Understanding the consumer journey, based on consumer experience (CX), requires capturing insight from the right social media analytics tool. And this is more critical now than ever. We reveal why savvy businesses are moving CX to the top of their ‘must capture’ list in our 2020 EMEA Consumer Insight Analytics Report. And we have some highlights below!
The Year of Customer-oriented Brands
Social media analytics is a must-have for any business looking to propel themselves forward and create a strong customer experience. And with over 50% of the world’s population using social platforms, it’s a wise investment. But many are getting it wrong and focusing on old tactics to bring in new customers.
Our EMEA report explores ways brands are creating a personal touch using advanced AI capabilities. With rapidly improving Next Generation AI available to brands, it’s important to ensure your company’s data analytics pick analyzes the important stuff. And it’s all important.
A single negative post by a disgruntled consumer can spread like wildfire, with other unexpected voices amplifying it, effectively creating a PR crisis. Social media analytics can contain the fire by allowing your company to intercept and solve the issue before it spreads too far from its source. Brands that have incorporated consumer insights into their strategic marketing are winning this online firefight.
Our report details how your company can win as well, including:
- Making sure your brand doesn’t miss out on category-defining opportunities
- Why budgeting for social listening is crucial to understanding the customer journey
- Differences in the US and EMEA territories by industry and revenue, and why having a tool that can tell the difference and track changes demographically is critical
Stages of The Consumer Journey
Companies often place more value on one stage over another when it comes to CX – and the reasons behind it are telling. For example, a year ago, globally the Evaluation stage saw the most company interest. This year Awareness took the prize with Evaluation falling to 4th. Markets are increasingly saturated and brands struggle with that initial push to stand out, but in a perfect work a brand would devote equal attention to all:
In our report we detail what each stage means and why they are uniquely critical. We also explore the actionable intel brands obtain from a holistic view, including:
- Understanding where your customers come from – and why this insight is so powerful
- Being aware of how your products/services are being received by consumers in real-time
- Comparing your brand to others – customers are doing it and you should too
- Understanding the why behind the purchase to propel your brand and have meaningful interactions with consumers
- The morning after – whitespaces and post purchase sentiments. Keeping tabs on how a customer’s journey ended, pinpointing what you did right, or wrong.
Surveys vs Social Media Analytics & Missing the Point
EMEA respondents say they are still heavily reliant on surveys, and though this is a great source of insight it lacks the real-time understanding of consumers that social media analytics can provide. And this is because surveys require proof points to validate data. There are a variety of situations that can influence a consumer’s response to questions such as “survey fatigue” or even how the question is worded.
NetBase Quid pulls data sources and allows you to upload your own reviews, employee feedback and yes, even surveys, to give you a multi-dimensional picture for future planning. We discuss this in our report as well as how to aggregate all of the social data into one simple dashboard that’s easy to navigate, understand and monitor for crises to better protect your brand’s health!
Additionally, social media analytics informs brands so they don’t miss out on valuable customer experience data. This goes beyond the expected to capture the unplanned as well – which is more to the point. If a business is only focused on the known and the ‘now,’ they will only get short-term results. But with the right tool, you can accurately make long-term goals and monitor them consistently to pivot when needed. In our report, you’ll learn how to:
- Improve your customer care to capture praise and concerns on and off of social media
- Manage crises like a pro
- Streamline operations
- Understand sentiments and what’s behind them. Below is an example of Visa’s sentiment analysis in action. Each word is clickable to discover more – and highlights concerns as well as love:
Selling to a Culture of Influence
Partnering with an influencer is becoming standard for companies wanting to reach a wider demographic. In fact, studies show that for every $1 spent on influencer marketing, $5.20 comes back, and those are stats you can take to the bank! Social media analytics helps locate possible influencers for your product or service. And leading analytics tools also provide influencer monitoring capabilities so you can keep an eye on engagement of those you’ve partnered with.
And then there’s consumer generated content (CGC) to be on the lookout for! The best tools can locate these potentially influential posts by pulling data from Facebook, Twitter, TikTok and more to reveal how your brand or product is being shared or talked about across multiple platforms all at once and in real-time. So, a brand knows where and how to focus efforts. In that same vein our report highlights:
- Measuring and understanding your market share not just locally but regionally and globally
- Refining your advertisement based on location and more.
Ultimately, brands need to capture and competently analyze every channel a consumer is using in order to get accurate and clear insights. Our EMEA Consumer Insight Analytics Report 2020 can show you how to do this. Be sure to download it to learn more.
And if you’d like a demo as well, please reach out and give you a preview of everything social analytics has to offer.