Academically-Practical and Practically-Academic
Learnings in Interactive Media
Wharton Interactive Media Initiative
Steve Ennen
Managing Director,
Wharton Interactive Media Initiative &
Wharton Lab for Innovation in Publishing,
Lecturer in Marketing
www.whartoninteractive.com
WIM I OV ERV IEW
WIMI is a global research center
working with leading companies and researchers
• Brings a passionate data-driven perspective to media businesses
(content distribution and information acquisition) in a way that no other
business school in the world can match.
• Distinguishes itself with a tight focus on the interaction between content
provider and user, capitalizing on the wealth of individual-level data that
is exploding at the crossroads of commerce, technology, and
entertainment.
• Is dedicated to bringing world-class research rigor to better understand
these complex interactions in order to drive new business strategies and
tactics that will reshape the media landscape.
W H A R T O N I N T E R A C T I V E M E D I A I N I T I AT I V E
W IM I GL OB A L IN F R A S T R U CT U R E
Global network of research partners
Wharton Lab for
Publishing WIMI
Research,
Innovation Student Placement
Interns,
Partners
W H A R T O N I N T E R A C T I V E M E D I A I N I T I AT I V E
A C A D E M I C A L LY P R A C T I C A L I N T E R A C T I V E M E D I A 2 0 0 9 - 1 0
Social Networking: Jan 2009 Impact and Emergence of UGC:
Dec 2009
Mobile Marketing: 2011 Cross-Platform Data: Dec 2010
COMING IN DECEMEBER 2010
Modeling Consumer Behavior in Social Media: Analyzing the Role of
Geographical Location and Multichannel Usage in Microblogging Platforms
Anindya Ghose and Sang Pil Han
***
Seller Strategy in B2B Multichannels: Auctions, Buy-Now Pricing, and Price
Discovery
Ernan Haruvy, Sandy D. Jap, and Robert Zeithammer
***
Multichannel Customer Behavior in Customer Support Services
Kinshuk Jerath, Anuj Kumar, and Serguei Netessine
***
How TV Advertising Affects Online Search
Mingyu Joo, Kenneth C. Wilbur, and Yi Zhu
***
Investigating the Impact of Multiple Communication and Marketing Mix
Elements in a Multichannel Environment
Ashish Kumar, Ram Bezawada, and Minakshi Trivedi
***
Modeling Multichannel Media Consumption: Multiplexing, Consumption &
Evolution
Chen Lin and Douglas Bowman
A C A D E M I C A L LY P R A C T I C A L I N T E R A C T I V E M E D I A 2 0 0 9 - 1 0
A Few Company Participants
Interface seems pretty practical
D O ES TH E GR E AT D I V ID E R EA L LY E XIS T ?
Academics Practice
Academically-Practical Practically-Academic
WH A R TON , S OC I A L N ET WOR KI N G D ATA , 2 0 0 9 :
Ansari, Koenigsberg & Stahl “Modeling Connectivity in Online Networks”
• Improved Predictions
– Social network data helps to improve predictions of
behavior above and beyond just behavior
+ >
• Popularity and Activity correlated across
relationships
– More popular social networkers are also more active
>
• Online popularity is a more important correlate
of online behavior than offline
– Online predicts online better than offline predicts
WH A R TO N , SO CI A L N ET WO R K IN G D ATA , 2 0 0 9
Hartmann
“Econometric Modeling of Social Interactions” (Golf Data)
Social Multiplier
A Social Influence
B
Give Lower Price to A to Exploit B
Maximize Total Dollars not “Myopic Dollars”
120 500
450
100
400
Greatest Price Charged to a Member of the Group
Lowest Price Charged to a Member of the Group
80 350
300
60
250
40 200
150
20
100
0 50
-1 -0.5 0 0.5 1 1.5 2 2.5 -1 -0.5 0 0.5 1 1.5 2 2.5
Maximum Social Interaction Effect in the Group Maximum Social Interaction Effect in the Group
Community Building
PRICING DIGITAL CONTENT (IYENGAR, ABHISHEK, BRADLOW 2007)
Popularity begets
Free Gets You popularity; but
Up The Charts how do you get it?
But, Free is Free!
Freemium
SOCIAL NETWORKS AND MASS MARKETING
WH A R TO N , SO CI A L N ET WO R K IN G D ATA , 2 0 0 9
Iyengar, Van den Bulte, Valente
“Opinion Leadership and Social Contagion in New Product Diffusion”
vs
“Managerial Calculus”
Network Intervention – In each city, the physician with
the highest in-degree is targeted and is persuaded to
increase his/her prescription by 10 units Higher Effectiveness
Detailing Intervention – Each physician is given an Influencers work “locally”!
additional detail.
CUT THROUGH THE CLUTTER
WH A R TO N , SO CI A L N ET WO R K IN G D ATA , 2 0 0 9
Libai, Muller, and Peres
“Untangling Customer Social Equity via Agent Based Models”
AAtechnique
techniquefor
forcomplex
complexsystem
systemmodeling,
modeling,which
whichsimulates
simulatesglobal
global
phenomenabased
phenomena basedon
onlocal
localinteractions
interactionsbetween
betweenunits.
units.
AtAteach
eachpoint
pointinintime
timemembers
memberscan
candecide
decide
Eachunit
unitrepresents
representsan
anindividual
individualmember
memberininthe
thesocial
socialnetwork
network whether to adopt a new product or to
Each whether to adopt a new product or to
remain non-adopters
remain non-adopters
Each link represents a communication tie between members
Each link represents a communication tie between members
Monetizing Your
Community Customer Social equity of
equity community
)NPV A(
No community $436.97
A has a $515.32 )18%( $78.5
community
W H Y IS I T IM POR TA N T TO LE A R N F R OM U G C?
• Public
• “Free”
• Spontaneous
• Passionate
• Evolving and live
• Temporally disaggregate
• Consumers self-select
WH A R T ON R ES E A R C H ON U G C , 2 0 0 9
Bayus
“Crowdsourcing New Product Ideas”
“The goal is for you, the customer, to tell Dell what new products
or services you’d like to see Dell develop.”
Daily: Feb 2007 – Feb (June) 2009
7,100+ ideas Variables Model
4,300+ ideators
170 ideas implemented (outcome)
Prior Experience
# prior good ideas NS
# prior reviewed ideas NS
New product ideas and their # prior ideas NS
# prior comments NS
ideators are not easily predictable
WH A R TO N R ES E A R C H O N U G C, 20 0 9
Feldman, Goldenberg, Netzer
“Mine Your Own Business: Market Structure Surveillance”
Text mine consumer postings compact sport old
Audi A6 67 345 56
Use network analysis framework Honda
1384 539 245
and other co-occurrence Civic
Toyota
methods of analysis to reveal the Corolla
451 128 211
underlying market structure
Is “classic” Marketing
Research dead?
WH A R TO N R ES E A R C H O N U G C, 20 0 9
Tirunillai and Tellis
“Does Chatter Really Matter? Dynamics of User-Generated Content and Stock
Performance”
Stock Price (adjusted)
UGC Chatter
Consumer Negative Negative
Chatter Opinion Chatter Expressions
Short Cum Short Cum Short Cum Short Cum
Term Term Term Term
Stock Returns ** 3.8 4.8 -2.1 -3.6 -2.9 -3.9 -3.7 -4.7
“You can take UGC to the Bank”
C H A LL EN G ES TO M EA S U R EM E NT
Impact is clear, but measurement can be challenged by
noise
• Soft metrics – meaningless or close to meaningless
• Faux metrics – fabricated by technology
• Data deluge
• Confusion
CUT THROUGH THE CLUTTER
• Engagement
(noun, verb, not a single metric)
“Seriously though, I am surprised that your analysis pegs me as one
of the most engaged users to your site. I subscribe to your RSS feed
via Yahoo, and eventually get around to reading each new posting,
but my access is very occasional. Your email to me was the first that I
was aware of the posting.”
posting on analytics site by its “most engaged visitor”
T O M O R R O W’ S M E A S U R E M E N T
The next challenge
The data collection radically increases speed through
Real time measurement
T O M O R R O W’ S M E A S U R E M E N T
Real-time measurement
MEASURING THE REAL-TIME WEB
MEASURING THE REAL-TIME WEB
MEASURING SOCIAL MEDIA SUCCESS
Four failures of measurement & analytics
1. Information is ineffectively shared within the organization
- Everyone in the strategic process needs to know
2. Goals and the metrics themselves are poorly defined -
You should not be spending money or building
campaigns just to bring people to your site, you must
bring people to your site with a specific goal in mind
MEASURING SOCIAL MEDIA SUCCESS
Four failures of measurement & analytics
3. Companies either don’t take action or take improper
action on results
The secret to truly successful marketing is actionable
measurement. Measuring your results alone isn’t enough; the
key to feeding them back into your sales and marketing
process.
4. No holistic or cross-platform synchronization
SUMMARY
• It is all about the data!
o In many cases, practitioners have it – academics want it.
o Scraping programs mean we can now all have it and in real-time.
• Convergence of problems between academia and practice, in
the interactive media space, has never been higher.
o Advances still need to be made on scale of academic methods.
WH A R TO N IN T ER A C TIV E M ED IA IN I TI AT IV E
[email protected]
www.whartoninteractive.com
W H A R T O N I N T E R A C T I V E M E D I A I N I T I AT I V E
