Brands excel when they connect with their consumers or customers. In order to do that, marketers need to understand how their consumers talk, feel, and express themselves. What is their vernacular? What are the slangs they associate with the category? What is their real voice in their everyday activities and discussions?
Traditional market research uses surveys, focus groups, and in-home ethnography which are severely limited in capturing the real voice of consumers. With questionnaires, you are forcing the consumer to use your language. With focus groups, consumer participate often wondering about how the people observing or sitting in the group perceive them and expect them to say. With in-home ethnography, you are learning from a small set of consumers who are aware and conscious of a stranger being in their home.
MavenMagnet uses a completely different, non-intrusive, and discovery-based approach to understand consumer speak. It gathers data from broad range of digital sites including communities, blogs, news, forums, product reviews, and social networks. This is where people ask questions, express their real thoughts, and share their experience, all in their native environment. We analyze these conversations to understand how your consumers talk about products and experiences in your category. We don’t ask questions so the actual voice of consumers shine through.
At MavenMagnet, we capture the real voice of consumers anywhere in the world in any language. We don’t rely on machine translation. Our team consists of native language speakers to ensure that the cultural nuances and emotions are not lost in translation. 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 empower you to talk with your consumers in their voice.
Customer Journey in today’s world is a non-linear process. The steps between awareness and purchase often loop back on each other grouping them into one unified consideration step.
At the same time, digital platforms have become the number one destination for customers to share their experience with products ranging from cars and gadgets to hair care and baby products. With ample information and engagement opportunities available on digital platforms, customers conduct a large part of their consideration research online and brand advocacy plays a critical role in making a purchase decision. At MavenMagnet, we use our expertise to analyze digital conversation to decode the customer journey.
- Our approach is to do contextual listening to hear the voice of considerers, owners, and advocates.
- We take a discovery approach to identify the most relevant factors for the target segment while considering a service or product in a specific market.
- We identify the most relevant factors for the owners/users and what drives the customers to be advocates/loyalists.
- We provide touchpoint analysis by journey stage for media and messaging optimization.
- We provide competitive analysis to understand how the brand is perceived as compared to competition by considers and owners respectively.
Online reviews and ratings from experts and customers, multi-channel engagements, and multiple touch points have changed the customer journey for good. MavenMagnet has developed innovative technological capabilities to use contextual listening to extract valuable insights and provide actionable recommendations at every step of the journey while being fully GDPR compliant and adhering to the most stringent industry and government privacy standards.
Getting the right sample is one of the most critical tasks in conducting market research. In case of traditional market research, a few thousand set-top boxes define the ratings of hundreds of television shows, an exit poll of a thousand or so voters is used to predict who’s going to win a national election, and four groups of 15 people each define the positioning statement of a brand. Reliance on these select few to represent the target consumer segments is error-prone due to factors including posturing, respondent bias, and research fatigue.
The myth surrounding social listening tools or dashboards is that you cannot get a robust sample because the data is not representative of your target segment. At MavenMagnet, we take a completely revolutionary approach towards market research sampling to address this concern.
- Our approach to sampling is technology-based where the size of the sample is in tens of thousands and is determined by the number of consumer conversations required to form strong and stable insight patterns.
- We collect conversations from all types of digital sources that go way beyond social networks to include blogs, news sites, forums, reviews and rating sites, and special interest discussion groups.
- We collect data from wherever there is availability of public data while being compliant with privacy laws and guidelines.
- Our distribution of data sources maps to the consumer spread online to get a perfect representation of your target segment.
MavenMagnet has been at the center of disrupting the current customs and practices in market research. We use the most advanced technological, analytical, and statistical techniques to provide insights that are representative, credible, and actionable to help you make great business decisions.
Brands want to listen to their customers. A baby care brand wants to focus on lactating moms and understand the perceived benefits of their product vs. key competitors. A diabetes glucose meter manufacturer wants to better understand the viewpoint of patients with diabetes, endocrinologists, and diabetes educators to uncover emerging trends and better understand which product benefits are driving brand preference. An industrial printer manufacturer needs to identify the factors that are driving brand preference for small and mid-sized businesses.
The general myth created by social listening tools or dashboards is that you cannot garner insights from digital conversations when you want to focus on specific target segments. Dashboards use brand and product keywords to provide a data dump of anyone and everyone talking about your products. MavenMagnet is transforming the market by providing you the capability of targeted listening on virtually any demographic and/or psychographic break.
We track and analyze all the social networks but go much deeper to include specialized areas such as professional forums, communities, blogs, chat rooms, reviews, news feeds, etc. to find the conversations among your target segments. We use advanced technology to identify the customer personas. Our data aggregation technique captures the context of conversations to understand if an individual is a considerer, purchaser or advocate of your product. We focus on your target segments to provide qualitative insights on a quantitative scale, true customer voice using a “discovery” approach (not questionnaires), and key performance indicators to track and evaluate progress.
MavenMagnet has developed innovative technological capabilities to enable targeted listening. We are fully GDPR compliant and adhere to the most stringent industry and government privacy standards. We extract valuable insights and provide actionable recommendations by analyzing thousands of conversations among your target customers.
Brands seek emotional connections. But they are hard to define. Traditional market research uses surveys and focus groups, both of which are severely limited in capturing emotions. With questionnaires, open-ended questions still limit the level of expression. With focus groups, you can’t be sure of participants’ mindsets or that you are capturing their true emotions; often they sit knowing they are talking to a company about a product and wondering about how others in the group perceive them.
MavenMagnet uses a completely different approach. It gathers data from all sorts of digital sites: blogs, news, forums, reviews, and social networks. This is where people express their thoughts and recommendations which often have emotional overtones. We capture these emotions to deeply understand the perception of your consumers or customers. Emotions stir the pot of conversations. They polarize the flow of discussions. And they are truthful as your consumers and customers talk among themselves.
We are not asking them questions. Their opinions and emotions shine through.
We analyze thousands of conversations with precision and nuance. Not only can we identify positive and negative sentiments, we can identify key drivers as well as the level of engagement and impact for each driver. We can do this at the category or market level and for any target segment. We can do this in relation to your competition. We can create key performance indicators to track your brand and campaigns. And we do all this while understanding the consumer emotions, leading to true insights.
Has the marketing community set the bar too low? We think so. Marketing professionals focused on social media mining believe that their current social mining tools or dashboards – as they are commonly called – have set the bar for the possibilities of analyzing information on digital platforms. They are barely scratching the surface of a massive pool of data available beyond social sites and they settle for flawed research methods.
How does MavenMagnet differ?
- Artificial Intelligence instead of Boolean Logic Eliminates Bias — Social listening depends on using Boolean logic i.e. the paring of adjectives required to make the sample size manageable. Our proprietary software and algorithms understand the context of the conversation. For example, if you were using a social listening tool to track Cricket mobile phones you have to add a modifier such as “mobile” or “phone” to make the search manageable and avoid irrelevant references to the bug, the game, the bat, the lighter. But people don’t talk using modifiers so many valuable comments are lost in the screening.
- Data Beyond Social Networks — We track and analyze all the social networks but go much deeper to include specialized areas such as professional forums, communities, blogs, chat rooms, reviews, news feeds, etc. We can also fully integrate any data sources to which your company subscribes.
- Qualitative Research on a Quantitative Scale — We are not a dashboard. We deliver a fully analyzed in-depth report that is synthesized down to key insights and actionable recommendations, appending verbatim to each of the insights from the quantitative assessment. We provide the context, nuance, and texture of qualitative research but provide it on a totally representative and projectable scale.
- EU GDPR compliant — We adhere to the most stringent industry and government standards.
At MavenMagnet, we have long been disruptors. Our patented technologies and technique garner insights that are of such quality that they map to market performance. We have created a new path-breaking approach to market research: qualitative insights on a quantitative scale, a “discovery” approach based on true customer voices (not questionnaires), verbatim available for creative development ranked by impact, analysis and integration of huge data sets, measurement and key performance indicators, and results in four weeks or less. But our key challenge is to demystify the belief that social media monitoring tools have set the bar. We’re way past it.
Facebook’s recent data breach and EU GDPR coming into effect in May place a spotlight on privacy issues. At MavenMagnet, our operating principals of adhering to the strictest privacy standards have guided us since our inception. At the beginning, we envisioned a new method for market research, a method that would use immense digital data sets culled from publicly available information, applying our patented technologies to analyze the data in a statistically reliable manner.
While we worked hard to develop our proprietary technologies and process, we were ever mindful of the privacy needs of the customers and consumers we would study. We have always followed the highest privacy standards.
- We use data only as part of custom engagements for our clients. Our insights are used for holistic decision-making about brands, products, campaigns or customer segments. We do not target individuals or micro-target ads on Facebook or any other social network.
- We only access public data. We don’t use any app on any social network to gain access to private consumer data.
- We never collect, use or share PII information about any consumer or customer. All our research is macro-level.
- We do not hold data for resale to third parties.
- We are not Facebook dependent. Facebook typically make up less than 15% of the data we use for a typical engagement.
At MavenMagnet our goal is to provide accurate insights and deep analysis while driving efficiency in the research process. We are propelled by science. We are motivated by our clients and their unique challenges. We adhere to the highest privacy standards. Contact us to discuss further.