Analyze audience value of marketing campaigns
Today’s consumers are actively providing feedback online on a variety of topics related to a company’s brand and products. Companies can maximize growth if they can systematically analyze these conversations and generate high value insights. It is very easy to obtain standard customer engagement and customer awareness metrics on marketing campaigns executed on different social networks –Impressions, Reach, Clicks, Likes, Shares, Views, Mentions, Tweets, Retweets, etc. But engagement and awareness metrics convey only a small portion of the drivers of customer behavior. To get granular actionable insights into brand and product loyalty, one has to dive deep into the reviews provided by the customers and the conversations generated in forums and blogs.
To solve this problem, Prescriptive Insights has developed Audience Value – an analytical framework that integrates a) awareness and engagement measures b) product ratings provided by customers and c) detailed theme and sentiment metrics. This framework contains three key components – 1) Data extractors that mine SOV (Share of Voice) & SOI (Share of Interaction) metrics, and customer reviews and conversations b) Business logic that standardizes and harmonizes all the data c) Sophisticated Artificial Intelligence algorithms that parse customer reviews and conversations and generate granular insights on topics like price, product performance, product advocacy, packaging, product formula etc. This allows companies to answer the following questions:
What are the drivers of customer awareness and engagement?
What is causing changes in SOV (Share of Voice) and SOI (Share of Interaction) ?
What are customers saying about the products?
How are the products rated across the different retailers and channels?
Which themes have the biggest impact on product ratings?
Which products are exceeding, meeting and below product expectations?
What are the risks and opportunities versus competition?
What is the impact of the campaign on sales ? What is the ROI?
How are the social communities segmented?
What are the profiles and attributes of these social segments ?
What is the sentiment affinity towards the campaign ?
Who are the influencers in these segments ?
And many more……..
The answers to these questions enable companies to quickly assess the effectiveness of sales and marketing campaigns and make the necessary course corrections in their strategies. In addition our framework allows for the use of detailed quantitative scorecards that identifies the impact of specific themes on customer satisfaction. This then allows companies to prioritize areas and resources that generate the optimal return on investments and drive top line growth.
