Nowcasting your marketing communication effectiveness using search volumes and sentiment analysis

In an article in Contagious by James Swift, he interviews Les Binet on his research of the possible correlation between search volumes and market share, Les Binet states that he saw strong correlations between share of search and market share for the brands he had data on. The reason behind this is twofold: 1. search shows that the market is looking to buy from a brand 2. existing customers search more often for products/services relating to their current brand, ex. iPhone users search more often for “iPhone headphones” or “iPhone service”.

We at Graviz Labs have through our research, when looking for metrics to find strong indicators for marketing communication effectiveness, found the same results. However, we were not happy with some fluctuations caused by for example search driven by a crisis, which Les Binet himself points out as a weakness. Therefore we decided to experiment with smoothing out the data using sentiment data, to weigh in the underlying reasons for the spikes or deviations. Looking at the results, we were super excited when we saw the strong correlations between the categories we tested against. Based on this we launched our metric “Search & Sentiment” in our tool My Telescope Competitive Compass. 

So in other words, one of the strongest indicators of effectiveness is share of search + sentiment analysis = Real effectiveness.

Check your effectiveness today at https://app.mytelescope.io/auth/signup