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Social Media Analysis of Car Brands
April 2, 2014
auto brands, automobile industry, automobile industry and social media, car brands, car brands and social media, Comparative Analysis, Ford social media, Honda social media, Industry Analysis, Lexus social media, sentiment analysis, Social Media Analytics, social media benchmarking report, social media ROI, social media scorecard, social media sentiments, Toyota social media, Volkswagen social media
A recent CMO survey of car brands observed that though car brands are using social media for engagement and awareness purposes, they are not using social media as a channel for generating sales. This is not an uncommon problem. Although companies are adept at handling social media as a purely marketing and customer engagement tool, they are often at loss when it comes to identifying opportunities, generating leads, and driving sales. One of the main reasons for this is their inability to use the social media intelligence effectively.
In this article, we are going to delve deeper into the social media performance of car brands in the US market to see how they stack up against each other. The analysis is based on the data from thousands of relevant social media conversations.
Methodology for Social Media Analysis: The conversations are analyzed using VOZIQ’s social media analysis tool, which mines data from thousands of conversations happening across various social media channels. It also pulls up online articles, comments and discussions that have mentions of these brands as well as related keywords. This huge amount of data is then analyzed to create customized reports which have actionable insights about the brands, their customers, competitors, and customers of the competitors.
For this study, we have analyzed the performance of the following car brands on social media platforms:
Ford
Honda
Mercedes-Benz
BMW
Toyota
Audi
Nissan
Lexus
Hyundai
Volkswagen
Ford Creates Maximum Social Media Buzz
Social media buzz is reported using the share of volume metric. It tells us about the comparative standing of the companies in an industry.
From the report, it can be seen that Ford has a sizeable lead over other brands in the amount of buzz created on social media. Ford is followed by Honda, Mercedes-Benz, and BMW.
Share of volume should not be confused with popularity (or lack of it) for a particular company. It just tells us about the amount of raw buzz regarding a brand on social networks. It does, however, also tell us about the awareness regarding the particular brand.
What people think of these companies – the social sentiments
Vocal consumers share their opinions without holding back anything. These opinions are a goldmine of insights into preferences and pain points of consumers. Tracking, identifying and categorizing such sentiments can be done using social media analytics tools.
How are social sentiments analyzed? The expressed sentiments are often hidden within the conversations on social media. The analytics tools need a powerful natural language processing algorithm to unearth and categorize these sentiments. In the overall buzz about a brand, the sentiment balance chart shows us the proportion of positive vs. negative sentiments.
The best sentiment balance scores are reported by Volkswagen, Hyundai, Lexus, and Audi. Ford, which is a leader in share of volume, shows the most dismal performance with the lowest sentiment balance score. It is common sense to decipher that Ford has a very high share of negative buzz when compared to other brands.
Top themes for the car brands
The conversations on social media are full of insights into real business issues for a company. Social media users talk about their brand experiences, opinions about products, buying preferences, and so on. In many situations, these insights trump traditional market research methods.
As the chart shows, the topmost topics in the social media conversations as well as their relative proportion for each brand provides good context for making effective business decisions.
The conversations on social media generate an immense amount of data, which can be further analyzed to understand deeper business issues. Social media analytics tools give companies a unique ability to collect and make sense of a huge amount of data which is being generated on social networks. Armed with these insights, companies can avoid blind spots and understand their customers and competitors in a better manner.
If you are interested in social media monitoring tools from VOZIQ to track and monitor online content for your brand, feel free to request a demo or open an account with VOZIQ.
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Social Media Analysis of Car Brands | VOZIQ | Actionable Social …
