In today’s world, interests and buying demands hinge on your customers’ state of being, otherwise known as their emotional state. Buying decisions, whether it be a product, an idea or a political candidate, are emotional.
We work with groups as diverse as advertising agencies, political campaigns and marketing organizations, all with the same of objective of being successful and increasing their ROI. In the past, these groups have used consumer feedback, surveys or just taking a hit or miss approach with ads and seeing what sticks. It’s common practice for advertisers to plan their campaigns, set the KPI’s and track the results. Tracking is done through various means: sometimes it’s just measuring the sales revenue made after the ads ran. But as technology became more sophisticated, we saw a rise in “Sentiment Analysis” tools, and advertisers’ approach changed. Often called the Digital Age of Market Research, the Internet and social media changed how marketers looked for insights into buyer behaviors. Sometimes referred to as Social Listening, tech firms found a way to “scrape” comments off social media to see what people were saying about a product, person or event. They would then categorize these comments mostly using positive, negative, or neutral scoring to determine the overall feeling expressed.
Deloitte conducted a study that noted results of Social Media Listening can be unreliable. Most Social Listening simply scratches the surface and, typically, listens to major Social Media such as Twitter without regard to context, allowing loud and most frequent ‘Tweeters’ to dominate the sentiment. The problem is the most active Tweeters only represent 2% of the general population.
Due to the unreliability of data, we wanted to develop an affordable tool that would be more effective, efficient and actionable. When we created our next generation Emotionality Index℠, we focused on emotional analysis. This gives a broader attribution range that fuels sentiment. The emotional aspect of human behavior is also actionable. We set breakthrough standards in emotional drivers accurately linking feelings, moods and attitudes to topics with granularity using industry-specific modeling and context-aware analysis.
The ability to uncover emotional feelings is key to building and defining new micro segmented personas that can be targeted more effectively. To ensure greater success with engagement, it’s important to go beyond what people like to do and tap into their emotional drivers and discover the “Why” factor.
Our Emotionality Index℠ was designed to take advantage of Satya Analytics’ powerful emotional sentiment analysis technology and reveal actionable insights that organizations and their marketing agencies can use to improve their ROI. As indicated in Figure 1, we gather data from a wider range of curated sources and have samples today representing over 600 million data points from over 4 million anonymized individuals. This gives us the ability to build a complete picture that is far more useful and trustworthy than a survey group of several hundred people.
Where traditional market segments divide customers into a few groups (cohorts, clusters, etc.) using location, demographics, customer behavior, and psychographics; micro segmentation extends the concept to a greater level of specificity. Using Satya Analytics Emotionality Index℠ we can identify hundreds of micro segments based on a richer set of criteria such as life stage, detailed leisure interests, beliefs and opinions that collectively, if messaged correctly, impact a purchase decision.
Customers can be members of multiple micro segments that change dynamically in response to shifting attitudes, environmental pressures, economic cycles, and major game-changers such as COVID-19. With the ability to accurately link sentiment and emotion to detailed topics, Satya’s NextGen Emotionality Index℠ can identify untapped micro segments with combinations of specific leisure interests, beliefs, opinions, and personality traits.
As a real-time example, we conducted a study that identified travelers for the owners of a luxury wellness retreat who struggled to get a high enough ranking on booking sites. Their concern was that the lower ranking impacted their ability to attract guests.
Using the Emotionality Index℠ we were able to identify cohorts of travelers that frequented the area. We uncovered a large group of people that found the spiritual qualities, year-round great weather and the ability for outdoor activities that included hiking and yoga combined with an interest in healthy dining. Our client acted on this insight by changing their marketing approach and created specials to attract defined groups to the villa. Within three months, the villa was fully booked.
The key to this example is that we were able to identify travelers that the retreat could engage with and respond positively to custom tone and feel messaging. By adding the “Why” factor of emotionally driven decisions, we add another important dimension to the traveler profile. It suggests that this group is passionate about features that the retreat had to offer in plenty – but had not put it together in a way that would attract visitors. Armed with these new insights, they were able to shift the tone, language and content of messaging.
These emotional drivers aren’t found in focus groups or surveys and are sometimes impossible to find without extensive and expensive research. Satya Analytics Next Gen Emotionality Index℠ uncovered these insights in weeks at a fraction of the retreat’s marketing spend.
By analyzing consumer responses more deeply than just sentiment “positive” “neutral” and “negative” it is possible to then tweak the message tone and feel to create a more engaging experience for the consumer. When you discover the range of emotions being experienced, you can take the best actionable approach. Emotional responses should be part of your KPI’s as you continue to inspire consumers with messaging that directly matches their needs, interests and personalities.
Using Satya Analytics Next Gen Emotionality Index℠ identifies the right cohorts for your business. Combine that with emotional analysis and you will understand the “Why” behind decision making that, when addressed with focused messaging increases engagement and improves ROI.