Brand reputation is “astronomically consequential” in 2020

New Ideas in MarketingEssential news for marketers, summarised by YouGov
February 05, 2020, 2:22 AM UTC

Companies must adopt statistical topic modelling to identify shifts in opinion.

This article recognises that brands increasingly magnify their reputation by taking a stand on issues. Increasingly, consumers are considering a brand’s reputation while evaluating their product and marketing when purchasing. Then, brand reputation is “astronomically consequential” in 2020.

To have benchmarks for reputation, organisations could gather data that represents the customers’ opinion of a company or product. Assigning a value to that opinion can be contributory to benchmark. For this, look at endorsements and surveys and tabulate the star ratings on review platforms.

The author suggests creating a system that continuously tests and seeks out variation in the quality and nature of Share of Voice. Further, statistical topic modelling can be used to analyse big volumes of texts in tweets, blogs and news to identify threats and shifts in opinion.

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