ListenLogic’s CEO Shares Insight with Wharton’s Advertising 2020 Initiative

The Wharton Future of Advertising Program has undertaken the Advertising 2020 initiative which has “enlisted thought leaders and visionaries from around the world to help us delve into this rich and important concept by answering two provocative questions: What could/should advertising look like in 2020? And what should we do now for this future?”

ListenLogic Co-Founder and CEO Vincent Schiavone was invited to serve as one of Advertising 2020’s thought leaders to share his insight on these two pressing questions. The focus of his piece is on how advertisers can leverage streaming big data hypercomputing today to gain real-time social intelligence on consumers to deliver the right relevant message at the right relevant moment to the right relevant consumer to drive ad efficacy and ultimately ROI.

Here’s a excerpt from Vince’s Advertising 2020 submission, entitled Leveraging the Social Revolution:

Advertisers are facing a revolutionary new normal that, while many may be aware of, very few have the technology, strategy and experience to exploit. This new normal is rooted in ‘always on’ social media networks that serve as real-time, continual channels, delivering contextual, rich intelligence broadcasted by individuals to their friends and often the world. If advertisers are actually listening, able to understand this intelligence and use it in real-time, this becomes a game-changing advantage.

Today, individuals broadcast exactly what they want, exactly when they want it. Continuous contextual data mining and streaming big data predictive analytics are driving the future of advertising with enhanced intelligence and unmatched relevancy. In other words, just right messaging, just in time. This level of immediate insight is the paradigm shift advertisers have been in search of for decades. However, few advertisers have determined how to conceptually leverage this big data challenge and fewer have the technology to take advantage of it.

By leveraging the wealth of real-time social intelligence, advertisers can know more about their consumers than ever before and contextually target them instantly, thus driving measurable ROI.

Know Your Customer

For nearly 20 years, advertisers have attempted to exploit the immediacy of the Internet to enhance campaign efficacy with faster responses and increased measurement. However, despite this speed, advertising has largely remained an exercise in one-dimensional broadcasting with the hope that the right message finds the right individual in the right channel at the right time not unlike print, sponsorship, broadcast and outdoor placements.

Today, social media provides a wealth of intelligence on individual consumers – provided directly from them. This reveals insight into consumer likes, dislikes, needs, wants, hopes, fears, tendencies, desires and even relationships, careers, demographics, income, current and future plans and decisions. Millions of consumers communicate exactly when they are entering a market through their social interactions.

The challenge for advertisers is delivering that right message at the right time by processing this intelligence in order to know the consumer better over time in order to interpret and respond to the consumer in milliseconds.

To read Vince’s submission in its entirety click here.

ListenLogic CEO Addresses Wharton Executive Program

With the National Constitution Center as a backdrop, ListenLogic Founder and CEO Vince Schiavone presented and discussed the advancements and applications of strategic social business intelligence to participants in Wharton’s LinKS Executive Program.

During the extended session, Schiavone discussed how sophisticated big data hypercomputing has taken social business intelligence beyond traditional narrow “buzz,” delivering of actionable, in-depth insight that is driving enhanced market strategy, product development, consumer understanding and market analysis for leading corporations who are leveraging the technology.

He also reviewed how streaming big data analysis is making significant advancements on corporate risk and threat detection for Risk, Legal and Corporate Communication Teams and introduced the next generation of customer relationship management for Marketing, Product and Customer Service Teams.

Schiavone reviewed several in-depth case studies of these advancements spanning the food and beverage, automotive, health, media and device industries.

LinKS@Wharton is an extensive executive leadership program that includes C-level participants and board members from the public and private sectors uniquely designed to address many of the largest corporate challenges facing the participants.

Schiavone is a regular featured participant with a variety Wharton programs, including the school’s Advertising 2020 program.

What is Social CRM? Part 3: Scaling social media engagement

In Part 2 of our What is Social CRM? series, we discussed some the major efficiency and scaling challenges facing large companies currently utilizing social media for customer service and marketing outreach. Today we look at ways in which Social CRM can be utilized to implement an efficient and scalable social media engagement program.

  • Integrate Business Rules – In order to create a repeatable process, brands should integrate current customer service business rules and develop a ‘Mission Matrix’ that puts objectives and goals at the forefront of the social engagement strategy.  Use the Mission Matrix to build a roadmap for customer identification and case escalation within your customer service and marketing outreach operations.  For example, create a roadmap to identify and escalate irate customers, product complaints and prospective sales inquiries.
  • Turn on the Social Media Firehose – It’s time to turn on the social firehose and listen to every brand mention, not just 1 out of 10 posts.  Many companies are already struggling to process the sampled data feed they’re currently receiving, so how can they scale to handle 10x the data from a firehose without adding 10x the Customer Service Rep staff?  They simply can’t.
  • Marry Man & Machine – Free up your Customer Service Reps from wasting 95% of their time sifting through social media posts to find actionable customer issues and focus them solely on handling the customer issues themselves.  CSRs are not human spam filterers, they’re too expensive and slow.  Leverage smarter technology to automate the sifting and categorization process and only send CSRs what they need: the real-time actionable cases.
  • Intelligently Triage – Automate the categorization, prioritization and queuing of cases based on your Mission Matrix and send these cases to your CSRs through smarter Social CRM technology.  Instead of reps processing cases in a purely time-based linear fashion, escalate the more important cases to the top of the queue so they can be addressed immediately.

Enterprise Social CRM uses smarter technology and processes to enable your organization to reach 10x more customers in 1/10th the time without adding CSR headcount.  By collecting all the social media conversations, automatically categorizing and triaging cases, and optimizing workflow around your CSRs, you’ll be on your way to becoming a best-in-class social enterprise.

What is Social CRM? Part 2: Understanding the Challenges

In our last post, What is Social CRM (Pt 1), we discussed the basics of Social CRM to help better define exactly what Social CRM is (or perhaps, what it should be). Today, we look at some of the major challenges companies are facing in their current social customer service and social outreach operations.

Implementing a Social CRM strategy

As Social CRM goes from idea to implementation, large organizations are quickly becoming aware of the challenges presented by a social media engagement strategy. Some of the main challenges:

  • Sampling Data – Many organizations are only getting a sampling of the social data out there from their data provider. Some as little as 1 in 15 posts on the brand. This is an obvious concern as many issues go unseen, and brands need visibility into the entire stream by opening up the firehose.
  • Noisy Unstructured Data – Once the social data firehose is opened, the sheer volume of social media data is overwhelming. Brands are quickly inundated with thousands of mentions that don’t meet their business rules.
  • CSR’s or Human Spam Filters – With that noise comes a shift in your employee roles and responsibilities. Instead of engaging customers, solving problems and fostering opportunities, your service reps spend 95% of their day sifting through irrelevant data to find actionable cases.
  • Slow Response Times – Without prioritized data streams, reps simply respond as they go along. This model all but guarantees that urgent cases or great opportunities will be missed. Social media engagement is all about timeliness.

Due to these challenges, major brands today have dozens of social media reps parsing through a dirty set of sampled data in an effort to engage with customers online. We will look at how to solve for these scaling issues in Part 3 of What is Social CRM? (Coming Soon)