Too much of a good thing can be … well, too much. Social media listening is a goldmine for brands tuning in to the voice of the consumer, but with so much online chatter it can be a daunting task to get to the insights that matter.
There are now over 474,000 tweets and 510,000 Facebook comments every minute, which means that actionable market insight exists in an enormous social media haystack. However, markets aren’t standing still while brands figure it out. That’s why top brands are turning to Quid Social to help them capture the voice of the customer and inform their market intelligence.
Here, we’ll see what that looks like for brands with a quick dive into the following:
- The consumer journey
- Consumer care
- And consumer acquisition
And here are some related statistics we uncovered pertinent to brands interested in deepening their voice of the customer (VOC) intel:
- Developing a great consumer experience (CX) is worth the effort as 86% of consumers say they are willing to pay more for it; up to 13% more generally and as high as 18% more for luxury goods and services.
- Consumer care encompasses meaningful customer service. It’s important for brands to get this right as 82% of US consumers say they’ll walk away from a brand for good over unsatisfactory customer service.
- 36% of CX leaders say they are already utilizing artificial intelligence (AI) to improve their brand’s consumer experience while 28% say that have plans to invest in the technology.
With that, let’s jump in take a look at how Quid Social can help your brand dissect its online narrative for actionable VOC insights.
Consumer Journey Capturing Voice of the Customer
To put it simply, the customer journey is the process from when a consumer first becomes aware of a brand, goes through a consideration phase and then makes a decision based on their research or the influence of others. A broader view of this concept would continue on to include the post-purchase phase wherein a brand further strengthens the consumer relationship with the goal of creating a long-term customer.
Wherever the consumer is in their journey with your brand, it’s critical to find them where they’re speaking about you. And NetBase Quid makes dialing in to the voice of the customer a snap.
For instance, here’s the recent summary metrics for The Little Potato Company that gives us the inside scoop on posts and mentions.
As you can see, there’s a seemingly unusual spike in mentions beginning towards the end of September. And with nearly 17.5M potential impressions, it’s important for brands to ensure that the online narrative is giving your existing and potential customers the right one.
At 96% net sentiment though, on a scale of -100 to 100 they appear to be doing just fine there, with a cursory glance.
Exploring Source Types
Pulling the above analyses into Quid Social and filtering by source type tells us not only where these conversations are taking place, but also includes links to each one. This type of granularity is a game changer – especially when a crisis hits.
In the timeline view above we can see that 54% of brand mentions are happening on blogs, followed by Twitter mentions at 22%. That being the case, it would be prudent to monitor blogs in this scenario for influencer potential. And also as a tool to target readers on the fence about your brand, increase traction or incentivize your base.
After all, many of the brand mentions here come in the form of recipe ideas or diet guidance, so keeping an eye out for them can also open windows to fresh marketing ideas.
And of course, the ability to quickly find, and reach out to customers already gushing about your brand goes a long way in the consumer love department.
Consumer Care with Quid Social
This is one of the areas that can endear a customer to a brand when it’s done right. Consumer intelligence gained through social media analytics can reveal the needs that are arising as they’re aired on social media – but only when you’re listening for it!.
When brands step up and meet consumers at the point of need with meaningful solutions, it can pay dividends well beyond a retained customer. And that’s because word of mouth still counts these days and consumers love to tell everyone about a good consumer experience.
Here is an analysis we ran of Big Lots and the word cloud offers brands insights into the voice of the consumer which they can then target with the aim meeting consumer concerns or needs.
At 66% net sentiment, they are looking really good this month, but the negative words, as well as the positive ones can give us clues into consumer issues. For example, clicking on ‘disappoint’ reveals a shopper let down by holiday selection.
Of course, that’s one side of the coin and worthy of exploration for informing brands of where they may have not met consumer’s expectations. On the flip side though, it’s equally important for brands to continually explore their positive mentions to push that narrative as well.
Accentuate the Positive
When we pull the conversation into Quid Social, we find an entire topic cluster titled love Big Lots taking up 7.8% of the network map.
Since love was so prominent in the word cloud, to ensure we captured everything we created a tag for it to reduce the network map to only include those mentions.
Doing this focuses in tight to your customer care exploration keywords, ensuring that all the background noise is tuned out.
Incidentally, while exploring the Halloween Decor topic cluster for clues that might speak to the holiday ornament issue that the aforementioned user tweeted about, we found Big Lots meeting a need on that front with another customer.
This is great example of what brands should be doing, but it’s also super important to note here that this user tagged Big Lots while the first one didn’t; underscoring the importance of having a tool that captures all of your brand mentions. Image analytics capabilities are key.
After all, capturing the voice of the customer means getting every bit of it. Otherwise, you’re only listening to half the orchestra.
Consumer Acquisition in Quid Social
If you throw the terms ‘consumer acquisition’ in a search engine, you’ll find that the internet seems much more interested in retention as it’s cheaper and has better potential for the sale. Therefore, it’s easy to look at acquisition as a long-term goal that is eschewed for the short-term gains of retention focused measures.
Every brand is different, true – budget considerations and all; but what brands are increasingly realizing is the power that next generation artificial intelligence (AI) brings to the table in terms of exploring all of their consumer acquisition options.
For instance, an analysis of fashion brand Steve Madden shows how Quid Social can help brands target keywords, competitors, and influencer marketing, to name a few, in reaching consumers hesitant to pull the trigger on a purchase.
For example, this keyword-based bar chart reveals that the ‘closet’ and ‘closet on Poshmark’ keywords are trending close to the top, only falling behind the ‘sandals’ keyword.
Poshmark users are adding a notable amount of Steve Madden merchandise to their virtual closets forming a substantial reselling niche. Creatively targeting fence sitters in this market may very well be worth further exploration for customer acquisition.
Fashion Bloggers and Other Influencers
Additionally, changing bar values reveals a host of fashion bloggers and potential influencers for courting potential customers.
And here, we simply created tags for the words ‘want’ and ‘need’ and ran it through the timeline view. It filters out the noise and allows brands to dig into what’s behind the unmet needs and wants with the aim of transferring those into the consumer love category.
After all, some of your would-be customers might only need the gentlest of nudges to commit, so it’s worth the effort to listen in and woo them over.
Simply put, brands harvesting their market intelligence through AI-powered social media analytics have an advantage in speed and actionable insight over those that do not. Quid Social not only pulls in the social conversations relevant to your brand, it puts the tools to slice down to a granular level for actionable intel at your fingertips.
Are your brand’s social media analytics dialed in to best hear the voice of the customer? Faulty tools mean missed opportunities and flawed intel which translates to real dollars wasted. Make sure to reach out for a demo and we’ll walk you through personalized social media listening to make sure your brand never misses a beat!