Resonance Rules Predictive Analytics #IN Great Web and Social Media Marketing
2011/01/09 Leave a comment
Predictive analytics offers the promise of predicting the future to business executives that direct people and resources to deliver products to markets globally across Web and Social Media channels though in our experience the future is difficult to predict until it happens.
Many simple and proven tools are available to help businesses predict and prepare for what may happen in the future like scenario analysis where clusters of stories are combined to represent possible future states from different perspectives of the business, its customers or other relationships that span extended business value chains.
Predictive Analytics and Global Supply Chain Risk
In the course of adapting to global competitive pressure business has adopted global supply chains as means to survive and thrive. The idea behind extended supply or value chains was that all non-core, high risk or high cost processes would be sourced externally to ensure profitably in turbulent markets.
Risk reduction and the quest for higher profits drove global supply chain and outsourcing trends.
The markets or rather customers seem to have their own ideas and now have access to almost an unlimited array of products globally. Businesses have started to see that customer demand may change faster than it takes to deliver a product shipped internationally or even faster than a heavily managed software project.
Predicting the Future like Shell Oil
SpeedSynch scenarios are used to align products or content to customers via a scenario or a cluster of stories that represent a possible future.
Scenarios were brought into the business limelight by Pierre Wack lifted the creation of Scenarios to a high commercial art and honed his skill at SHELL OIL and SHELL has fantastic resources describing their scenarios and how they are created.
Success, Risk and Resonance
Success in business is most often confused with precision, formulas and plans though it appears that after you plan life, life just happens.
When a business plan goes in one direction and their customers go in another we say that the business value didn’t ‘resonate’ with the needs of their customers or simply the business was not successful in serving their market.
Branding and advertising helps increase the resonance of our content and products with customers and reduce the business exposure to market risk. Business executives are also focused on finding ways to ‘predict’ the future to help them focus on opportunities and direct resources in search of profit.
Resonance Rules Prediction Marketing
Internet marketing changed very little since marketers discovered how to successfully market on the internet, first with Yahoo about 10 years ago and afterwards with Google ads and Search Engine Optimization or SEO.
New Media, TransMedia and Cross Media Value
The intersection of Old Media and Web2.0 has created a New Media, that’s for sure, but what else is happening?
There is a growing interest in TransMedia or Cross Media, the ability to engage people by taking a story and delivering it in different places, spaces and times appears to be a faster, simpler and more flexible future for creative marketers and their customers who want to break out of the crowd.
TransMedia helps people create their own engaging story and Resonance is about understanding the relationships that create market value.
Current TransMedia Perspectives
Sylvester Stallone shows TransMedia types what to do as he subtly elbows out Leonardo DiCaprio and Angela Jolie out of the way by driving his movie Expendables past Inception and Salt.
The SpeedSynch Resonance Map below shows the Resonance Map created by Sylvester Stallone.
0. Blackberry Twitter app shows Stallone top of Twitter trends worldwide 2010.07.24
1. Check Google volume on Twitter
2. Go to Twitter to find waves of ‘buzz’ tweets — looks like Brazilians tweeting millions
3. Go to Movie site to see when Slyvester Stallone movie is being released — August
4. Find Stallone Expendables movie press releases
5. Use SpeedSynch to create Keyword Theme maps for SEO competitive analysis
6. Review SpeedSynch SEO competitive analysis maps and keyword theme weights
7. Deep dive SpeedSynch Maps show detailed SEO competitive analysis
8. Compare DiCaprio’s INCEPTION with Stallone’s EXPENDABLES Resonance Maps
Resonance Marketing Rules
In watching Stallone go to work on his competitors in a TransMedia or Cross Media format where the marketing story is spread across multiple media channels globally it is easy to miss the real value behind the success—customer Resonance.
People who go to movies, just like any potential customer have an affinity for a brand and a product, and Stallone’s marketing push with Twitter focused attention to Expendables and away from Inception.
Resonance, Marketing and Product Sales
Applying Resonance Marketing to product sales is a simple process.
1. Craft marketing stories to appeal to multiple customer perspectives or Persona in multiple languages, cultures and markets.
2. Focus on relationships between People, Process (work) and Content.
3. Facilitate and accelerate learning to boost engagement and sales.
Note: A Persona mask represents customer perspectives or behaviours and may be worn or removed as needed. We build Persona masks by mapping Customer ‘Resonance’ by understanding their perspectives from the content they prefer, post or other information provided.
Persona masks illuminate stories, processes and probabilities so that we can serve anyone behind a Persona masks regardless of the market segment to which they have been assigned.
SpeedsSynch Resonance Maps help predict future Persona behaviours important for Prediction Marketing.
Resonance Predicts Customer Behaviour Changes
Traditional marketing models have a difficult time adapting to constantly chaning customer behaviours.
Understanding and aligning the Resonance of Products, Content and Processes allows the business to see when customer needs or behaviours change according to their Resonance.
Products, Risk and Prediction
The art of prediction, highly valued by marketers, accountants and bookmakers starts by understanding what has happened in the past in order to determine what may happen again in the future.
Typically market researchers take past behaviours and adjust for anticipated changes in the future and create an estimate or guess of what might happen where they create a story whether it is based on a ‘feeling’ or supported by hundreds of spreadsheets as what happens tomorrow is best seen a few days afterwards.
Obvious risks of what may happen in the future are arbitraged as close to zero by using different techniques such as buying insurance or using a portfolio investment approach.
Prediction, Forecasts, Sales and Profit
We show our clients how to apply scenarios and Resonance to quickly identify change, opportunities and reduce risk in their product innovation, manufacturing and sales cycles.
We craft Persona Masks to predict future customers behaviours or how customers will Resonat.
A Persona mask is ‘crafted’ by linking stories and numbers to customer perspectives to infer possible future behaviours and since we can never know exactly how behaviours will occur in the future we use Scenarios to determine a range of behaviours and get a sense of the potential range of customer behaviours that may occur in the future. If this seems a little strange consider the profession of Finance and why accountants forecast. A financial forecast directs business activity and sets measures of success.
Stories are behind the numbers carefully constructed by accountants in plans of one, two or more years. Accountants convert stories to numbers and place them in a structure called a chart of accounts and then manipulate numbers for the rest of the year in a way that separates them from the stories that were at their core. Indeed accountants ‘map’ out the future of the business with numbers rather than stories.
Our practice is to blend stories, numbers, maps and storyboards to avoid the common trap that marketers and accounts fall into as they manipulate numbers and stories independently of each other. This ‘split’ causes stories and numbers that started at the same place to get out of sync with each other. Our Resonance maps align Products to Customers by employing content.
Stories and numbers must Resonate with customers or the business gets out of harmony across its value chain which typically results in something breaking, relationships or profits.
Mining Hidden Value with Resonance Analytics in Global Value Chains
ROI Re-Capture is another benefit of using Resonance to understand where to find the expertise, stories or content value useful for internal projects or external marketing campaigns. No need to re-invent the wheel, just find the value or content hidden along your global value chain according to what is needed for success.
Reversals in Outsourcing and Global Value Chains
Currently we see the manufacturing and service support of key products and processes moving closer to customers to minimize the risk of extended supply chanins that include customers behaviours changing faster than products or projects can be delivered and risk associated with privacy or legal E-Discovery issues.
Contact us for more information about Predictive Analytics, Resonance and the tools needed to deliver high value to Customers that change quickly.