In our previous blog, we showed you how to differentiate by creating industry-specific indexes. In this blog, we want to further explore how you can stand out by baselining to add further context. This blog is part of a mini blog series on product differentiation.
Any data without context is just numbers. If you know that 1,000 people are posting about your brand, that may sound great for a startup but not so much for Coca-Cola. You may try to put things in context by comparing your share of voice to your competitors. That’s a great start, but what if most of the posts about your brand are coming from men aged 25-34? Is your brand really popular among this group or that the group is just the most active group on Facebook? This is when baselining results with Facebook topic data comes in handy.
Baselining is a technique for understanding data in context that allows you to compare one set of results to another and find the outliers. For example, in one analysis of ours we found that men aged 25-34 were indeed the demographic group posting most about Honda. However, we suspected that this might just be because that group was most interested in the automotive subject matter in general, rather than having a particular affinity for that brand. So we compared the demographic breakdown of Honda engagements to a breakdown of engagements about the whole automotive topic and normalized the results. We found that Honda was actually seeing less engagement from the 25-34 year old males than the industry in general and that women aged between 45 and 64 were actually the ones engaging with Honda more than they were with the topic as a whole. What this means is that while the absolute figures suggest that millennial men are Honda’s most engaged demographic group, there is something about Honda’s products and/or their messaging that is resonating with a completely different group. By using baselining, you can start to surface actionable insights for positioning, creating and targeting future marketing efforts.
We created a video to highlight some of the techniques you can apply to differentiate your product with. Check it out and start innovating.