Vince Schiavone, Chairman & CEO, ListenLogic
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.
In addition to the technology challenges, there’s an added burden to advertisers to enhance their sophistication because most consumers expect and even demand it. Consumers expect networks and advertisers to immediately deliver what they want, when they want it. And with the speed of consumers today, the timing of opportunities has dramatically shrunk in length and may only give the advertiser moments to engage.
The inability for social networks to deliver on the promise of relevancy rooted in the wealth of intelligence from their communities has created major backlash from advertisers, consumers and even the media, resulting in intense fire from all directions because of the irrelevancy and untimeliness of their ad delivery which widely depends on keywords and “cookies.”
Broken and Stale
“Cookies” can potentially point to an individual’s interests, however, they are severely limited, as are social network’s use of individuals’ “likes” as basic keywords to serve as clues to guess what they want. These tactics are often completely wrong, resulting in wasted impressions, wasted dollars and wasted opportunities.
The fundamental problem with “cookies” is that they provide stale information about consumer action days, weeks or even months ago. For example, if an individual visits a baby site, a “cookie” only knows that they visited and has no information on why they’re visiting, whether expecting a baby, have baby or are looking for a gift. No matter the visit reason, the individual will now likely receive advertisements for diapers and baby clothes for an extended period, even if they have no kids.
Conversely, with social intelligence, the context of the site visit can be learned in real-time, telling advertisers she’s expecting her second daughter this winter. This provides actionable insight to deliver the right ad.
The key for advertisers is to effectively understand continually shared consumer attributes from their contextual social conversations. However, with social networks unable to instantly identify the right consumer at the right moment and deliver the right message, advertisers are forced to look to outside solutions.
Although the level of sophisticated technology required is not widely available today, one company, ListenLogic, has a platform that can process over 200 million streaming classified operations (SCOps) per second. This platform is already being leveraged by leading corporations to gain valuable business intelligence from social networks. The solution allows businesses to have the “horsepower” necessary to process the continual mass of social data.
While ListenLogic’s methodology is simple to understand, its technology is extremely complex. Simply put, hundreds of millions of real-time social media comments are processed and filtered by a super-computing social intelligence platform every second. The remaining relevant intelligence is run through custom ‘mission’ super-models, built to identify exactly what the client is looking for to deliver immediate actionable insight.
These super-models can be as general or specific as the client desires, but allow for unmatched sophistication to deliver timely relevance. The specific detail they provide allows businesses to deliver the right messaging to drive desired action.
Levering the Revolution
So whereas social media has sparked a paradigm shift in an advertiser’s ability identify the right customer through the contextual content they continually provide, the social networks cannot deliver this at the right, relevant moment.
Insightful businesses are looking outside to get an inside advantage by leveraging the “horsepower” and “super-models” of ListenLogic’s social intelligence platform. This platform facilitates real-time processing, identification, understanding to deliver relevancy to drive action.
By taking advantage of real-time social intelligence advertisers can exploit an unmatched competitive advantage to dramatically increase ad relevancy and efficacy along with the ROI.