Marketing now has access to highly granular data, including the physical
location of an individual, as well as their click, search, social
networking, and detailed buying habits. In addition to the passive and
private parsing of prior purchase patterns, however, people now proactively
and publicly post their personal preferences: data has become "social."
This course explores the implications of what is called the "Social Data
Revolution" on marketing:
How can we offer customers better recommendations, based on their
own behavior and the behavior of their friends?
How can reputation systems help with decisions about whom to trust?
In an environment where customers increasingly reject traditional
one-to-many and one-size-fits-all marketing, how can we treat customers as
the individuals they are?
What are the benefits of such personalized interactions ... and what
are the risks?
We also discuss more technical aspects of the data revolution:
What data can we collect? Who owns this data? In this network
economy, what does it actually mean to own data?
How do we add a network term to the customer lifetime value formula, to reflect the strong influence on peers and friends?
As communication costs essentially approach zero, social costs and attention costs have become dominant. How do we optimize the
virality of a campaign while taking social costs into account?
Cognitive and psychological aspects have become measurable and actionable at the level of
the individual:
How can we design incentives to encourage participation?
What is the customer's ROPE (Return on Personal Engagement)?
This course distills insights gleaned from my experience with a wide range of customer-centric organizations. Some friends in the industry are also coming to class, complementing the curriculum with their own practical experience. (I usually tell them not to prepare a speech, but to be ready for a conversation with the class on topics they are excited about). For the Thursday FT course, we expect the following visitors:
Ted Shelton, CEO of The Conversation Group, who will share his experiences in dealing with clients who feel a need for Marketing 2.x, since traditional interrupt marketing has essentially stopped working for them. 02 April
Peter Hirshberg, Technorati co-founder and former Apple marketing executive, who will discuss the impact of social media on traditional companies, including transforming BestBuy (Google Zeitgeist, DLD'09). 09 April
Mark Choey, cofounder and partner of Climb Real Estate Group, a rapidly growing real estate group in San Francisco that leverages Marketing 2.x ideas very successfully, will explain what worked and what didn't, and give his vision of the future. He also co-founded the real estate development blog SF New Developments.16 April
David Riemer, Executive-in-Residence, Haas Institute for Business Innovation, and former Vice President of Marketing at Yahoo discusses the role customers play in evolving the product, including the feedback mechanisms in Web 2.0. 23 April
Sean Ammirati, CEO of mSpoke and Walker Fenton (NewsGator), who will reveal the next generation of tools for corporations to create actionable insights from the live web, and leverage the collective intelligence of their workforce behind the firewall. 30 April
For the two days of the Sunday EW course, we will have:
Bjoern Woltermann, Head of Social Media Services and Community at Scout24, the European conglomerate of Web2.0 companies across major verticals (real estate, jobs, dating, cars, travel). 05 April
Seth Goldstein, CEO of SocialMedia, formerly of RootNetworks and Majestic Research. Besides being a true visionary and deep thinker, he has generously agreed to sponsor the word of mouth assignment by providing the tools and expertise to make this a relevant and effective learning experience. 26 April
Dr. Andreas Weigend was chief scientist of Amazon.com, where he helped
create a customer-centric, measurement-focused culture. He now works with
exciting firms, leveraging the principles of
the social data revolution for product innovation and new business models.
The companies that have benefitted from his input range from
Best Buy (incentivizing employees and customers to create content) to gay.com (designing algorithms for discovering and matching people), Lufthansa (innovating their frequent flier program), Alibaba (coaching the company towards a data-focused organization), MySpace (monetizing the social graph), and Nokia (advising on data strategy and digital marketing).
Andreas is passionate about the Social Data Revolution. In addition to
sharing his passion through his teaching and writing, he gives keynotes at
international events. In 2009, he is scheduled to appear alongside
individuals including Philip Kotler, Dan Ariely, and others.
As a doctoral student in physics at Stanford, Andreas analyzed and explained
the traces of elementary particles. As an associate professor at NYU's Stern
School of Business, he turned to the traces of traders on Wall Street, and
subsequently to the traces of users on the web. He has published more than
100 scientific papers, and shares his insights at Berkeley (Marketing 2.x),
Stanford (Data Mining and Electronic Business), and Tsinghua/INSEAD (The
Digital Networked Economy).
Andreas lives in San Francisco, Shanghai, and on weigend.com.
Email:
Click on an airport to see when I'll be there : all
