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Archive for July, 2008

Benefits of Social Media for CPG

by ConsumerSphereGuy on July 11th, 2008 in CPG, Social Media Strategy

The most critical benefits of Social Media to CPG brands include:

Accelerating Brand Advocacy – Compliments can come in many forms. It could be about brand performance, quality or superiority. It could be a customer raving about the experience they just had with a product or with customer service. Potential consumers and customers are looking for reassurance on a product decision love to see what others think of your brand. ConsumerSphere helps brands to identify and nurture brand advocates and enable them to share positive buzz/testimonials about consumer brands and products.

Greater Insight – Social media offer marketers real-time, cost effective, and unique insights that traditional qualitative focus groups don’t necessarily provide.  Social media provides a new laboratory to listen and dissect consumer opinions. Our solution process is specially designed to listen to and understand what consumers are saying about your brands. Our “Extract” process digs deep to uncover the “Gold” in brand discussions and identify the key implications and opportunities for your brands.

“What’s Hot!” – Topics will often pop up online that draw huge crowds. There is a lot to be learned in the discussions especially when they have the potential to affect your brand. Following the swarms can give you a better understanding of current sentiment and thinking towards a certain topic and who has opinions. It also may point out a topic that you will need to monitor going forward. Tracking a topic’s viral nature and how long it lives can give you an idea of its importance. Our clients don’t miss the action because our 24/7 brand alert capability provides our clients with the reassurance of “always on” monitoring.

Targeting Influencers – Influencers within a space can carry a lot of weight. They gain their power either from conversation frequency, the number of people who link to their posts on a topic, the number of people commenting and how engaged visitors are to their posts. The swarm forms around an influencer helps spread brand opinion and therefore carries significantly more weight. Knowing who these influencers are, and their opinions of your brands helps you determine who to reach out to for help as brand advocates or to understand why they currently hold a negative view. The unique influencer detection capability integrated into our tracking suite gives marketers the ability to know their brands “who” and “where” of social media influence.

Reputation Management – Discussions happening in social media can serve as an early warning system before an issue goes main-stream. By using advanced tools, you can observe new words popping more frequently about your brands. If you were an airline, as an example, the sudden appearance of the word “cancellations” along with the words “bad” and “customer service” would immediate trigger a need to drill into the posts driving them. Tracking these “crisis” words over time on an ongoing basis will help gauge the effectiveness of any outreach campaigns to address the underlying issues. Our 24/7 brand alert capability is constantly monitoring for any developing issues.

Measuring Success – There has been a lot of buzz lately on how to successfully measure online marketing and outreach campaigns. Much of the focus has centered on the topic of engagement. While a universal engagement metric has yet to be agreed upon, there are still a number of effective ways to measure engagement and ROI in general. More specifically, by tracking the mentions of a brand in user-generated content before, during and after a campaign and isolating positive words associated with a particular brand, you can gauge the number of times they were used over a period of time and thereby gauge consumer reaction to any given brand initiative (ie: promotions, advertising, online efforts). We work closely with each client upfront to establish the optimal metrics to fit their specific measurement needs.

360° Social Impact– With so many social media channels available, conversations often become splintered. A discussion can start within one channel and quick leap into another making it difficult to follow. Comprehensive and integrated monitoring can help bridge the thread across all types of social media. These various related inter-channel discussions can then presented as a cohesive connected conversation. Our 360° suite of tracking tools was created to effectively track and integrate them into an intuitive, and easy to understand social media brand assessment.

Ultimately, a brand represents the sum of all conversations (consumer and customer) surrounding the brand. We can assess a brand’s overall user sentiment, determine which words are commonly associated with it, understand which competitors rank closest in buzz or mentions, uncover advocates, and uncover the channels that contain the most discussion. We can thereby pinpoint opportunities for reaching and influencing the most valuable and engaged audiences. Identifying the strategic implications of our social media analysis is a paramount objective of all ConsumerSphere client engagements.