Subscribe to DSC Newsletter

Why the VP Brand Management needs text analytics

Re-posted from the Text Analytics News.

Turning “passive listening” into an “active conversation” is or should be the top priority for those who head brand management.

It is being increasingly believed that being direct, transparent and getting information out quickly is paramount to communicating with users.

For instance, marketers acknowledge that they are moving from just listening to actively engaging with their social media fans. A two-way dialogue, via social media, is beneficial on a number of levels. Companies have used the medium to discover and resolve guest service issues, to engage their loyal followers, to promote offers and more.

Text Analytics News’ Ritesh Gupta recently spoke to Lexalytics’ CEO Jeffrey Catlin about the utility of text analytics for those who are responsible for brand management. Excerpts:

Why does this job title need text analytics?

Jeffrey Catlin: A VP of Brand Management is responsible for all aspects of how the brand is perceived.

Because they live and die by the positive and/or negative perception of the brand, it is highly important that they understand how the brand is perceived.

There are two ways to determine how the brand is perceived: active listening and passive listening.

Active listening involves focus groups and surveys, asking probing questions about how the consumer feels about the brand.

Passive listening involves understanding how the brand is being discussed in places like chatrooms or Twitter or blogs.

Both types of listening involve going through massive amounts of unstructured, open-ended answers. You can, of course, structure all of your surveys so that its just closed-ended multiple-choice questions, but if you do that, then you aren’t ever going to be surprised by any of the answers. And being surprised is important so that you can extend your brand strategy in ways that you hadn’t originally considered.

And that is why it’s important for a VP, Brand Management to have text analytics tools at their fingertips.

What challenges does a VP Brand Management face and how does text analytics solve them?

Jeffrey Catlin: In addition to the challenges shared in the previous question, the best case for a VP Brand Management is when they can turn “passive listening” into an “active conversation” - meaning, is there a way that they can use the information gleaned from passive listening that they’re doing in such a way that they can insert themselves into the conversation – so that their consumer is actually interacting with the brand in ways more profound than simply buying the product.

And while buying the product is obviously the end goal, the VP Brand Management is concerned about the longevity of the brand across many years; and not just about meeting this quarter’s numbers.

And when consumers feel like they’re actually interacting, at a real level, with their favourite brand, they become even more loyal.

Given the billions of conversations that occur every day, out in the open on the Internet, the only way to manage that interaction is through mechanical text analytics.

What problems do new users find and how can they get the nod for the same from their management?

Jeffrey Catlin: Truly good, sophisticated sentiment analysis is very hard to come by. Many vendors claim to have it, but once you dig into it, you’ll find that it’s not really based on a lexical understanding of the text. This is critically important for a VP, Brand Management, because they need robust, reliable analysis of the perception of their brand.

Can you cite an example – of how the user benefited by using text analytics?

Jeffrey Catlin: The use of strong text analytics, such as what we provide, is seen as being a competitive advantage. While we love that, unfortunately most companies don’t want to talk about what they’re doing lest they give away an advantage to their competitors.

What trends should VP Brand Management look out for as far as text
analytics is concerned? What should they be wary of?


Jeffrey Catlin: Measurement of “brand equity” in the social media space is really hot right now. It’s important to understand how you’re being
discussed, and it’s important to be able to step in as necessary and
actually have a conversation
with the users.

However, the flip side of that coin is that most everybody is confused about how to “value” a social media mention
of their brand vs. valuing a traditional media mention. How do you
compare what’s happening in the press with what’s happening in social
media?

VP Brand Management needs to be concerned with not trying to tie the two together too tightly. These are not
equivalent spaces, these do not have equivalent weight. And while it’s
good to track both of them, trying too hard to tie them together can be a
real problem.

How do you expect the adoption of text analytics by VP Brand Management going forward?

Jeffrey Catlin: I expect it to continue to accelerate.


6th Annual Text Analytics Summit

6th Annual Text Analytics Summit is scheduled to take place in Boston (May 25-26). Lexalytics’ CEO Jeffrey Catlin is scheduled to speak at the two-day event.

For more information, click here:

http://www.businessanalyticsnews.com/info/130
or contact:

Ben Satchwell
Text Analytics News
[email protected]
T: +44 (0) 207 375 7163

Views: 241

Comment

You need to be a member of AnalyticBridge to add comments!

Join AnalyticBridge

On Data Science Central

© 2020   AnalyticBridge.com is a subsidiary and dedicated channel of Data Science Central LLC   Powered by

Badges  |  Report an Issue  |  Privacy Policy  |  Terms of Service