By Adam Fraser
I was lucky enough to visit London last week on a whistle-stop tour, primarily to attend Brandwatch’s 2017 “Now You Know” conference.
Attended by 400+ practitioners from insights teams within some of the worlds largest brands, it was short on sales pitches from Brandwatch and long on valuable information relating to the world of social media and consumer insights.
In addition to the obvious networking benefits of such a face to face event (we all love social and digital – but really no substitute for this!), it was a valuable learning experience.
Some key highlights from the conference were:
- Blending social listening insights with other data sources (whether traditional market research, CRM data or website analytics) can be more powerful than looking at social insights stand alone.
- Major retailer Coop used social listening to identify key consumer feedback around environmental issues and particular products, leading to significant change in the core business processes.
- Coop also discussed how they were notified of a fire in a store via a Brandwatch alert before the PR team had formally been informed, showing the real-time benefit of active social listening.
- 95% of social media updates don’t mention a brand or product. Read that one again! Brands are not that important in people’s lives (something I have blogged about previously) – showing the importance and massive opportunity of using social listening to understand consumer attitudes to broader market research themes (e.g. climate change, congestion, buying a home, millennials etc).
- Nestle presented on the role social media played in their broader digital transformation, with listening used to anticipate future consumer needs and increase competitor knowledge.
- Emoticons have moved beyond the gimmick to the mainstream – Brandwatch now can generate ‘Emoji clouds’ as well as ‘Topic Clouds’ to summarise the key emotions being conveyed in a brand conversation.
- Approximately 80% of the time a brand appears on Twitter, there is no accompanying text naming the brand in question; hence the increasing importance of ‘visual listening’ via logo recognition technology.
- An interesting view of the media landscape from an ex BBC and Channel 4 employee looked at the impact of media consumption now taking place via “the Stream” (in social) not “the Schedule” (on broadcast TV).
- Twitter presented a McKinsey stat that social recommendations are responsible for 26% of purchases, showing the power of word of mouth marketing.
Brandwatch runs the Now You Know conference twice a year – once in the USA and once in Europe. Highly recommended if you get a chance to attend a future event.