Category Archives: General

MavenMagnet: Optimize customer service to build brand reputation

Customer service plays an important role in almost all industries. Whether you are managing a retail store or a hotel, running an airline or a credit card company, selling shoes or cars, customer service is a critical factor that can make customers love or hate your brand. In today’s connected world, good or bad customer service experience is not limited to an individual. While great customer service can turn customers into loyal social advocates, bad customer service can fuel negative sentiments for your brand and redirect customers to the competition.

With customers using multiple touchpoints like phone, chat, app, email, in-store, and social networks as well as the advancements in the industry through bots and voice assistants, it is becoming increasingly important to ensure that all the touchpoints provide optimal levels of customer service. Traditional customer service metrics often fall short in establishing the impact of each touchpoint on the brand reputation in the digital world.

MavenMagnet uses an integrated approach to measure touchpoint experience. The customer connect data collected from all touchpoints operated by the company is analyzed on a level scale. This analysis is granularly integrated with the experience customers share on digital platforms like blogs, forums, and social networks. The combination of the two data sets – one where customers are interacting with the company, and the other where they are sharing their experience with their social connections – provide a holistic assessment of the company’s customer service efficiency. MavenMagnet touchpoint experience KPI is proven to be a more realistic measure of the performance of each touchpoint and the impact it is having on the brand reputation.

At MavenMagnet, we have developed innovative technological capabilities to discover insights from large data sets. We are fully GDPR compliant and adhere to the most stringent industry and government privacy standards. We use the most advanced technological, analytical and statistical techniques to help you optimize your customer service experience and boost your brand reputation.

Scale

Scale: the thing we use for measurement. We are surrounded by scales. We measure everything from the distance to a destination to how much something (or someone) weighs to how long it’s going to take. Every measurement has a standard scale associated with it. For example, we measure distance in miles, weight in pounds and time in hours. It is second nature to us. It makes life easier and more meaningful. The same applies to everything else that is measurable including in the world of marketing. That’s where Key Performance Indicators, or KPIs, come in play.

In marketing world KPI is a standard scale to measure the success of things like marketing campaigns, a website’s performance and a brand’s position in a competitive landscape. The million dollar word here is STANDARD. If you are developing the best algorithms in the world to come up with the best KPIs, the most important thing to do is to make sure the KPIs you define are acceptable as the standard.

So let’s get to the important part. What are the ingredients to make KPIs standard? It’s a sequence of things. First and foremost is accuracy. You need enough benchmark and trends to show accuracy of your KPIs. When you have historical data to prove accuracy, you are in the market with something that you can be justified with evidence. You can make a case that there is a need for these KPIs because that’s the best measure of success. You have the confidence to let the early adopters–the progressive clients–kick tires and  try it out. When accurate results emerge, the most important ingredient in the standards business comes in picture. Trust. Trust around KPIs leads to adoption, first by the early adopters and then by everyone else. And there you have it–a new measurement standard making the lives of people in the industry so much easier and quantifiable.

ET Magazine – MavenMagnet research study: Second year of Modi Sarkar

MavenMagnet conducted a study in partnership with The Economic Times to evaluate the public performance of Indian government led by Prime Minister Narendra Modi. The study was published on May 14, 2016. Here’s the link to the study.

ModiSarkar_Year2

Going global

There are lot of things that helps the business grow. One of those things, specially for a B2B business, is global expansion. Global expansion has become a necessity in lot of ways for service companies. All Fortune 100 companies are multinationals with operations across the globe. A cereal company sells cereal in US also sells cereal in Europe also sells cereal in India and China. So if they are looking for information like how they are doing competitively in the market or how their campaigns are doing, they will need measurement tools in every market. Therefore developing global capabilities is a slam dunk and in lot of ways a no-brainer.

Then why are many service companies regional? There are many benefits of being regional. You can develop niche expertise in a market and run the tables there. It’s easier to manage and contain, and if you are in a big market, there is way too much ground to cover in there than thinking of expanding wings across borders. But sometimes its prudent to have capabilities in multiple geographies to serve your consumers.

So you plan to go global. Let’s look into challenges that comes in your way. One of the key ones is resource management. The most fundamental resource is people. Getting the right people to work in the right market is the most essential thing. You should go to the markets that will provide you the best bang for the buck, but a key decision making factor, given most other things being equal, is also where you have the most dependable people to service the market.

We would all love to have presence in all 200 countries where Pepsi sells cola, but it is just not practical and in many ways not essential. Take a step at a time so that your operational capabilities are able to support your expansion. Operational capabilities expanding with your expansion is critical. Everything from language support to time zone support need to keep up the pace. There is no time of the day when you can allow downtime if sun is up in some part of the world where you are operating.

Go global if you it makes business sense. Go global at the right time in your growth curve. Go global if you have the muscle to sustain it.

ET Magazine – MavenMagnet research study: One year of Modi Sarkar

The PM’s brand shines on, as an ET Magazine-MavenMagnet study of online conversations over the past year indicates, although it’s respected more than it’s trusted — and the expectations are only piling up.

Check out the complete study report here.
modisarkar_1year

Global Indian Women: Top 20 India-born & globally successful women from business and arts

MavenMagnet study in association with The Economic Times. 

They were born in India, and achieved fame, glory and success in other parts of the world. Which is why we decided to call them the Global Indian Women (GIW) — their influence measured by big data research firm MavenMagnet, which began with a long list of 60 women, all born in India and making waves outside it.

These women earned their spurs across countries — from the United Arab Emirates to, inevitably, the US — but one thing’s for sure: you can’t take India and their Indianness out of them. After all, many of them are what and where they are because of their cultural roots, and their ability to adapt them to a new milieu.

Consider, for instance, the story of Falu Shah, who has introduced the West to a mint-new genre of ‘Hindi-Indie’ music. Part of the credit for the success of Falu — or Falguni as she was known in her childhood days in Mumbai – would have to go to her mother Kishori Reshamdalal who ensured that her daughter was trained in Hindustani classical music.

Then, the success saga of Zulekha Daud, founder of an eponymous UAE-based hospital chain, is incomplete without a significant mention of the struggles of her mother Bilkis Vali in getting Zulekha trained as a doctor in Nagpur, fighting orthodoxy on the one hand and her own lack of formal education on the other. In fact, Zulekha recalls how her mother successfully sat for her own class 10 exams while Zulekha studied medicine.

The MavenMagnet long list also had names like Leena Nair, till recently head of human resources at Hindustan Unilever before being called up to the Unilever Headquarters in London. The likes of Nair have been left out purely because much of their achievements were back home — at least so far. The study focused primarily on two areas: business; and the arts. That helped to short list 20 names for an in-depth research to bring out the granular details of their sphere of influence.

How we did it

MavenMagnet, a research company, uses big data to uncover consumer and market insights across a broad cross-section of demographic and psychographic segments. The key advantage of its research methodology is that it does not involve moderation of discussions or questions. Instead it uses the conversations that the consumers are having on various online platforms with their friends and family to gather insights. Maven-Magnet analysed 4,172 conversations among 1,642 individuals around the 20 women to evaluate their footprint in their domain of expertise and beyond.

A key functionality of the approach in this study is its impact normalisation technique. This was essential because of two reasons. Firstly, the social sphere of influence for individuals working in different fields is considerably different. For instance, authors writing in a particular genre have a great influence on their readership, but generally their sphere of influence is considerably smaller as compared to actors working on projects with mass appeal. In order to cover women in different fields, Maven Magnet normalised the influence analysis based on the field of focus. Secondly, some business leaders (Indra Nooyi and Padmasree Warrior) and show-business personalities (Mira Nair and Freida Pinto) are outliers who have a considerably high overall impact due to their stature and work. This approach ensured that these outliers didn’t set the benchmarks.

MavenMagnet’s Conversational Research doesn’t involve any discussion guides or questionnaires that can steer the outcome in a certain direction. This considerably increases the scope of discovery. One surprising insight in this study was that the imagery spectrum (sphere of influence) of artists is narrower as compared to business leaders. While the perception of artists was generally driven by factors such as domain expertise and sensory appeal that were directly linked to their profession, peripheral attributes such as social appeal and trust were relatively more dominant in case of business leaders.

PM Narendra Modi’s 200th day: He shines as a reformer in online world

This is a study done by MavenMagnet and was originally published as the cover story in the Economic Times on December 14, 2014.

Prime Minister Narendra Modi versus superstar Rajnikanth — how is that for a match-up? Perish the delicious thought, for now we just have netizens comparing the two.

It was inevitable though, with the aura of invincibility around the two and the Modi government completing 200 days in office on the eve of the release of the Rajni starrer, Lingaa.

To mark 200 days of the Modi Sarkar, ET Magazine got big data research firm MavenMagnet to crawl the internet to gauge the mood on the day.

MavenMagnet’s patented methodology for the survey gleans opinions out of public conversations without asking questions. Rajanikanth has company though; Modi is also being compared to Singham.

Never mind the scenes in Parliament, Modi still seems to be enjoying a honeymoon with the virtual world, with a net 22% positive vibe around him.

A large segment, or 61%, remains neutral or mildly positive. On the 200th day, that is Thursday, December 11, Modi also scored brownie points by congratulating President Pranab Mukherjee and tweeting in Russian to welcome president Putin.
Foreign relations, infusion of national pride, governance and his Kashmir pitch dominated the online discussions around him and his role as prime minister.

The discussions that focused on him personally hovered around his vision and his ability to engage with the masses.

The negative vibes were generated by the usual suspects. Positives and negatives split the vibes baskets down the middle in topics like ‘communal harmony’ and ‘secularism’.However, these topics themselves have not gathered enough traction yet to dominate the discussion around Modi and the most prominent words around him are “vision” and “shares” or “meets” followed by “developed”. Even words like “RSS” or “Hindu” are not prominent.

The man-in-charge imagery clearly is winning the day as this comment from an anonymous commentator shows: “Powerful Modi can only solve all India problems and put the opposition and even his own ministers in place.” Over to the next 200 days.