EW-HW2_Socialmedia

[|Andreas Weigend] Spring 2009-B EWMBA 267 Haas School of Business University of California at Berkeley
 * Marketing 2.x: The Social Data Revolution**

Homework 2 for EWMBA students (not for full time MBA students)
Assigned: Sun April 5, 2009 Part A due: Tue Apr 14, 2009, 5pm, feedback to students by Sat Apr 18, 2009 **[Edit 4/16]** Part B due: Sun Apr 26, 2009, 10am **[EDIT 4/19]** Seth Goldstein, CEO of SocialMedia will come to class on Sun Apr 26, 2009 Submit to: haas.ew.homework@gmail.com

You will work with a company to propose a strategy for word of mouth marketing and present a measurable campaign using SocialMedia.
 * 10 Second Description:**

Traditionally word of mouth refers to oral communication between people. However, with the emergence of social media, word of mouth communication about companies or brands can take place via multiple channels including social networking sites, video, email, and SMS.
 * What is word of mouth?**

Word of mouth marketing can be one of the most effective ways to reach consumers who are constantly bombarded by traditional advertising. By working with a company to develop a measurable word of mouth campaign, you will derive valuable insights for future marketing initiatives in your career. Furthermore, we are inviting Fortune 500 companies, start ups and the press to use your work as case studies. The top performing teams will be invited to a dinner with distinguished guests and given the opportunity to present their learnings to SocialMedia. **EDIT [4/19]** The top performing teams will have the opportunity run their campaigns on SocialMedia.com
 * Why should you care?**

How to create word of mouth campaigns with actionable attitudinal and behavioral metrics?
 * Challenge:**

This is a creative group project and you are responsible for forming teams of 3-5 students. You will be developing a word of mouth strategy for a company of your choice and presenting a measurable campaign using the platform created by SocialMedia. A simple example would be working with the company AAA. You would analyze previous word of mouth campaigns by AAA along with related examples from other industries before coming up with a strategy and campaign that includes online/offline components.
 * Overview:**

1. Analyze the history of word of mouth marketing and develop a strategy for your company
 * Part A: The Word of Mouth Strategy and Metrics**
 * Conduct a meta analysis of word of mouth marketing and highlight at least 3 exemplary cases that are useful for you company
 * Propose a strategy for your company that can be validated by word of mouth campaign experiments over time

2. Propose metrics for measuring word of mouth marketing
 * Propose 6-10 (total) key metrics which can be existing or totally new
 * How would you track word of mouth virality eg Twitter trends
 * How would you measure the sentiments of consumers?
 * How would you translate your metrics to actionable insights?
 * Explain the metrics from the perspective of technology platform owners, advertisers, and consumers
 * Evaluate the trade offs between metrics

Examples of good analyses: __WOM Meta Analysis__ __Strategy for the company__ __Metrics__
 * Part A Grading:** Mean 52/60
 * Some groups analyzed success factors of WOM marketing campaigns, rather than merely stating the history of WOM marketing.
 * Some groups took clear takeaways for their companies and reflected it to their marketing plans.
 * Some groups clearly stated the mechanism of spreading WOM in each cases, rather than just stating the contents of campaigns.
 * Some groups clearly defined "Who"(Target), "What"(Value Proposition), and "How"(Marketing/communication plan), and had consistency throughout the plan.
 * Some groups deconstructed the vague/ generic words - such as "create buzz".
 * Some groups developed the well-thought distinctive strategies that leverged their company's/ product's value propositions as opposed to "me-too" strategy/executions.
 * Some groups developed the market plans that aimed to generate WOM among both viral infleuncers and messengers.
 * Metrics that strongly tied with the contents of the marketing plan, as opposed to the data that can be easily obtained.
 * Comprehensiveness of metrics- Metrics that covers each marketing (wom spread) process and outcome of the campaign, and metrics for both current business status and for future prospect of the business (e.g. brand perception).
 * Unambiguous Metrics (otherwise those cannot be tracked)

1. Design a word of mouth marketing campaign for your company
 * Part B: Design a Campaign and Analytics Dashboard**
 * Tell us how you would actually execute the campaign along with your assumptions and predictions eg create a Twitter application
 * How would you respond to negative word of mouth marketing about your company?
 * What would you do to get people to say good things and change their attitudinal perception of your company?
 * **EDIT [4/19]** Design your creative banner ad(s) according to [|SocialMedia Opt-In and WOM Ad Specs.pdf]

2. Create a dashboard using SocialMedia for measuring your campaign
 * **EDIT [4/19]** First analyze SocialMedia's current metrics dashboard in [|SocialMedia_What's What_v3.pdf] and sample [|Olay Report as of 012809.xls] to clients
 * Next, analyze the pros and cons of SocialMedia.com's existing dashboard visualization (first 2 screenshots on "What's What") and metrics
 * **EDIT [4/20]** Now, tell us how SocialMedia.com's dashboard and metrics can be improved from the perspective of your company who may eventually use SocialMedia.com (or another similar company) on a self-serve basis (reference Olay Report)
 * How would you incorporate the metrics you proposed in Part A?
 * How would you visualize a metrics dashboard for making decisions about your campaign
 * Create a dashboard for monitoring your campaign(s) and community activity (this could be hand drawn if it's a better visualization)

1. Select a company and create a team of 3-5 diverse individuals
 * Steps to get this done:**
 * Each team should have different educational backgrounds, gender, and international citizenship represented
 * Please post your final teams here

2. Meet as a team asap to brainstorm and conduct word of mouth background research
 * Use whatever methodology works best for your team
 * Define roles and responsibilities

3. Review SocialMedia.com presentation, ad specs, sample report to client and dashboard. Video: http://signalburst.org/tintruong/socialmedia_deliverables/LiveNation/Flash_Units/Optin/
 * [Edit 4/19]**
 * [|socialmedia deck.pdf]
 * [|SocialMedia Opt-In and WOM Ad Specs.pdf]
 * [|Olay Report as of 012809.xls]
 * [|SocialMedia_What's What_v3.pdf]
 * Think clearly about how you can actually implement your metrics and any costs associated with your metrics
 * [**EDIT 4/21**]More examples of SocialMedia.com Ads:

1. Submit Part A by 5pm Tue Apr 14, 2009, to haas.ew.homework@gmail.com
 * Deadlines:**

2. Submit Part B by 10am Sun Apr 26, 2009, **[EDIT 4/19]**, to haas.ew.homework@gmail.com

1. The Word of Mouth Strategy and Metrics- 60 pts
 * How this assignment will be graded:**
 * Meta analysis of word of mouth marketing- 10/60 pts
 * Strategy for your company- 20/60 pts
 * Metrics- 30/60 pts

2. Design a Campaign and Analytics Dashboard- 40 pts
 * Concept of campaign and quality of creative banner ad(s)- 20/40 pts
 * Dashboard- 20/40 pts


 * EDIT [4/19]** The top performing teams will have the opportunity run their campaigns on SocialMedia.com