The 6 +1 most valuable uses for text analytics.
I’m preparing for the 9th Annual Text Analytics Summit in London. It’s the 9th, but it’s my first, so if you’re there and you see me, please come up and say hi – I’ll give you one of my lovely new business cards.
Before the event, I wanted to capture what I’m starting to see as the most valuable uses of Text Analytics in the marketing and branding world. I’ll post after the event, to see what’s changed.
Currently, I can see the marketing department using text analytics for:
1. Early warning of faults – Late one evening, Dell’s social media command centre saw a spike in the number of social media posts around ‘overheating’ of one of their laptops. They investigated and quickly realised that the people having problems had all identified themselves on their bios as gamers. So they opened the laptop to use it like a gamer (you had to open the lid out further than normal) and saw that you could easily cause the power cable to move in front of the cooling-fan exhaust. They Tweeted the Fix to the concerned people, posted it on their own websites, and told the tech dept. The whole thing took less than 24 hours and reduced the cost and impact of ‘a fault that wasn’t a fault’.
2. Lo-cost validation of an internal proposition – test your idea on the market. Even better, see how people are already talking about similar ideas.
3. Improve New Product Introduction – in real time. Making a flight-path correction while you’re still in the air is a pretty good way of avoiding ending up in the wrong place. The best example I can think of is the case study explaining how linguistics and verbal identity methods were used by Amex to spot and deal with consumers’ pain points when they introduced their Link/Like/Love app on Facebook.
4. Pricing issues – want to find out what your customers think of your pricing, quicker than you can get a traditional market researcher to take a meeting with you? Use social media monitoring and text analytics.
5. Optimise your Marketing messages – our first ever client was Sky, who had spotted that consumers knew there was something wonderful about a new product they’d just introduced – unfortunately the consumers didn’t have a clue what the product did. If you’re good with text analytics, you can see which parts of your marketing communications need to be explained better, and which bits are in danger of boring your consumers.
6. Gain competitive advantage – do you know what your competitors’ customers don’t like about their product? Could you add something to your product to make it more attractive? You can if you are using text analytics in social media.
Finally, as a nod to our friends in the PR dept… 7. Finding influencers. It is a good idea to connect with the most influential bloggers in your target market – I just don’t think it’s the most valuable place to start if you understand Text Analytics and the principles of verbal identity.
I’m looking forward to seeing you on Monday, and delighted if you can add to my list.