Restart Your Consumer Intelligence Clock in 2022
Mike Baglietto |
 04/28/22 |
5 min read

Restart Your Consumer Intelligence Clock in 2022

As we’re in the thick of things here in 2022, it’s time to take another peek under the hood at your social listening and give it a good tune-up. There’s no time like the present for a first-rate recalibration to restart your consumer intelligence clock and make this year the best one yet!

We’ll explore some of the benefits this reassessment offers, with a focus on:

  • Seeing what your brand looks like from a consumer and competitor’s perspective
  • The importance of customer segment exploration
  • The benefits of using an Intelligence Connector

As food for thought, here are a few consumer-related statistics we uncovered that you’ll want to keep in mind:

  • Gen Z and Millennials have spurred growth in e-commerce more than older generations. Together 33% of them have increased their online spending compared to 23% of Gen X and Boomers.
  • Gen Z income is expected to grow five-fold over the next ten years to $33T in 2030. This figure would represent one-quarter of all global consumer income and stands to surpass Millennial income by 2031.
  • Understanding your demographics is vital as Millennials tend to exhibit the least patience online of any generation, while Gen Z’rs are the most likely to eschew loyalty and bounce from brand to brand.

With that, let’s jump in someone else’s shoes for a fresh perspective.

Who Are You?

Let’s face it; it’s easy for brands to get caught up in the day-to-day minutia of running a successful business. So much so that sometimes the interests, wants and needs of your target demographics can shift right under your nose. This scenario happened a lot over the past couple of years.

That being the case, revisiting your baseline metrics through focused social media listening is the smart thing to do  throughout 2022 and beyond. How do consumers really feel about your brand messaging? Are you making your competitors sweat, or are they more concerned with a rival brand?

Let’s pretend your brand is a top consumer package goods company. And your competition is another top CPG brand who has a large slice of the marketing share. However, you are intent on growth. Revisiting your metrics establishes where you are today, versus where you want to be next year.

summary-metrics

In the quest to gain ground on your arch nemesis, taking a fresh look at your consumer intelligence using social media listening can help you spot shifting behaviors in:

  • Buzz and sentiment
  • Trends
  • Emotions
  • Likes and dislikes
  • Top authors
  • Top source

And as the past couple years have held surprise after surprise, taking an honest assessment of your brand health in the current social climate will have you better positioned to grow your  brand’s share of voice in the new year.

topic-comparison

Customer Segment Exploration

Adaptability is the key to staying on top, as everything shifts and changes as consumer opinion mutates over time. Brands need to be ready to move with it. Staying up to date on consumer and competitive intelligence will keep you moving in the right direction, guiding your steps as you go

And one integral part of this, is knowing your audience. Are you connecting your target demographic, or have they shifted over to another brand?

A demographic analysis gives us up to the minute insight as people talk about your brand online. We can explore gender, age, interests, professions and more. Below, we can see the interests of social media users discussing Brand A. Family, Religion, Sports and Politics all play important roles in their lives.

demographics

With this knowledge under our belt, it’s time to see how we measure up against our competition – and the crosstab analysis feature in the NetBase product is the perfect tool to do just that.

By bringing both of our ‘company’ topics into the analysis, we can then add relevant themes to determine where we stand against the competition. Along with the interests mentioned above, we’ve added gender and age-related themes for a broader view across demographics:

crosstab-analysis

Applying sentiment analysis tools to our crosstab allows us to see where our brand stands with consumers when it comes to important issues. Because Sports covers a broad number of things, we’ve chosen BMX as we are headed into warmer months where outdoor sports will be more prevalent.

Looking at our crosstab analysis, it’s easy to see that we have a real mixed bag of emotions across the board.

  • Brand A seems to be doing better in most categories, but the sentiment in Family and BMX is dangerously low. And when it comes to religion, they are decidedly red.
  • Brand B is dancing dangerously and playing with fate as most of their boxes are a bright red, aside from our sports section, where they seem to be doing well.

So, though Brand A has some work to do, Brand B has further to go if they hope to be competitive in the space. Consumer intelligence paired with careful and strategic movements can help both brands rise, like cream, to the top.

Combining topics and themes in this way gives your brand a snapshot in time, which you can use to measure your progress as you navigate whatever 2022 throws at you. . And, of course, it’s super helpful in crafting precise brand messaging

Utilizing an Intelligence Connector

NetBase Quid uses next-generation artificial intelligence (AI) to deliver deep and actionable insights regarding customer satisfaction, purchase intent, competitive preferences and much more. And many brands use it in conjunction with our Intelligence Connector

The Intelligence Connector is an enterprise-wide solution for data connectivity, storage, and distribution. It offers all the moving parts of consumer analytics data, market data, share of voice, global news and media outlets, forums, blogs, and social media channels, surveys, review sites, earnings call uploads, patent and company and any CRM or proprietary data you want to add to the mix.

intelligence-connector

Once uploaded, consumer and market intelligence is available to your entire company, making strategizing and decision making that much easier from one point of truth. It’s like having your own advanced research team whose job it is to translate research findings into actionable insights. And NetBase Quid offers several different integration and output options to support your analysis, from manual CSV or XLS formats to point-to-point automation with Zapier. And it’s as simple as dragging and dropping…

upload-data

Use the Intelligence Connector to:

  • Embed intelligence across your enterprise, facilitating quick data-driven decisions based on the rapid and accurate analysis of a wide variety of datasets.
  • Prioritize insights by helping rank metrics based on a custom methodology, which we co-develop with you.
  • Collect real-time data and relevant metrics web-wide.
  • Prioritize marketing decisions and resources by leveraging continuous consumer and market intelligence.

And so much more.

Or, as this large measurement and analytics agency has done, white label it and use it to automatically sift and rank analyses of KOLs to then track over time for your cleints. Doing this, saved the agency time, and improved client satisfaction by identifying the most impactful KOL to sway public opinion, mitigate risk, help change policies, and attract media coverage. It’s a pretty incredible ‘add’ to any agency’s offerings.

It’s easy to get overwhelmed by all the moving parts and data sources to stay on top of these days, but it’s imperative to overall brand health. Your voice of the consumer intel is waiting for you, and we help you find it. Be sure to reach out for a demo, and we’ll show you how!

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