Consumer sentiment often follows the news cycle, but not always. And it’s important for brands to capture distinct consumer and news media conversations to see where those differences lie, as it can inform your next move. And particularly, in light of COVID, this intel can be brand-making, or breaking!
NetBase News adds LexisNexis resources to sharpen the image – giving way to details that would be missed using other means. Brands no longer need to switch back and forth between different intel finding software – NetBase is a one stop shop. We’ll explore how:
- Paying attention to shifting consumer conversation is key to your brand staying relevant
- Insights gathered from media help illuminate problem areas; helping brands pivot at the drop of a hat to be on the winning side
- To have the best of both worlds – using social media listening with market intelligence to inform your brand for a well-rounded approach
And the statistics don’t lie, offering COVID-related snippets, including:
- There are more than 1.1 M news articles published every 24 hours
- LexisNexis revealed essential workers face homelessness, citing 25% to 50% of the homeless population are working.
- Proctor and Gamble are using their tools right, as their earnings growth rate is projected to be up 10% both this year and next in the middle of a pandemic
Consumer COVID Conversations Are Shifting
It has been a long year for brands attempting to keep pace with changing consumer sentiment and shifting conversations within the market – and that applies to any market. NetBase Quid is the crystal ball, informing companies’ next steps.
Having real-time analysis is crucial, as understanding consumer sentiment is the driving life force of brands. With more than 1.1M news articles published every 24 hours, having a market research and social media listening combo is a must.
To capture shifting consumer conversation, we turn to social media listening. COVID-19 conversation over the past month shows a spike in negative sentiment around July. And though it has leveled a bit, COVID-19 is still very much on consumer’s minds. And not in a good way, coming in at -40 Net Sentiment on a scale from -100 to 100:
Adding LexisNexis’ News Media to the results, our potential impressions double from our graphic above, and our net sentiment score drops by 2%:
What accounts for the shift? What are consumers/media saying that’s different? Let’s dig in to see!
News Media Offers Additional Insight
Comparing COVID-19 conversations with and without the addition of news media to inform our market research, we can see that the conversations are almost identical:
However, the bottom two attributes have switched places. A curious detail, and as it’s said, “the devil is in the details.” And exploring those devilish differences offers insight around what has changed – and why.
Clicking on capital coronavirus we see news media concerns around essential workers facing not only higher risk for the COVID-19 virus, but what happens if they contract it and can’t go home for fear of passing it on:
Further, clicking on a sound bite brings us to an MSN article which speaks to the problem essential workers face with homelessness, citing that 25% to 50% of the homeless population are workers, including those dubbed “essential.”
In comparison, if we use social media listening alone, those consumer-focused results are concerned with rates of infection:
We can see the differences between the media vs consumer narratives, and that could offer key insight for brands. Exploring Behaviors, for instance – we see threat in COVID-19 was at the bottom of the consumer-focused list, and when we combine it with news media, the social listening and market research result boosts that concern. Do consumers find it more of a threat, or does the media? It’s up to a brand to explore and decide.
What are consumers avoiding? Who are they blaming? What sort of “support” are they seeking and what is the “use” that’s figuring prominently in each? Clicking through in NetBase’s transparent insight reveals deep insight around each.
And how does this look when applied to industries like travel? Let’s find out!
Putting it All Together to Inform Next Steps
There are many reasons a company needs both sides of the research coin. And travel is certainly a hot topic on everyone’s mind. It’s been a road full of barricades, led by consumer expectation and health restrictions. How are consumers feeling?
Analyzing travel using social listening alone vs using it with valuable news media market research, we can see right away there are differences: The News view shows Countries replacing Like and Home has replaced with Time Travel. These feel significant – and they are.
By clicking on each of these, we see Time Travel speaks to traveling within the mind via books and Instagram posts – a tip that consumers are still largely on social media.
And Home presents a couple posts about playing slots online. It also shares consumers’ desire to try things different – things that aren’t offered at “home.” This may signal trouble for chain restaurants, and an opportunity for local establishments to appeal to travelers’ need for something new.
Related to that sentiment, Home also reveals a word cloud with conversation centered around traveling, surprisingly enough. And reasons consumers travel – food, experiences, learning and family connection. Each could offer a blueprint for advertising and could inform a savvy brand’s next campaign. Something new for weary travelers to experience and learn? Check!
And then, Net Sentiment for our LexisNexis expanded search shows a growing positive sentiment for traveling. A signal for companies to put on their walking shoes, perhaps!
Limitless Options with News Intel Added In
There are plenty of other ways to use this tool. And the combination of social media listening with market research is critical to brands looking to make meaningful movements within their industry.
It’s important to note that not all market research and social media listening options are created equal. This is why it’s important to have one that includes the best-in-class options from both worlds to inform decision making, giving your brand the best footing. NetBase Quid offers that, presenting a substantial and exhaustive view. Reach out and let us hand you the best in advanced AI competitive intelligence, so your brand can be off and running as soon as consumers are ready for you!