The world is online, and the ability to gather all that structured and unstructured textual data and categorize it into neat explorable bundles is critical for any brand aiming to understand their consumer base more completely. In this article we will explore not only what text analysis is, but seven brands who have used it with great success, and how you can too.
What is Text Analysis?
Text analysis is the ability to organize structured and unstructured data, pulling meaning from zillions of texts across the internet including blogs, journals, consumer posts, etc. In simple terms, it’s the process of sorting, analyzing and gaining insight from the massive amounts of text floating around in cyber-space.
The data is organized into semantic connections informing brands of like conversations and associated sentiments, while blocking out meaningless noise and chatter. This helps businesses zero in on what actually matters to its given purpose at hand. Companies using these insights can maximize their consumer and market impact.
Now let’s get to those examples of brands using text analysis to create amazing outcomes to see it in action!
Forbes Tate are experts in their industry and this is partially due to the excellent intel they receive from text analysis while doing market research. They aim to discover lurking issues by watching and measuring conversation around a specific topic over time.
Recently, they explored cannabis policy. By measuring the conversation and how it changed over time, they were able to pinpoint emerging market insights where cannabis policies were being discussed. They found “insurers” as a topic was a huge part of the conversation, however no one was adding context.
Armed with intel supplied by text analysis, they took their findings to their client, who was then given the unique opportunity to become a part of the conversation, shaping it and being the first to add their perspective and insight. The opportunity to be first has a lot of power, and can set up a brand as experts in their segment.
Pamela Mitto from Coca-Cola uses text analysis to filter down conversations on consumer behavior, such as what people are drinking, how they are drinking it and why. And this is all to inform the company so they give the consumer what they want, when they want it. “How to better satisfy the consumer than if I am actually giving you what you said you wanted when you wanted it?” shared Pamela.
She goes on to explain that when filtering for Kombucha drinkers, for example, they asked whether consumers were drinking it for health reasons or for taste? Text analysis revealed the consumer behaviors when drinking this probiotic beverage and helps Coca-Cola better understand how to market the product to different types of consumers for maximum return.
To properly advocate for a purpose, you need to fully understand the people being targeted by your campaign, and what drives them to get involved. Banner Public Affairs used our social media analytics tool, in particular text analysis, to inform their advocacy campaign in this way.
What they found was that it was integral for the wildfire advocacy campaign they were working on. They knew to speak about wildfire impacts from a human perspective, such as highlighting an employee or even a firefighter’s experience. By following where the intel led, they understood what would motivate people to get involved – and putting a human face to a very big conversation was precisely what they needed. The campaign experienced higher click-through rates and engagements.
When measuring your share of voice, it’s critical to understand the differences in owned, earned, partnered and converged media. If you don’t, the only measure of brand mentions you may be getting, are your own (owned).
New Media Academy helped one of their clients understand that most of the volume of conversation that surrounded their brand was content BY them, not consumers. That’s a huge concern. By recognizing this and using text analysis, they were able to come up with a new, engaging content strategy. They started from scratch, using the results they found to encourage and develop more buzz around their client and giving them a chance to generate earned media (consumer chatter about you!)
Research & Development:
Liana Mortazavi is the research and development analyst at Panasonic. For her, having a social media analytics tool with text analysis allows her to become an expert in a field she may have previously known nothing about. Using it “like anyone would use their Google search,” Liana is able to gain access to trade journals, engineering magazines and gather design knowledge she wouldn’t be able to find using a Google search. She then presents this intel to Panasonics’ designers and business development folks to inform their next business steps.
Looking for Aha! moments are a huge part of having a social media analytics tool. Observing the consumer conversations and uncovering themes to aid a brand in pivoting when needed are just a couple examples of what a brand can discover.
DAC Group watches for any trends that may be gaining momentum, analyzes them and helps clients keep moving forward by implementing them as it make sense to! And this includes unusual or topical trends, such as politics or religion.
DAC recently worked with a client who aligned themselves politicly with a publication that didn’t fall in line with the political trends of their consumer base. In four weeks’ time their client’s sentiment score went from +88 to –51 – a huge drop. Using text analysis, they were able to peel back the layers of conversation and help their client work with a PR crisis team to bring their score back up to a +59. Without analysis tools this may not have been caught and the client could have suffered permanent damage, an been left wondering why everything went wrong.
Identifying New Opportunities:
Identifying undiscovered opportunities for your brand can be the difference in an increase in brand interest or none at all. Pepsi-Co, mother company of Quaker, uses text analysis to find these often-overlooked opportunities to boost their brand awareness. By tracking consumer conversations this beverage company was able to pick up on the different ways people were discussing grits.
What they found was that consumers were talking about grits as a CPG product but also as a dish, specifically in the southern region of the US. By getting involved in the conversation, they discovered a foodie culture that revolved around this simple grain and located a shrimp and grits festival where they could showcase and introduce their new flavor of grits. This resulted in a 15% increase in Quaker grits products, and a 50% lift in social activity.
Discovering emerging trends, undiscovered conversations, consumer behavior and even unknown issues through text analysis empowers your brand to develop powerful content strategies and campaign planning. Reach out today to inform your next move with the best social analytics tools out there.