Luxury brands including clothing, accessories, cosmetics, and automotive brands are at the center of competing trends towards an increased desire for exclusive goods and unique experiences and decreasing brand loyalty. Brands are using social media analytics to enable to them to be dynamic, leverage their brand heritage, and respond to an increasingly competitive market.
Protect Brand Perception and Reputation By Staying Informed of Consumer Conversations
Consumers like to share their luxury wares online via social, unfortunately, they also like to share when things go wrong. The Netbase Customer Experience Analytics platform makes it easy to stay informed of conversations around your brand and products, allowing you to mitigate potential risk before it turns into a full-blown PR disaster, protecting your brand’s health and reputation.
- Quickly understand consumer perception of your brand, digging deep into sentiment driven attributes, behaviors, and emotions to identify how passionately consumers talk and why they would OR would NOT buy your products
- Understand which products are mentioned most often from your product portfolio to better understand brand perception and affinities
- Easily drill into conversation spikes to determine what kind of content and media is most likely to go viral to inform content strategy
Leverage Competitive Insights in Your Marketing Strategy
Brand health is directly tied to the competitive environment a company competes in, making it a necessity for a brand to understand their share of voice in the luxury market to truly understand brand health. This also uncovers opportunities to compete in a crowded market.
- Identify share of voice versus competitors to understand sentiment and passion intensity, identifying which brands have the highest sentiment and passion intensity, and how all brands compare on Netbase’s proprietary Brand Passion Index
- Measure your brand versus others according to industry KPIs such as quality, luxuriousness, perception and any custom KPIS bespoke to your brand
- Monitor competitive conversations to capitalize on consumer perceptions in your messaging and tone
Use Consumer Insight to Innovate and Evolve
Consumer experience analytics are a real time focus group at your fingertips, giving intel into consumers desires, unmet need and whitespace opportunity in your space. Brands can use this intel to ideate the next blockbuster idea or create a new category in your space.
- Uncover trends in your category to help inspire the next big idea and address unmet need in the market
- Discover new uses for existing products
- Perform audience analysis to uncover preferences of target demographics for more effective marketing
Understand Your Customer’s Path to Purchase
Consumers these days do most of their research online before they ever walk into an actual store. Understand their customer journey by understanding what drives them to purchase and capture them earlier in the cycle to make the sale.
- Identify purchase intent behavior and what specifically is driving it to better understand customer journey
- Perform audience analysis to better understand customer journey and purchase triggers
- Use social analytics to engage and interact with customers to turn them into repeat customers
Tap Into Relevant Influencers to Amplify Your Message
The Luxury industry is notorious for partnering with influencers to gain visibility, but how do you know which influencer is right for you? The NetBase platform makes it easy to identify influencers that are synergistic with your brand, in addition to keeping track of your partnered media to understand the exposure you gain by working with influencers.
- Easily identify influencers that are right for your brand, digging into profiles based on follower counts, verification status, bio terms, location and more to ensure theyre a good fit
- Track owned, earned and partnered (influencer posts mentioning your brand) posts to identify lift from influencers
- Monitor all of an influencer’s channels in one place to understand their social footprint and that their messaging is on point with your brand
Use Social Data to Drive Campaign Creative
The best campaigns are the ones that strike an emotional chord with consumers, igniting a response to your campaign and creating an emotional tie with your product. How do you ensure your campaign creates a lasting impact with consumers? By using the data as your guide. Smart brands are data driven, letting social insights guide their way to successful campaigns that resonate with their audience.
- Use social insights to identify consumer interest, experiences and tone to drive your creative
- Benchmark campaign with core KPIS to understand results: digging into sentiment, engagement rates, and passion intensity lift from campaign
- Measure purchase intent before, during and after campaign to understand if campaign changed consumer behavior