Dominate Future Markets Using Accurate Opinion Data via Freddie Herbst – Commercial Director, BrandsEye
In today’s world, with the huge growth in digital technology and reliance on the internet in our lives, companies are engaged in gathering data about people more than ever. As people increasingly share aspects of their lives via social media networks, including Facebook, Twitter, Instagram and more, there is a growing stream of information available to brands about what matters to people. This data is extremely important as it can be used to make predictions about future buying habits, improvements to sales processes and ultimately be used to increase profitability.
In the past brands would have to rely solely on more antiquated systems of opinion mining such as customer surveys. While these are still important, there is so much more information that can be gleaned online from social media postings, blogs, websites, forums and online surveys. As internet usage grows, so does the sheer amount of data available. This led to the term Big Data which can be defined as “Extremely large data sets that may be analysed computationally to reveal patterns, trends, and associations, especially relating to human behaviour and interactions.”
— BrandsEye (@brandseye) 11 September 2017
While we are now living in a golden age in terms of information availability, many brands are wasting this opportunity, ironically through an over-reliance on technology. At the recent RDO8 event at the Don Carlos Leisure Resort & Spa, Freddie Herbst spoke to audience members about how they can make the most out of all the incredible data available to them online to help them listen to their guests better, so as to improve their services, overcome any social media disasters through effective listening and rapid intervention, reach out to potential new guests and ultimately increase profitability.
Freddie is the Commercial Director for BrandsEye, an innovative company based in Cape Town, South Africa, that is the only accurate opinion mining company in the world. During his highly insightful presentation, using a range of interesting statistics that demonstrated BrandsEye’s successes, he argued that in today’s highly competitive marketplace, if opinion data is not part of your strategy, you risk the very real threat of your business going bust. With all this incredible data available online, your brand can simply not afford to miss out on utilising it to its full potential.
What brand leaders need to understand is that whether their team is listening or not, there is a conversation happening online about your brand. This is why it is vital to use the right tools to be able to listen to what is being said in order to act appropriately. Ultimately, in today’s highly competitive, real-time marketplace, it is vital your brand accurately understands how your consumers feel about your products, services and those of your competitors.
— BrandsEye (@brandseye) 4 January 2017
This can mean the difference between success and failure, especially as there are companies which are using the data available to them to its full potential. In addition to this, if your brand isn’t looking to constantly improve and instead has become comfortable, which has led to stagnation, there are plenty of competitors ready to take your place. This can be seen in the number of digitally savvy disruptors such as Airbnb, Netflix and Uber.
What sets BrandsEye apart from other opinion mining companies that your brand could work with is, is the way they utilise a combination of search algorithms, crowd-sourcing and machine learning in order to mine data from online conversation for sentiment and the underlying topics. While machines and artificial intelligence are incredibly powerful and growing ever more intelligent, they still cannot fully understand the nuances of human conversation, thoughts, feelings and opinions.
— Jackie Murphy (@jackieannmurphy) 11 September 2017
For example, a machine could analyse a social media post about the performance of your team as being positive, when in fact the sentiment may have been highly negative due to the use of sarcasm, exaggeration, slang and/or emojis. Using solely a machine to analyse social media posts and other data will often inaccurately interpret online sentiment surrounding your brand’s performance, thus missing the opportunity for your brand to improve and grow. Your brand may also miss positive sentiment which could have been used as encouragement of your team to show where things are going right. Instead the BrandsEye integrated Crowd verified approach gives clients unrivalled data accuracy of up to 97%!
Freddie’s presentation was a vital wake up call to brand leaders who wrongly believe that everything can be automated. Instead it is personalisation and understanding exactly your customer needs that is more important than ever. It is this personalisation and ability to listen accurately that will set your brand apart from the masses and help ensure its continued growth and success.
Here at RDO we would like to once again thank Freddie for his excellent presentation at RDO8.
To find out more about Freddie, including how your organisation can book him for inspirational sales speeches, or staff training, visit the BrandsEye website: https://www.brandseye.com/
You can connect with BrandsEye via their social media channels:
- Facebook: https://www.facebook.com/brandseye
- Twitter: https://twitter.com/brandseye
- Instagram: https://www.instagram.com/brandseye_official/
- LinkedIn: https://www.linkedin.com/company/brandseye
- YouTube: https://www.youtube.com/channel/UCh04rGazxLwQFh8NQiDQnRg
Freddie is also active on social media so connect with him on his channels:
- LinkedIn: https://za.linkedin.com/pub/freddie-herbst/13/122/202
- Twitter: https://twitter.com/@fredmeister88
If you would like to discuss anything with RDO regarding this blog post or other relevant topics, then simply add the hashtag #RDO8 or #RDOdigital to your tweet. Alternatively search #RDO8 or #RDOdigital on Twitter to see what else we’ve been discussing and you can easily get involved in the conversation.
The RDO8 conference 2017 was sponsored by CLC World Resorts & Hotels, Diamond Resorts International, Interval International and RCI at the Platinum level, and Dial An Exchange, Light Enterprises and Shawbrook Bank at the Gold level. We thank them for their support.