In an age where the average advertisement costs thousands of dollars and requires hundreds of staff hours – and when a 30-second commercial spot during the Superbowl is nearing upwards of $3 million dollars – companies need to ensure that their ads are being put in the right place and at the right time.
Not every company needs a Superbowl commercial to hit their target audience. Consumers can be reached through so many outlets – including the Internet. With hundreds of review sites like Amazon, Buzzillions, CNET, etc. that contain hundreds of trustworthy reviews from consumers that use your product or services, companies can use this information to gain actionable customer insight and allow themselves to target their advertisements appropriately.
In Leximancer’s most recent Webinar, this notion was discussed. While analyzing reviews on a Canon camera lens from both Amazon and Buzzillions, The Customer Insight Portal was able to identify key issues and themes relating to reviews from each site. When comparing reviews from both, you could see that consumers on Amazon had much different opinions than those on Buzzillions.
While one set of reviews focused on the more technical aspects of the lens, the other focused on accessories and general features. Ultimately, it would make sense for Canon to tailor to these consumers accordingly – placing ads on Amazon that promoted some of the more technical aspects of the lens, and focus their ads on some of the available lens accessories on Buzzillions.
By being able to take customer reviews and use text analytics to identify the common themes and concepts associated with such, Canon and companies alike can really focus and target their advertisement efforts. In turn, by focusing their ads on what customers are already speaking about, companies would likely see a greater return on investment – proving that when done right and done smart, targeted advertising efforts do pay off.
Join us for our next Webinar, Don’t Just Monitor Social Media…Analyze and Act On It, on Wednesday, Nov. 19 at 1:00 p.m. EST for a discussion on monitoring social media and how to use what people are saying to understand why they are saying it. For more information or to register, click here.Read Full Post | Make a Comment ( 3 so far )