As the coronavirus outbreak continues to wreak havoc across the globe, time that would have otherwise been spent perusing malls or going to live events, is now being dedicated to the home and online. With social media increasingly dominating the consumer journey more than ever, combined with uncertainty over the effects of the pandemic, accurate and timely media intelligence has become even more crucial for brands and organisations to stay on top of evolving trends and conversations, in order to make better informed decisions.
However, throw in #fakenews, ‘noise’ from trolls, alternative news sources (of debatable credibility) and influencers to the mix, and we have a recipe for convoluted data and findings. This is why the use of media intelligence has to rise beyond being a static collation of brand or entity mentions.
Jason Lee, CEO of Truescope Singapore, shares his perspective on how media intelligence needs to be smarter and more aptly harnessed to deliver forward-looking insights that help shape brand strategy, positioning and product development.
The pandemic is creating new consumer segments that brands and organisations need to take into consideration for their strategies moving forward. Purchase and consumption habits could be drastically different from what the industry has predicted as seen by the surge in luxury shopping in China when the quarantine was lifted.
Now is the time to rethink how media intelligence should be better tailored to power consumer psychographics to anticipate the emerging long-term shifts in behavioural trends. Of particular note will be ‘Post-Covid’ consumers - and how we can build hyper-relevant capabilities
The world is becoming increasingly connected. Keeping a pulse on the overall trends at a global and regional scale requires media intelligence to be achieve both breadth and depth in coverage and insights. In regions like Asia where it is multilingual and diverse in channels, most media monitoring platforms’ automated sentiment and language processing capabilities will not be accurate enough to analyse and recognise localised slang, sarcasm, various grammatical nuances and culture variations. Truescope’s platform uses best-in-class machine learning and natural language processing to accurately distil the sentiment from millions of sources, from social to mainstream (broadcast, press, print) towards an issue or brand to evaluate reputation, influence and trust for communications effectiveness.
For the modern marketer, media intelligence needs to be more dynamic and able to be evaluated along with internal brand data such as sales, revenue and CRM data. Having access to a diverse selection of data sources from mainstream, broadcast, online to social will be an expected need for an omnichannel solution. Built in the cloud and powered by smart technologies and AI, Truescope offers speed and agility to combine a multitude of data sources for a comprehensive and ROI-driven measurement programme – which is essential for keeping your budgets at the C-suite table especially in light of the economic downturn.