Social Media Market ResearchIf you were at a restaurant and overheard a conversation about your company, would you stop to listen? Multiply that by several hundred million and you can understand why using social media as a source for Voice of the Customer information is appealing to many companies. The J.D. Power and Associates Web Intelligence Research Division offers a breakthrough capability to organize and analyze difficult-to-quantify consumer conversations in social media; summarize what is being said; and provide rich, actionable insights about a company, a product, a brand, a competitor, and even opportunities to drive new product development. J.D. Power leverages its patent-pending technology to mine the unaided opinions of online communities and turn them into valuable marketing intelligence about markets, trends, issues, segments, brands, products, and services. While many other companies offer tools to monitor blog conversations, J.D. Power Web Intelligence goes a step further and provides insights into the online dialogue that millions of consumers conduct on a daily basis. J.D. Power Web Intelligence works with clients across a wide range of industry verticals, including consumer packaged goods (CPG); automotive; retail goods and services; telecommunications; financial services; and travel and leisure. “Doritos munchers, bikers for Obama, MINI Cooper enthusiasts. Once J.D. Power has sorted bloggers into tribes, it can start digging for correlations between tribes and products.”
Social media research relies on an existing and growing form of Voice of the Customer information—the blogosphere. From blog platforms to such social media networking sites as Myspace and Facebook, J.D. Power Web Intelligence crawls more than 100 million blogs each week, creating a database of unaided consumer opinions that businesses can easily access to help meet their marketing and product development needs. The findings are the basis for a suite of products that enable organizations to make better business decisions regarding their strategy, message, and media placement. Two important features differentiate J.D. Power from other companies. The first is superior technology—while other companies use manual methods to assign demographic information, J.D. Power utilizes scientific algorithms to ensure the consistency and accuracy clients expect and deserve. These algorithms collect, de-spam, and categorize millions of publicly available blog posts daily to ensure a higher level of accuracy and a lower level of irrelevant posts. The second feature is J.D. Power’s experienced Consumer Insights and Strategy (CIS) team, which helps tell the story behind the data, providing analyses that deliver solution-oriented insights and recommendations. J.D. Power analysts represent a variety of backgrounds in research, consulting, marketing, and advertising agencies, and are experts in key industries. Each client works with a dedicated CIS analyst in a flexible, consultative research approach. J.D. Power’s technology provides multiple levels of analysis, creating a broad, yet detailed view of the conversation landscape. Comprehensive analyses identify competitive issues and barriers to adoption, as well as how different segments relate to or are impacted by the specific product or topic.
J.D. Power Auto Intelligence Monitor
The first industry-specific social media listening tool, the J.D. Power Auto Intelligence MonitorSM captures real-time consumer conversations about automotive brands, products, and topics from social media platforms, segments the conversation into demographics, and links the conversation to proprietary J.D. Power and Associates information. The resulting data and analysis helps companies ask better questions, make smarter planning decisions, develop more effective marketing campaigns, and maximize sales potential of new products and services.
The Auto Intelligence Monitor also features the J.D. Power Social Media Index,SM the industry’s only leading indicator of new-customer acquisition utilizing online consumer conversations. This unique tool offers a tandem approach, combining insights and metrics to help steer planners, analysts, and marketers in the right direction as they monitor a brand’s image and develop successful brand, model, and topical marketing programs.
Key features of the J.D. Power Auto Intelligence Monitor include: - Coverage of 37 brands and nearly 300 models
- Professionally designed make, model, and topic queries
- 12 key topics of consumer conversation
- Unique J.D. Power metrics tied to retail sales
- Access to J.D. Power analysts
- Updated nearly every 24 hours
- Two years of historical trended data available
- Complete competitive information
J.D. Power Verbatim Intelligence
The idea of reading customer comments—listening to the actual Voice of the Customer, in their own words—resonates with companies from top to bottom. However, generating business insights from tens of thousands of customer comments can be an exhausting activity. J.D. Power Verbatim Intelligence™ uses patent pending technology to help companies summarize and analyze customer comments, whether they’re generated from a call center, a survey, the blogosphere, or any other form of information collection. Unlike other solutions in the marketplace that either require difficult-to-use software solutions or full-scale CRM solutions that require enterprise-wide buy-in and in-house text analytics expertise, Verbatim Intelligence offers a way to generate insights from your customers’ comments at a fraction of the cost of a CRM solution and without having to learn how to use a new software tool. The resulting analysis can be combined with structured data from your company’s benchmark research, tracking studies, or mystery shopping analysis to provide a 360° view of your customers and your share of wallet.
Tribe Intelligence Program
The all-new Tribe Intelligence Program is a product that leverages social media to identify market segments of interest, or Tribes (such as Millennial Moms, Green Consumers, etc.). This product allows companies to conduct custom research projects against a specific group, as well as analyze their attitudes and behaviors. The Tribe Intelligence Program utilizes the benefits of three distinct methods of research. The value of standardized research (research that is readily available and provides benchmark analysis) is combined with the ability to conduct custom research against a pre-identified group of consumers (deeper insights about an industry, company, or products). Social media provides information on changing trends, attitudes and behaviors. The results are unique, unaided and unbiased perspectives on purchase behaviors and decisions.
Consumer Insight Reports paint a rich picture of a specific segment of consumers, such as Gen X moms or Gen Y college grads, based on all the things they talk about online. These reports, part of the Tribe Intelligence product, answer questions such as what media these specific segments of consumers talk about using, what leisure-time activities they participate in, and what consumer electronics they recommend. As an example, one large oil and gas company used Tribe Intelligence insight to understand a key consumer segment, referred to as Auto Performance Seekers. Not only could the client hone their messaging and validate media buying, but they also learned that these consumers were almost willing to give up eating to pay for parts and gas for their vehicles. Examples of questions these reports address: What do vehicle enthusiasts think and say online about various media, shopping, lifestyle, technology, and/or current event topics? How is the conversation different than that of consumers in other groups? How do Stay-at-Home Moms feel about snacking and nutrition? How important is convenience in their daily lives? How do consumers in this group consume media?
Market and Trend Insight Reports
Market Insight Reports and Trend Insight Reports provide in-depth analyses of online posts relevant to a topic of interest and go further to identify the key themes within these conversations. These reports also focus on the particular factors that influence purchase decisions more than other factors. Examples of questions these reports address: What are consumers saying about electronics and other retail products? What drives their purchase decisions and behavior? How does this compare to industry forecasts? What are consumers saying about the state of the banking and mortgage industries? Which brands are viewed most positively, and how are those consumers planning on shifting their money between banks and investments (e.g., stocks, bonds, CDs, etc.)?
Brand and Product Insight Reports
Brand Insight Reports and Product Insight Reports reveal consumers’ attitudes and behaviors about a particular product, service, brand, or campaign. These reports focus on whether consumers speak more positively or negatively about a particular company or product, and what drives their sentiment. Often this analysis can help to uncover core brand attributes or needed product improvements. Examples of questions these reports address: What are consumers saying about vehicles, such as the 2009 Acura TSX? Did Nestle’s pre-holiday cookie-baking campaign generate online buzz? What are consumers saying about Verizon’s FiOS Internet service?
New Product Innovation Reports
New Product Innovation Reports allow marketers to uncover consumers’ unmet needs or frustrations that can feed into new-product development. These reports identify the issues of biggest concern and match them against consumer profiles. Examples of questions these reports address:
Comment Processing Technology
The Web Intelligence Division’s Comment Processing Technology selects any group of consumer comments from various sources (usually electronic open-ended comments) and turns them into useful and insightful information in an easy-to-use-format. The resulting report aggregates the comments into topics that help companies identify hidden areas of customer concerns. Examples of questions these reports address: Do customer comments validate the data in the client’s tracking study? Are marketing campaigns in specific stores/regions moving the needle? Did consumers notice the change or improvement in the client’s phone-order processing system?
|
|