Jason Hardman's recent articles
Going beyond the tip of the iceberg: getting more than just the mentions and sentiment automated tools give you
Many hold the misconception that the extent of insight that can be extracted from social media research is just mentions and sentiment, as this is how automated tools frame it. This simply isn't true. WaveMetrix's social insight iceberg model shows that there is more to be gained from examining online discussions than from what automated tools deliver.
The real value of using social media as a research tool is frequently missed. Consumers are, as we speak, writing in-depth about millions of different topics online. They are writing responses to many of the questions market researchers are desperate to answer. In effect, there are millions of survey answers and focus group transcripts online waiting to be utilised. The challenge is having an approach to be able to extract this valuable insight to support business decision making.
WaveMetrix's unique methodology - combining both man and machine - allows us to go below the surface and past the tip of the iceberg. In a new series of articles, we will examine the insights market researchers are currently missing out on from examining online conversations.
More than just mentions - the social insight iceberg:
- Just the tip of the iceberg: overall mentions, their reach and sentiment are just the tip of the iceberg. There is in fact a wealth of information to be extracted, but we have to use an approach that goes deeper beneath the surface to get to it
- Granularity of topics: by using humans to read and tag topics of conversation, WaveMetrix can find out detailed insights - for instance, not just what people think of a brand as a whole, but detail right down to whether people think the colour of a new re-branded logo is any good
- Purchase drivers/intent: with our human analysts reading online conversations, we can extract a wealth of information on consumer purchase behaviour. We are able to tell market researchers what is impacting potential purchases and the reasons behind the final purchase decision
- Brand values: online posts can be read and interpreted by our human analysts to identify how consumers see your brand and whether your brand's values are resonating - valuable insights for marketing communications and strategy
- Target segments: for every target segment you can think of, there is probably a dedicated forum where these consumers congregate and talk. By finding the relevant conversations, insight can be extracted into your target segments
A new series of articles will explain each of these areas in-depth. For more information, please contact Jason Hardman.