21C to take the conversation online through twitter using #sydneyin6words.

GSP is a new not-for-profit organisation set up to coordinate Sydney’s presentation of itself to the world. Chaired by serial entrepreneur Peter Holmes a Court, it is sparking a conversation across Sydney about Sydney – what is it that is dearest to the hearts of Sydneysiders? What makes this city unique in a world crowded with classy, dynamic, connected, creative cities? What do you love about this place and why? Why do you choose to live here?

One of the GSP’s core projects will be to define a brand for Australia’s iconic city. Peter tells us what it means to harness community passion and community values to create a brand as recognisable as I♥NY, and as resonant as Eternity.

We talk to Peter about his career as a serial entrepreneur, what he’s done right, what he’s done wrong, and why – after a long international career – he chose to settle with his young family in the harbour city.

And we throw a challenge to devotees of Business21c Weekly: can you define Sydney in 6 words or less? Tweet your composition to #sydneyin6words as part of the broader conversation around what Sydney means to its people.

We publish a longer article about the SYDNEY? conversation here.