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“The Web is a constantly flowing stream of data and information.”
Valeria Severini, CEO Freedata Labs
Marketing actions need constant monitoring.
That’s why we developed a set of metrics and measurement tools that we successfully use to constantly monitor the effects of social media marketing actions. At the core of these measures is The Brand Race Quadrant®.
What The Brand Race Quadrant® does:
- Identifies the web places (social networking sites, forums etc.) where people are talking about issues related to your brand or product and using keywords associated with it
- Helps create a Social Media Marketing campaign based on precise, detailed information about the web places on which you need to focus to achieve your objectives
- Provides information on the position of your brand or product relative to that of your competitors
- Provides information on the effectiveness of the actions taken by your company and by the competition
- Tests conducted in the consumer goods sector demonstrate that there are significant correlations between the position of a brand in the quadrant and sales trends.
How it works:
The company and competitor brands are researched using our highly specialised Web-crawling tools on blogs, forums, social networking sites and other web spaces as well as online press releases. This gauges the buzz generated by the brand or product.
All references to the brand undergo semantic analysis: the part of the text pertinent to the analysis is identified, the construction of the phrase is analysed from a syntactic perspective, topics are identified and product or brand sentiment is revealed. In each instance, an advocacy index is also generated – that is, customer propensity to recommend a product.
Results:
The Brand Race Quadrant is a key performance indicator that summarizes buzz and advocacy data within a quadrant. Four situations are possible:
- If advocacy is positive and buzz is high (success), the brand situation is excellent.
- If advocacy is positive and buzz is low (communicate), the brand needs better communication.
- If advocacy is negative and buzz is high (crisis), the brand is undergoing a crisis and quick intervention is needed.
- If advocacy is negative and buzz is low (renew), the brand requires a complete overhaul.
Interested? Contact us now for a chat: [email protected]
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Want to know more ?
For more information on The Brand Race Quadrant®:
Watch the presentation:
http://www.slideshare.net/Freedatalabs/freedatalabscom-the-brand-race-quadrant-mar-2009-eng
Watch the video:
http://www.youtube.com/watch?v=OGaUSHR9qwA
For more information on advocacy:
http://en.wikipedia.org/wiki/Advocacy
http://www.lse.ac.uk/collections/pressAndInformationOffice/PDF/AdvocacyDrivesGrowth_5-9-05.pdf
For more information on the concept of buzz:
http://it.wikipedia.org/wiki/Buzz_marketing
For more information on Net Promoter ® Score:
http://en.wikipedia.org/wiki/Net_promoter_score
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