Social insight is crucial to have on hand when strategizing next steps with brand executives, as they can touch all facets of a business. This first post in our Social Media Reporting Series explains how Brand Analysis Reporting lets you communicate these insights quickly and, most importantly – accurately.
Brand Health Is Your Foundation
Before you can create or revise business strategies, you must understand how your brand is performing now – with regard to both competitors and key brand business priorities.
A Brand Analysis Report – sometimes called a Brand Health Report – is a snapshot of these metrics, designed with busy executives in mind.
Here’s what it tracks:
- Share of voice
- Brand equity
- Brand attributes
It’s clear that Starbucks is well ahead of these two competitors with regard to mentions and potential impressions – but Net Sentiment is pretty close between the three.
Sentiment and Passion Intensity are always required to understand what’s driving the conversations about your brand. Here’s a look at how Passion Intensity clarifies this insight:
Though Starbucks’ share of voice is clearly greater, it’s not all in the Like or Love camp. We’ll talk more about Competitor Analysis Reporting in a future post. For now, how can Starbucks win more consumer love while maintaining the same high volume of conversation?
These are the questions a Brand Analysis Report inspires – while delivering the data that puts you on the right path for answering them.
For example, brand attributes data. When we look at the specifics behind Starbucks’ conversation volume and sentiment attributes, we see that price is a big sticking point with consumers:
Price gets a lot of chatter and negative sentiment. The same is true of customer service. Quality, however, isn’t talked about as much – yet sentiment on that attribute is high. A reminder that social complaints get a lot more attention than praise.
It’s clear where Starbucks need to focus their efforts if they want more positive conversation about their brand. This is the benefit of Brand Analysis Reporting: It’s clear and concise. All that’s left is to decide how to solve the problem.
Tips for Impactful Reports
Part of what makes the information above most valuable is the use of themes. Understanding how consumers feel about specifics like Price, Quality and Service means your actions can be just as specific. Choose the themes that align with your current business goals, or look at everything to see what jumps out. And then you can slice and dice the data to the Nth degree, digging in to results to explore at a granular level, with unmatched sentiment accuracy. That’s powerful.
Or you can keep your search broad and discover adjacencies that impact your business.
And when you identify keywords you want to track – you can set an alert to be informed when they pop up in social conversations. These might be references to trends that potential consumers or competitors are talking about, or they could be harbingers of trouble on the horizon.
In both cases, you want to know when these topics are gaining steam. We’ll talk more in-depth about this in Crisis Management Reporting.
What matters is having the right puzzle pieces in place, so reporting is easy. So what are those puzzle pieces?
Putting Your Discoveries to Work
Well, getting the lay of the land relative to competitors, as above, is the first step.
After that, take the insights you’ve found and use them to segment your audience to find deeper insights based on shared interests, product attributes, operational categories, and customer behaviors, to name a few. There are so many ways to parse the data, it deserves a demo to appreciate the options.
Next, track these conversations over time to identify trends and patterns. Then measure against operational metrics to assess whether you need to adjust processes, budget, or content – both on social and beyond.
Once you’ve mapped out the KPIs that matter, reporting on them at any moment is a matter of pulling your data into the dashboard template of your choice – or even creating your own. That way, higher-ups can see exactly where your brand stands at any given moment, and advise accordingly.
This keeps your brand on track – a high-speed track, that moves as fast a social – while also proving the merit of social analytics data to those who hold the purse-strings.
Agencies like Spong and brands like Lloyds Bank use Brand Analysis Reporting to help clients shape business goals and keep risks at bay. You should do the same – otherwise, you’re just giving competitors an edge.
Want to learn more about Social Media Reporting? Reach out to talk with one of our experts!