social media monitoring/reputation management consulting project for restaurant revenue management

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DINOSAUR BAR-BE-QUE SYRACUSE, NY Reputation Management & Social Media Elizabeth Kelly Sara Kim

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Pitch presented to COO of Dinosaur Bar-B-Que Chain for implementation of a new reputation management system. This was the final project for Restaurant Revenue Management with Professor Sherri Kimes.

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  • 1. DINOSAUR BAR-BE-QUESYRACUSE, NYElizabeth Kelly Reputation Management & Social MediaSara Kim

2. Table of Contents What is Reputation Management? Reputation Management Strategies Public Relations Maintenance Operational Analysis Profit Generation Recap of Goals Recommendations 3. REPUTATION MANAGEMENT respond to any negative comments and to apologize and remedy the situation secondary goals are to identify trends in comments, reviews and to use the for positivereinforcement and to train potential opportunities of improvement to the staff promote our food and that Dinosaur is considered a must try restaurant5 star reviews 2 starreview 4. REPUTATION MANAGEMENTSTRATEGIES$$$ / Time$PROFITGENERATORtracking, drivingstrategy, promotionaldecisions based on dataOPERATIONAL ANALYSISsocial intelligence gathering,analyzing, categorizing, identifyingoperation issuesMAINTENANCERespond to positive reviews to build customer loyaltyand increase likelihood of word of mouth marketingPUBLIC RELATIONS/DAMAGE CONTROLCorrect information is disseminated, bad reviews are addressed,and promote brand visibility 5. PUBLIC RELATIONS Aggregates online reviews Identify low-rated reviews Dinosaur responds accordingly 6. MAINTENANCEDinosaur BBQ Online ReviewsName of Site Rating Reviews Votes PriceTripadvisor 4.5/5 434 n/aYelp 4.5/5 360 $$Google 24/30 205 $$$Four Square 9.5/10 98 9479 (check in) n/aUrbanspoon 92% 91 1236 $$Yahoo Travel 4.5/5 60 n/a40Beer advocate 91/35100 23 $$$Citysearch 3086% 7 n/amenuism 4.2/255 5 >$1020Roadfood 4./5 3 5815* information as of 9/171050Number of reviewsReviews Per Month By Website: 2011-2012Sep-11 Oct-11 Nov-11 Dec-11 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 Aug-12 Sep-12TripAdvisor 20 16 15 10 14 25 22 27 24 21 37 38 13Yelp 12 3 6 6 8 5 8 8 11 19 14 12 7Google/ Zagat 1 2 3 4 5 6 7 8 9 10 11 12 0Four Square 7 3 5 3 4 3 5 3 5 2 8 3 2Urbanspoon 1 1 1 2 3 4 3 1 4 2 3 4 0 7. MAINTENANCE 8. STRATEGIC WEB RESPONSE Target heavy users Build customer loyalty Further increase consumer engagementBrandAmbassadorWord-of-MouthMarketingContinuationof Low-CostMarketingMAINTENANCE 9. MARKETING vs. OPERATIONALANALYSISMarketing Monitor and engage social feedback Increase visibility Achieve consumer loyalty throughlistening Outbound communication respond to any negative comments andto apologize and remedy the situation Advanced DigitalOperationalAnalysis Collect and analyze feedback Translate reviews into data-driven,actionable insight Identify operation issues toincrease customer loyalty Inbound communication Identify trends in comments/ review Advanced Digital 10. Sentiment Analysis5 starreviews2 star reviewVS. Simply using wordfrequency as ametric is not usefuland offers littleinsight Sentiment analysisuses not only wordfrequency but alsoextracts the contextin which words areused 11. OPERATIONAL ANALYSISSocial Media+ Sentiment Analysis = Social BusinessIntelligence Develop existing social media relations Strengthen brand and customer loyalty Proactive vs. Reactive External analysis vs. Internal analysis Social media maturationDiscoverAnalyzeProfit 12. OPERATIONAL ANALYSISPrice: $75/monthProcess: Revinatetakes unstructuredonline content and usessentiment analysis forsophisticated trendingbased on generalrestaurant categories.Pros:- Sentiment analysis- Server input andreview- Manage Twitter,Facebook, andFoursquare fromdashboardCons: $$$ 13. PROFIT GENERATIONUsers canuse feedback inreviews to makeoperationalchanges viaWorkflowManagementTools or rewardemployees withthe serverfeedback loopsystem. 14. OPERATIONAL ANALYSISPrice: $99/ month/ locationProcess:1. Sentiment analysis based on reviewsites and social media2. Break feedback down into rootpieces and translate into specificrestaurant3. Builds feedback back up andalgorithm breaks into clouds of over 50specific categories using advancedeconometric analysis4. Then user can identify operationalissues by the positive and negative toloyalty generating topicsCons: $$$ 15. Difference Between newBrandAnalyticsand Other Reputation ManagementServices Partnerships with POSdata vendors wherePOS data is correlatedwith social intelligencedata Social HarvestingEngine uses industryspecific indexing Social Credibility Indexqualifies mentions withassociated credibilityon a per customerbasis Industry SpecificIntelligence Provides user-availablefeedback data andconsultation on resultsfrom sales, promotions,and other changes thatthe restaurant hasundertaken 16. PROFIT GENERATION 17. Goal 1: Negative social mediaresponseAdvanced Digital (Currentsystem)New Brand Analytics 18. Goal 2: Identify trends incomments/reviewsComparison of 30 Day SnapshotAdvanced Digital New Brand Analytics 19. RECOMMENDATIONSProfitOperationalAnalysisMaintenancePublic Relations 20. RECOMMENDATIONSPublicRelationsMaintenanceOperational Analysis OperationalAnalysisProfit Generation