Session summary of the Marketing Research Association 2011 annual conference. These are my interpretations of the session. They were written during the session and posted immediately afterwards. Any inaccuracies and silliness are my own.
Keynote: Advertising Research in an Integrated Media Environment
Daniel Slotwiner, Facebook
- Remember 1999? Austin Powers and the Matrix. Online data collection was supposed to solve a lot of problems due to declining response rates and eroding sample frames, decrease costs, increase turn-around time. We spend a lot of time validating the medium and replicating the offline world. 50% of data collection is done online now. Adoption happened.
- There is value in scale. Internet penetration is now relative flat. But the amount of time, pervasiveness, content on internet is now completely different. The internet USED to be anonymous.
- The web is organizing around people. Businesses are reorganizing around people, not websites. Reorganizing around people delivers results. Gaming is reorganizing – Farmville, zinga, Xbox. News is organizing around people, NY times, Twitter, Huffington Post, 43% of news sharing occurs through social media. Music is organizing around people – Pandora, Spotify. Institutions are organizing around people – Red Cross text donations, British monarchy.
- Facebook – 600+ million worldwide, 1.56 billion pieces of content shared every day, 110 million status updates every day, real name, real culture, attitude chatter and interest data. Mission – give people the power to share and be connected.
- Research Polls – “novelty polling unit” built on ads infrastructure for targeting, no more than 100 characters in question, single select radio button à very powerful, don’t need bells and whistles, make do with simple, have pushed much farther than they thought, you can do a lot with very little. RR 100% higher than click rate on links to offsite surveys. Dramatically increases speed of surveys. You hear from consumers you might not otherwise hear from.
- Facebook tracking of Obama results was extremely similar to Gallup and Rasmussen measures. They use a unique algorithm to do so. (Not surprised! People are people no matter where you go.) Bin Laden boost was also seen in Facebook data. Validation is important. Can predict consumer confidence index very well – Facebook collects data more often so they get more granular trends. Also good with intent, attendance, and weekend gross of movies.
- Facebook ads increased awareness of movies by up to 8% points. Ads increase intent by up to about 2% points. Nice scatterplot with very few outliers though quite the tail.
- Have evaluated effectiveness of “100 people like this” vs. “these five of your friends like this.” People who have friends see the friend version. Friend version has 1.6X lift in brand recall, 2X lift in brand awareness, 4X lift in purchase intent. (holy cow!) Word of mouth at unprecedented scale. Fanbase are your high value consumers. Friends of fans bring in 527 million people for the Starbucks brand.
- Value is not at the “like” click. Fans are already high value consumers of the brand they like.
- Standards for online? So much data, all this money, which one works? Where should they spend their money? Standards that are comparable across media do this. Reach, reception, Resonance, Reaction – These are the four areas that can be measured on TV and online.
- A lot can be done with a very simple tool. SHORTEN YOUR SURVEYS. (did you hear that? J ) Reduce the burden, reverse the trend.
- What is market research? #MRX (lovestats.wordpress.com)
- #MRXblogs – It’s new and it’s fabulous #MRX #NewMR #NGMR (lovestats.wordpress.com)
- The Zoo that is Market Research #MRA_AC #MRX (lovestats.wordpress.com)
- How Heidi Wilson Won a #TweetFeel T-Shirt #MRIA2011 #MRX (lovestats.wordpress.com)