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Brand perception and volunteering

Brand strategy planning requires accurate and transparent consumer and market intelligence, or you’re starting at a deficit. With endless amounts of data available online, the trick is sorting through it quickly to extract meaningful, actionable insight. And we’re going to show you how!

And our recent report on The Importance of Market Insight for Brand Strategy pairs well with our 2020 Report on How Social Analytics is Important to Brand Management for this purpose. Each covers a portion of this massive ‘brand perception’ conversation, breaking it down with insight around:

  • Understanding your category – analyzing trends and movements to help your brand stay on top
  • Competitor studies – know what your competitors are doing and why it’s working or not – and learn how to apply these learnings to your own brand planning
  • Finding the next million-dollar idea – identify white space and use it to your advantage.

And some stats to keep in mind as you read this report summary:

  • By using social listening, one brand made $2 million within minutes of announcing its launch via Instagram.
  • In 2018, 51% of brands earning more than $50M in revenue were reporting budgets of less than $25k for social analytics even though it was ranked an essential tool by these same brands.
  • Within the streaming industry, 16% of the companies launched were in the music streaming space, followed by gaming/virtual reality/robotics and esports. Industries that offer a potential ‘in’ for many brands who’ve yet to consider them. And maybe they should!

how to make sma work for you

Brand Health Starts & Ends with Insight

Knowing who your customers are and what they are saying in real time, having the right data, is integral to running a successful business. Brand health starts and ends with consumer insight, and in knowing what the conversation is around your company, so you can:

  • Analyze social conversations that are increasing, so you know where and how to engage
  • Pinpoint current events and geographical trends that affect brand health
  • Incorporate customer experience analytics into your business intelligence platform for real-time assessment
  • And much more!

COVID-19 reshaped the way consumers think. It has taught us that A.) We should wash our hands more and B.) Consumers are unpredictable. And companies need to constantly read the room to protect their brand health.

Not only that, using market research can help you identify your target audience and their spending habits.

Millennials make up 41% of the world’s population. And retail is the number one expenditure for this demographic.

Top-clusters-for-millennial-spending

And how brands reach out to this key demographic is important. The brand ambassadors or influencers they partner with can make or break the effort. Some companies seem to be aware of this, as 17% of them spend over half their marketing budget on influencers.

And understanding the “what” to the “who” is vital. Using AI-powered social analytics helps a brand reveal that “what” . . .

how to make sma work for you

Social Analytics Shows What Consumers Care About

Equal Rights are a focal point as protests and unrest have become a large part of the news cycle. And it’s causing brands to rethink their own actions and how they are viewed in light of it.

Understanding that is an important moment in time, Disney quickly read the room and created content expressing solidarity.

Disney-taking-antiracism-stance-and-solidifying-brand-perception

Monitoring brand perception and overall conversation allowed Disney to connect authentically with its audience. And this is something H&L Partners, a full-service creative agency, was able to help Cache Creek Casino do as well. They won new business with social insight data.

H&L was able to identify “premium” positioning that resounded with what this audience, and the larger gaming community, was seeking, thanks to social listening. What did this premium positioning consist of? We detail it in the Brand Management Report!

And when you need to see where the conversation is headed beyond today, or where it’s been, market intelligence traces shifts and changes in a brand’s trajectory.

Market Intelligence Key for Monitoring Possibilities

Monitoring media conversations is telling – specifically around who is reporting. And it gives you the tools to discover the white space in between.

This news narrative analysis gives us the skinny around Netflix during lockdown, and the conversation is large. The more prominent themes are greater in size, such as Netflix Stock and Best Shows on Netflix.

Netflix-conversation-and-brand-perception-intel

Smaller conversations can illuminate segments that hold promise and possibility for your business to be first to discover something new and exciting. Here, we can quickly identify news coverage for a multitude of subjects using a scatterplot. Right away, we see Netflix Stocks sitting pretty in published count and social interaction. This means that a good number of pieces were published about the stock, and there was a decent amount of social engagement as well (people sharing articles about it):

Netflix-through-lens-of-social-engagement-and-published-count-and-how-it-ties-into-brand-perception

And we can see what sort of streaming content consumers are watching most frequently by setting different filters to adjust the view:

bar-chart-of-what-consumers-watch

There are really endless ways to slice and dice the data. And we detail many of them in our report on The Importance of Market Insight for Brand Strategy and our 2020 Report on How Social Analytics is Important to Brand Management.

Be sure to download each and reach out for a demo as well! We can show you how this all works together when you do.

how to make sma work for you

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