Rather than gauging surface-level feelings, marketers should aim to learn more about consumers’ underlying emotions.
Assessing discussions around the brand could help businesses conduct a reputation analysis and monitor their image online. A reputation analysis can help businesses learn about their consumers' sentiments towards their brand, as well as their likes, dislikes, and differentiate themselves from competitors.
Brands with exceptional reputation enjoy a 230% higher revenue growth than the average revenue growth of S&P 500 companies, according to Prophet’s report. Businesses should, however, prioritise strategy over metrics, because numbers don’t accurately represent what the consumers actually feel.
Companies should analyse quantifiable and non-quantifiable data from primary sources, track negative and positive brand mentions over time across the internet, assess consumer sentiments and the brand’s share of voice (SOV). Tools like Google Alert, SocialMention, and more can help brands effectively analyse their reputation.
[10 minute read]