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Understanding Consumers: Social Listening vs. Traditional Brand Tracking

Discover the benefits of social listening and traditional brand tracking in understanding consumer behavior, preferences, and sentiment. Gain insights through real-time, authentic customer voices and structured market research. Maximize your understanding of the market with advanced AI technologies.

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Understanding Consumers: Social Listening vs. Traditional Brand Tracking

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  1. How Can Brands Best Understand Their Consumers: Social Listening? Traditional Brand Tracking? Or Both?Market Research Council September 21, 2018 Rob Key, CEO, Converseon

  2. Our View of the World Structured Unprompted Prompted Authentic, direct Voice of customer (in real-time) Social Unstructured 80-90% of all potentially usable business information may originate in unstructured form Merrill Lynch

  3. But…it Has Been Messy Challenges of Disambiguating Words, Meanings and Context, Slang, Sarcasm. Companies only processing 21% of their unstructured data (Forrester)

  4. Case in Point Common Boolean-based approaches tend to only find and classify 15-30% relevant documents

  5. So Not a Surprise…. “Far from being unfixable, however, miscalculations in social-media analyses can already be fixed using methods developed to fix similar problems in studies in epidemiology, statistics and machine learning.” - ComputerWorld

  6. 60 Years into Computation Linguistics, AI is Changing the Game Georgetown Experiment Statistical Models Deep Learning Ontologies ML-as-a-Service for NLP 1950 1960 1970 1980 1990 2000 2010 Micro World Grammars Computers just don’t have the brains to solve some basic problems – unless we lend them ours.” - Dr. Philip Resnik

  7. With Training, AI Can Outperform Individual Humans for Precision Source: Converseon 2018 Precision: Accuracy StandardRules Based Conversus Baseline Recall Relevancy

  8. And Classify Data Like Humans Do, Unlocking Higher-Level Variables Motives Advocacy Emotion Purchase Intent Customer Journey Brand Attributes Unmet Needs Intensity Sentiment

  9. Multiple Studies Have Shown High Quality Social Data Has Strong Predictive Qualities Smoothed time series Key Variables that explain Sales *correlation Topic + Sentiment / Emotion + Motive = .86 Topic + Sentiment / Emotion = .57 Conducted with Converseon/i4i

  10. It’s Critically Important for Comprehensive Measurement Frameworks Source: Converseon/ Joel Rubinson Brand Equity: Consumer preference + advocacy; Social NPS (actual advocating versus intent) Brand Meaning: language, topics, emotions, imagery, opinions, perceptions Engagement Behaviors: Interacting with brand beyond functional purpose. (likes, retweets, etc.) Purchase: Purchase funnel analysis; intent to buy Social Inputs/ Classifiers

  11. Why Social? Where? • Pervasive and growing • Real-time • Precise* • Predictive • Cost-effective • Time-Travel • Actionable • Authentic • Customer Satisfaction • Customer Experience • Brand Tracking • Campaign Analysis • Targeting • Trend Analysis • …And More.

  12. Thanks rkey@converseon.com Twitter: @robkey, @converseon

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