In 2020, at the onset of the COVID-19, brand reputation management wasn’t considered a primary business objective. Within 24 months, things have changed – today, companies are not only investing more in these efforts to paint a positive image of their brand but also hiring more and more analysts from top business analyst courses to head Marketing and Brand communications channels, especially on social media and live corporate media platforms.
So, are the business analyst courses a great option for executives working in marketing and brand management teams? Let’s find out…
Marketing is not brand reputation alone! It’s also customer sentiment analysis performed by business analysts.
It doesn’t take a degree in rocket science to understand what is the most fragile asset for any organization? In a recent survey on what is the topmost fear for any business owner in the post COVID era, 97% of the respondents said it’s their brand reputation. In an era where information spreads so quickly, and misinformation, even more, faster than accurate feed, it is extremely difficult to first track what people are saying about a brand, and then analyze what steps could be taken to influence this thought using data and analysis tools.
In this article, we have identified some of the ways business analysis influences brand reputation management using advanced capabilities.
Online Brand Reputation Guarantees 90% of Sales and Revenue Generation
Companies that have a business analyst with the help of brand reputation management make 90% of sales by retaining existing customers.
Consumer behaviors have swayed toward online reviews. Prospective buyers shopping online now read more than one review source about a brand or product or service before making a buying decision. In most cases, a buyer is likely to pick a product or brand that has a positive image in the public domain, if the price and features are the same or similar. Business analysts working closely with marketing teams studying consumer behavior for brands around the world pick social sentiments demonstrated by different cohorts of buying groups. The evaluation is mostly based on feedback, reactions, and posts shared online in support or against a brand.
A case in point is the recent furor caused in India after some international brands’ anti-India and pro-Pakistan tweets and advertising online. After a major purge activated by the people of India, the brands had to furnish an apology to salvage their brand reputation and also their prospects of doing meaningful business in a diverse country like India. Marketing teams working in these brands surely failed to gauge the sentiments before posting the anti-India advertisements, but nonetheless, course corrected by listening to social sentiment data provided by business analysts.
Business analysis in brand reputation management is more of creativity than science, say leading marketers.
When business analysis involves the use of Artificial Intelligence, Big Data, and Social media intelligence tools and techniques, it is bound to test the best of analysts and marketers working on brand reputation management campaigns. A trusted brand would employ analytical findings using data points collected from varied sources to establish a truth value about what factors actually influence social behaviors among customers dealing with brands that are considered to have a positive image, in comparison to others who may not enjoy a “so good” rapport.
80% of the brands say they already have a business analysis expert leading fine tuned programs using Machine learning algorithms that analyze through relevant online and voice-based conversations extracted from various channels.
By using AI and data analytics, brands lagging in reputation management can also tap into the opportunity to impress upon users, particularly the Gen Z and millennial groups who can be easily swayed by building a stream of persuasive social media interaction messaging campaigns. One solid example is that of Levis Jeans, which now openly promotes feminism in the urban apparel segment. For an apparel and urban fashion brand that has for so long been associated with rugged wear and masculinity appeal, chasing female customers is an uphill task. But, by proper messaging using data analytics and leveraging AI based analysis on women groups, the brand has quickly scaled its popularity.
When companies are spending more than 25 percent of their total budget on marketing efforts, strategically designed to influence a brand’s reputation in physical and digital spheres, it is worth understanding the real superhuman efforts behind this massive campaign. Like in any business operation, business analysts are at the spearhead of brand reputation campaigns undertaken around the globe.