Tag Archives: Social Media

Live from the Workshop on Social and Business Analytics

“We have to unite the art and science of marketing. The MadMen and the MathMen.”

This post was created as a live blog from the Workshop on Social and Business Analytics (#McCombsWSBA) at McCombs School of Business on March 28, 2014. I’m not a data scientist, and much of the material presented was way over my head, so I’ll apologize both to the readers and the presenters. I know I got some of this wrong, and the rest is stated in an overly simplistic way.

Perhaps I’ll pull it down later, but for now I’ll leave it up as a resource for others who attended and want to recheck their own notes.

Welcome & Logistics: Rajiv Garg, University of Texas

Rajiv Garg is a new faculty member at McCombs, in the department of Information, Risk, and Operations, and he has played a primary role as an organizer and promoter of this event. For the first workshop of this kind at the university, that I’m aware of, he has managed to assemble a stellar list of guests and attendees.

Welcome Remarks: Janet Dukerich, Sr. Vice Provost, University of Texas

Purpose of this session is to bring industry and academics together. We can produce massive amounts of data, but how we manage to make sense of this data is a critical area to explore. There are enormous policy considerations in the management of these data. 

Session 1: John S. Butler, Chair

Shyam Venugopal, Frito-Lay/Pepsico “Analytics as an Organizational Change Force”

Frito-Lay is no longer on the sidelines on how to use business analytics as a decision tool. 

You don’t have to understand every complexity of analytics. Figure out how to organize the data and the questions. The “sexy tools” aren’t going to get you anywhere. 

When the CFO leaves a company, who do key metrics and processes stay in place, but when a CMO leaves everything changes? The reason is that marketing lacks metrics and processes that reliably tie our activities to financial return in a predictable manner.

This is easier said than done, because the world is very complex. It can be quite overwhelming to get to our consumers. We have to unite the art and science of marketing. The MadMen and the MathMen.

Frito-Lay centralized our marketing decision making for all of our brands, so that what works for the individual brand must also work for the entire portfolio.  This was a difficult transition. “Toto, I don’t think we are in Kansas anymore.” Continue reading Live from the Workshop on Social and Business Analytics

ABSAP Conference – Social Media Best Practices and Lessons Learned

When we talk about best practices we aren’t speaking of a particular social media technology or the latest technique.

My personal notes for a panel discussion on social media in higher education.

1. What are some tips on generating more engagement through social media?

Summary: Social media demands that we break the pattern of always talking about ourselves, an easy trap to fall into, because as professional communicators we’re paid to get exposure for our message. In the social media scene we risk becoming the party bore. No one enjoys being trapped at a party with someone who wants to drone on and on about themselves and their interests, or even worse, the chap trying to market the latest home business. With social media no one is trapped in your presence, they can ignore you at any time, so it demands we be sensitive, skillful and emotionally intelligent.

Social media in higher education best practices include:

Continue reading ABSAP Conference – Social Media Best Practices and Lessons Learned

The Stock Market Listens to Your Twitter Brand

“The chatter changes and the stock price changes.”

Twitter NetworkCiting results that surprised the researchers, a new study claims that Twitter conversations about a company or product have a direct relationship with the firm’s stock price. If online chatter goes up so does the market valuation.

While previous research had demonstrated a positive relationship between Twitter conversations and sales, this was the first time a strong connection to stock price was shown.

From Texas Enterprise at The University of Texas at Austin:

“It surprised the daylights out of me,” McAlister says of her latest analysis of chatter’s effect. “I had thought it might have something to with sales. I thought sales might have an impact on brand equity. And there might be a remote impact on firm value.”

But the relationship was stronger and faster moving than that. “It’s immediate,” she says. “The chatter changes and the stock price changes.” This sort of information is of interest to investors, and some hedge funds have already begun using online chatter to guide investment strategy.

If you’re looking for ammunition to convince your executive team to take social media seriously, these experts just handed you a sky rocket.

Read the full story at Say What? Research Reveals Impact of Web Talk by Mark Henricks, writing for Texas Enterprise.

ProductCamp Austin Summer 2010 is this Saturday at UT Austin

So register today and I’ll see you there on Saturday.

There is only one problem with ProductCamp Austin. They insist on running their name together like it is one long word.

ProductCampAustinSummer2010. Quick, take a breath then try again.

But everything else about this unconference of marketing and product management professionals is first class.

“ProductCamp is a bunch of smart, passionate people coming together to discuss, debate, and collaborate on the issues they face every day.”

Many of us have paid registration money and traveled to faraway cities to attend professional conferences that are no better than what ProductCamp offers right here at the beautiful AT&T Executive Education and Conference Center.

For free.

Continue reading ProductCamp Austin Summer 2010 is this Saturday at UT Austin

Digging Deeper on Social Media: Conversations Beyond the Basics

We have succumbed to the rat race of social media and forgotten its true purpose in our businesses – to build relationships.

Tim Hayden [right] of Blue Clover joined with a few social media colleagues, Chris Brogan, Jason Falls and Sam Decker, to host an “unofficial” SXSW conference at the AT&T Executive Education and Conference Center, entitled Get Ready 2 Live (GR2L). Their goal was to carry the social media conversation to a deeper level than what they were finding at most of the SXSW sessions.

Everyone there seemed to share the same sentiment, that it is time to move beyond the “social media is great, everyone dive in” mentality, and explore the kinds of relationships we are trying to develop with others, and why those relationships are important.

Since I was too lazy to take notes, I’m delighted that Alicia Arenas of Sanera People Development Company prepared a very nice synopsis of the discussions.

Thanks Alicia for The Next Social Media Revolution. An excerpt here:

Continue reading Digging Deeper on Social Media: Conversations Beyond the Basics