If you didn’t know already, we’re serious about social. We believe that at the heart of every good social media campaign or strategy is a good understanding of customer behaviours. For that understanding we use data and turn it into insights that inform our content and the way we communicate as our client brands.
At IF we work with brands across both B2C and B2B sectors that see the benefit in using data to drive insightful marketing strategies. For when we want to get down and dirty with data our go-to platform is Brandwatch.
We currently use Brandwatch to monitor trends, brand mentions over time and to track performance. However, Brandwatch have just released a powerful tool that could change the way brands look at their data. Introducing Benchmark, a visualisation tool that will give much needed context and insights into your data.
So why is Benchmark getting the IF team all giddy? Here are five features which show why Brandwatch is a brand’s best friend.
Share of voice
To be able to see how often your brand is talked about is a great insight to have at your fingertips, but it can be misleading. Not anymore. Being able to compare your current share of voice against your past results and your competitors will give more context. Your brand may have the third highest share of voice amongst your competitors but having the ability to see whether your mentions have increased or decreased over time is much more useful.
Monitor response rate in a timely manner
As a brand you probably already have benchmarks as to how many posts and replies you need to get out in every given month. Benchmark can help you keep track and see if you’re falling behind your KPIs.
Add context to your sentiment
Should brands still be cynical about sentiment? Perhaps not. Benchmark easily shows how many positive or negative mentions your brand has received over time, but what use is this without the context? Looking at historical data you can see if your positive mentions have decreased or increased compared to your competitors.
Understand how your audience changes over time
Any social media expert knows that the key to success is understanding your audience. Being able to establish the change in your audience’s conversation can help you gain an even better understanding of your core consumers.
Measure consumer preferences over time
Trends are an important factor when it comes to conversation and they can affect how consumers see your brand. In an instant, Benchmark can measure how major trends are affecting your industry and how your brand measures up in the conversation.
As well as all of the above, Benchmark gives you insights instantly and it’s easy to use with simple drop-down menus to analyse your data (finding your best performing channel is just a click away).
The best news? If you have a Brandwatch account, you already have access to Benchmark. Simply add a new component to your dashboard and get analysing.
Your brand is in a constant fight for survival, knowing your competitor’s strengths and weaknesses will put you and your brand on the front foot with your target consumers.