THE PROBLEM & QUESTION: The Head of Insight at a major CPG brand is trying to figure out why brand equity is falling. A CEO is wondering why sales are dropping. A Senior Analyst is assigned by the Head of Insight with answering these questions.
THE FORMULA FOR ANSWERING THE QUESTION: The Senior Analyst decides to work with social data to discover the reason for falling brand equity. She comes up with the following formula:
A focus group of individual consumers (with a full dossier on each one) + these consumers’ emotions (at the individual level) about a brand or category topic (machine classifies millions of conversation snippets by emotion) + macro insights on each “Emotion Group”, based on offline purchase data AND all known interests of individuals in that group.
THE RESULT: When Heads of Insight/Brand Managers/C-Suite execs can zoom from macro insights about consumers INTO individual level dossiers making up an “Emotion Group” (a group of people expressing a specific emotion about a product/service), they will gain a clearer understanding of the intent and actions of these consumers. They will see when a consumer says, “I hate this product because…” or “I love this product because…”. They will see what characteristics entire groups of consumers who love or hate a specific product share.
THE IDEAL FINAL SCENARIO: Head of Insight to C-Suite execs, “I can see groups of consumers who are excited/disgusted with our product, the statement each consumer made about our product, and dossier-level insight into each individual making up these groups. I can then compare these groups with groups of consumers who are excited/disgusted with our competitor’s product in a nice neat single screen. Now I know why our brand equity is falling and I can make evidence-backed recommendations about our next move.”